Lead Fund Accounting Specialist

2 weeks ago

Los Angeles, California, United States The TCW Group Full time
Position Overview

The Senior Investment Fund Accountant plays a crucial role within the Client and Fund Reporting-Alternatives (CFR) division at The TCW Group. This position is dedicated to collaborating with various internal and external stakeholders to ensure the precise and timely completion of fund-level reporting for the Private Credit Group. Responsibilities encompass fund accounting, financial reporting, management of credit facilities, compliance with RIC/40 Act regulations, capital calls and distributions, tax reporting, fund expenses, and treasury services.

This role necessitates coordination and communication with multiple departments within The TCW Group, including corporate accounting, client and fund reporting, investment operations, legal, tax, and compliance.

The Senior Fund Accountant will work closely with members of the CFR team as well as the Private Credit Group.

Key Responsibilities

Fund Accounting
  • Generate month-end NAV and closing packages utilizing data from the internal accounting system alongside manual calculations.
  • Calculate management fees, fund-level IRRs, hurdle rates, incentive fees, and carry allocations in accordance with governing fund documents.
  • Record fund-level transactions and investor capital activities in the internal accounting system, establishing accrual schedules and performing additional manual calculations as required.
  • Prepare quarterly and annual financial statements along with the accompanying Notes to the Financial Statements.
  • Maintain a report detailing capital activity, including unfunded commitments, recallable capital, and available capital.
  • Facilitate the allocation of capital calls and distributions, issuing notices as necessary.
  • Compute and provide investor allocations of quarterly P&L for investor statements.
  • Assist with inquiries and requests during quarterly and annual audits.
  • Complete ad hoc projects as assigned.
Credit Facility Management
  • Draft borrowing and repayment notices, issuer orders, borrowing base, and compliance certificates.
  • Update borrowing base reports for subscription facilities and asset-backed facilities, along with related activities.
  • Support the preparation of Monthly and Payment Date Reports for Credit Facilities.
Tax and Compliance
  • Assist with RIC and 40 Act asset-diversification and asset coverage tests, as well as various income and distribution assessments.
Cash Management
  • Review daily cash reconciliations and aid in managing cash balances through the utilization of credit facilities and other fund-level activities.
Qualifications
  • Bachelor's degree in Accounting, Finance, or Economics.
  • A minimum of 3 years of experience in fund accounting, preferably within large investment firms or financial institutions, with a focus on alternative investment funds, particularly asset-backed facilities or CLOs.
Professional Skills
  • Exceptional verbal and written communication skills, with the ability to build strong working relationships with internal and external teams.
  • Outstanding organizational skills and meticulous attention to detail.
  • Strong analytical and problem-solving abilities.
  • Critical thinking skills and a capacity for rapid learning.
Preferred Qualifications
  • Advanced proficiency in Excel.
Compensation Overview

Base Salary: For positions based in CA & NY, the anticipated base salary range is $100k to $130k. This range is indicative only.

Additional Compensation: Eligible for consideration for an annual discretionary bonus.

Benefits: Eligible for The TCW Group's comprehensive benefits package.

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