Private Credit Fund Accounting & Administration, Managing Director

State Street•Quincy, MA

About The Position

Senior-level management role in State Street’s Alternative Investments Private Market Services Business Unit. The Managing Director develops and executes business plans, manages key client relationships, oversees client deliverables and operational controls, and leads managers and staff. The role also contributes to department budgets and staffing plans, service and process improvements, new product development, business generation, and special projects. It involves executive interaction within State Street and with its largest and most strategic clients.

Requirements

College degree; a degree in accounting is strongly preferred, and a degree in business, mathematics, finance, or economics is required.
At least 10 years of accounting and/or financial services operations experience.
Solid business unit management experience with complex clients requiring a high level of client interaction.
Knowledge of Private Credit Fund structures, designs, and hierarchies, including standalone funds, master-feeder funds, and the role of each entity.
Knowledge of or experience with private credit accounting and allocation technology, such as Investran and Geneva, and waterfall compensation methods and calculations.
Familiarity with quarterly Private Credit Fund Services deliverables, such as Consolidations, PCAPs, Cost and Income Rolls, and ILPAs.
Strong problem-solving and analytical skills.
Ability to lead within the team and among peers.
Strong communication, interpersonal, and organizational skills, including time management and prioritization.
Ability to work with internal teams to resolve inquiries and recognize when to escalate.
Ability to demonstrate initiative, perform under pressure, manage multiple assignments, and work efficiently to meet client deliverables.

Nice To Haves

MBA and/or CPA.
Knowledge of upstream and downstream technology solutions that can increase automation in servicing private markets structures.
Familiarity with other alternative investment structures.

Responsibilities

Develop and execute overall business plans internally and in partnership with clients.
Manage relationships with key client contacts and ensure client confidence and satisfaction with delivered services.
Oversee daily, weekly, monthly, and quarterly deliverables for the assigned client base.
Coordinate monthly and quarterly production calendars with clients and internal teams, including Financial Reporting, Compliance, and Tax.
Ensure processes and procedures meet quality standards, are consistently applied, and are regularly reviewed.
Identify and act on high-risk processes; maintain current knowledge of procedures, controls, and high-risk areas to prevent financial loss.
Direct and train subordinate managers and staff, address employee concerns, and fulfill performance-planning responsibilities, including goal setting, feedback, and performance appraisals.
Communicate company initiatives and goals to managers and staff within the role’s span of control.
Develop department budgets and staffing projections, and complete staffing proposals for newly awarded business.
Assess operational effectiveness and recommend improvements to operations and client service delivery.
Develop ideas for new products and services to expand business opportunities and meet client needs.
Participate in new business generation, including proposal reviews, prospect presentations, and staffing allocations.
Represent State Street internally and externally as a senior-level manager.
Lead special projects and serve on committees and task forces.

Benefits

Retirement savings plan (401(k)) with company match.
Insurance coverage including basic life, medical, dental, vision, and long-term disability, with other optional additional coverages.
Paid time off, including vacation, sick leave, short-term disability, and family-care leave.
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.