AVP of Fund Accounting in Private Equity
1 week 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 position presents candidates with the unique opportunity to engage with hybrid hedge and private equity products for top-tier asset managers. The Private Equity NAV role serves as the central point in the delivery of administrative services, requiring daily interactions with 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 join is part of 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:
- Overseeing a growing team of financial services professionals in the execution and delivery of accounting and administrative services for multiple alternative investment client relationships.
- Taking primary responsibility for income allocation to investors, determining management and incentive fees in accordance with waterfall provisions, and processing capital events such as capital calls and distributions.
- Managing portfolio and fund-level accounting for numerous funds, including the review and approval of monthly or quarterly net asset value reporting.
- Leading the onboarding of existing client funds and the initiation of new funds.
- Demonstrating a steadfast commitment to client satisfaction.
- Ensuring compliance with internal policies and procedures as well as external regulatory requirements.
- Designing and advocating for technological solutions to meet the complex reporting and data needs of clients.
- Actively identifying and engaging in cross-sell opportunities.
- Participating in strategic working groups within the organization 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 role:
- Strong critical thinking, problem-solving, and decision-making abilities.
- Excellent interpersonal skills.
- High attention to detail.
- Effective time management capabilities.
Education & 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 one of the largest custodian banks, asset managers, and asset intelligence firms globally. Through innovation in technology and products, we are making significant contributions to the financial services industry. 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 perks. You will have access to flexible work programs tailored to your needs, as well as a wealth of development programs and educational support to help you reach your full potential.
Commitment to Inclusion and Social Responsibility. We genuinely believe that the diverse backgrounds, experiences, and perspectives of our employees are crucial to creating an inclusive environment where everyone can thrive and contribute to our organization and clients. We welcome candidates from diverse origins, backgrounds, abilities, ages, sexual orientations, gender identities, and personalities. Another core value at State Street is our active engagement with communities worldwide, both as partners and leaders. We provide tools 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 to you.
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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