One of the country's 10 largest pension firms is seeking an experienced Hedge Fund Accountant to join their team. Competitive salary, bonus and full relocation available.
The Private Markets Funds and Alpha Operations division is responsible for the management of over $17 billion in alternative investments. The fund accountant will be responsible for analyzing and onboarding complex, non-traditional investments that involve non-standard contracts, trade processing, clearance, valuation and documentation. This position is responsible for reviewing and checking the quality of investment transactions entered by other team members in the eFront system and performing other daily, monthly and quarterly analytic checks to ensure the accuracy and completeness of the assigned portfolios. Additionally, this position independently performs investment and portfolio level accounting procedures, research and oversight of third-party accounting and reporting service providers for a variety of complex accounting activities to support Investment Book of Record (IBOR) and Accounting Book of Record (ABOR).
- Understand and apply middle office and accounting (IBOR/ABOR) principals at the portfolio and asset class levels.
- Approve processing of complex investment transactions knowing the purpose and uniqueness of IBOR versus ABOR.
- Analyze and advise on the setup to onboard complex, non-traditional investments that involve non-standard contracts, trade processing, clearance, valuation, and documentation.
- Approve the investment transactions related to purchases and capital call payments, distribution receipts, investment sales, and other cash flows in accordance with fund documents and generally accepted accounting principles.
- Research and resolve escalated daily position and cash reconciliation discrepancies.
- Oversee complex management and performance fees for private market asset class investments.
- Verify computation of fund valuation based on an agreed upon risk framework.
- Assess quality of General Partner and third-party investment firms’ investment reporting.
- Review operational due diligence related information and assess need for enhanced General Partner and third-party investment firms’ transaction and accounting review.
- Perform and/or direct third parties to conduct in-depth review of investment activities reported by General Partner and/or third-party investment firm.
- Administer and oversee the daily, weekly, and monthly accounting/reporting activities on IBOR and ABOR.
- Direct and/or validate accounting by our custodian bank for assigned activities and/or other third-party providers.
- Examine and analyze accounting records to assess accuracy, completeness, including Net Asset Value, Realized and Unrealized Gains/Losses, expenses and accruals.
- Document and assess accounting and operational risks, as well as formulate and implement mitigating control activities.
- Be an accounting and reporting point of contact within the assigned specialized area to work with process owners, service providers, advisors, administrators, and other interested parties, informing such parties of the issues/events and gathering necessary information and guidance on industry best practice.
The ideal candidate:
- Bachelor’s Degree in Business, Accounting, Finance, Economics, or related field.
- Minimum of 5+ years of experience operationally servicing investment teams.
- Experience in middle office, back office, and/or performance in an investment firm.
- Broad understanding of all asset classes, valuation methodologies, and core investment lifecycle processes and related accounting activities: account structure, valuation, capital calls/distributions, General Partner statements, company level (i.e. constituent level) versus fund level activities, fees/rebates/claw backs/waivers.
- Proven business acumen, communication, managerial, negotiation, and project/process management experience and skills.
- Ability to develop, manage, and oversee external business partners’ service levels.
- Experience identifying and maintaining a sound internal control and data quality environment.
- Experience with eFront System and alternative investment third party services is a plus.
- CPA, a plus