Fund Accounting & Administration, MD

State Street•Quincy, MA

20h•$170,000 - $252,500•Onsite

About The Position

This is a senior level management role within State Street’s Alternative Investments Private Market Services Business Unit. It requires senior level executive interaction both internally within State Street and externally with State Street’s largest and most strategic clients. Candidates must possess exceptional interpersonal and communication skills, demonstrate strong initiative, perform well under pressure, and be capable of managing multiple, diverse assignments. The role involves developing and executing business plans, managing client relationships to ensure satisfaction, overseeing daily, weekly, monthly, and quarterly deliverables, and coordinating production calendars with internal support areas like Financial Reporting, Compliance, and Tax. The Managing Director is also responsible for ensuring process and procedure adequacy, identifying and acting on high-risk processes to prevent financial loss, and directing and training subordinate managers and staff. Key responsibilities include addressing employee concerns, managing performance planning, communicating company initiatives, participating in budget and staffing projections, assessing operational effectiveness, developing new products and services, and participating in new business generation. The individual will represent State Street as a senior level manager and spearhead special projects.

Requirements

Exceptional interpersonal and communication skills.
Demonstrate strong initiative.
Be able to perform well under pressure.
Be capable of managing multiple, diverse assignments.
Highly technical fund accounting skills, partnership and portfolio, alongside exceptional problem solving and analytical 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.
Ability to communicate with various internal teams to resolve inquiries and understanding when to escalate.
Demonstrate initiative, be able to perform well under pressure, and simultaneously handle multiple assignments and to work efficiently to meet client deliverables.
College degree (business, mathematics, finance or economics degree required).
10 or more years of previous accounting and/or financial service operations experience.
Solid business unit management experience on complex clients requiring a high level of client interaction.
Knowledge of Private Credit Fund structures, designs & hierarchies, standalone funds, master-feeder funds, and the role of each entity in the fund structure.
Knowledge of / experience with private credit accounting and allocation technology, such as Investran, and waterfall compensation methods and calculations.
Familiarity with Private credit Fund Services quarterly deliverables, such as Consolidations, PCAPs, Unfunded Statements, ILPAs, etc.

Nice To Haves

Accounting degree strongly preferred.
MBA and/or CPA are a plus.
Knowledge of upstream and downstream technology solutions to drive more automation levels in servicing private markets structures is a plus.
Familiarity with other alternative investment structures is a plus.

Responsibilities

Be responsible for development and execution of overall business plans both internally and in partnership with clients.
Manage relationships with key client contacts to ensure continued confidence in State Street and ensure client satisfaction expectations are met relative to the level of service delivered.
Responsible for all daily, weekly, monthly and quarterly deliverables for assigned client base.
Coordinate monthly and quarterly production calendars with clients and internal support areas including but not limited to Financial Reporting, Compliance and Tax.
Ensure process and procedures are adequate to meet quality standards and are consistently applied and regularly reviewed.
Ability to identify and act on high risk processes; must be active and current on all procedures, controls and high-risk areas to prevent financial loss.
Responsible for the direction and training of subordinate managers and staff.
Address employee concerns and sensitivities.
Meet all requirements for the performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
Provide support for and effectively communicate broad overall company initiatives and goals to managers and staff within span of control.
Responsible for participating in department budget and staffing projections.
Complete staffing proposals for newly awarded business.
Assess operational effectiveness and make suggestions to transform how we operate and deliver services to clients.
Develop ideas for new products and services to expand business opportunities and better meet client needs.
Participate in new business generation process including review of proposals, prospect presentations, staffing allocations, etc.
Represent the organization internally and externally as a senior level manager of State Street.
Spearhead special projects and serve on committees and task force assignments.

Benefits

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 (excluding certain sales roles subject to sales incentive plans)
Eligibility for certain tax advantaged savings plans
Inclusive development opportunities
Flexible work-life support
Paid volunteer days
Vibrant employee networks