State Street
Private Credit Fund Accounting and Administration, Assistant Vice President
State Street, Clifton, New Jersey, us, 07015
Private Credit Fund Accounting and Administration, Assistant Vice President
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Private Credit Fund Accounting and Administration, Assistant Vice President
role at
State Street
Overview 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 chance to service hybrid hedge and private equity products for industry‑leading asset managers. The PE NAV role is the hub of 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.
Responsibilities
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 $85,000 - $152,500 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.
EEO Statement 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 Information Job ID: R-781349
Seniority Level Not Applicable
Employment Type Full‑time
Job Function Administrative
Industries Financial Services, Investment Banking, and Investment Management
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Private Credit Fund Accounting and Administration, Assistant Vice President
role at
State Street
Overview 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 chance to service hybrid hedge and private equity products for industry‑leading asset managers. The PE NAV role is the hub of 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.
Responsibilities
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 $85,000 - $152,500 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.
EEO Statement 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 Information Job ID: R-781349
Seniority Level Not Applicable
Employment Type Full‑time
Job Function Administrative
Industries Financial Services, Investment Banking, and Investment Management
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