Private Credit, Fund Accounting & Administration, Assistant Vice President

State Street•Boston, MA

7d•$90,000 - $157,500

About The Position

State Street’s Private Credit team, part of Alternative Investment Solutions (also known as International Fund Services), provides customized administrative services to closed-end investment funds and funds with varied portfolio investments. The role offers the opportunity to service hybrid hedge fund and private equity products for leading asset managers. The PE NAV role is central to delivering administrative services and involves daily interaction with teams such as trade operations, investor services, custody, tax, and financial reporting across local and global locations. The Assistant Vice President manages a growing team of financial services professionals responsible for accounting and administrative services for alternative investment clients. The role oversees 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. It also leads onboarding of existing client funds and launches of new funds, supports client satisfaction and regulatory compliance, advances technology solutions for complex reporting and data needs, identifies cross-selling opportunities, and contributes to process and operating-model improvements. State Street describes itself as a global partner to institutional investors, with a commitment to an inclusive workplace and employee development. The position offers a salary range of $90,000–$157,500 annually, subject to the primary location and potential variation for other locations.

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 is desired.
CPA qualification is favorable but not required.
Experience with Investran or Geneva is 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 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 the launch of new funds.
Demonstrate 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.
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.