Private Credit, Fund Accounting & Administration, Assistant Vice President

State Street•Boston, MA

6d•$90,000 - $157,500

About The Position

State Street’s Private Credit team provides customized fund administration services to closed-end investment funds with varied portfolio investments. The role supports hybrid hedge and private equity products for leading asset managers and serves as a hub for delivering administrative services. It involves daily coordination with teams including trade operations, investor services, custody, tax, and financial reporting in local and global locations. As Fund Accounting & Administration, AVP, you will manage a growing team of financial services professionals 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, portfolio- and fund-level accounting, and review and approval of monthly or quarterly NAV reporting. You will also lead fund onboarding and launches, maintain client satisfaction and regulatory compliance, advance technology solutions for complex client reporting and data needs, identify cross-selling opportunities, contribute to strategic process-improvement groups, and recruit, hire, train, motivate, and develop staff. The role is part of International Fund Services (IFS), also known as Alternative Investment Solutions, which provides integrated fund accounting, fund administration, and risk services for hedge funds and private market funds.

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 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, determine management and incentive fees under waterfall provisions, and process capital calls and distributions.
Oversee portfolio- and fund-level accounting for numerous funds, including review and approval of monthly or quarterly NAV 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.
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 exclusions for certain sales roles.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.