Private Credit, Fund Accounting & Administration, Assistant Vice President

State Street•Boston, MA

2d•$80,000 - $140,000

About The Position

State Street’s Private Credit team provides customized administrative services to investment funds with closed-end structures and varied portfolio investments, including hybrid hedge and private equity products. The role is part of International Fund Services (IFS), within Alternative Investment Solutions, which provides integrated fund accounting, administration, and risk services for Hedge Funds and Private Market Funds. The Assistant Vice President manages a growing team of financial services professionals delivering accounting and administrative services for alternative investment client relationships. The role focuses on 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 net asset value reporting. The position also leads client fund onboarding and new fund launches, supports client satisfaction and regulatory compliance, advances technology solutions for complex client reporting and data needs, identifies cross-sell opportunities, and contributes to strategic process and operating-model improvements.

Requirements

Bachelor’s degree in Accounting or Finance.
At least 5 to 6 years of Private Market experience.
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 and function 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 producing and delivering accounting and administrative services for one or more alternative investment client relationships.
Allocate income to investors, determine management and incentive fees in accordance with waterfall provisions, and process capital events such as capital calls and distributions.
Oversee portfolio- and fund-level accounting for numerous funds, including review and approval of monthly or quarterly net asset value reporting.
Lead the onboarding of existing client funds and the 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.
Recruit, hire, train, motivate, and develop staff.

Benefits

Retirement savings plan (401K) with company match.
Insurance coverage including basic life, medical, dental, vision, and long-term disability, with other optional additional coverages.
Paid time off including vacation, sick leave, short-term disability, and family care responsibilities.
Access to an Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based awards, subject to stated exclusions.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.