Job Description
Job Description
U.S. Bank’s Alternative Investment (AI) Services Allocations department is responsible for the accurate calculation of fund‑ and investor‑level net asset value (NAV) on a daily, monthly, or quarterly basis, supporting a broad range of hedge fund and private equity structures.
In this role, the Investor Allocations Team Member supervises a team of administrators responsible for fund accounting, administration, and investor servicing. The position is also accountable for maintaining the official books and records of the funds administered, ensuring compliance with governing offering documents.
Core responsibilities include:
allocating income and losses across complex fund structures
calculating management, incentive, and carried interest fees
preparing investor statements, capital calls, distributions, and rebalancing calculations.
ensuring the timely and accurate delivery of all required investor notices.
reviewing accounting and financial statement information for audit and tax purposes
This position requires strong analytical skills, including the ability to interpret legal and governing documents and translate requirements into detailed Microsoft Excel models, which are used daily.
The role serves as the primary escalation point for assigned clients and acts as a trusted advisor by proactively identifying risks, anticipating challenges, and implementing process improvements to support evolving client needs.
The team works closely with operations, investor relations, auditors, and financial reporting teams throughout the fund lifecycle, including fiscal year‑end activities.
This role supports multiple client relationships and requires a strong understanding of USBFS’ Alternative Investment business, its core services, and related ancillary offerings. Professional communication skills and a motivated, self‑starter mindset are essential for success.
Basic Qualifications:
Bachelor's degree in accounting, finance or related field, or equivalent experience
Seven to nine years of experience in alternative investments industry
Preferred Skills & Experience
Proficiency in Microsoft Office applications, with advanced Excel skills and the ability to navigate multiple software platforms
Strong understanding of Advent and Investran applications
Comprehensive knowledge of portfolio accounting and the investment management industry
Detail‑oriented with the ability to identify, resolve, or appropriately escalate complex issues with minimal guidance
Proven ability to manage multiple tasks, projects, and competing deadlines simultaneously
Strong interpersonal skills with effective verbal and written communication abilities
Demonstrated team‑oriented approach with solid leadership and organizational skills
If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Benefits:
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:
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
Review our full benefits available by employment status here.
U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, ****** orientation, gender identity, disability or veteran status, and other factors protected under applicable law.
E-Verify
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.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $117,725.00 - $138,500.00
U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.
Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.
Posting may be closed earlier due to high volume of applicants.
U.S. Bank’s Alternative Investment (AI) Services Allocations department is responsible for the accurate calculation of fund‑ and investor‑level net asset value (NAV) on a daily, monthly, or quarterly basis, supporting a broad range of hedge fund and private equity structures.
In this role, the Investor Allocations Team Member supervises a team of administrators responsible for fund accounting, administration, and investor servicing. The position is also accountable for maintaining the official books and records of the funds administered, ensuring compliance with governing offering documents.
Core responsibilities include:
allocating income and losses across complex fund structures
calculating management, incentive, and carried interest fees
preparing investor statements, capital calls, distributions, and rebalancing calculations.
ensuring the timely and accurate delivery of all required investor notices.
reviewing accounting and financial statement information for audit and tax purposes
This position requires strong analytical skills, including the ability to interpret legal and governing documents and translate requirements into detailed Microsoft Excel models, which are used daily.
The role serves as the primary escalation point for assigned clients and acts as a trusted advisor by proactively identifying risks, anticipating challenges, and implementing process improvements to support evolving client needs.
The team works closely with operations, investor relations, auditors, and financial reporting teams throughout the fund lifecycle, including fiscal year‑end activities.
This role supports multiple client relationships and requires a strong understanding of USBFS’ Alternative Investment business, its core services, and related ancillary offerings. Professional communication skills and a motivated, self‑starter mindset are essential for success.
Basic Qualifications:
Bachelor's degree in accounting, finance or related field, or equivalent experience
Seven to nine years of experience in alternative investments industry
Preferred Skills & Experience
Proficiency in Microsoft Office applications, with advanced Excel skills and the ability to navigate multiple software platforms
Strong understanding of Advent and Investran applications
Comprehensive knowledge of portfolio accounting and the investment management industry
Detail‑oriented with the ability to identify, resolve, or appropriately escalate complex issues with minimal guidance
Proven ability to manage multiple tasks, projects, and competing deadlines simultaneously
Strong interpersonal skills with effective verbal and written communication abilities
Demonstrated team‑oriented approach with solid leadership and organizational skills
If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Benefits:
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:
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
Review our full benefits available by employment status here.
U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, ****** orientation, gender identity, disability or veteran status, and other factors protected under applicable law.
E-Verify
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.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $117,725.00 - $138,500.00
U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.
Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.
Posting may be closed earlier due to high volume of applicants.
💡 Quick Summary
Seeking a career-building opportunity? The Investor Allocations Manager position is now open for candidates interested in the Finance sector. This role in New York City offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Finance is a plus.