Fund Accounting & Administration, Officer
Who we are looking for
This supervisory position is within the Private Equity Fund Services business unit of the State Street Alternative Investment Services Group.
Fund Administration Managers, Officers interact with all levels of professionals both internally and externally. Therefore, exceptional interpersonal and communication skills are required. Candidates must demonstrate initiative, be able to perform well under pressure, and simultaneously handle multiple assignments. Fund Administration Managers are responsible to direct the day-to-day accounting and administration for several client-sponsored investment funds.
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 Fund Accounting and Administration you will
- Manage and maintain day-to-day communications with the clients
- Manage communications with investment professionals, other client personnel, investors, attorneys, auditors, bankers, etc.
- Engage in the thorough review and understanding of investment fund legal documents, including a complete understanding of partnership allocations and distribution waterfalls
- Adhere to State Street Alternative Investment Solutions (AIS) strict internal control procedures.
- Ensure monthly and quarterly client deliverables are meet
- Display ability to perform variance analysis to explain significant movements from quarter to quarter.
- Review quarterly and annual financial work papers including portfolio schedules, accruals, partner capital allocations, and tax work paper packages.
- During the course of normal day-to-day operation, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures.
- Review limited partnership agreements and offering memorandums and ensure compliance with operational and accounting procedures
- Coordination of annual audit and tax return preparation with external accounting firms
- Undertake a full review of calculation and verbiage on Limited Partner capital calls and distributions.
- Undertake a full review of accounting work paper packages, fees calculations, financial statements, and other reports and communications to Limited Partners
- Review quarterly management fee, waterfall, capital account calculations.
- Manage internal workflow to ensure internal processing and client deadlines are met
- Demonstrate good management skills and the ability to work well with others, individually and within a group.
- Assist with development and implementation of training all levels of accounting staff
- Supervision of subordinate staff (including Associate 1, Associate 2, and Senior Staff)
- Integrate new business/client onboarding
- Coordinate and manage special client and corporate projects
Education & Preferred Qualifications
- Candidate must have a university degree (business, mathematics, finance or economics preferred, accounting concentration a plus) and at least 8 years of accounting experience, including 2 to 3 years of supervisory and financial reporting experience is required.
- Specific experience in the private equity/real estate industry is a plus, but not required.
- Strong computer skills are required, especially Microsoft Office, particularly MS Excel.
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.
For further information, and to apply, please visit our website via the “Apply” button below.