Private Equity, Fund Accounting & Incentive Fees Modelling, Assistant Vice President

Job Description

Who we are looking for 

State Street is an industry leader in providing administrative fund services to both Hedge Fund and Private Equity managers within our Alternative Investment Solutions business group. Our PE 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 State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS’ tools help our clients make better investment choices and act on growth opportunities. 

Join us if making your mark in the financial services industry from day one is a challenge you are up for. 

 

What you will be responsible for 

As Private Equity, Fund Accounting & Incentive Fees Modelling, Assistant Vice President’ you will 

• Responsibilities:

  1. Serve as a Subject Matter Expert (voice of the accountant and owner of the Waterfalls) on private equity waterfalls and carried interest calculations

  2. Manage and coordinate all aspects of the waterfall model deployment strategy, including the further enhancement of a proprietary tool and configuring waterfall models for existing and new business

  3. Consult both internally with fund accounting teams and externally with clients on the interpretation and construction of total return and deal-by-deal waterfall models

  4. Assess data clean-up or enrichment needs to be able to automate waterfall process

  5. Ensure compliance with investment fund legal documents, i.e. limited partnership agreements

  6. Work with developers to define new requirements (formulaic, data needs, or reporting needs) for the ongoing development of the waterfall automation tool

  7. Manage User Acceptance Testing of the waterfall tool development, including test scripts and success criteria

  8. Train and educate fund accounting teams on interpretation of LPAs, configuration of waterfall models, instruction on the waterfall calculation tool, etc.

 

What we value  

These skills will help you succeed in this role 

• 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 Equity 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 favorable but not required 

• Experience with Investran or Geneva favorable but not required 

 

About State Street 

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