Head of Fund Accounting
I am currently recruiting for a Senior Fund Accountant for a Hedge Fund based in the City. While they are relatively young they have grown quickly and already have nearly £2bn AUM.
They are ideally looking for someone with Fund Accounting experience from either a fund administrator or a similar investment management business. The main product knowledge required is for asset-backed securities / derivatives / swaps.
This role doesn't manage a team as the fund accounting is outsourced so you will be shadowing the NAV and updating as necessary. With oversight of a number of funds this is a very broad role with a lot of responsibility.
The primary responsibilities of the Head of Fund Accounting will include, but not be limited to;
- MonthlyNAV Reconciliation to Fund Admin(s)
- Monthly security pricing, market value and pricing method. Ensuring compliance with multiple valuation policies, following up with pricing providers and trading counterparties and compiling and minuting valuation data for committee.
- Reconciliation of monthly gross P&L by line item and P&L type (realised, unrealised, carry, financing).
- Creation, maintenance and reconciliation of appropriate expense accruals for each fund.
- Booking and reconciliation of capital transactions (subscriptions, redemptions, transfers, share class switches etc).
- Income allocation to underlying investors as well as calculation of management and incentive fees across multiple share classes (fee structure, class currency, separate revenue stream etc)
- Development & maintenance of accounting models for direct lending investments and reconciliation of cash and accruals to local admin.
- Oversight of annual fund audits including;
- Providing additional information and calculations to both funds administrator and external auditors.
- Ensuring specific audit requirements are adhered to (US GAAP, IFRS, new SFTR requirements).
- Answering ad-hoc queries from external auditors and liaising with trading desk, legal counsel, operations teams.
- Tax support including;
- Provision of data and calculations to support UK Reporting Fund Status calculations.
- Provision of data to support US tax compliance.
- Tracking of additional relevant data to support tax analysis - e.g. PFIC investments.
- Production ofMIS including but not limited to;
- Monthly attribution analysis.
- Monthly/ YTD/ LTD return data across all funds/share classes.
- Investor related analytics.
- Investor liquidity profiles.
- Monthly paid and accrued fee tracking.
- Supporting and contributing to external reporting including but not limited to;
- Annex IV
- Investor Newsletters
- Ad-hoc investor queries
* Qualified accountant;
* Strong Attention to detail;
* Works well under pressure;
* Able to explain complex matters clearly and thoughtfully;
* Familiarity with ABS, CDS, TRS and Repo