Senior Associate, Fund Accounting
wafraNew York (NY)
About the role
Position: Senior Associate, Fund Accounting
Location: New York, NY (on-site 5 days/week)
Reports to: Vice President, Fund Accounting
Position Summary:
The Associate of Fund Accounting is a key role within the Operations department and will be responsible for daily fund operations and overseeing the accounting and financial reporting of a portfolio of complex private equity funds within Wafra’s Alternative Investment Division. The Fund Accounting Senior Associate will be responsible for daily fund operations and overseeing the accounting and financial reporting prepared by external fund administrators for a group of private equity funds, funds of hedge funds, or hybrid funds (“Private Funds”). This role will also be responsible for analyzing financial data, performing various reconciliations, and preparing support for the fund’s business activities.
Duties and Responsibilities:
- Perform reviews over NAVs prepared by external fund administrators and verify investment positions and accuracy of transactions for a portfolio of complex private equity funds
- Review fund governing documents, offering documents, subscription documents, side letters, and investment management agreements to ensure proper application of fund terms
- Assist with review and validation of management fees and waterfall calculations to ensure their accuracy and compliance with fund governing documents
- Monitoring of investment transactions, preparation of portfolio track record and analysis
- Review ILPA compliant capital call and distribution notices, investor capital statements, and quarterly reports to investors
- Perform review of financial statements and footnotes, ensuring consistency with relevant reporting framework
- Perform carried interest allocation, analytics on carried interest movement, understand carried interest terms such as distribution waterfall and GP clawback
- Ad-hoc reporting and deliverables
Requirements:
- CPA/CA is requiredBA/BS in Accounting or Finance
- Minimum 3-7 years of fund accounting experience/audit experience in private equityBS/MS degree in Accounting or Finance
- Detail-oriented, strong organization and communication skills with a demonstrated ability to communicate and work with colleagues at different levels
- Solutions based mentality and approach to problem solving
- Ability to thrive in a fast-paced, growing environment
- Proficient with Microsoft suite of applications (Excel, Word, PowerPoint)
- Knowledge of private equity/hedge fund industry required
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