Private Equity Department
Due to its innovative technology and service offering, the firms closed-end funds team is expanding. The team currently services a mix of private equity, real estate and hybrid structures. The team works with its clients to collaborate on new technology solutions and client service models to support unique structures and operating models to meet an evolving and growing area within the asset management industry. Working in the PE department gives you exposure to new developments and forward-thinking approaches within our industry.
Job Description
As a Private Equity Associate you will be responsible for the execution of challenging tasks, within the guidelines and procedures provided by the firm and under the supportive supervision and guidance of a Private Equity Supervisor and Manager. The Private Equity Associate will receive induction training tailored to key topics related to your role. In addition, there will be client-focused, technical on-the-job training, throughout the course of the graduate program.
Responsibilities
The combination of tasks required to be executed will vary depending on both client structure, client requirements and business needs and will include:
- Assist in the production of monthly and quarterly NAV, ensuring completion of specified tasks per NAV PE checklists
- Calculate and process capital calls, capital distributions and statements for closed-end funds
- Prepare investor P&L allocations and fee calculations as part of monthly and quarterly NAV packages
- Prepare waterfall calculations
- Prepare performance calculations including IRRs
- Perform cash, position and market value reconciliations
- Escalate fund accounting issues and aged items to the Private Equity Supervisor
- Ensure all positions are priced correctly
- Calculate and process income and expense accruals including trading accruals
- Comply with the firms defined checklists, procedures and controls
- Assist in the audit process and financial statement preparation if required
- Converse and liaise with internal service departments to resolve miscellaneous fund issues
- Ensure pre-agreed internal and external deadlines are met consistently
- The firm operates a client focused structure which provides a wide range of experience to all levels of employees. As such a Private Equity Fund Accounting Associate should be flexible and willing to adapt.
Pre-requisite Knowledge, Skills and Experience
- Accounting, Economics, Finance, Mathematics or Business Degree
- IT Literate with an emphasis on Excel
- Positive attitude with a willingness to learn
- Strong verbal and written communication skills
- Strong attention to detail and well organized
- Strong analytical and problem-solving skills
- Ability to be flexible and work under pressure to tight deadlines
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