Private Equity, Fund Accounting & Administration, Assistant Vice President

Who we are looking for


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 PE team delivers customized service solutions for investment funds that have closed end structures and a variety of portfolio investments. This opportunity uniquely offers candidates the opportunity to service hybrid hedge and private equity products for industry leading asset managers. The PE NAV role is the hub in the delivery of administrative services. Employees interact daily with functional teams including; trade operations, investor services, custody, tax, and financial reporting locally and in globally diverse locations.


Why this role is important to us


The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS' tools help our clients make better investment choices and act on growth opportunities. Join us if making your mark in the financial services industry from day one is a challenge you are up for.


What you will be responsible for

• Supervise all subordinate staff (including Associate 1, Associate 2, Officer, Senior Assoc. and/or Senior Staff).
• Manage internal workflow and client deadlines.
• Manage client relationships with both client personnel and fund investors.
• Review quarterly and annual financial work paper packages including portfolio schedules, accruals and partner capital allocations.
• Review and/or preparation of annual tax work paper packages.
• Review and/or preparation of capital calls and distributions, including notices and release merged documents.
• Review periodic bank and cash reconciliations and post journal entries.
• Review quarterly management fee calculations.
• Review and/or preparation of various client related correspondence.
• During the course of normal day to day operation, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures.
• Work with database team regarding client deliverables such as financial statements, capital calls and distribution notices.
• Heavy client interaction on a daily basis.
• Coordination of annual audit and tax return preparation with external accounting firms.
• Review and/or prepare waterfall and capital account allocations.
• Understand how to navigate through limited partnership agreement.
• Review and/or prepare estimated tax workpapers.
• Approve all transactions (money movement, trades, etc.) in accordance with established guidelines
• Maintain working relationship with all client contacts, including investment professionals, investors, auditors, lawyers, and banking personnel.
• Assist all staff in ensuring compliance with investment fund agreements and other legal documents.
• Meet all requirements for performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
• Participate in special client or internal projects as required.

What we value


These skills will help you succeed in this role

• Strong critical thinking, problem solving, and decision-making skills
• An ability to be a leader within their team, as well as be a leader amongst your peers
• Strong communication, interpersonal, and organizational skills, which includes excellent time management and prioritization skills
• Candidates must demonstrate initiative, be able to perform well under pressure, and simultaneously handle multiple assignments
• Excellent administrative and organizational with the proven ability to multi-task and to work efficiently to meet client deliverables
• Investran experience is preferred.

Education & Preferred Qualifications

• Candidates must have an a college degree (business, mathematics, finance or economics preferred, accounting concentration a plus) and at least 7 years of accounting experience, including 3 to 4 years of supervisory experience.
• Specific experience in the private equity industry is a plus.
• CPA is a plus, but not required.
• Experience with Investran or other partnership accounting applications is a plus.
• Experience with portfolio accounting systems is a plus.

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

Salary Range:
$90,000 - $157,500 Annual

The 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.

Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

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About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

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Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.