Private Credit, Fund Accounting & Administration, Assistant Vice President
About The Position
State Street’s Private Credit team, within Alternative Investment Solutions, provides customized fund administration services to Private Market managers. The role services hybrid hedge and private equity products for asset managers and serves as a central hub for delivering administrative services. It involves daily interaction with teams including trade operations, investor services, custody, tax, and financial reporting in local and globally diverse locations. The Assistant Vice President manages a growing team of financial services professionals delivering accounting and administrative services for alternative investment clients. The position oversees 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. It also leads client fund onboarding and new fund launches, supports client satisfaction and regulatory compliance, develops technology solutions for complex reporting and data requirements, identifies cross-selling opportunities, contributes to strategic process improvement, and recruits, hires, trains, motivates, and develops staff.
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.
- Experience with Investran or Geneva.
Responsibilities
- Manage a growing team of financial services professionals in delivering accounting and administrative services for one or more alternative investment client relationships.
- Allocate income to investors and determine management and incentive fees in accordance with waterfall provisions.
- Process capital events, including 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 onboarding of existing client funds and launches 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 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 (excluding certain sales roles subject to sales incentive plans).
- Eligibility for certain tax-advantaged savings plans.
- Inclusive development opportunities.
- Flexible work-life support.
- Paid volunteer days.
- Employee networks.
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What This Job Offers
Job Type
Full-time
Career Level
Manager
