Private Equity Fund Administration Manager
2 months ago
Who we are seeking
State Street stands at the forefront of providing comprehensive administrative services to both Hedge Fund and Private Equity managers within our Alternative Investment Solutions division. Our Private Equity team offers tailored service solutions for investment funds characterized by closed-end structures and diverse portfolio investments. This role presents a unique opportunity for candidates to engage with hybrid hedge and private equity products for leading asset managers. The PE NAV position serves as the central point in the delivery of administrative services, with daily interactions across various functional teams including trade operations, investor services, custody, tax, and financial reporting across globally diverse locations.
Importance of this role
The team you will be joining is integral to State Street Global Services (SSGS). SSGS provides asset owners and managers with essential financial tools necessary for delivering effective investment solutions. From core custody, accounting, fund administration, and shareholder recordkeeping to comprehensive operational solutions and servicing for alternative assets such as OTC derivatives, private equity, and real estate, SSGS' offerings empower our clients to make informed investment decisions and seize growth opportunities.
Key Responsibilities
As the AVP of Fund Accounting & Administration, your responsibilities will include:
Leading a dynamic team of financial services professionals in the execution and delivery of accounting and administrative services for multiple alternative investment client relationships. Overseeing the allocation of income to investors, determining management and incentive fees in line with waterfall provisions, and managing capital events such as capital calls and distributions. Ensuring accurate portfolio and fund-level accounting for numerous funds, including the review and approval of monthly or quarterly net asset value reports. Spearheading the onboarding of existing client funds and the initiation of new funds. Committing to exceptional client satisfaction. Upholding adherence to internal policies and procedures while ensuring compliance with external regulations. Innovating and advocating for technology solutions to meet the complex reporting and data needs of clients. Actively identifying and engaging in cross-sell opportunities. Participating in strategic working groups to enhance processes and our operational model. Recruiting, hiring, training, motivating, and developing staff to achieve their full potential.Skills and Qualifications
The following skills will contribute to your success in this position:
Strong critical thinking, problem-solving, and decision-making abilities. Excellent interpersonal skills. Keen attention to detail. Effective time management capabilities.Educational Background & Preferred Qualifications
Bachelor's degree in Accounting or Finance. A minimum of 5 to 6 years of experience in Private Equity. Familiarity with alternative investment asset classes, complex fund structures, and fee calculations is preferred. Strong communication and management skills. Ability to thrive in a high-pressure, deadline-driven environment. CPA qualification is advantageous but not mandatory. Experience with Investran or Geneva is a plus but not required.About State Street
Our Mission. State Street is among the largest custodian banks, asset managers, and asset intelligence firms globally. Through technology and product innovation, we are making significant contributions to the financial services sector. For over two centuries, we have been dedicated to helping our clients safeguard and manage the investments of millions. Our services encompass investment servicing, data & analytics, investment research & trading, and investment management for institutional clients.
Work Environment and Growth Opportunities. We strive to foster a positive work environment. Our benefits packages are competitive and comprehensive, varying by location, and typically include generous medical care, insurance, and savings plans, among other advantages. You will have access to flexible work programs to accommodate your needs, and our extensive development programs and educational support will assist you in reaching your full potential.
Commitment to Inclusion and Social Responsibility. We believe that the diverse backgrounds, experiences, and perspectives of our employees are vital to creating an inclusive environment where everyone can thrive and contribute value to our organization and clients. We welcome candidates from diverse origins, backgrounds, abilities, ages, sexual orientations, gender identities, and personalities. Additionally, we are committed to engaging actively with our communities worldwide, both as partners and leaders. We provide resources to help balance your professional and personal life, including paid volunteer days, matching gift programs, and access to employee networks that keep you connected to what matters most.
State Street is an equal opportunity and affirmative action employer.
Salary Range:
$90,000 - $153,750 AnnualThe range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
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