Private Equity, Fund Accounting & Administration, Assistant Vice President

State Street; Devon (PA); On-site; USD 90,000 - 157,500; Full time

Benefits offered by this job

401K with company match

Comprehensive insurance coverage

Paid-time off including vacation and sick leave

Employee Assistance Program

Performance-based awards

Job summary

State Street in Devon, Pennsylvania, is seeking a seasoned professional for the PE NAV role, pivotal in delivering administrative services for alternative investments. The successful candidate will manage a team focused on accounting and ensure compliance with regulations while actively driving client satisfaction.

A Bachelor’s degree in Accounting or Finance and significant experience in Private Markets are essential, along with strong critical thinking and problem-solving skills. The position offers a competitive salary range of $90,000 to $157,500 annually.

Qualifications

• 5 to 6 years of Private Market experience required.
• Experience with alternative investment asset classes desired.
• CPA qualification is favorable but not required.

Responsibilities

• Manage a team responsible for accounting and administrative services.
• Allocate income to investors and determine management fees.
• Review and approve monthly or quarterly net asset value reporting.
• Lead onboarding of existing client funds and launch new funds.
• Champion technology solutions for reporting and data requirements.

Skills

Critical thinking

Problem solving

Effective time management

Attention to detail

Interpersonal skills

Education

Bachelor’s degree in Accounting or Finance

Tools

Investran

Geneva

Job description

Who we are looking for

State 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 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 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.

What You Will Be Responsible For

• 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 potential.

What We Value

• 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 Market 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 favourable but not required
• Experience with Investran or Geneva favourable but not required

Salary Range

$90,000 - $157,500 Annual

Benefits

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.

Equal Opportunity Employer

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.

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.

Job ID

R-792199