Accountant - Fund Operations

Position Overview:

The roles and responsibilities of the Fund Accountant on the Fund Accounting Operations team can be broken down to five main areas: Budget/Accruals, Treasury, Net Asset Value, Fund Accounting Reporting, and Investor Activity.  The Fund Accountant will support the day-to-day fund accounting and financial oversight of several funds, including both US and non-US funds.  The responsibilities include but are not limited to:

Essential Functions:

• Maintaining complete and accurate ledgers of expenses, both for budgets and accruals.
• Complete ongoing analysis of budgets, accruals, and actual expenses monthly.
• Understanding of all service agreements with third-parties.
• Calculate and track accruals to ensure proper payments daily and/or monthly management fees, redemptions, third-parties, etc.
• Analyze, summarize, and report expense run rates for each fund monthly.
• Update N-2 Fee table annually and as requested.
• Coordinate with Investment Operations team for daily investment fundings.
• Complete wire submissions for capital call investment activity in a timely manner.
• Complete wire call backs with external custody team, when necessary.
• Complete daily bank reconciliations for incoming and outgoing wires.
• Complete weekly cash forecasting to ensure appropriate cash balances in local currencies for upcoming investment activity, subscriptions, redemptions, and distributions.
• Analyze sharesheets for any discrepancies and resolve when necessary.
• Responsible for striking NAV on a daily/monthly cadence for each responsible fund.
• Ensure that the cash and investment activity are booked at third-party administrator to ensure that Daily NAVs can be completed by Investment Operations team.
• Compare NAV packages received from fund administrator to estimated NAVs in a timely manner to ensure accuracy.
• Complete 80% test upon completion of each Daily NAV determination.
• Utilize uniform NAV Summary template and distribute to internal stakeholders.
• Regularly communicate with Corporate Finance for NAV updates, including estimated management/incentive fees, NAV, and performance
• Review and update Contact Sheets and tax forms for accuracy as needed.
• Ensure UMB timely generates and distributes 1099s annually for each fund.
• Liaise with Regulatory & Reporting team for financial reporting and tax reporting.
• Determine and calculate deferred tax assets/liabilities monthly.
• Calculation of redemptions and distributions and provide oversight of the fund administrator quarterly.
• Ensure annual investor 1099s are accurate and distributed timely.
• Coordinate with the operations teams for investor activity to ensure accurate records.

Education and Experience Requirements:

• Must possess a four-year college degree with a major in Accounting
• Four to six years of accounting or audit experience
• Previous experience with Investment Company Accounting and ASC 820 (FAS 157) preferred
• A strong understanding of SEC regulations, with a particular focus on the Investment Advisers Act of 1940 (“40 Act”)

Knowledge, Skills, and Ability Requirements:

• Strong verbal and written communication skills
• Strong Microsoft Excel experience
• Ability to multi-task and manage priorities against key deadlines

Other Attributes:

• Must be able to work independently, but contribute in a team-oriented environment
• CPA preferred