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Intern - Middle Office Hedge Fund Operations

Company Description

IQEQ is a preeminent service provider to the alternative asset industry. IQEQ works with managers in multiple capacities ranging from hedge fund, private equity fund, and mutual fund launches; private equity fund administration; advisory firm set-up, regulatory registration and infrastructure design; ongoing regulatory compliance (SEC, CFTC, and 40 Act); financial controls and operational support services; compliance and operational related projects and reviews; and outsourced CFO/controller and administration services to private equity fund investments – portfolio companies, real estate assets and energy assets. Our client base is growing, and our existing clients are engaging the firm across the spectrum of our services offerings.

Job Description

  • Preparing daily position and trade reconciliations between clients’ books and records and their Prime Brokers’ 
  • Working with clients and prime brokers on trade break resolutions 
  • Preparing monthly tri-party position, cash, market value and accrual reconciliations 
  • Preparing monthly performance estimates for COO clients 
  • Review monthly Administrator NAV Packages and make updates to the portfolio accounting system if necessary 
  • Build and maintain fund accrual schedules 
  • Processing Corporate Actions for securities held in client portfolios, including cash and stock dividends, stock splits, and mergers and acquisitions 
  • Providing support for the conversion of new clients (middle office), including providing training to clients on technology and processes 

Qualifications

Successful candidates will have many, if not all, of the attributes below: 

  • Pursuing Bachelors or master’s degree in accounting, finance, economics or related field 
  • Prior internship experience a plus 
  • GPA: 3.3 or above 
  • Intermediate knowledge of Microsoft Excel  
  • Strong written and oral communication skills 
  • A team player with the ability to multi-task  
  • Can demonstrate problem solving skills 
  • Highly motivated, detail orientated individual 

Additional Information

This is an hourly position ($20/hour) and requires the ability to work up to 40 hours per week, in office in Fort Worth, TX for the 2025 Summer

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Average salary estimate

$41600 / YEARLY (est.)
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$41600K
$41600K

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What You Should Know About Intern - Middle Office Hedge Fund Operations, IQ-EQ

If you're looking for a thrilling opportunity to dive into the finance world, the Intern - Middle Office Hedge Fund Operations position at IQEQ in Fort Worth, TX, is perfect for you! As a leading service provider in the alternative asset industry, IQEQ offers a dynamic environment where you can learn and grow. In this role, you’ll assist in preparing daily position and trade reconciliations, ensuring that clients’ records align with those of their Prime Brokers. You’ll also tackle trade break resolutions and prepare monthly reconciliations on cash, positions, market values, and performance estimates. Your analytical skills will shine when you review monthly Administrator NAV Packages, and you will have the chance to engage directly with clients to guide them through the conversion processes and train them on cutting-edge technologies. To thrive in this position, a passion for finance and a solid foundation in accounting or economics is essential. You’ll need strong problem-solving skills and a knack for multitasking. If you’re detail-oriented and ready to jump into the fast-paced world of hedge fund operations, apply today to start your journey with IQEQ this summer!

Frequently Asked Questions (FAQs) for Intern - Middle Office Hedge Fund Operations Role at IQ-EQ
What are the key responsibilities of the Intern - Middle Office Hedge Fund Operations at IQEQ?

The Intern - Middle Office Hedge Fund Operations at IQEQ will have engaging responsibilities that include preparing daily position and trade reconciliations, resolving trade breaks, and managing monthly performance estimates for clients. You'll also be involved in critical processes such as reviewing NAV packages and converting new clients to our systems, all of which are essential to maintaining the operational integrity of hedge funds.

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What qualifications should I have for the Intern - Middle Office Hedge Fund Operations position at IQEQ?

To qualify for the Intern - Middle Office Hedge Fund Operations role at IQEQ, candidates should be pursuing a Bachelor’s or Master’s degree in accounting, finance, or economics, with a GPA of 3.3 or higher. Familiarity with Microsoft Excel and strong communication skills are also essential, along with a detail-oriented attitude and problem-solving abilities.

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Is prior internship experience necessary for the Intern - Middle Office Hedge Fund Operations position at IQEQ?

