Alternative Ops Fund Accounting, Associate 2

State Street•Quincy, MA

About The Position

State Street’s Alternative Investment Solutions business provides administrative fund services to hedge fund and private market managers. The Private Credit team serves investment funds with closed-end structures and varied portfolio investments, including hybrid hedge and private equity products. The PE NAV role coordinates the delivery of administrative services and interacts with functional teams such as trade operations, investor services, custody, tax, and financial reporting in locations around the world. As a Fund Accounting & Administration Associate, you will manage a growing team of financial services professionals delivering accounting and administrative services to alternative investment clients. The role includes investor income allocations, management and incentive fee calculations under waterfall provisions, capital calls and distributions, portfolio- and fund-level accounting, and review and approval of monthly or quarterly NAV reporting. You will also lead fund onboarding and launches, support client satisfaction and regulatory compliance, develop technology solutions for complex client reporting and data needs, identify cross-sell opportunities, and contribute to strategic process and operating-model improvements.

Requirements

Bachelor’s degree in Accounting or Finance.
Strong critical-thinking, problem-solving, and decision-making skills.
Good interpersonal skills.
Attention to detail.
Effective time management.
Highly effective communication and management skills.
Ability to thrive in a high-pressure, deadline-driven environment.

Nice To Haves

Experience with alternative investment asset classes, complex fund structures, and fee calculations.
CPA qualification.
Experience with Investran or Geneva.

Responsibilities

Manage a growing team of financial services professionals delivering accounting and administrative services for alternative investment clients.
Allocate income to investors and determine management and incentive fees in accordance with waterfall provisions.
Process capital events, including capital calls and distributions.
Perform portfolio- and fund-level accounting for multiple funds.
Review and approve monthly or quarterly net asset value reporting.
Lead onboarding of existing client funds and launch of new funds.
Maintain a strong commitment to client satisfaction.
Ensure adherence to internal policies and procedures and external governing regulations.
Design and champion technology solutions for clients’ complex reporting and data requirements.
Identify and participate in cross-sell opportunities.
Participate in strategic working groups to improve processes and the operating model.

Benefits

Competitive and comprehensive benefits packages, with details varying by location.
Retirement savings plan (401(k)) with company match.
Medical, dental, vision, basic life, and long-term disability insurance, with other optional coverages.
Paid time off, including vacation and sick leave, short-term disability, and leave for family care responsibilities.
Employee Assistance Program.
Eligibility for annual performance-based incentive awards, excluding certain sales roles subject to sales incentive plans.
Eligibility for certain tax-advantaged savings plans.
Flexible work programs and work-life support.
Development programs and educational support.
Paid volunteer days.
Matching gift programs.
Employee networks.