The Fund Accounting Manager will oversee the day-to-day accounting operations for a portfolio of private equity funds, ensuring accurate and timely reporting, compliance with accounting standards, and efficient fund operations. This role reports directly to the Fund Controller and works closely with the finance, tax, operations, and investor relations teams.
Key Responsibilities:
Fund Accounting & Financial Reporting
- Oversee the preparation and review of monthly, quarterly, and annual fund financial statements, ensuring accuracy in the reporting of assets, liabilities, and equity.
- Prepare and review investor capital account statements, distributions, and allocation of income and expenses.
- Assist in the preparation of GAAP-compliant financial statements for multiple funds, ensuring adherence to firm and regulatory standards.
- Work with external auditors to support the annual audit process for the funds.
- Ensure accurate calculation and reporting of NAV (Net Asset Value) for each fund.
Fund Operations & Compliance
- Maintain and reconcile the general ledger for each fund and related entities.
- Review fund transactions, including capital calls, distributions, management fees, carried interest, and investments.
- Monitor and report on fund cash flows, ensuring sufficient liquidity for operations and capital calls.
- Ensure compliance with internal policies, fund agreements, and regulatory requirements.
- Assist with tax-related reporting for the funds, including information needed for K-1 preparation and tax compliance.
Investor Relations & Reporting
- Prepare reports for investors, providing timely and accurate financial information, performance metrics, and fund updates.
- Respond to investor inquiries regarding fund performance, distributions, and other financial matters.
- Support the Fund Controller in coordinating with investor relations teams on reporting requirements and investor communications.
Team Management & Collaboration
- Supervise and mentor junior fund accounting staff, providing training and development opportunities.
- Collaborate with internal teams such as the tax, legal, and operations departments to ensure proper fund accounting practices are followed.
- Identify opportunities to streamline accounting processes and enhance operational efficiency.
System & Process Improvement
- Participate in system implementations, updates, or process improvements related to fund accounting and reporting systems.
- Provide input on enhancing reporting tools, data management, and automation for more efficient financial operations.
Qualifications & Experience:
- Bachelor's degree in Accounting, Finance, or a related field; CPA or equivalent certification preferred.
- 8+ years of experience in fund accounting, with a focus on private equity or alternative investments. 3rd party administrator experience is also a plus.
- Strong knowledge of private equity fund structures, capital calls, distributions, management fees, and carried interest.
- Familiarity with GAAP, IFRS, and relevant regulatory reporting requirements.
- Proficient in accounting software and systems
- Excellent organizational, analytical, and communication skills.
- Ability to manage multiple priorities and meet deadlines in a fast-paced environment.