Fund Accounting & Administration, MD

State Street•Quincy, MA

About The Position

This is a senior level management role within State Street’s Alternative Investments Private Market Services Business Unit. The role requires senior level executive interaction within State Street and with State Street’s largest and most strategic clients, demanding exceptional interpersonal and communication skills. Candidates must demonstrate strong initiative, be able to perform well under pressure, and be capable of managing multiple, diverse assignments. As a Private Markets Managing Director, you will be responsible for the development and execution of overall business plans both internally and in partnership with clients. You will manage relationships with key client contacts to ensure continued confidence in State Street and meet client satisfaction expectations. The role also involves overseeing all daily, weekly, monthly, and quarterly deliverables for assigned client bases, coordinating production calendars with clients and internal support areas like Financial Reporting, Compliance, and Tax. You will ensure processes and procedures meet quality standards, identify and act on high-risk processes to prevent financial loss, and be active and current on all procedures, controls, and high-risk areas. Additionally, you will be responsible for the direction and training of subordinate managers and staff, addressing employee concerns, and meeting performance planning requirements. The role includes communicating company initiatives, participating in department budget and staffing projections, completing staffing proposals for new business, assessing operational effectiveness, developing ideas for new products and services, and participating in new business generation processes. You will represent the organization internally and externally as a senior level manager and spearhead special projects and serve on committees.

Requirements

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
Candidates must demonstrate initiative, be able to perform well under pressure, and simultaneously handle multiple assignments and to work efficiently to meet client deliverables
Candidates must have a college degree (accounting degree strongly preferred; business, mathematics, finance or economics degree required)
10 or more years of previous accounting and/or financial service operations experience.
Candidates must possess 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

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