Alternative Investments Associates and Accountants – Alternative Investments Accounting

Job Description

Alternative Investments Accountant | U.S. Bank

The Tone:
This is a full-time role at U.S. Bank, with the specific location not provided in this job description. U.S. Bank is a major financial institution dedicated to empowering its customers and businesses to make better and smarter financial decisions, while also enabling the communities it supports to grow and succeed. This Alternative Investments Accountant position is essential for the meticulous accounting, administration, and investor servicing of complex financial products such as hedge funds, private equity funds, and closed-end registered products. The role is critical in ensuring that all financial data is accurately processed, strictly adheres to Generally Accepted Accounting Principles (GAAP), and is effectively communicated to both investment advisors and their investors.

The TL;DR
• Role: Early Career
• Location: Not Specified
• Pay: $66640–$78400 yearly
• Team: Works as part of a team responsible for providing accounting, administration, and investor servicing.
• Mission: To accurately calculate net asset values, manage investor transactions, and prepare financial reports for alternative investment products in compliance with GAAP.
• Tech Stack: PCS (Investran), Cascade, Microsoft Office applications

What You’ll Actually Do
• Fund Valuation & Reporting: Calculate net asset value(s) for hedge funds, private equity funds, and closed-end registered products, disseminating financial and performance information to investment advisors and their investors.
• Compliance & Oversight: Act as the primary fund accountant on multiple relationships, ensuring all fund accounting functions are completed in strict accordance with Generally Accepted Accounting Principles (GAAP).
• Transaction & Portfolio Management: Accurately record trade information, income/expense activity, and apply valuation of securities within the portfolio accounting system, alongside entering and reconciling all investor contributions and withdrawals in the partnership accounting system.
• Investor Accounting & Financial Prep: Allocate fund level profits to individual investors for the preparation and distribution of investor statements, and review/coordinate fund expense analysis and processing to prepare fund financial statements, audit, and tax schedules.

The Must-Haves
• Background: Possess a Bachelor’s degree in Accounting, Finance, or another business-related field, or demonstrate equivalent professional work experience in a relevant financial capacity.
• Experience: Have less than two years of professional experience, with a preference for prior roles involving portfolio or partnership accounting specifically.
• Skills: Exhibit thorough knowledge in core accounting principles, financial reporting practices, and analytical methods; demonstrate the ability to identify complex problems and effectively resolve or escalate them with minimal guidance; manage multiple tasks and projects simultaneously to meet deadlines; communicate effectively through both interpersonal interactions, verbal discussions, and written documentation; and navigate various software packages proficiently, including Microsoft Office applications.
• Bonus: Familiarity with specific accounting software platforms, including PCS (Investran) and Cascade, would be considered a significant advantage.