Hedge Fund and Private Equity Accountant

Stone Coast Fund Services•Portland, ME

2d•Hybrid

About The Position

We are seeking hard-working applicants ready to be trained for an exciting role as a Private Equity Fund Accountant within our Fund Accounting team. This position offers hybrid remote work flexibility within Maine, with fully remote opportunities considered for residents of specific states. The role involves understanding and completing daily/monthly/quarterly Net Asset Value (NAV) preparation for Private Equity Funds and some traditional hedge funds. Responsibilities include cash and portfolio reconciliations, investment holdings valuations, income and expense accruals, and calculating fund event notices. The accountant will also calculate carried interest, understand waterfall structures, allocate profit and loss, and calculate management and performance fees. Additionally, the role requires preparing Private Equity-specific Financial Statements, reviewing fund client documents, processing expense payments, and generating client and investor reports. Communication with internal and external entities and assisting with issue resolution are also key aspects of the position.

Requirements

Fund accounting experience in either a Private Equity Fund, Private Equity Administrator, or other financial institution where the accountant has gained PE process and products knowledge
Familiarity with the types of investments and strategies held by Private Equity funds
Must be able to learn complicated concepts quickly
Proficiency with Microsoft Office is essential, advanced Excel (formulas, pivot tables, and filtering) area must
Demonstrates superior verbal and written communication skills

Nice To Haves

Experience working with portfolio and investor accounting systems, in particular Advent Geneva World Investor a plus
Experience working in an environment with internal control procedures, operating procedures, workflows, control checklists, and other elements of an internal control system a plus
Experience with financial reporting, information security and client, vendor, and risk management a plus

Responsibilities

Understand and able to complete daily/monthly/quarterly Net Asset Value (NAV) preparation for Private Equity Funds along with some traditional hedge funds
Perform Cash and Portfolio reconciliations
Conduct Investment Holdings Valuations
Manage Income and Expense Accruals
Prepare calculations and notices for fund events such as capital calls, distributions, and subsequent closes
Calculate carried interest, understanding of differing waterfall structures/tiers including preferred returns
Allocate profit and loss to investors/shareholders including the calculation of a variety of management and performance fees for our Hedge Funds and Private Equity funds and their investors
Prepare Private Equity-specific Financial Statements, adhering to regulatory and industry standards
Review and understand private equity fund clients’ offering documents, PPMs, commitment documents, and other materials, including the impacts to the fund during various periods of the fund’s lifecycle
Process and record fund expense payments
Ensure cash wire requests are completed accurately and timely
Generate and deliver fund and investor reports to fund managers and investors of assigned clients
Prepare and deliver supporting materials as necessary for board meetings, financial statements and audit and regulatory requests related to assigned clients
Communicate with internal and external entities on fund accounting matters and assist in issue resolution