At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we're one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.Job Description
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
- Bachelor's degree in Accounting, Finance or a business-related field
- 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
Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.
Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting usbank.com/careers.
EEO is the Law
Applicants can learn more about the company's status as an equal opportunity employer by viewing the federal EEO is the Law poster.
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.
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