U.S. Bank Job - 32400852 | CareerArc
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Company: U.S. Bank
Location: Hackensack, NJ
Career Level: Associate
Industries: Banking, Insurance, Financial Services


U.S. Bank's Alternative Investment Services Allocations department is responsible for the accurate calculation of client fund and investor level NAV (net asset value) on a daily, monthly or quarterly basis.  In this role, the Investor Services – Allocations Team Member is responsible for maintaining the official books and records of the funds that we administer in accordance with their offering documents, including preparation of investor statements.  This includes, but is not limited to, allocation of income/loss through various levels of the fund structure, the calculation of management, incentive or carried interest fees, and interpretation of legal documents which are then translated into Microsoft Excel formulas.  Team members are also responsible for preparing capital call, distribution, and rebalancing computations in addition to the notices that are sent to investors.  The team works closely with our operations and investor relations teams to prepare the final allocations for the client as well as liaise with the fund's auditors and financial reporting teams as applicable during the fund's fiscal year-end.  The allocations team works on multiple relationships, servicing and supporting both hedge fund and private equity fund types.  Additionally, in this position you are expected to have a basic understanding of the overall direction of USBFS' Alternative Investment (“AI”) business, core services of AI, and ancillary products and services provided to the AI client base. Professional communication and a motivated, self-starter attitude is required for this position.  This position uses Excel daily.

  Additional Responsibilities Include
  • Understanding the policies and procedures of the AI department
  • Understanding the information flow through the various AI systems
  • Knowledge of how to use the various systems specific to the job function
  • Ability to communicate information carefully in order to manage client relationships
  • Active listening to obtain information and understand client needs
  • Written correspondence that is clear, professional and grammatically correct

This position is located near the Riverside shopping mall in Hackensack, New Jersey. Until U.S. Bank and local public health officials decide otherwise, new hires in this role will work from home using U.S. Bank provided equipment. Our WFH employees securely access our systems but they will need to have reliable access to phone and home internet services.  During normal circumstances, the work location will be based out of the Hackensack, NJ office. 



Basic Qualifications
  • Bachelor's degree in Accounting, Finance or a business-related field, or equivalent work experience
  • Ability to identify and resolve/escalate complex problems with minimal guidance
  • Ability to manage multiple tasks/projects and deadlines simultaneously
  • Effective interpersonal, verbal and written communication skills
  • Proficient computer navigation skills using a variety of software packages including Microsoft Office applications, especially Excel
  Preferred Skills/Experience
  • 1-3 years of financial service reporting experience, preferably hedge or private equity fund service activity
  • Capable of demonstrating detail oriented acumen

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