Who we are looking for This is a new role within the Private Equity Fund Services Business Unit of the State Street Alternative Investments Solutions Group. The position interacts with all levels of professionals both internally and externally and with senior level executives of State Street; therefore, exceptional interpersonal and communication skills are required. Candidates must demonstrate strong initiative, be able to perform well under pressure and be capable of managing multiple and diverse assignments.
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 My Waterfall Senior Accountant you will
Serve as Subject Matter Expert (Voice of the Accountant and owner of Waterfalls) on private equity waterfalls and carried interest calculations to further enhance a proprietary tool and configure/deploy waterfall models for existing and new business
Manage and coordinate all aspects of waterfall model deployment strategy
Consult both internally with fund accounting teams on interpretation and construction of total return and deal-by-deal waterfall models
Assess data clean-up or enrichment needs to be able to automate waterfall process
Ensure compliance with investment fund legal documents, i.e. limited partnership agreements
Work with developers to define new requirements (formulaic, data needs and/or reporting needs) for ongoing development of waterfall automation tool
Manage User Acceptance Testing of waterfall tool development including test scripts and success criteria
Voice of the fund accountant/waterfall owner
Provide management reporting including but not limited to project status reports, KPIs, etc.
Review workflow process and implement process improvement
Train and educate fund accounting teams on interpretation of LPAs, configuration of waterfall models, instruction on the waterfall calculation tool, etc.
Supervision of staff accountants
Help create a Lean Culture by focusing on continuous improvement
What we value
Bachelor's degree or higher (Accounting preferred). MBA, CPA, CFA, or CAIA a plus
5+ years of private equity accounting experience
Waterfall modeling Total Return and Deal-by-Deal knowledge preferred
Ability to efficiently and independently build an Excel waterfall model in its entirety preferred
Investran knowledge preferred
Flexible working hours (restricted to the current business need)
No Intra-day deadlines
Interesting, non-repetitive process
Possibility to Work From Home
Employee savings plan
Premium life insurance package
VIP medical package
International operating environment
Soft skills training's
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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program 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 perspective 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 the 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 program 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. Discover more at StateStreet.com/careers