Alternative Investment Services Allocations Team Member
U.S. Bank's Alternative Investment (AI) 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 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 calls, 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 funds 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 required for this position. This position uses Excel daily. The role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the posted office location(s) for the remaining days. 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 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 Basic qualifications: Bachelor's degree in Accounting, Finance or a business-related field Five or more years of experience in alternative investments industry Preferred skills/experience: Capable of demonstrating detail-oriented acumen 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 Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours): Healthcare (medical, dental, vision) Basic term and optional term life insurance Short-term and long-term disability Pregnancy disability and parental leave 401(k) and employer-funded retirement plan Paid vacation (from two to five weeks depending on salary grade and tenure) Up to 11 paid holiday opportunities Adoption assistance Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law. U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.
U.S. Bank's Alternative Investment (AI) 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 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 calls, 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 funds 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 required for this position. This position uses Excel daily. The role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the posted office location(s) for the remaining days. 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 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 Basic qualifications: Bachelor's degree in Accounting, Finance or a business-related field Five or more years of experience in alternative investments industry Preferred skills/experience: Capable of demonstrating detail-oriented acumen 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 Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours): Healthcare (medical, dental, vision) Basic term and optional term life insurance Short-term and long-term disability Pregnancy disability and parental leave 401(k) and employer-funded retirement plan Paid vacation (from two to five weeks depending on salary grade and tenure) Up to 11 paid holiday opportunities Adoption assistance Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law. U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.