Private Equity, Fund Accounting & Administration, Officer

State Street•Boston, MA

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 for closed-end investment funds and a variety of portfolio investments, including hybrid hedge and private equity products. The PE NAV role serves as a hub for delivering administrative services and involves daily interaction with teams such as trade operations, investor services, custody, tax, and financial reporting in local and global locations. The Fund Accounting & Administration Officer supervises staff, manages workflow and client deadlines, and supports client relationships. The role reviews quarterly and annual financial work papers and statements, coordinates annual audits, and reviews or prepares complex fee calculations and capital allocations. The role is part of State Street Global Services, which provides asset owners and managers with custody, accounting, fund administration, shareholder recordkeeping, operations, and alternative-asset servicing solutions.

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.
Ability to lead within the team and among peers.
Strong communication, interpersonal, and organizational skills, including time management and prioritization.
Initiative and ability to perform under pressure while handling multiple assignments.
Ability to multitask and work efficiently to meet client deliverables.
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.
CPA qualification is favorable but not required.
Experience with Investran or Geneva is favorable but not required; Investran experience is preferred.

Responsibilities

Supervise Associate 1, Associate 2, and Senior Associate staff.
Manage internal workflow and client deadlines.
Manage client relationships and liaise with client personnel daily.
Maintain working relationships with client contacts, including investment professionals, investors, auditors, lawyers, and banking personnel.
Review quarterly and annual financial work paper packages, including portfolio schedules, accruals, and partner capital allocations.
Review quarterly and annual financial statements and footnotes, and coordinate annual audits.
Review and/or prepare complex fee calculations, including management fees, waterfalls, and capital account allocations.

Benefits

Retirement savings plan (401(k)) with company match.
Insurance coverage including basic life, medical, dental, vision, and long-term disability, with other optional 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 exceptions for certain sales roles.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.