Hedge Fund and Private Equity Accountant

Stone Coast Fund Services•Portland, ME

1d•Hybrid

About The Position

As a member of the Fund Accounting team, the Private Equity Fund Accountant is responsible for accounting and client service for private equity funds and some traditional hedge funds. The role includes preparing net asset values and financial statements, accounting for fund and investor activity, producing reports, and supporting board meetings, audits, and regulatory requests. The accountant reviews fund offering and commitment documents to understand how fund terms and lifecycle events affect accounting and communicates with internal and external parties to resolve fund accounting matters. The role offers hybrid work within Maine, with at least two days per week in the office. Fully remote work may be considered for residents of the states listed in the posting. Stone Coast describes its work as team-oriented and provides training and resources to support employees.

Requirements

Fund accounting experience in a private equity fund, private equity administrator, or other financial institution, with knowledge of private equity processes and products.
Familiarity with the types of investments and strategies held by private equity funds.
Ability to learn complicated concepts quickly.
Proficiency with Microsoft Office, including advanced Excel skills such as formulas, pivot tables, and filtering.
Superior verbal and written communication skills.
Four-year college degree, preferably in Accounting, Finance, Business Management, or Economics.

Nice To Haves

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

Responsibilities

Prepare daily, monthly, and quarterly net asset values for private equity funds and some traditional hedge funds, including cash and portfolio reconciliations, investment valuations, and income and expense accruals.
Prepare calculations and notices for fund events such as capital calls, distributions, and subsequent closes.
Calculate carried interest, including differing waterfall structures and tiers and preferred returns.
Allocate profit and loss to investors and shareholders, and calculate management and performance fees for hedge funds, private equity funds, and their investors.
Prepare private equity financial statements in accordance with regulatory and industry standards.
Review client offering documents, private placement memorandums, commitment documents, and other materials, and account for their impacts over the fund lifecycle.
Process and record fund expense payments and ensure cash wire requests are completed accurately and promptly.
Generate and deliver fund and investor reports to fund managers and investors for assigned clients.
Prepare and deliver supporting materials for board meetings, financial statements, audits, and regulatory requests related to assigned clients.
Communicate with internal and external entities on fund accounting matters and assist with issue resolution.

Benefits

Medical plans, including HSA options
Dental and vision plans
Company-paid life insurance and AD&D, with additional voluntary coverage options including short- and long-term disability
401(k) with employer match and immediate vesting
Student loan repayment support
Health savings and flexible spending accounts, including medical and dependent care
Paid time off and holidays aligned with the NYSE market calendar
Employee assistance program
Commuter benefits with employer contribution
Employee referral program
Optional critical illness, accident, and hospital insurance coverage
Fully paid community service days