Manager, Waterfall Ancillary Services

The Citco Group • Jersey City, NJ

20h

About The Position

Citco is seeking a Waterfall Specialist to join its PE/RE Waterfall and Onboarding Team, a specialized group of subject matter experts supporting global fund accounting teams across multiple offices and lines of business. This client-facing role involves translating complex and bespoke legal agreements into standardized distribution waterfall calculation models and clearly communicating the calculation results and methodologies.

The role is responsible for onboarding new and existing clients to Citco Waterfall, Citco’s proprietary waterfall calculation engine, and supporting the application as enhancements and development are required. The Waterfall Specialist will also serve as a primary contact for Citco’s global client base on industry standards, best practices, and carried interest calculation methodologies. The successful candidate will develop expertise in the waterfall and onboarding process, system configuration, and fund accounting, while demonstrating leadership in coaching and motivating team members and collaborating with clients and other groups. The role also participates in firm-wide initiatives and thought leadership.

Requirements

• 3–5 years of fund accounting experience in a Private Equity Fund, Private Equity Fund Administrator, or other financial institution where the accountant gained financial products knowledge.
• Knowledge of US/Canadian GAAP and other comprehensive basis of accounting.
• Experience reviewing and preparing waterfall calculations.
• Project management skills, attention to detail, and proven ability to multitask.
• Bachelor’s degree in Accounting, Finance, or Economics.
• Strong written and verbal communication skills.
• Working knowledge of Excel and Word.

Nice To Haves

• Experience as a user of the SunGard Investran PE accounting platform.

Responsibilities

• Read and understand Limited Partnership and side-letter agreements, particularly their distribution waterfall provisions.
• Serve as a subject matter expert on distribution waterfall calculations across multiple investment strategies and structures.
• Document fund distribution waterfall calculation requirements, including specific Limited Partner provisions, to support onboarding to Citco’s waterfall calculation models.
• Onboard funds to Citco Waterfall, including waterfall structures, calculation methodologies, Limited Partner waterfall terms, and mapping to source-system accounting data.
• Where necessary, analyze, design, set up, and test Excel-based calculation models using fund documentation and source-system accounting data.
• Support global Fund Accounting teams with hypothetical and realized waterfall calculations, audit support, and ad-hoc requests.
• Work with dedicated development staff to provide business requirements and support modifications and enhancements to Citco Waterfall.
• Where necessary, participate in business development by facilitating demonstrations of Citco’s waterfall technology and establishing Citco’s expertise in waterfall calculations.
• Coordinate with relevant teams to ensure internal workflows meet client needs and regulatory controls.
• Coordinate with internal and external stakeholders to ensure necessary data is captured and migrated for client reporting and calculation models.
• Contribute to discussions on operational processes and best practices, and document and implement process improvements.
• Maintain a proactive customer focus.
• Coach and motivate team members and collaborate with clients and counterparts in other groups.

Benefits

• Annual discretionary bonus pool for qualifying positions, based on company profitability and individual contributions.
• Medical coverage.
• Dental coverage.
• Vision coverage.
• Short- and long-term disability benefits.
• Retirement savings plan.
• Tuition reimbursement.
• Mental health and wellness support.
• Parental leave.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager