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Private Equity Fund Accounting and Administration, Officer

 State Street

State Street

Accounting & Finance
Boston, MA, USA
Posted on Thursday, November 9, 2023

Who we are looking for

State Street is the preeminent global administrator for Private Equity funds and enjoying a sustained period of growth across all business lines. We are looking for exceptional individuals to help drive this continued success and contribute positively to our market leading position. This managerial position has responsibility for managing the day-to-day accounting and administration offering for a portfolio of blue-chip alternative investment clients.

Why this role is important to us

The team you will be joining is a part of International Fund Services (IFS), acquired by State Street in July 2002. IFS, also known as Alternative Investment Solutions, is a recognized industry-leading provider of fund accounting, fund administration and risk services to hedge funds and private equity funds. These services are fully integrated to provide complete end-to-end solutions that span the front-, middle- and back-office requirements of institutional investors.

Join us if making your mark in the alternative investment industry from day one is a challenge you are up for.

What you will be responsible for

As an Officer you will

  • As an Officer you will partner with both clients and colleagues to establish the workflow and client deadlines while supervising staff members. Through continuous communications with clients and business partners, you will have multiple responsibilities including, but not limited to:

  • Lead a diverse team involved in the preparation of financial statements for alternative investments products. Set individual and team targets and priorities; maintain standards of client service; conduct performance appraisals; and give feedback on performance.

  • Act as the point of contact for clients with responsibility for implementing and supporting the service requirements of our clients while ensuring that regulatory and fund document deadlines are met. Be a source of technical support and guidance including reviewing financial statements prepared by your teams, ensuring accuracy and prepared in accordance with GAAP, prior to issuance to clients and/or auditors.

  • Support new business integration and ensure operating models are designed to deliver best of breed service to clients bringing to bear our global footprint.

  • Be the first line of defense in surfacing any potentially risky activity and will work collaboratively with your team members to ensure data accuracy.

  • Manage the planning, preparation, and execution of the monthly or quarterly net asset value reporting cycle for one or more alternative investment client relationships.

  • Be responsible for the allocation of income to investors, determination of management and incentive fees in accordance with the waterfall provisions, and processing capital events such as capital calls and distributions.

  • Work with internal teams both onshore and abroad to provide best in class service to our clients while always seeking ways to improve and automate workflow and processes.

  • Ensure adherence with internal policies and procedures and compliance with external governing regulations.

  • Coordinate all external audit requests, and requirements from financial reporting, tax, compliance, risk and regulatory reporting.

What we value

  • A college degree (accounting preferred) and at least 5+ years of Fund accounting, general ledger or audit experience.

  • Experience in effectively leading teams and driving operational efficiencies.

  • Previous Financial reporting experience

  • Advanced Excel skills (advanced formulas, pivot tables, VLOOKUP)

  • Strong critical thinking, problem solving and decision-making skills.

  • Excellent administrative and organizational skills with the ability to multi-task and to work efficiently to meet client deliverables.

  • Candidates must demonstrate initiative, be able to perform well under time constraints, and prioritize multiple assignments.

Education & Preferred Qualifications

  • Experience with alternative investment asset classes, complex fund structures and fee calculations desired.

  • CPA qualification is favorable but not required.

  • Knowledge of Investran is favorable.

  • Past experience leading verbal and written communications at senior levels with internal and external clients

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:

$65,000 - $102,500 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.