Fund Accounting & Administration, Assistant Vice President
Who we are looking for
This supervisory position is within the Private Equity and Real Estate Fund Services business unit of the State Street Alternative Investment Services Group.
Fund Administration Managers, AVP 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 & Administration, AVP you will
- Technical support & mentorship to all staff levels
- Manage internal workflow to ensure internal processing and client deadlines are met.
- Manage client expectations with both designated client contacts and fund investors.
- Review quarterly and annual financial work papers including portfolio schedules, accruals and partner capital allocations.
- Review quarterly and annual financial statements and footnotes.
- Review capital calls and distributions, including notices and release merged documents.
- Review periodic bank and cash reconciliations.
- Review quarterly management fee calculations.
- 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 and/or prepare of various client related correspondence.
- Work with investor service team regarding client deliverables such as financial statements, capital calls and distribution notices.
- Coordination of annual audit and tax return preparation with external accounting firms.
- Review and/or preparation of waterfall and capital account allocations.
- Review limited partnership agreements and offering memorandums and ensure compliance with operational and accounting procedures.
- Maintain working relationship with all client contacts, including investment professionals, investors, auditors, lawyers and banking personnel.
- Meet all requirements for the performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
- Participate in special client or internal projects as required.
What we value
These skills will help you succeed in this role
Strong interpersonal skills, positive, can-do attitude, meticulous are essential. Strong computer skills are required, especially Microsoft Office, particularly MS Excel.
Education & Preferred Qualifications
Candidate must have a college degree (business, mathematics, finance or economics preferred, accounting concentration a plus) and at least 8-10 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 must.
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.