Private Markets Fund Accounting and Administration, Officer

$75,000 - $127,500/Yr

State Street Corporation - Boston, MA

Full-time - Mid Level

Boston, MA

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

About the position

State Street is an industry leader in providing administrative fund services to both Hedge Fund and Private Equity managers within our Alternative Investment Solutions business group. Our Private Equity (PE) team delivers customized service solutions for investment funds that have closed-end structures and a variety of portfolio investments. This role offers candidates the unique opportunity to service hybrid hedge and private equity products for industry-leading asset managers. The PE NAV role is central to the delivery of administrative services, requiring daily interaction with functional teams including trade operations, investor services, custody, tax, and financial reporting across globally diverse locations. As a Fund Accounting & Administration Officer, you will supervise staff, including Associate 1, Associate 2, and Senior Associate Staff. You will manage internal workflow and client deadlines, ensuring that all tasks are completed efficiently and on time. Building and maintaining strong client relationships is crucial, as you will liaise with client personnel daily. You will also be responsible for reviewing quarterly and annual financial work paper packages, which include portfolio schedules, accruals, and partner capital allocations. Additionally, you will review quarterly and annual financial statements and footnotes, coordinating annual audits as necessary. Your role will also involve reviewing and/or preparing complex fee calculations, including management fees, waterfalls, and capital account allocations. This position requires strong critical thinking, problem-solving, and decision-making skills, as well as the ability to lead within your team and among your peers. Excellent communication, interpersonal, and organizational skills are essential, along with the ability to manage time effectively and prioritize tasks. Candidates must demonstrate initiative and the ability to perform well under pressure while handling multiple assignments simultaneously. Experience with Investran is preferred, and a Bachelor's degree in Accounting or Finance is required, along with at least 5 to 6 years of Private Equity experience.

Responsibilities

• Supervise staff including Associate 1, Associate 2, and Senior Associate Staff.
• Manage internal workflow and client deadlines.
• Manage client relationships and liaise with client personnel on a daily basis.
• Maintain good working relationships with all client contacts including investment professionals, investors, auditors, lawyers, and banking personnel.
• Review quarterly and annual financial work paper packages including portfolio schedules, accruals, and partner capital allocations.
• Review quarterly and annual financial statements and footnotes and coordinate annual audits.
• Review and/or prepare complex fee calculations, management fees, waterfalls, and capital account allocations.

Requirements

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

Nice-to-haves

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

Benefits

• Generous medical care, insurance, and savings plans.
• Access to flexible work programs.
• Development programs and educational support.
• Paid volunteer days and matching gift programs.