Associate, REIT Fund Accounting, PFS - Princeton, NJ

BlackRock•Princeton, NJ

7d•$95,000 - $127,500•Hybrid

About The Position

HPS Investment Partners, a part of BlackRock, is a leading global, credit-focused alternative investment manager. The BDC Accounting team's primary responsibility is the books and records of a real estate private credit evergreen trust. This responsibility includes oversight, review and reconciliation of the books and records with internal teams including Middle Office, Cash Management, and Asset Management / Valuation as well as with external, third-party fund administrators. This responsibility includes NAV calculation and review, management and performance fees, expense review and management and various reporting relating items (SEC filings including 10Q/10-K preparation, board reporting and other management reporting). In addition to the core books and records, the BDC team works closely with Legal on fund setup and operation, with Product Specialist and Investor Relations on ongoing and ad hoc analysis and with Management Company Accounting on AUM, performance and fee reporting and revenue recognition. HPS is seeking to recruit an Associate level fund accounting candidate to join the real estate private credit evergreen team in Princeton, NJ. The candidate will be an integral member of the team responsible for review and reconciliation of the trusts’ books and records, liaising with both internal HPS departments and external third-party fund administrators. The BDC team associate will be involved in the closing of the books including NAV review and reconciliation, fee calculations and partners’ capital statement review among other responsibilities. Additionally, the Fund Accounting Associate will be involved in fund setup and operation and supporting various ad hoc internal and investor requests.

Requirements

Bachelor’s degree in Accounting, Finance, or Economics preferred
3-5 years of combined work experience in a Fund Accounting, and/or public accounting role supporting clients within the financial services industry (preferably within Credit or Asset Management with exposure to Real Estate Credit)
Excellent communication skills, both written and verbal
Ability to work independently with the willingness to constantly think outside of the box
Highly organized and proven ability to execute and manage complex logistics, projects, and tasks under tight time constraints
Strong analytical/logical mindset and attention to detail; extensive experience working with large sets of data is preferred
Fluency required in Excel (VBA knowledge a plus), PowerPoint and Word

Nice To Haves

“Big Four” public accounting experience preferred
CPA preferred

Responsibilities

Working directly with the third-party sub-administrator to coordinate work and review all accounting deliverables to ensure accuracy and conformity with applicable accounting standards
Liaise with administrator, custodian, transfer agent, and other outside vendors
Maintaining shadow books and records and perform reconciliations to sub-administrator’s reporting package
Management fee and incentive fee calculation and review
Review of expenses for accuracy and coordination of accruals and payments
Assisting with preparation of monthly and quarterly reporting deliverables to HPS
Preparation of 10-Q and 10-K SEC filings, as well as management reporting
Analyze complex accounting matters, including revenue recognition, valuation, credit facility accounting, and incentive fee arrangements.
Assisting in preparing reports for the Board of Directors
Be actively involved in Accounting Policy related discussions, understand and communicate the impact to the business, financial results and reporting/disclosure requirements if applicable
Assisting with technology initiatives; lead process improvement initiatives
Providing support and assistance to external auditors in their quarterly review and annual audit procedures
Monitor compliance with regulatory and fund-specific requirements, including leverage, liquidity, and asset coverage tests.
Ad hoc reporting and projects