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Portfolio Accounting Associate

Bridgewater Associates

Bridgewater Associates

Accounting & Finance
Westport, CT, USA
Posted on Tuesday, February 13, 2024

About Bridgewater

Bridgewater Associates is a premier asset management firm, focused on delivering unique insight and partnership for the most sophisticated global institutional investors.

Our investment process is driven by a tireless pursuit to understand how the world’s markets and economies work — using cutting edge technology to validate and execute on timeless and universal investment principles.

Founded in 1975, we are a community of independent thinkers who share a commitment for excellence. By fostering a culture of openness, transparency, and inclusion, we strive to unlock the most complex questions in investment strategy, management, and corporate culture.

Explore more information about Bridgewater on our website here.

Our Culture

Bridgewater’s unique success is the direct result of our unique way of being. We want an idea meritocracy in which meaningful work and meaningful relationships are pursued through radical truth and radical transparency. We require people to be extremely open, air disagreements, test each other’s logic, and view discovering mistakes and weaknesses as a good thing that leads to improvement and innovation. It is by continually striving together for the highest levels of truth and excellence that we create meaningful work and meaningful relationships. Within this culture, Diversity and Inclusion is a top priority because it is essential to finding the best talent in the world, enabling our idea meritocracy, and creating an environment where all types of people can thrive. We have a full-time team as well as affinity networks that work on these issues - If you would like to learn more, please let your Bridgewater recruiter know.

Explore more information about Bridgewater’s culture on our website here.

Operations Department Overview:

The goal of the Operations Department is to enable Bridgewater's ongoing investment engine and client requirements by proactively driving solutions through effective management of people, process, and partners in a principled way.

Overall responsibilities include:

  • On & off-boarding support and maintenance of investor accounts, fund launches, trading and settlement counterparties, as well as new markets & instruments
  • Trade life cycle and portfolio control support (e.g. trade confirmation, collateral, reconciliation, etc.)
  • Investor and Fund services (e.g. capital flows, various investor reporting, etc.)
  • Accounting books and records and associated reporting (e.g. NAV);
  • Tax, Audit & regulatory/compliance support for BW, its funds and clients
  • Driving industry leading back-office solutions and engaging in thought leadership and strategic partnerships with internal and external stakeholders to shape key outcomes (e.g., BW Front Office, vendors)

Bridgewater has grown rapidly in recent years, transforming from an investment boutique to a leading global institutional asset manager. To manage this excellently, Bridgewater has placed explicit focus on evolving our world-class investment and support infrastructure inclusive of utilizing external partners for key processes. Since Back Office processes are mission-critical, the department has evolved the way in which it meets its goals and responsibilities. Bridgewater now operates a unique and innovative “tri-party model” that enables us to remain responsible for investment management and oversight of our back office, while also taking advantage of the independent processes and technology of two strategic partners who are industry leaders in this space. Key aspects of the Bridgewater’s internal back office include quality control and relationship management with the service providers as well as enablement of firm-wide change initiatives.

About Your Role

The Portfolio Accounting Associate is responsible for ensuring mission critical Accounting responsibilities are delivered excellently for Bridgewater and our clients. The role is comprised of (1) monitoring and managing the deliverables and performance of outsource providers, (2) operating internal processes and procedures and (3) improving and evolving both (e.g. participating in initiatives enabling support of new products, markets and unique investor requirements, enhancing processes and controls, etc).

One of the key advantages of the role at Bridgewater as compared to a traditional Accounting role is the Associates are developed more as “generalists” who can understand the end-to-end processes, as opposed to remaining specialists in a particular product or process.

We are seeking motivated, agile and results-oriented people to be part of the team critical to enabling Bridgewater to implement new investment ideas rapidly and meet the increasingly sophisticated needs of our clients.

Responsibilities Include:

  • Reviewing outsource partner deliverables for quality, accuracy and timeliness and trouble-shooting as necessary when problems arise. Outsourcer deliverables include security and portfolio valuations (e.g. GAV, & NAV), profit & loss reporting and performance returns, and account events (e.g. transfer-in-kind).
  • Producing various internal and external reporting, including but not limited to client, regulatory, risk & control and management metrics.
  • Acting as liaison between outsource partner(s) and internal BW departments (e.g. Trading/Account Mgmt, Client Service) for queries and providing subject matter expertise on various projects and initiatives.
  • Identifying problems and inefficiencies with various process and developing and implementing solutions (e.g. streamlining redundant processes, automating controls & reports, etc.)
  • Contributing towards training, testing, and certification of other Associates over time to ensure a high level of cross-training and fungibility

Minimum Requirements:

  • Bachelor’s degree, demonstrating a strong academic record from a competitive school
  • 2-8 years of accounting and/or operations experience (e.g. NAV, valuation, investor allocations & P/L) in financial services i.e. investment banking, hedge fund administration, hedge fund, or consulting firm (Accounting or Operations specific)
  • Proficient in commonly used software such as Excel, SharePoint, PowerPoint. Data manipulation and coding skills are also not required but are valuable (e.g. pivot tables, macros, SQL, etc.)
  • Strong sense of personal responsibility and adaptability
  • Excellent ability to detect and trouble-shoot problems
  • Strong communication and interpersonal skills

Physical Requirements

For most of our roles, Bridgewater offers remote work flexibility, with most employees required to work on campus as their principal work location, a minimum of two days (and in some cases three days) per week with the option to work offsite on other days.

Wage Range

The wage range for this role is $110,000 - $245,000 inclusive of base salary and discretionary target bonus. The expected base salary for this role is between 80% - 90% of this wage range.

Why Choose Bridgewater?

It takes all types to make Bridgewater great. We seek a diverse group of innovative thinkers and push them to engage in rigorous and thoughtful inquiry. We develop people through an honest examination of their abilities and performance, enabling personal growth and professional development. We strive to provide you opportunities that will challenge you and unlock your potential.

One of our core priorities at Bridgewater is to enable our employees to build a great life and career, and we believe our benefits are an important extension of that philosophy. As such, currently Bridgewater offers a competitive suite of benefits including:

  • Health insurance with 100% premium covered and access to additional concierge medical services
  • 401(k) plan with generous employer match
  • Paid time off, including fully paid parental leave and a competitive PTO package
  • Workplace flexibility and access to back up childcare
  • Financial assistance for family building support, including adoption and egg freezing
  • Workplace wellness, including on-site gyms, free meals and healthy snacks , and meditation rooms
  • An engaged and active community that includes many company events, affinity networks, and extracurricular interest groups. For a full list of Bridgewater benefits, click here.

Bridgewater reserves the right to change its current benefits program at any time, in a manner that is consistent with applicable federal and state regulations.

This job description is not a contract and confers no contractual rights, privileges, or benefits on any applicant or potential applicant. Bridgewater has the right to change any and all terms of this job description, including, but not limited to, job responsibilities, qualifications and benefits. Nothing in this job description constitutes an offer or guarantee of employment. Please note that we do not provide immigration sponsorship for this position.

Bridgewater Associates, LP is an Equal Opportunity Employer