Firm Overview: Our client offers a curated spectrum of alternative investments across private equity, venture capital, hedge funds, real estate, and private credit. These solutions are offered in a variety of structures across the accreditation and liquidity spectrums including interval funds, tender offer funds, private funds, and direct investments to financial professionals, family offices, and institutions.
Role Overview: The Fund Accountant will play a crucial role in managing the financial operations, accounting, and reporting of investment funds, particularly in alternative asset classes including private equity, hedge funds, real estate, and (or) infrastructure.
Key Responsibilities:
Financial Reporting & Net Asset Value (NAV) Calculation:
• Prepare and review monthly, quarterly, and annual Net Asset Value (NAV) calculations.
• Ensure timely and accurate valuation of portfolio assets, including investments, derivatives, and cash positions.
• Assist in preparing financial statements for the fund, ensuring compliance with accounting standards (e.g., US GAAP, IFRS).
• Work with the investment team to understand portfolio movements and reflect them in the NAV calculations.
Investment & Transaction Processing:
• Record and reconcile complex transactions such as capital calls, distributions, acquisitions, and dispositions.
• Track and monitor fund inflows and outflows, ensuring all transactions are accurately captured in the accounting system.
• Manage capital activities (e.g. Capital commitments, distributions, fees) and ensure proper documentation and accounting treatment.
Compliance & Regulatory Reporting:
• Ensure the fund complies with investment policies, restrictions, guidelines, and regulatory requirements.
• Collaborate with auditors to ensure smooth year-end audit processes and timely filing of reports.
Investor Communications:
• Assist with investor reporting, including investor statements, capital account statements, and performance reports.
• Prepare performance and financial reports for investors and other stakeholders, ensuring accuracy and clarity.
Expense Management:
• Review and monitor fund expenses, including management fees, performance fees, and other operational costs.
• Ensure proper allocation of expenses in accordance with the fund's structure and investor agreements.
Reconciliation & Audit Support:
• Perform daily and monthly reconciliations of cash, positions, and fund balances between the internal accounting system and third-party custodians or administrators.
• Assist with the audit process by providing supporting documentation and addressing auditor queries.
Systems & Process Improvement:
• Leverage accounting software (e.g., Investran, eFront, or similar) to enhance operational efficiency and accuracy.
• Continuously assess and improve accounting processes, controls, and reporting practices.
Tax & Fund Structuring:
• Assist in tax preparation for the fund, ensuring accurate tax reporting for investors.
• Collaborate with legal and tax teams on fund structuring, including determining the tax impact of various transactions and investments.
Skills & Qualifications:
• Bachelor’s degree in Accounting, Finance, or related field (Master’s or CPA preferred).
• 1-5 years of experience in financial services tax, public accounting, or fund accounting, preferably with experience in registered funds and/or alternative investments (private equity, hedge funds, real estate, etc.).
• Understanding of alternative investment structures, accounting principles (US GAAP, IFRS), and regulatory frameworks.
• Experience with accounting software platforms like Investran, eFront, or Advent is a plus.
• Proficient in Microsoft Excel (advanced skills, including pivot tables, etc.).
