Fund Accounting & Administration (Private Equity), Assistant Vice President (Hybrid)

State Street•Boston, MA

6d•Hybrid

About The Position

State Street’s Alternative Investment Solutions business group provides administrative fund services to hedge fund and private equity managers. The Private Equity team delivers customized services to closed-end investment funds with varied portfolio investments, including hybrid hedge and private equity products. The Private Equity NAV role is central to delivering these services and involves daily collaboration with teams in trade operations, investor services, custody, tax, and financial reporting, both locally and globally. The Assistant Vice President manages a growing team of financial services professionals responsible for accounting and administrative services for one or more alternative investment client relationships. The role covers 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. It also leads existing-fund onboarding and new-fund launches, supports client satisfaction and regulatory compliance, advances technology solutions for complex client reporting and data needs, identifies cross-sell opportunities, and contributes to strategic initiatives to improve processes and the operating model.

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 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.
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 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 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.
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.
Eligibility for annual performance-based incentive awards, subject to stated exclusions.
Eligibility for certain tax-advantaged savings plans.
Flexible Work Programs.
Development programs and educational support.
Paid volunteer days.
Matching gift programs.
Employee networks.