Associate - Fund Accounting - Private Equity

As an Associate, you will play a crucial role in ensuring the accurate and timely processing of Net Asset Values (NAV) for assigned funds, along with overseeing investor allocations and financial operations. You will serve as the primary contact for client communications and audits, while also collaborating with various internal teams to enhance operational efficiency. This position demands a strong understanding of financial operations, regulatory compliance, and the ability to manage complex client relationships.

From a high-level perspective, the core responsibilities that form your role are broken down into the following 7 categories:

1.      NAV Calculation and Investor Allocations

2.     Client Communications and Audit Management

3.     Financial Operations

4.     Collaboration and Coordination

5.     Audit and Financial Statement Preparation

6.     System Setup and Client Onboarding

7.     Risk and Compliance Responsibilities

Your Daily Tasks

The following are the tasks linked to the Core Responsibilities that will be expected as part of this role:  

1.      NAV Calculation and Investor Allocations:

Includes (but not limited to) the following tasks:

a.     NAV Support: Collaborate with the operations team to calculate the Net Asset Value of assigned funds, ensuring accurate investor allocations.

b.     Expense Management: Monitor bank accounts and client communications to ensure the accurate booking of expenses related to the funds.

2.    Client Communications and Audit Management:

Includes (but are not limited to) the following tasks:

a.     Client Liaison: Act as the lead point of contact for all client communications and audits, ensuring that all inquiries are addressed promptly and effectively.

b.     Audit Coordination: Coordinate with FS Prep Team and external auditors to facilitate the audit process, ensuring all required documentation is prepared and provided.

3.    Financial Operations:

Includes (but are not limited to) the following tasks:

a.     Fee Calculations: Calculate management fees, carried interest, and performance fees for the funds, along with ensuring accurate period accruals.

b.     Pricing & Valuation: Price all investments held by the fund using Bloomberg or third-party pricing support, ensuring accuracy and compliance with industry standards.

c.     Reconciliation: Process trades, positions, P&L, and cash reconciliations. Develop and implement new reconciliation templates using data management tools.

4.    Collaboration and Coordination:

Includes (but are not limited to) the following tasks:

a.     Team Liaison: Work closely with the Investor Services and Treasury Services teams for activities related to the funds under your supervision.

b.     Client Implementation: Assist in managing the client implementation process for new business, ensuring the timely rollout of NAV packs and associated deliverables.

5.    Audit and Financial Statement Preparation

Includes (but are not limited to) the following tasks:

a.     Financial Reporting: Manage the year-end audit and financial statement preparation process for all assigned funds, ensuring compliance with regulatory requirements and internal policies.

6.    System Setup and Client Onboarding

Includes (but not limited to) the following tasks:

a.     Client Onboarding: Lead the operations team in client onboarding processes and system setups, focusing on interface programming and portfolio reporting.

b.     Process Understanding: Develop a thorough understanding of the structure, capital activity processes, waterfall calculations, and valuation intricacies for both closed-ended and open-ended funds.

7.     Risk and Compliance Responsibilities:

Includes (but not limited to) the following tasks:

a.     Compliance Tasks: Perform routine compliance checks and adhere to company risk and compliance processes and policies.

b.     Record Keeping: Maintain organized records of compliance documents and reports.

c.     Assistance in Audits: Provide support during internal audits and compliance reviews.

d.     Research Support: Assist in research for compliance-related queries and regulatory information.

e.     Learning and Development: Engage in learning opportunities to understand compliance principles and regulations.

Additional Strategic Expectations

·       Share insights to enable development of new processes and procedures that will create business efficiency and support delivery of client excellence in service.

·       Maintain awareness of industry, regulatory, jurisdictional, and other trends that could affect the business.

·       Contribute to the creation, development and implementation of new products and solutions to accommodate the businesses continuous changing needs.

·       Collaborate cross-functionally with operations staff, business users, project, and implementation managers to achieve desired and elegant solutions.

Required Skills & Experience

Are you getting excited? We are! Before we get too carried away, there are a few requirements you’ll need to check off before you can apply for the position:

·       Education: Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. Professional certification (CFA, CAIA, CPA, etc.) is a plus.

·       Experience: 2-4+ years of experience in private equity fund administration or a similar role, with a focus on NAV calculations, financial reporting, and investor allocations.

·       Familiarity with private equity fund administration software such as Investran, Bloomberg, eFront, or similar systems.

·       Strong Excel skills, including data analysis, financial modeling, and report generation.

·       Solid understanding of fund structures, including capital calls, distributions, and performance metrics (IRR, multiple of invested capital).