Fund Accounting Manager

2 weeks ago

Dorchester Center, United States Providence Equity Full time
Company Overview

Providence Equity Partners is a leading private equity investment firm specializing in growth-focused sectors such as media, communications, education, and technology across North America and Europe. The firm combines a partnership approach with extensive industry knowledge to assist management teams in building outstanding businesses and achieving significant returns. Since its inception in 1989, Providence has invested over $36 billion in more than 175 private equity portfolio companies. With its headquarters in Providence, RI, the firm also operates offices in New York, London, Boston, and Atlanta.

Role Summary

The Finance Manager for Fund Accounting will play a pivotal role in overseeing the daily operations of the Fund Limited Partner reporting team. This position will collaborate closely with the Controller to supervise and enhance processes, evaluate the implications of industry and regulatory developments, define and implement the group's strategic objectives, and optimize the use of current technology to enhance operational efficiency.

Key Responsibilities

The Finance Manager for Fund Accounting will be tasked with the following:

Financial Reporting and Audit Management:

• Conduct reviews of transactional data throughout the quarter to ensure data accuracy and leverage insights when evaluating quarterly financial statement packages.

• Oversee third-party administrators and coordinate the preparation of quarterly fund financial statements.

• Analyze complex financial reporting items, including waterfall calculations.

• Facilitate the year-end audit process, serving as the primary liaison with auditors to secure clean audit opinions for each fund.

• Monitor and investigate changes in industry standards regarding US GAAP reporting requirements and related disclosures for quarterly financial statements.

Accounting Operations:

• Manage the capital call and distribution processes, including calculations and the review of investor notification packages.

• Oversee credit facility drawdowns, repayments, record-keeping, and stakeholder relationships.

• Review calculations of quarterly management fees and operating expenses.

• Assist with investor communications.

• Review weekly cash activities and support bank account management processes.

• Conduct ad-hoc reporting and special projects as required within the finance team.

Fund Legal Operations and Compliance:

• Support annual and quarterly regulatory filings.

• Coordinate reporting and processes related to Luxembourg and Cayman Islands-based funds.

• Review Limited Partnership Agreements and Side Letters to ensure compliance with established terms.

• Assist with fund compliance reporting, including quarterly NAV calculations.

Essential Skills:

• Strong technical and analytical abilities with the capacity to interpret complex legal documents and accounting standards.

• Strategic mindset for problem-solving and solution development.

• Ability to work independently, identify issues proactively, and propose solutions while managing multiple priorities in a dynamic environment.

• Demonstrated leadership and initiative in analytical thinking and quality of work.

• Commitment to raising standards and enhancing service quality.

Qualifications
The ideal candidate will possess a distinguished track record and reputation. Given the substantial responsibilities of this role, the successful candidate will be a seasoned professional. Additionally, the candidate should have:
  • A Bachelor's degree in Accounting or Finance.
  • CPA certification or CPA candidacy is highly preferred.
  • Proficient skills in Microsoft Excel.
  • A minimum of 6 years of professional experience, preferably in the private equity sector or with a Big 4 public accounting firm with exposure to private equity.
  • Proven success in managing direct reports.
  • Experience with Workday and Investran is advantageous but not mandatory.
  • Meticulous attention to detail and a strong sense of responsibility towards work output.
  • Excellent verbal and written communication skills.
Providence Equity Partners L.L.C. is an equal opportunity employer and adheres to all applicable federal, state, and local fair employment practice laws. The firm strictly prohibits discrimination, harassment, or retaliation against any individual or applicant for employment based on protected characteristics.

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