Private Capital Fund Finance
1 month ago
iCapital is powering the world's alternative investment marketplace. Our financial technology platform has transformed how advisors, wealth management firms, asset managers, and banks evaluate and recommend bespoke public and private market strategies for their high-net-worth clients. iCapital services approximately $187 billion in global client assets invested in 1,504 funds, as of April 2024.
iCapital has been named to the Forbes Fintech 50 for seven consecutive years ; a three-time selection by Forbes to its list of Best Startup Employers ; and a three-time winner of MMI/Barron's Solutions Provider award (See link below).
About the Role
iCapital is looking for an Associate to join its Fund Finance Private Equity team to focus on Private Capital Fund Accounting and Administration duties. This individual will work closely with other team members, vendors, management, and clients on a variety of accounting and reporting processes. This role will report to the Vice President, Fund Finance Private Equity.
Responsibilities
- Work with third-party administrators to ensure all quarterly valuations are completed in a timely manner, general ledger entries are accurate, and investments are valued in accordance with fair value market principles.
- Review fund expenses and accruals and compare them to annual budgets to identify outliers and propose adjustments as necessary.
- Review investor allocations to confirm profits, losses, and fees are calculated in accordance with the partnership operating agreements. Approve investor capital account statements on a quarterly basis.
- Review and approve quarterly management fee and platform calculations.
- Determine review of third-party administrator's preparation and coordination of investor capital calls and distributions, in coordination with the third-party administrator, including investor allocation calculations and call and distribution notices.
- Reconcile accounting data between iCapital and third-party administrators, using automated tools and applications. Coordinate with internal and/or external parties to resolve discrepancies.
- Liaise with underlying fund managers when required.
- Facilitate and work with iCapital Technology and Product teams to improve the overall end user's experience.
- Work with iCapital's implementation teams with regards to new business and fund launches
- Provide support and oversight for both backbook and frontbook iCapital clients.
- Monitor fund's compliance with the partnership operating agreement terms.
- Review of the preparation of annual fund financial statements in accordance with US GAAP.
- Oversee and coordinate the fund's annual audit process including managing relationships with external auditors.
Qualifications
- Bachelor's degree in accounting or finance
- 2-5 years of financial services or Asset Management accounting and operations experience
- Alternative Investments Fund Administration and Operations is a plus
- Advanced degree and/or credentials, or progress towards MBA, CPA, CFA, or CAIA Designation is a plus
- Passion for the application of innovative technology
- Proven ability to multi-task and work both independently and as a team player in a fast-paced, demanding environment
- Strong verbal, written, and interpersonal communication skills
- Willingness to learn new topics and work in an evolving business environment
- Organized and detail oriented with big picture capability
Benefits
The base salary range for this role is $80,000 to $115,000. iCapital offers a compensation package which includes salary, equity for all full-time employees, and an annual performance bonus. Employees also receive a comprehensive benefits package that includes an employer matched retirement plan, generously subsidized healthcare with 100% employer paid dental, vision, telemedicine, and virtual mental health counseling, parental leave, and unlimited paid time off (PTO).
We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office four days, with the flexibility to work remotely one day. Every department has different needs, and some positions will be designated in-office jobs, based on their function.
For additional information on iCapital, please visit Twitter: @icapitalnetwork | LinkedIn: | Awards Disclaimer:
iCapital is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics
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