Private Credit, Fund Accounting & Administration Assistant Vice President

State Street • Boston, MA

92d • $70,000 - $115,000

About The Position

State Street is an industry leader in providing administrative fund services to both Hedge Fund and Private Market managers within our Alternative Investment Solutions business group. Our Private Credit team delivers customized service solutions for investment funds that have closed end structures and a variety of portfolio investments. This opportunity uniquely offers candidates the opportunity to service hybrid hedge and private equity products for industry leading asset managers. The PE NAV role is the hub in the delivery of administrative services. Employees interact daily with functional teams including; trade operations, investor services, custody, tax, and financial reporting locally and in globally diverse locations.

Requirements

• Bachelor's degree in Accounting or Finance
• At least 5 to 6 years of Private Market experience
• Experience with alternative investment asset classes, complex fund structures and fee calculations desired
• Highly effective communication and management skills
• Ability to thrive and function in a high pressure deadline driven environment

Nice To Haves

• CPA qualification is favourable but not required
• Experience with Investran or Geneva favourable but not required

Responsibilities

• Manage a growing team of financial services professionals in the production and delivery of accounting and administrative services for one or more alternative investment client relationships.
• Primarily responsible for the allocation of income to investors, determination of management and incentive fees in accordance with the waterfall provisions, and processing capital events such as capital calls and distributions.
• Responsible for the portfolio and fund level accounting for numerous funds including the review and approval of monthly or quarterly net asset value reporting.
• Lead the onboarding of existing client funds and the launch of new funds.
• Demonstrate an unrelenting commitment to client satisfaction.
• Ensure adherence with internal policies and procedures and compliance with external governing regulations.
• Design and champion technology solutions to address the complex reporting and data requirements of clients.
• Proactively identify and participate in cross-sell opportunities.
• Participate in strategic working groups within the organization to improve processes and our operating model.
• Recruit, hire, train, motivate, and develop staff to realize their full potential.

Benefits

• Generous medical care
• Insurance and savings plans
• Flexible Work Programs
• Development programs and educational support
• Paid volunteer days
• Matching gift programs
• Access to employee networks

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees