Private Credit Fund Accounting & Administration, Assistant Vice President

State Street is an industry leader in providing administrative fund services to both Hedge Fund and Private Market managers within our Alternative Investment Solutions business group. Our Private Credit team delivers customized service solutions for investment funds that have closed-end structures and a variety of portfolio investments. This opportunity offers candidates the chance to service hybrid hedge and private equity products for industry-leading asset managers.

About the role

The team you will be joining is part of International Fund Services (IFS), acquired by State Street in July 2002. IFS, also known as Alternative Investment Solutions, is a recognized industry-leading provider of fund accounting, fund administration, and risk services to Hedge Funds and Private Market Funds. These services are fully integrated to provide complete end-to-end solutions spanning front-, middle-, and back-office requirements.

Responsibilities

• Manage a growing team of financial services professionals in the production and delivery of accounting and administrative services for one or more alternative investment client relationships.
• Primarily responsible for the allocation of income to investors, determination of management and incentive fees in accordance with waterfall provisions, and processing capital events such as capital calls and distributions.
• Responsible for portfolio and fund-level accounting for numerous funds, including the review and approval of monthly or quarterly net asset value reporting.
• Lead the onboarding of existing client funds and the launch of new funds.
• Demonstrate an unrelenting commitment to client satisfaction, ensuring adherence to internal policies, procedures, and compliance with external governing regulations.
• Design and champion technology solutions to address the complex reporting and data requirements of clients.
• Proactively identify and participate in cross-sell opportunities.
• Participate in strategic working groups within the organization to improve processes and our operating model.
• Recruit, hire, train, motivate, and develop staff to realize their full potential.

Requirements

• Bachelor’s degree in Accounting or Finance.
• At least 5 to 6 years of Private Market experience.
• Experience with alternative investment asset classes, complex fund structures, and fee calculations desired.
• Highly effective communication and management skills.
• Ability to thrive and function in a high-pressure, deadline-driven environment.

Skills

• Strong critical thinking, problem-solving, and decision-making skills.
• Good interpersonal skills.
• Attention to detail.
• Effective time management.

Qualifications

• CPA qualification is favorable but not required.
• Experience with Investran or Geneva is favorable but not required.

Benefits

• Comprehensive benefits program including medical, dental, vision, and life insurance.
• Retirement savings plan (401K) with company match.
• Paid-time off including vacation, sick leave, short-term disability, and family care responsibilities.
• Employee Assistance Program.
• Incentive compensation including eligibility for annual performance-based awards.
• Tax-advantaged savings plans.
• Paid volunteer days and matching gift programs.
• Access to employee networks and flexible Work Programs.

Pay

Salary Range: $90,000 - $157,500 Annual. The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location, the applicable range could differ.

About State Street

State Street is one of the largest custodian banks, asset managers, and asset intelligence companies in the world. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading, and investment management to institutional clients. We are committed to fostering an inclusive environment where every employee feels valued and empowered to reach their full potential.