Fund Treasury Associate
3 days ago
AQR is a global investment firm built at the intersection of financial theory and practical application. We strive to deliver concrete, long-term results by looking past market noise to identify and isolate the factors that matter most, and by developing ideas that stand up to rigorous testing. By putting theory into practice, we have become a leader in alternative strategies and an innovator in traditional portfolio management since 1998.
At AQR, our employees share a common spirit of academic excellence, intellectual honesty and an unwavering commitment to seeking the truth. We're determined to know what makes financial markets tick - and we'll ask every question and challenge every assumption. We recognize and respect the power of collaboration and believe transparency and openness to new ideas leads to innovation.
The Team:
The AQR Fund Treasury team is responsible for designing, planning, and executing oversight programs over the following significant business processes:
- Financial Reporting
- Accounting Policy Oversight
- Valuation Oversight
- Expense Management
- Distributor & Intermediary Management
- Board Governance
Your Role:
AQR is seeking a talented, highly motivated, hard-working individual to join the Fund Treasury team. This role has exposure to various internal departments as well as external parties mainly comprised of service providers and vendors. As a result, core requisite skills include that the candidate be articulate, accountable, and function successfully within a team-based environment.
The candidate will support the oversight of the AQR hedge funds, U.S. mutual and collective funds, Luxembourg UCITs and private funds, and will also be involved in performing certain functions related to the Australian domiciled investment companies. Responsibilities will require a working knowledge of investment companies and their activities from an investment, operational, regulatory, governance, expense and financial reporting perspective. The candidate will participate in, and support, new fund development, launch and implementation efforts as well as occasional fund liquidations, and other fund-related initiatives as they arise.
The role is highly visible within the organization and requires working cross functionally in areas including: Portfolio Accounting and Risk Management, Tax, Legal, Compliance, Client Service and the various vendors that provide services to the AQR hedge funds and other AQR products.
This position is accountable for ensuring the financial statements of the AQR products are prepared and filed timely and accurately in accordance with generally accepted accounting principles. The candidate will be expected to stay current on accounting standards for each jurisdiction.
General areas of responsibility include:
- Financial reporting oversight - contribute to the design and execution of procedures and controls that are intended to provide reasonable assurance that the financial reporting objectives are achieved, including ensuring financial statement filings are free of material misstatement due to errors or omission, and are certified, filed and distributed completely, accurately and timely to the appropriate regulators and investors. Responsible for the coordination of audit efforts with service providers and external auditors.
- Accounting oversight - contribute to the design and execution of procedures and controls that are intended to provide reasonable assurance that the accounting books and records are maintained accurately in accordance with the relevant generally accepted accounting principles, including implementation of accounting policies, design and implementation of NAV analytics, and oversight of expense and tax accruals.
- Vendor oversight - assist in managing vendors that contribute to the financial reporting process, including the fund administrators.
- Documentation of walkthroughs and risk assessments - perform and document walkthroughs of significant business processes that impact the financial reporting process. Design controls mappings and risk assessments that will be used as the basis for the financial reporting oversight model.
- Accounting Policy- follow developments in US GAAP and Lux GAAP relevant to the products' investments. Ensure that the implications to the AQR Funds of such developments are well understood and that our accounting policies remain appropriate. Provide financial analysis, guidance and counsel to management, as necessary, with regard to interpreting accounting/regulatory policy.
- Fund related initiatives - lead/participate in various Fund related initiatives as they arise.
- Oversight of the preparation, review, and issuance of the annual (and liquidation) audited Financial Statements, and management of the audit process.
- Maintenance of financial reporting risk assessments and control mappings.
- Coordination and responses to internal commercial requests.
- Review of the accounting and financial reporting implications of non-standard transactions as well as changes to Fund Governing Documents and Side-letters.
- Bachelor's Degree in Accounting required; CPA/Chartered Accountant/ACCA preferred.
- 3-5 years maximum of experience in the investment management industry, Big 4 Public Accounting firm and/or relevant industry experience is preferred.
- Technical and business knowledge of U.S. investment companies, other various Fund types a plus (e.g., mutual funds, collective investment trusts, UCITS and AIFs) and structures (Master/Feeder, multi-class, etc.), as well as activities from an investment, operational, regulatory, accounting and financial reporting perspective.
- Strong financial reporting background required.
- Understanding of accounting principles and procedures, including in-depth knowledge of U.S. GAAP.
- Strong analytical skills with ability to evaluate issues and propose and implement solutions, with consideration for all downstream implications.
- Ability to contribute in the development and enhancement of the team's technology initiatives and oversight processes and procedures to ensure continuous improvement and efficiency gains.
- Excellent written, verbal and presentation skills; ability to communicate in a clear and concise manner in any format or forum.
- Proactive attitude, commitment to continuous learning.
- Flexibility, strong organizational and time management skills.
The salary range for this role is expected to be $120,000 to $140,000. This is the range that we in good faith believe is accurate for this role at the time of this posting. We may ultimately pay more or less than the posted range, depending upon factors such as skills, experience, location, or other business and organizational needs. This wage range may also be modified in the future.
This job is also eligible for an annual discretionary bonus.
We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and any other benefits to eligible employees.
Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, benefits, or any other form of compensation and benefits that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.
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