Private Equity, Fund Accounting & Administration, Assistant Vice President
About The Position
State Street’s Alternative Investment Solutions Private Equity team provides customized administrative services for closed-end investment funds and a range of portfolio investments. This role may also support hybrid hedge fund and private equity products for leading asset managers. The PE NAV function is central to delivering administrative services and works closely with trade operations, investor services, custody, tax, and financial reporting teams across local and global locations. As Fund Accounting & Administration AVP, you will manage a growing team responsible for accounting and administrative services for alternative investment clients. The work includes allocating income to investors, calculating management and incentive fees under waterfall provisions, processing capital calls and distributions, overseeing portfolio- and fund-level accounting, and reviewing and approving monthly or quarterly NAV reporting. You will lead onboarding of existing funds and launches of new funds, promote client satisfaction, ensure compliance with internal policies and external regulations, and advance technology solutions for complex client reporting and data needs. You will also identify cross-selling opportunities, contribute to strategic process and operating-model initiatives, and recruit, hire, train, motivate, and develop staff.
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.
- 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 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 numerous funds, including reviewing and approving monthly or quarterly NAV 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, 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.
- Incentive compensation, including eligibility for annual performance-based awards, with certain sales-role exceptions.
- 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
