Director - Fund Accounting

StepStone Group•La Jolla, CA

17h•$175,275•Hybrid

About The Position

We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed. Position Overview StepStone Group LP (StepStone) seeks a Director for its La Jolla, CA location. Essential Job Functions Management and oversight of the day-to-day accounting and financial statements of the Company’s fund partnership vehicles focused on Private Equity (PE) investments in primary and secondary limited partnership investments and direct equity co-investments. Primary point of contact representing the fund accounting teams responsible for oversight of StepStone’s PE secondaries fund vehicles. Manage and oversee a portfolio of funds, including the review of all work prepared by the fund administrator, and reviewing and/or preparing quarterly unaudited and annual audited financial statements in accordance with GAAP and IFRS. Coordinating the preparation of annual audits with outside CPA firms, and computing partner allocations and producing capital account statements. Managing processes for delivering quarterly and annual investor reports and other ad-hoc communications. Responsible for preparation and review of investor data requests and responses to ad-hoc investor inquiries received by StepStone’s Investor Relations teams. Calculating management fees, distribution waterfalls and carried interest. Partnership with the Investment Operations team to ensure that the PE secondaries asset management team receives data and information necessary to make informed capital management decisions to improve the investor experience and optimize investor returns. Coordinate with Investment Operations, Legal, Investor Relations and Business Development to support the Partner, Head of Fund Accounting in representing the Fund Accounting team when discussing reporting and operations considerations in fund formation and side letter negotiations with clients. Support the investment team through reviewing valuations, understanding the structure of new investments, including the reporting and tax implications and reviewing legal agreements. Monitoring the Fund’s cash positions and prepare cash projections as needed and managing the Fund’s line of credit facilities, including arranging borrowings and repayment, quarterly compliance certificates, and reviewing of interest and unused fee calculations.

Requirements

Must have at least a Bachelor’s degree in Accounting, Finance, Business Administration, Economics, Management Science or a related field and 3 years of experience in the job offered or as an Accounting Manager, Audit Manager, Fund Controller or related role in the financial, accounting or audit services sectors.
Two (2) years of required experience must include: Managing private equity secondary and co-investment fund accounting and operations, including all treasury, fund operation and accounting aspects; Overseeing the reporting and operations for rated note feeder and collateralized financing products; Evaluating the performance of third-party administrators and managing vendor relationships; Interpreting and analyzing complex fund governing document and side letter terms; Performing dry powder analysis to support private equity investment and funding; Reviewing financial statements for close-ended private equity funds in alignment with U.S. GAAP and IFRS; Utilizing private equity industry standards and knowledge to review investment valuations; Reviewing cash projections and managing investment/fund level cash flow activities; Applying accounting standards on fund financial reporting, including ASC 820 (FAS 157), ASC 946 & ASC 740; and Managing subordinate personnel.

Responsibilities

Management and oversight of the day-to-day accounting and financial statements of the Company’s fund partnership vehicles focused on Private Equity (PE) investments in primary and secondary limited partnership investments and direct equity co-investments.
Primary point of contact representing the fund accounting teams responsible for oversight of StepStone’s PE secondaries fund vehicles.
Manage and oversee a portfolio of funds, including the review of all work prepared by the fund administrator, and reviewing and/or preparing quarterly unaudited and annual audited financial statements in accordance with GAAP and IFRS.
Coordinating the preparation of annual audits with outside CPA firms, and computing partner allocations and producing capital account statements.
Managing processes for delivering quarterly and annual investor reports and other ad-hoc communications.
Responsible for preparation and review of investor data requests and responses to ad-hoc investor inquiries received by StepStone’s Investor Relations teams.
Calculating management fees, distribution waterfalls and carried interest.
Partnership with the Investment Operations team to ensure that the PE secondaries asset management team receives data and information necessary to make informed capital management decisions to improve the investor experience and optimize investor returns.
Coordinate with Investment Operations, Legal, Investor Relations and Business Development to support the Partner, Head of Fund Accounting in representing the Fund Accounting team when discussing reporting and operations considerations in fund formation and side letter negotiations with clients.
Support the investment team through reviewing valuations, understanding the structure of new investments, including the reporting and tax implications and reviewing legal agreements.
Monitoring the Fund’s cash positions and prepare cash projections as needed and managing the Fund’s line of credit facilities, including arranging borrowings and repayment, quarterly compliance certificates, and reviewing of interest and unused fee calculations.