Private Equity, Fund Accounting & Administration, Assistant Vice President
About The Position
State Street is an industry leader in providing administrative fund services to both Hedge Fund and Private Equity managers within our Alternative Investment Solutions business group. Our PE 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. The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS’ tools help our clients make better investment choices and act on growth opportunities.
Requirements
- Strong critical thinking, problem solving, and decision-making skills
- An ability to be a leader within their team, as well as be a leader amongst your peers
- Strong communication, interpersonal, and organizational skills, which includes excellent time management and prioritization skills
- Candidates must demonstrate initiative, be able to perform well under pressure, and simultaneously handle multiple assignments
- Excellent administrative and organizational with the proven ability to multi-task and to work efficiently to meet client deliverables
- A college degree (business, mathematics, finance or economics preferred, accounting concentration a plus)
- At least 7 years of accounting experience, including 3 to 4 years of supervisory experience.
Nice To Haves
- Investran experience is preferred.
- Specific experience in the private equity industry is a plus.
- CPA is a plus, but not required.
- Experience with Investran or other partnership accounting applications is a plus.
- Experience with portfolio accounting systems is a plus.
Responsibilities
- Supervise all subordinate staff (including Associate 1, Associate 2, Officer, Senior Assoc. and/or Senior Staff).
- Manage internal workflow and client deadlines.
- Manage client relationships with both client personnel and fund investors.
- Review quarterly and annual financial work paper packages including portfolio schedules, accruals and partner capital allocations.
- Review and/or preparation of annual tax work paper packages.
- Review and/or preparation of capital calls and distributions, including notices and release merged documents.
- Review periodic bank and cash reconciliations and post journal entries.
- Review quarterly management fee calculations.
- Review and/or preparation of various client related correspondence.
- During the course of normal day to day operation, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures.
- Work with database team regarding client deliverables such as financial statements, capital calls and distribution notices.
- Heavy client interaction on a daily basis.
- Coordination of annual audit and tax return preparation with external accounting firms.
- Review and/or prepare waterfall and capital account allocations.
- Understand how to navigate through limited partnership agreement.
- Review and/or prepare estimated tax workpapers.
- Approve all transactions (money movement, trades, etc.) in accordance with established guidelines
- Maintain working relationship with all client contacts, including investment professionals, investors, auditors, lawyers, and banking personnel.
- Assist all staff in ensuring compliance with investment fund agreements and other legal documents.
- Meet all requirements for performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
- Participate in special client or internal projects as required.
Benefits
- competitive and comprehensive benefits packages
- generous medical care
- insurance
- savings plans
- flexible Work Program
- wealth of development programs
- educational support
- paid volunteer days
- matching gift program
- access to employee networks
- retirement savings plan (401K) with company match
- insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
- paid-time off including vacation, sick leave, short term disability, and family care responsibilities
- access to our Employee Assistance Program
- incentive compensation including eligibility for annual performance-based awards
- eligibility for certain tax advantaged savings plans
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
