Private Markets, Fund Accounting & Administration, Assitant Vice President

State Street Corporation - Boston, MA

Full-time - Mid Level

Boston, MA

1,001-5,000 employees

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

About the position

The Assistant Vice President (AVP) in Fund Accounting & Administration at State Street is responsible for managing a team that delivers accounting and administrative services for alternative investment client relationships. This role involves overseeing income allocation, management and incentive fee determinations, and processing capital events. The AVP will also lead the onboarding of client funds, ensure compliance with regulations, and design technology solutions to meet client reporting needs.

Responsibilities

• Manage a growing team of financial services professionals in the production and delivery of accounting and administrative services for alternative investment client relationships.
• Allocate income to investors and determine management and incentive fees according to waterfall provisions.
• Process capital events such as capital calls and distributions.
• Oversee portfolio and fund level accounting, including the review and approval of net asset value reporting.
• Lead the onboarding of existing client funds and the launch of new funds.
• Ensure adherence to internal policies and compliance with external regulations.
• Design and champion technology solutions for complex reporting and data requirements.
• Identify and participate in cross-sell opportunities.
• Participate in strategic working groups to improve processes and operating models.
• Recruit, hire, train, motivate, and develop staff.

Requirements

• Bachelor's degree in Accounting or Finance.
• At least 5 to 6 years of Private Equity experience.
• Experience with alternative investment asset classes and complex fund structures.
• Strong critical thinking, problem solving, and decision making skills.
• Good interpersonal skills and attention to detail.
• Effective time management skills.
• Highly effective communication and management skills.
• Ability to thrive in a high-pressure, deadline-driven environment.

Nice-to-haves

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

Benefits

• Health insurance
• Flexible Work Programs
• Development programs and educational support
• Paid volunteer days
• Matching gift programs