Manager, Waterfall Ancillary Services

The Citco Group Limited • Dallas, TX

7h

About The Position

Seeking a Waterfall Specialist to join the PE/RE Waterfall and Onboarding Team. This specialized team of professionals are subject matter experts on all aspects of distribution waterfall calculations, supporting Citco’s global fund accounting teams across multiple offices and lines of business.

This is a client facing role that requires the ability to synthesize complex and bespoke legal agreements into standardized calculation models, as well as communicate the results and calculation methodologies behind those models in an efficient and precise manner. The Waterfall Specialist will be responsible for the onboarding of new and existing clients to Citco Waterfall, Citco’s proprietary waterfall calculation engine, and supporting the application as enhancements and development are required. Additionally, the Waterfall Specialist will serve as a primary point of contact for Citco’s global client base in regard to industry standards, best practices, and carried interest calculation methodologies.

The Waterfall Specialist will demonstrate leadership skills in coaching, motivating team members and dealing with clients and counterparts in other groups.  The successful person will be expected to learn and develop expertise in all aspects of the waterfall and on-boarding process, system configuration, and fund accounting, as well as participate in firm-wide initiatives and thought leadership.

Requirements

• 3-5 years of fund accounting experience in either a Private Equity Fund, Private Equity Fund Administrator, or other financial institution where the accountant has gained financial products knowledge
• Knowledge of US/Canadian GAAP and other comprehensive basis of accounting
• Experience in reviewing and preparing waterfall calculations
• Project management skills with attention to detail and proven ability to multi-task
• Bachelor’s degree in Accounting, Finance, or Economics
• Strong written and verbal communication skills
• Working knowledge of Excel and Word essential, experienced user of the SunGard Investran PE accounting platform highly desirable.

Nice To Haves

• experienced user of the SunGard Investran PE accounting platform highly desirable

Responsibilities

• Read and understand Limited Partnership and side-letter agreements, specifically the distribution waterfall provisions contained therein
• Function as a Subject Matter Expert in relation to all aspects of distribution waterfall calculations across multiple investment strategies and structures
• Fully document the calculation requirements associated with a fund’s distribution waterfall calculations, inclusive of specific Limited Partner provisions, to support the on-boarding of funds to Citco’s waterfall calculation models 
• On-board funds to Citco Waterfall, Citco’s proprietary calculation engine (inclusive of on-boarding waterfall structures, calculation methodologies, Limited Partner waterfall terms, and mapping to source-system accounting data.)
• Where necessary, complete the analysis, design, setup & testing of build Excel-based calculation models based on the relevant fund documentation and source-system accounting data
• Support Citco’s global Fund Accounting teams in relation to hypothetical and realized waterfall calculations, as well as audit support and ad-hoc requests
• Work with Citco’s dedicated development staff to provide business requirements and support in relation to modifications and enhancements to Citco Waterfall
• Where necessary, participate in the Business Development process to facilitate demos of Citco’s waterfall technology, as well as establishing Citco’s expertise in relation to waterfall calculations
• Coordinate with all relevant teams to ensure internal workflows will meet client needs and regulatory controls.
• Coordinate with both internal and external stakeholders to ensure all necessary data is captured and migrated for client reporting and calculation models.
• Contribute to on-going discussions on operational process and best practices; document and implement process improvements.
• Maintain a pro-active customer focus at all times.

Benefits

• Citco offers a comprehensive and competitive total rewards package to support your career success and personal needs.
• Our comprehensive benefits package includes medical, dental, and vision coverage, short and long-term disability benefits, a retirement savings plan, tuition reimbursement, mental health and wellness support, parental leave, and more.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees