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Fund Accounting & Administration (Private Equity), Assistant Vice President

State Street Corporation
Clifton, USA
Closing date
Jul 20, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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
As Fund Accounting & Administration, AVP you will
  • Manage a growing team of financial services professionals in the production and delivery of accounting and administrative services for one or more alternative investment client relationships.
  • Primarily 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.
  • Responsible for the portfolio and fund level accounting for numerous funds including the review and approval of monthly or quarterly net asset value reporting.
  • Lead the onboarding of existing client funds and the launch of new funds.
  • Demonstrate an unrelenting commitment to client satisfaction.
  • Ensure adherence with internal policies and procedures and compliance with external governing regulations.
  • Design and champion technology solutions to address the complex reporting and data requirements of clients.
  • Proactively identify and participate in cross-sell opportunities.
  • Participate in strategic working groups within the organization to improve processes and our operating model.
  • Recruit, hire, train, motivate, and develop staff to realize their full

What we value
These skills will help you succeed in this role.
  • Strong critical thinking, problem solving, and decision-making skills.
  • Good interpersonal skills
  • Attention to detail.
  • Effective time management

Education & Preferred Qualifications
  • 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 desired.
  • Highly effective communication and management skills
  • Ability to thrive and function in a high-pressure deadline driven environment.
  • CPA qualification is favorable but not required.
  • Experience with Investran or Geneva favorable but not required.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs 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 perspectives 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 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 programs 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

Salary Range:

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.

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