Alternative Ops Fund Accounting, Associate 2
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 delivers customized services to investment funds with closed-end structures and varied portfolio investments. This role supports hybrid hedge and private equity products for asset managers, with the PE NAV function acting as a hub for delivering administrative services and coordinating with trade operations, investor services, custody, tax, and financial reporting teams in local and global locations. The Associate manages a growing team of financial services professionals in producing and delivering accounting and administrative services for one or more alternative investment client relationships. The position handles investor income allocations, management and incentive fee calculations under waterfall provisions, capital calls and distributions, and portfolio- and fund-level accounting. It also reviews and approves monthly or quarterly net asset value reporting, leads onboarding of existing client funds and launches of new funds, and contributes to client service, regulatory compliance, technology solutions, cross-selling, and operational improvement initiatives.
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; favorable but not required.
- Experience with Investran or Geneva; favorable but not required.
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 numerous 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.
- Proactively 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, varying by location.
- Medical care and insurance coverage, including basic life, medical, dental, vision, and long-term disability coverage, with optional additional coverages.
- Retirement savings plan (401K) with company match.
- Paid time off, including vacation, sick leave, short-term disability, and family-care responsibilities.
- Employee Assistance Program.
- Incentive compensation, including eligibility for annual performance-based awards, with exceptions for certain sales roles.
- 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.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
