VP Fund Controller & Reporting Fund Accounting

Arlington, VA
Feb 21, 2021
Feb 24, 2021
Full Time
Position Summary The position is the primary point of contact for Fund Management teams and responsible for the day-to-day operations of company funds. Primary responsibilities include, but are not limited to, managing and establishing goals/strategic direction for the team of 1 manager, 1 AVP, 2 senior accountants and 2 staff accountants. The team 's responsibilities include comprehension of the pipeline of fund activity, including upcoming purchase and sale transactions, and managing/coordinating the operations and reporting of such activity. This includes: Facilitating credit facility borrowings/repayments with the applicable banks, including monitoring and compliance reporting, Communicating the timing and details of capital calls/distributions with PA Fund Operations, Determining the treatment of transactions under US GAAP and coordinating relevant disclosures. Preparing / reviewing portfolio analysis used in making carried interest decisions, and working with other teams to ensure the timely recording of carried interest transactions. Reviewing financial statements, compliance reporting and other investor reporting to ensure proper reflection and allocation of activity. Coordinate local jurisdiction books and records activity and review with third party administrators This position also manages the team relationship with key stakeholders, such as Fund Mgmt, Corporate Accounting, External Auditor, and Internal Audit. The VP also manages the relationship and interaction with third party administrators to ensure seamless / efficient processes, as well as quality of work product. This position is part of the Partnership Accounting leadership team and is actively involved in setting the team strategy, and acts as the Partnership Accounting lead for the implementation of Investor Service-wide goals and initiatives. This includes systems implementations, business process re- engineering efforts, and ensuring a strong control environment. This position reports to the Principal '" Partnership Accounting (Fund Controller/Reporting) and works closely with and takes direction from the head of Partnership Accounting. Key Duties/Responsibilities Review and support the periodic LP reporting for fund groups: Review all annual and quarterly financial statements prepared in accordance with GAAP and other key reports (including investor capital account statements). Liaise with external tax service providers regarding investment transactions to support the completion of the fund 's tax returns and other tax documents. Act as lead on investment transaction testing with external auditors and draft relevant disclosures in support of the annual audit of the fund 's financial statements. Supervise various business operations for all relevant fund groups ensuring compliance with policies and procedures: Ensure compliance of business activities (calls, distributions, carry calculations) with partnership agreements. Ensure accurate accounting and allocation of fund activity and activities that impact firm books. Determine the applicable treatment of distribution proceeds received by the Fund and review the distribution waterfall calculations. Additionally, preparing projected waterfall / carry amounts for the equity group in determining carry projections or clawback analysis. Monitor legal compliance with various Fund agreements and arrangements. Supervise, develop human capital Set goals and provide performance feedback on a regular basis. Coach, mentor and guide team members to enhance their professional development, growth and knowledge so that they may provide value to the group and the firm as a whole. Help to minimize and resolve team related issues or concerns Support the training of new employees on the various accounting and reporting systems and policies, as well as the business. Various tasks and initiatives: Lead initiatives that help the department/firm meet strategy and goals, including implementing efficiencies in business processes. Assist Fund Mgmt in preparation of committee materials, investor presentations and fundraising efforts. Qualifications Knowledge, Skills and Experience Minimum of 12 years of combined public accounting and private accounting experience required Minimum of 7+ years at the supervisory or managerial level Education and Certifications Bachelors Degree in Accounting or Finance, required MBA / Masters preferred CPA strongly preferred Position-Specific Technical Requirements Experience with reviewing GAAP financial reporting Working knowledge of GAAP and tax issues related to partnership accounting Ability to manage projects and tasks Ability to manage and develop employees Excellent project management and planning skills Proficient Microsoft Office skills Willing to take the lead on tasks Strong interpersonal skills Strong organizational skills and detail oriented Excellent communication skills - both written and oral Demonstrated ability to work effectively as part of a team

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