Private Credit, Fund Accounting & Administration, Assistant Vice President

State Street•Clifton, NJ

19h

About The Position

State Street’s Private Credit team, part of Alternative Investment Solutions, provides administrative services to investment funds with closed-end structures and varied portfolio investments. The role supports hybrid hedge and private equity products for asset managers and serves as a central hub for delivery of administrative services, working with functional teams such as trade operations, investor services, custody, tax, and financial reporting. The Assistant Vice President manages a growing team of financial services professionals delivering accounting and administrative services for one or more alternative investment client relationships. The work includes 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 role also leads onboarding of existing client funds and launches of new funds, supports client satisfaction and regulatory compliance, develops technology solutions for complex client reporting and data needs, identifies cross-sell opportunities, contributes to strategic process improvement, and recruits 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; favourable but not required.
Experience with Investran or Geneva; favourable 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 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 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, long-term disability, and optional additional coverages.
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 exclusions for 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.