Job Description

Job Title : Fund Accountant Private Equity & Hedge Funds

Location: New York, NY and Hackensack New Jersey, USA (5 days onsite)
Department: Fund Accounting / Asset Servicing / Investment Operations

Mandatory Skills Required: Waterfall model of calculative incentive fees

American model of waterfall calculation and European model of waterfall calculation

Job Summary

We are seeking a detail-oriented and analytical Fund Accountant to support Private Equity and Hedge Fund clients within our Asset Servicing and Fund Administration business. The successful candidate will be responsible for ensuring accurate fund accounting, NAV calculations, investor reporting, financial statement preparation, capital activity processing, and regulatory compliance for alternative investment funds.

The role requires strong knowledge of Private Equity, Hedge Funds, Fund Structures, Investment Accounting, and US GAAP while working closely with portfolio managers, fund administrators, custodians, auditors, and investors.

Key Responsibilities

Fund Accounting & NAV Oversight

• Perform daily, monthly, and quarterly fund accounting activities.
• Calculate and validate Net Asset Value (NAV) for Hedge Funds.
• Maintain general ledger and fund books and records.
• Reconcile portfolio holdings, cash positions, and investment transactions.
• Review accruals, income allocations, expense calculations, and management fees.
• Ensure accurate valuation of securities and alternative investments.

Private Equity Fund Accounting

• Process capital calls, distributions, and investor allocations.
• Maintain partner capital accounts and waterfall calculations.
• Record investments, realized/unrealized gains, and carried interest calculations.
• Support calculations for IRR, TVPI, DPI, RVPI, and other performance metrics.
• Track portfolio company investments and valuation adjustments.

Hedge Fund Accounting

• Process complex securities including:
  • Equities
  • Fixed Income
  • Derivatives
  • Options and Futures
  • Swaps
  • Foreign Exchange Instruments
• Monitor corporate actions and security pricing.
• Calculate management and performance fees.

Financial Reporting

• Prepare monthly, quarterly, and annual financial statements.
• Produce investor reports and capital account statements.
• Support preparation of audited financial statements.
• Ensure reporting compliance with US GAAP, IFRS, and fund governing documents.
• Prepare supporting schedules for external auditors.

Reconciliations & Controls

• Perform cash, custody, position, and NAV reconciliations.
• Investigate and resolve accounting breaks and valuation discrepancies.
• Maintain strong internal controls and operational risk management practices.
• Participate in process improvement and automation initiatives.

Client & Stakeholder Management

• Serve as a point of contact for fund managers, investors, auditors, and internal stakeholders.
• Respond to client queries related to accounting, reporting, and fund performance.
• Participate in client onboarding and fund launches.
• Support due diligence requests and regulatory reviews.

Regulatory & Compliance Support

• Ensure adherence to SEC, AICPA, and regulatory reporting requirements.
• Support FATCA, CRS, AML, and investor compliance activities.
• Maintain accurate documentation and audit trails.

Required Qualifications

Education

• Bachelor's Degree in Accounting, Finance, Economics, or related field.
• CPA, CA, CFA, or progress toward professional certification preferred.

Experience

• 3-8+ years of Fund Accounting experience.
• Strong exposure to Private Equity and Hedge Funds .
• Experience within:
  • Global Custody Banks
  • Asset Servicing Firms
  • Fund Administrators
  • Investment Management Firms
  • US Banks

Technical Skills

• Strong understanding of:
  • Fund Accounting
  • Investment Accounting
  • NAV Calculations
  • Partnership Accounting
  • Capital Activity Processing
  • Waterfall Calculations
  • Carried Interest
• Knowledge of US GAAP and financial reporting.

Systems Experience

Experience with one or more of:

• Geneva
• Investran
• Allvue
• eFront
• Advent
• SS&C
• APX
• Yardi
• Bloomberg
• Eagle PACE
• BlackRock Aladdin
• Microsoft Excel (Advanced)

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