Senior Funds Administrator

MAI WEALTH MANAGEMENT, INC.•Independence, OH

About The Position

MAI sponsors several private funds, mostly private equity and real estate funds. The structures are both limited partnerships and limited liability companies. The Senior Funds Administrator will lead a team within the Funds Administration Department on the day-to-day operational requirements to fulfill and execute the department’s objectives. This role will also work with external teams responsible for private fund accounting/administration including establishing and maintaining vendor relationships. This position will ensure that the processes and controls are put into place and are being followed and that service levels are being met.

Requirements

BS or BA degree in Accounting, Finance, Economics or related Business.
Experience with a financial institution, investment advisor, public accounting firm, audit, hedge funds, or private funds.
Knowledge of GAAP financial accounting rules.
Knowledge of federal and state taxation laws and regulations.
Proficiency in Microsoft Suite (Excel, Outlook, PowerPoint, Word) and Adobe Acrobat Pro.

Nice To Haves

Experience in SalesForce a plus.

Responsibilities

Support the daily activities of fund administration.
Responsible for ensuring timely and accurate payments, capital calls and distributions are made.
Lend support on audit issues which may include unique matters.
Able to have fact finding tax conversations with tax service professionals or to call states and bring information back to enable team to make decisions with the alternatives team.
Analyze and summarize fund documents and other legal documents.
Work on projects with little to no oversight based around periodic check-ins with Team Leader.
Help with new fund launch items including working with legal, collecting data for regulatory filing, setup bank accounts and create internal infrastructure for the fund.
Engage with acquired firms to educate on the Private Fund operations; will engage in training on completing subscription documents and other paperwork necessary to admit new investors to a fund.
Handle vendor relationships through the lifecycle of the relationship, including new vendor due diligence, selection process, onboarding and maintaining ongoing vendor relationships.
Help in the preparation of data for regulatory reporting and maintain data in a format that puts us in a strong position to respond to SEC Exam requests.
Run data and file cleanup projects that will help across multiple Funds.
Educates, coaches, mentors, and develops the less experienced team members driving employee engagement and building leadership bench strength.
Collaborate with other departments and business leaders.
Utilize technology to create efficiency.
Work in a dynamic environment, where the roles and responsibilities are evolving in response to new funds, processes, and procedures.
Regular review of best practices to create an ongoing environment of constant improvement.
Perform any other functions that may be required to support fund administration team.