Fund Controller - Collateralized Fund Obligation & Structured Products

StepStone Group•Charlotte, NC

2d•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 The Fund Controller, Fund Accounting – CFO & Structured Products will be responsible for accounting, financial reporting, and assist with operational execution for Collateralized Fund Obligation (CFO) products, other structured credit vehicles, and Private Equity vehicles. The Fund Controller acts as the internal subject‑matter expert on CFO structures, bridging Fund Accounting, Treasury, Investment Operations, Capital Markets, Legal, Tax, external auditors, trustees, collateral administrators, and rating agencies. The role is designed to reduce execution risk, internalize institutional knowledge, and establish repeatable operating and accounting standards for a growing structured products platform. In this position, the Fund Controller will manage a team of accountants and various fund administrators. The Fund Controller will also work closely with the Fund Accounting Treasury and Operations teams along with the Investment Operations team.

Requirements

Experience with accounting for structured finance, private equity partnership, and fund of funds
Direct experience with CFOs, CLOs, NAV‑based facilities, or other structured credit products
Deep understanding of fund structures, note issuances, waterfalls, and cash flow mechanics
A Bachelor’s Degree in Accounting or Finance with 12+ years of professional industry experience
Ability to multi-task and manage priorities against fast-paced key deadlines
Ideal candidates will have experience with SEC registered investment advisors
Must be able to work independently but contribute in a team-oriented environment
Previous experience with Investment Company Accounting and ASC 820 (FAS 157) and FIN 48
Strong Microsoft Excel experience
Experience training and managing junior professionals and reviewing the work of others
Strong written and verbal communication skills
Ability to maintain strict confidentiality of client, investment and company information
Ability to problem solve and leverage technology
Acute attention to accuracy and detail
Professional demeanor and an ability to work well in a team environment
Highly proficient in using Excel, Word, and other Microsoft office programs
Willingness and ability to learn and implement new programs and processes

Responsibilities

Own the end‑to‑end fund accounting and financial reporting framework for CFO vehicles, including master/feeder structures, note issuances, equity tranches, and related SPVs.
Serve as an internal expert matter on indenture interpretation and accounting implications, partnering with Legal and auditors on complex or judgmental matters.
Review and challenge work prepared by collateral administrators, trustees, and third‑party fund administrators, ensuring outputs align with governing documents and accounting standards.
Act as the designated CFO product lead for launches and closings, coordinating high‑volume cash activity and multi-party workflows
Oversee funding mechanics, drawdowns, note interest calculations, waterfall allocations, and reserve accounts.
Review work prepared by the fund administrator
Reviewing accounting entries from the Fund Administrator’s accounting and reporting systems
Reviewing and reconciling cash and investment accounts with General Partner reports
Reviewing of investment partnership reports
Reviewing and reconciliation of capital account activity
Review quarterly unaudited and annual audited financial statements in accordance with GAAP
Coordinate preparation of annual audits with outside CPA firm
Review partner allocations and capital account statements
Manage process for delivering quarterly and annual investor reports and other ad-hoc communications
Understand partnership agreements and interpret reporting requirements and partner economics
Review management fees, distribution waterfalls and carried interest for Private Equity vehicles
Corresponding with General Partners regarding accounting/reporting questions, or other issues, as necessary
Corresponding with underlying investors regarding questions, requests, etc.
Respond to investor requests in a timely manner
Perform other duties as requested or as responsibilities dictate
Perform other duties as required, including but not limited to:
Review of K-1s and support for tax reporting and analysis of tax matters
Support for the Compliance team, including preparation of materials for ADV, Form PF, SLT, etc.
Support for other departments across StepStone