Job Posting Title Portfolio Operations - Alternative Funds, Assistant Vice President

$80,000 - $132,500/Yr

State Street Corporation - Irvine, CA

Full-time - Mid Level

Irvine, CA

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Assistant Vice President (AVP) for the Alternative Funds team at State Street is responsible for overseeing the day-to-day operations of the Alternative Funds, ensuring effective communication with both internal and external clients. This role involves leading projects, managing processes to mitigate risks, and providing direction to offshore teams. The AVP will handle transaction processing, payment calculations, reconciliations, and maintain procedures for existing and new business requirements.

Responsibilities

• Oversee day-to-day operations of the Alternative Funds.
• Lead projects for the department and communicate with internal and external clients.
• Ensure processes and controls are in place to mitigate risk.
• Handle transaction processing and settlements, including manual directives.
• Calculate and process monthly payments for whole loans and lines of credit.
• Verify and manually instruct monthly payments for loans.
• Confirm receipts or deliveries of payments and review remittance reports.
• Verify expense reimbursements and reconcile counterparty real estate loans.
• Reconcile joint venture vendors' financial reports and fees amortization.
• Perform sweeps of cash collateral balances and fund performance reconciliations.
• Conduct daily, MTD, and YTD P&L reconciliations and custody cash reconciliations.
• Reconcile monthly accounting market values and develop procedures for new business requirements.
• Interact with counterparties, servicers, custodians, and investment managers to resolve issues.
• Coordinate requests for ad hoc reports and projects.

Requirements

• Bachelor's Degree in business, finance, accounting, or economics.
• At least 5 years of industry experience.
• In-depth knowledge of fixed income and alternative investments accounting.
• Experience in securities operations and investment manager middle and back office operations.
• Familiarity with custody, broker, and depository platforms.
• Demonstrated leadership and decision-making abilities.
• Excellent communication, interpersonal, organizational, planning, and analytical skills.
• Ability to effectively collaborate with individuals from multiple areas to resolve issues.
• Proficient in computer applications, including MS Excel and database applications.

Benefits

• Generous medical care and insurance plans.
• Savings plans and flexible work programs.
• Development programs and educational support.
• Paid volunteer days and matching gift programs.