Allocations Associate Job

Can anyone take a look at this job description pretty quickly and sort of identify the type of role it is:

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

I recently received the job offer for this role and according to management, It is sort of a bridge role into private equity and multiple alumni of the role went on to move into private equity roles. The starting salary is pretty solid at 75k a year in Arizona and I am considering accepting the role. Was just hoping that someone can shed some light on the role in terms of it translating into private equity. Based on what I got out of it, It sounded like a glorified fund administrator or fund accounting role.

Thanks