Title: Fund Accounting Manager
Industry: Financial Services - Investment Management
Location: Downtown Los Angeles - Hybrid
Overview: Pacific Executive Search has been engaged on a search for a Fund Accounting Manager. This role offers an exciting opportunity for a candidate with a strong background in fund accounting to join a prestigious investment management firm. As the Fund Accounting Manager, you will be responsible for preparing and reviewing financial statements, managing fund expenses, and ensuring compliance with regulatory requirements. With a competitive salary and the chance to work with a highly experienced team, this position is ideal for someone looking to take their career in fund accounting to the next level.
Description:
Responsibilities:
- Oversee the preparation and review of month-end Net Asset Value (NAV) and closing documentation generated from the internal accounting system.
- Calculate management fees, fund-level internal rates of return (IRRs), hurdle rates, incentive fees, and carried interest allocations in accordance with the governing documents of the funds.
- Manage the processing of payments, record and review all fund-related expenses, and establish accrual schedules.
- Prepare quarterly financial statements and ensure their accuracy and completeness through thorough review.
- Maintain a report detailing capital activities, including unfunded commitments, recallable capital, and available capital.
- Draft and review capital call and distribution notifications for multiple funds.
- Address audit inquiries and fulfill related requests.
- Prepare notices for borrowing and repayments, issuer orders, and compliance certificates related to credit facilities.
- Update borrowing base reports for subscription and asset-backed facilities, along with associated activities.
- Support RIC and 40 Act asset-diversification and coverage tests, as well as various income and distribution assessments.
- Review daily cash reconciliations and assist in managing cash balances through credit facilities and other fund-level operations.
Qualifications:
- Bachelor's degree in Accounting, Finance, or Economics.
- A minimum of 5 years of experience in fund accounting, ideally within large investment firms or financial institutions, with a strong focus on alternative investment funds, particularly asset-backed facilities or collateralized loan obligations (CLOs).
- Familiarity with middle-market and syndicated loans, private equity structures, RICs, BDCs, as well as marketable and private holdings.
- Basic understanding of credit facility agreements and compliance with covenants.
- Strong critical thinking skills, with the ability to review information critically and demonstrate analytical capabilities.
- Exceptional verbal and written communication skills, with the ability to build effective working relationships with both internal and external stakeholders.
- Outstanding organizational skills and meticulous attention to detail.
- Proficient analytical and problem-solving skills.
- Advanced proficiency in Excel.