Title: Fund Accounting Manager
Location: Downtown LA – Hybrid
Overview: Pacific Executive Search has been engaged on a search for a Fund Accounting Manager. This role offers an exciting opportunity for a candidate with a strong background in fund accounting to join a prestigious investment management firm. As the Fund Accounting Manager, you will be responsible for preparing and reviewing financial statements, managing fund expenses, and ensuring compliance with regulatory requirements. With a competitive salary and the chance to work with a highly experienced team, this position is ideal for someone looking to take their career in fund accounting to the next level.
– Prepare and review month-end NAV and closing packages generated from internal accounting system.
– Calculate management fees, fund level IRRs, hurdle rates, incentive fees, and carry allocations in accordance with fund documents.
– Process payments, review and book fund level expenses, and establish accrual schedules.
– Prepare and review quarterly financial statements for accuracy and completeness.
– Maintain a report of unfunded commitments, recallable capital, and available capital.
– Prepare and review capital call and distribution notices for various funds.
– Complete audit inquiries and requests.
– Prepare borrowing and repayment notices, issuer orders, borrowing base reports, and compliance certificates.
– Update borrowing base reports for subscription facilities and asset-backed facilities.
– Assist with RIC and 40act asset-diversification and asset coverage tests, as well as income and distribution tests.
– Review daily cash reconciliations and assist with cash balance management through credit facilities and other fund level activities.
– Bachelor's degree in Accounting, Finance, or Economics.
– Minimum of 5 years of fund accounting experience, preferably in large investment firms or financial institutions.
– Strong background in alternative investment funds, with a focus on asset backed facilities or CLOs.
– Familiarity with middle market and syndicate loans, private equity structures, RICs and BDCs, and marketable and private holdings.
– General understanding of credit facility agreements and covenant compliance requirements.
– General understanding of fund-governing documents, PPMs, LLC/LP agreements, IMA, etc.
– General knowledge of various legal structures such as LLC/LPs, parallel funds, and master feeder structures.
Professional Skills Qualifications:
– Excellent verbal and written communication skills.
– Strong interpersonal skills to establish good working relationships with internal and external teams.
– Excellent organizational skills and attention to detail.
– Strong analytical and problem-solving capabilities.
– Advanced knowledge of Excel.