Private Equity, Fund Accounting & Administration, Assistant Vice President

State Street•Clifton, NJ

23h

About The Position

State Street’s Private Equity team provides customized administrative fund services for closed-end investment funds and a range of portfolio investments. The role offers the opportunity to service hybrid hedge fund and private equity products for leading asset managers. The Private Equity NAV function serves as a hub for delivering administrative services and works with teams including trade operations, investor services, custody, tax, and financial reporting in local and global locations. As Fund Accounting & Administration Assistant Vice President, you will manage a growing team responsible for producing and delivering accounting and administrative services for alternative investment client relationships. You will oversee investor income allocations, management and incentive fee calculations under waterfall provisions, capital calls and distributions, fund and portfolio accounting, and review and approval of monthly or quarterly NAV reporting. The role also leads client-fund onboarding and new-fund launches, promotes client satisfaction, supports regulatory and internal-policy compliance, develops technology solutions for complex client reporting and data needs, identifies cross-sell opportunities, and participates in strategic initiatives to improve processes and the operating model. You will recruit, hire, train, motivate, and develop staff. The position is part of State Street Global Services, which provides financial tools and services to asset owners and managers, including custody, accounting, fund administration, shareholder recordkeeping, operations solutions, and servicing for alternative assets. State Street describes its workplace as inclusive and offers development opportunities, work-life support, paid volunteer days, and employee networks.

Requirements

Bachelor’s degree in Accounting or Finance.
At least 5 to 6 years of Private Equity experience.
Strong critical-thinking, problem-solving, and decision-making skills.
Good interpersonal skills.
Attention to detail.
Effective time-management skills.
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 delivering accounting and administrative services for one or more alternative investment client relationships.
Allocate income to investors, determine management and incentive fees according to waterfall provisions, and process capital calls and distributions.
Oversee portfolio- and fund-level accounting for multiple funds, including reviewing and approving 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.
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, long-term disability, and optional additional coverages.
Paid time off including vacation, sick leave, short-term disability, and family-care responsibilities.
Access to an Employee Assistance Program.
Eligibility for annual performance-based incentive awards, subject to stated exclusions.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.