While prior internship experience is a plus for the Intern - Middle Office Hedge Fund Operations role at IQEQ, it is not strictly necessary. The key is a strong foundation in finance or accounting, coupled with a motivated and enthusiastic approach to learning the ropes of hedge fund operations.

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What can I expect from the working environment as an Intern - Middle Office Hedge Fund Operations at IQEQ?

As an Intern - Middle Office Hedge Fund Operations at IQEQ, expect a supportive and collaborative work environment in our Fort Worth office. You'll work closely with experienced professionals, providing a rich learning experience and hands-on training in various aspects of hedge fund operations, all while being part of a dynamic team focused on delivering exceptional services to our clients.

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What is the hourly pay and working hours for the Intern - Middle Office Hedge Fund Operations at IQEQ?

The Intern - Middle Office Hedge Fund Operations position at IQEQ is an hourly position offering $20 per hour. Interns are expected to work up to 40 hours a week during the summer of 2025, providing a great opportunity to gain extensive experience while being well compensated.

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Common Interview Questions for Intern - Middle Office Hedge Fund Operations
What interests you about the Intern - Middle Office Hedge Fund Operations position at IQEQ?

To answer this question, reflect on your passion for finance and the opportunities to learn in hedge fund operations. Discuss your excitement about working with a prestigious firm like IQEQ and your eagerness to contribute to its success while growing your skills in this dynamic field.

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How do you prioritize multiple tasks assigned to you as an Intern - Middle Office Hedge Fund Operations?

Explain your approach to time management, perhaps by discussing the use of to-do lists or prioritization techniques. Share examples of how you've successfully balanced multiple responsibilities in past experiences, emphasizing your ability to remain organized and detail-oriented.

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Can you provide an example of a problem you solved in a previous role?

Choose a particular instance where you identified a problem, took initiative, and implemented a solution. Be specific about the context, your reasoning, and the positive outcome that resulted from your actions, illustrating your problem-solving capabilities.

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What do you know about IQEQ and its role in the hedge fund industry?

Demonstrate your understanding of IQEQ's services, such as fund administration and regulatory compliance. Mention how IQEQ supports alternative asset managers and its commitment to client service, showcasing your enthusiasm for being a part of such an impressive organization.

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What skills do you possess that make you a good fit for this internship?

Talk about relevant skills such as proficiency in Microsoft Excel, strong analytical abilities, effective communication, and a detail-oriented mindset. Relate these skills back to how they'll help you succeed as an Intern - Middle Office Hedge Fund Operations at IQEQ.

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How would you handle a trade discrepancy in the reconciliation process?

Discuss your logical approach to identifying the source of discrepancies, such as reviewing documentation and consulting with clients or team members. Emphasize your commitment to accuracy and your willingness to take proactive steps to resolve issues effectively.

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Why is attention to detail important in middle office operations?

Articulate how attention to detail can prevent costly errors in financial reconciliations and reports. Explain how meticulousness impacts the overall efficiency and accuracy of hedge fund operations, making it critical for successful outcomes.

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What do you think the biggest challenges are facing the middle office in hedge fund operations?

Consider discussing challenges such as regulatory compliance, managing data accuracy, and adapting to technological innovations. Showcase your awareness of industry trends and articulate how you would approach overcoming these challenges as a proactive team member at IQEQ.

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How would you contribute to team dynamics as an Intern - Middle Office Hedge Fund Operations?

Illustrate your collaborative spirit by sharing examples of past teamwork experiences. Emphasize your communication skills and enthusiasm for working in a collaborative environment, which would be essential for success in the supportive culture at IQEQ.

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What steps would you take to familiarize yourself with IQEQ’s internal systems and processes?

Outline your proactive approach to learning, including asking questions, seeking guidance from colleagues, and dedicating time to training material. This demonstrates your eagerness to learn and adapt quickly to new environments, a vital quality for any intern at IQEQ.

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Take Risks
Friends Outside of Work
Passion for Exploration
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Some Meals Provided
Snacks
Social Gatherings
Pet Friendly
Company Retreats
Dental Insurance
Life insurance
Health Savings Account (HSA)
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Our mission is to be the best we can be for our clients but equally important for our people. Our culture allows people to grow, express themselves and be authentic. We provide opportunities so you can build connections and develop your career i...

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Internship, on-site
DATE POSTED
March 19, 2025

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