Subscription Finance Surveillance, Senior Associate

State Street • Boston, MA

1d • Hybrid

About The Position

The Senior Associate will join the Subscription Finance Surveillance team within State Street’s Global Credit Finance (GCF), a lending business that provides capital call and other fund-level financing solutions to private equity sponsors, private credit managers, and hedge fund/fund-of-funds managers. The role helps monitor the credit quality of the subscription finance portfolio and supports portfolio surveillance, data quality, risk management, and reporting. It offers the opportunity to build expertise in fund finance credit risk while helping enhance and automate surveillance processes.

The position involves researching and rating Limited Partners (LPs), reviewing legal and organizational documentation, preparing weekly surveillance reports, supporting Borrowing Base data management in Mercatus (Alpha for Private Markets), and contributing to Quarterly Exposure Reviews. The Senior Associate works with Account Officers, business unit analysts, Enterprise Risk Management, Internal Audit, regulatory examiners, and other stakeholders. The role is based in a hybrid work environment, with four days per week in the office and one remote workday, in alignment with corporate policy.

Requirements

• Undergraduate degree in Finance, Business, Economics, Liberal Arts, or a related field.
• 1–4 years of experience in the financial services industry.
• Strong analytical and problem-solving skills.
• Exceptional attention to detail.
• Strong organizational and time-management skills.
• Ability to research, interpret, and analyze legal and financial documentation.
• Proficiency in Microsoft Excel and data management tools.
• Strong interpersonal skills and a customer-service mindset.
• Demonstrated initiative and intellectual curiosity.

Responsibilities

• Research and analyze Limited Partner information, including reviewing legal and organizational documentation to facilitate creation of GEMS IDs/UCIs when needed.
• Perform internal credit ratings and partner with Account Officers to obtain supporting documentation when information is not publicly available.
• Prepare, analyze, and validate weekly surveillance reporting on LP ratings, upcoming ratings reviews, outstanding ratings requests, and portfolio coverage metrics.
• Assist business unit analysts and Account Officers with Borrowing Base uploads into Mercatus (Alpha for Private Markets) and perform quality assurance reviews to ensure data accuracy and integrity.
• Respond to information requests from Enterprise Risk Management, Internal Audit, regulatory examiners, and other stakeholders in a timely and professional manner.
• Identify, assess, and escalate key risks and emerging issues to senior management.
• Work with business unit analysts and Account Officers on ongoing portfolio monitoring and risk management initiatives.
• Support automation and enhancement of recurring portfolio and management reporting by identifying manual processes, standardizing data inputs, and developing repeatable solutions using Excel and other approved tools.
• Assist with portfolio surveillance, including preparing and reviewing Quarterly Exposure Review materials for the Capital Call portfolio as needed.
• Provide support for subscription credit facility management and related surveillance activities.

Benefits

• 401(k) retirement savings plan with company match
• Basic life, medical, dental, vision, and long-term disability insurance, plus optional additional coverages
• Paid time off, including vacation and sick leave, short-term disability, and family-care responsibilities
• Employee Assistance Program
• Eligibility for annual performance-based incentive awards, except for 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
• Employee networks

What This Job Offers

• Job Type: Full-time
• Career Level: Senior