Who we are looking for

Senior level management role within State Street’s Alternative Investments Private Market Services Business Unit.  This role requires senior level executive interaction within State Street and with State Street’s largest and most strategic clients, 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, diverse assignments.

What you will be responsible for

As a Private Credit Managing Director, you will:

• Be responsible for development and execution of overall business plans both internally and in partnership with clients.
• Manage relationships with key client contacts to ensure continued confidence in State Street and ensure client satisfaction expectations are met relative to the level of service delivered.
• Responsible for all daily, weekly, monthly and quarterly deliverables for assigned client base.
• Coordinate monthly and quarterly production calendars with clients and internal support areas including but not limited to Financial Reporting, Compliance and Tax.
• Ensure process and procedures are adequate to meet quality standards and are consistently applied and regularly reviewed.
• Ability to identify and act on high risk processes; must be active and current on all procedures, controls and high-risk areas to prevent financial loss.
• Responsible for the direction and training of subordinate managers and staff. Address employee concerns and sensitivities.
• Meet all requirements for the performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
• Provide support for and effectively communicate broad overall company initiatives and goals to managers and staff within span of control.
• Responsible for developing department budget and staffing projections. Complete staffing proposals for newly awarded business.
• Assess operational effectiveness and make suggestions to transform how we operate and deliver services to clients. Develop ideas for new products and services to expand business opportunities and better meet client needs.
• Participate in new business generation process including review of proposals, prospect presentations, staffing allocations, etc.
• Represent the organization internally and externally as a senior level manager of State Street.
• Spearhead special projects and serve on committees and task force assignments.

What we value

These skills will help you succeed in this role

• Strong problem solving and analytical skills
• An ability to be a leader within their team, as well as be a leader amongst your peers
• Strong communication, interpersonal, and organizational skills, which includes excellent time management and prioritization skills
• Ability to communicate with various internal teams to resolve inquiries and understanding when to escalate
• Candidates must demonstrate initiative, be able to perform well under pressure, and simultaneously handle multiple assignments and to work efficiently to meet client deliverables

Education & Preferred Qualifications

• Candidates must have a college degree (accounting degree strongly preferred; business, mathematics, finance or economics degree required) and 10 or more years of previous accounting and/or financial service operations experience.
• Candidates must possess solid business unit management experience on complex clients requiring a high level of client interaction.  
• MBA and/or CPA are a plus.

Additional Requirements

• Knowledge of Private Credit Fund structures, designs & hierarchies, standalone funds, master-feeder funds, and the role of each entity in the fund structure.
• Knowledge of / experience with private credit accounting and allocation technology, such as Investran, Geneva and waterfall compensation methods and calculations.  
• Familiarity with Private Credit Fund Services quarterly deliverables, such as Consolidations, PCAPs, Cost and Income Rolls, ILPAs, etc.
• Knowledge of upstream and downstream technology solutions to drive more automation levels in servicing private markets structures is a plus.
• Familiarity with other alternative investment structures is a plus.

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.

Discover more at StateStreet.com/careers

Salary Range:

$170,000 - $267,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

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.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

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.

Discover more information on jobs at StateStreet.com/careers

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Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.