Private Credit, Fund Accounting & Administration, Assistant Vice President

State Street; Boston (MA); On-site; USD 90,000 - 158,000; Full time

Job summary

State Street Corp in Boston is seeking an AVP to lead Fund Accounting & Administration for alternative investments. You will manage a growing team, oversee income allocations, fees, capital events and NAV reporting for multiple funds, and ensure timely onboarding of new client funds.

The role emphasizes client satisfaction, policy adherence, and leveraging technology for complex data needs. 5–6 years private markets experience and familiarity with Investran or Geneva are preferred.

Qualifications

• Bachelor's degree in Accounting or Finance required.
• 5–6 years of Private Market experience desired.
• CPA qualification favorable but not required.

Responsibilities

• Manage a growing team delivering accounting and administrative services for alternative investment clients.
• Oversee income allocations, management/incentive fees, and capital events (calls, distributions).
• Provide portfolio- and fund-level NAV reporting and monthly/quarterly reviews.
• Lead onboarding of existing client funds and launch of new funds.
• Ensure adherence to internal policies and external regulations and drive client satisfaction.
• Design and champion technology solutions for complex reporting and data needs.
• Identify cross-sell opportunities and participate in strategic initiatives.
• Recruit, train, and develop staff to maximize performance.

Skills

Critical thinking

Problem solving

Decision making

Interpersonal skills

Attention to detail

Time management

Education

Accounting degree

Finance degree

Tools

Investran

Geneva

Job description

Job DescriptionWho we are looking forState Street is an industry leader in providing administrative fund services to both Hedge Fund and Private Market managers within our Alternative Investment Solutions business group. Our Private Credit 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 usThe 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 Market 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 forAs Fund Accounting & Administration, AVP you willManage 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 fullWhat we valueThese skills will help you succeed in this roleStrong critical thinking, problem solving, and decision making skillsGood interpersonal skillsAttention to detailEffective time managementEducation & Preferred QualificationsBachelor’s degree in Accounting or FinanceAt least 5 to 6 years of Private Market experienceExperience with alternative investment asset classes, complex fund structures and fee calculations desireHighly effective communication and management skillsAbility to thrive and function in a high pressure deadline driven environmentCPA qualification is favorable but not requiredExperience with Investran or Geneva favorable but not requiredSalary Range:$90,000 - $157,500 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.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.For a full overview, visit https://hrportal.ehr.com/statestreet/Home .About State StreetAcross 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/careersRead our CEO StatementJob 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.