Manager, Waterfall Ancillary Services

Waterfall Specialist

Citco is a global leader in fund services, corporate governance and related asset services with staff across 50 office locations worldwide. With more than $1.8 trillion in assets under administration, we deliver end-to-end solutions and exceptional service to meet our clients' needs.

Seeking a Waterfall Specialist to join the PE/RE Waterfall and Onboarding Team. This specialized team of professionals are subject matter experts on all aspects of distribution waterfall calculations, supporting Citco's global fund accounting teams across multiple offices and lines of business.

This is a client facing role that requires the ability to synthesize complex and bespoke legal agreements into standardized calculation models, as well as communicate the results and calculation methodologies behind those models in an efficient and precise manner. The Waterfall Specialist will be responsible for the onboarding of new and existing clients to Citco Waterfall, Citco's proprietary waterfall calculation engine, and supporting the application as enhancements and development are required. Additionally, the Waterfall Specialist will serve as a primary point of contact for Citco's global client base in regard to industry standards, best practices, and carried interest calculation methodologies.

The Waterfall Specialist will demonstrate leadership skills in coaching, motivating team members and dealing with clients and counterparts in other groups. The successful person will be expected to learn and develop expertise in all aspects of the waterfall and on-boarding process, system configuration, and fund accounting, as well as participate in firm-wide initiatives and thought leadership.

Your role includes:

• Read and understand Limited Partnership and side-letter agreements, specifically the distribution waterfall provisions contained therein
• Function as a Subject Matter Expert in relation to all aspects of distribution waterfall calculations across multiple investment strategies and structures
• Fully document the calculation requirements associated with a fund's distribution waterfall calculations, inclusive of specific Limited Partner provisions, to support the on-boarding of funds to Citco's waterfall calculation models
• On-board funds to Citco Waterfall, Citco's proprietary calculation engine (inclusive of on-boarding waterfall structures, calculation methodologies, Limited Partner waterfall terms, and mapping to source-system accounting data.)
• Where necessary, complete the analysis, design, setup & testing of build Excel-based calculation models based on the relevant fund documentation and source-system accounting data
• Support Citco's global Fund Accounting teams in relation to hypothetical and realized waterfall calculations, as well as audit support and ad-hoc requests
• Work with Citco's dedicated development staff to provide business requirements and support in relation to modifications and enhancements to Citco Waterfall
• Where necessary, participate in the Business Development process to facilitate demos of Citco's waterfall technology, as well as establishing Citco's expertise in relation to waterfall calculations
• Coordinate with all relevant teams to ensure internal workflows will meet client needs and regulatory controls.
• Coordinate with both internal and external stakeholders to ensure all necessary data is captured and migrated for client reporting and calculation models.
• Contribute to on-going discussions on operational process and best practices; document and implement process improvements.
• Maintain a pro-active customer focus at all times.

About you:

• 3-5 years of fund accounting experience in either a Private Equity Fund, Private Equity Fund Administrator, or other financial institution where the accountant has gained financial products knowledge
• Knowledge of US/Canadian GAAP and other comprehensive basis of accounting
• Experience in reviewing and preparing waterfall calculations
• Project management skills with attention to detail and proven ability to multi-task
• Bachelor's degree in Accounting, Finance, or Economics
• Strong written and verbal communication skills
• Working knowledge of Excel and Word essential, experienced user of the SunGard Investran PE accounting platform highly desirable.

Our benefits:

Your well-being is of paramount importance and central to our success here at Citco. Citco offers a comprehensive and competitive total rewards package to support your career success and personal needs. Your base salary will be determined by several factors such as the role, experience, skillset, market conditions, etc. Furthermore, qualifying positions can participate in an annual discretionary bonus pool based on company profitability and individual contributions. Our comprehensive benefits package includes medical, dental, and vision coverage, short and long-term disability benefits, a retirement savings plan, tuition reimbursement, mental health and wellness support, parental leave, and more. Additional details about our total rewards package will be shared during the hiring process.

At Citco, we take pride in fostering an inclusive culture by prioritizing the hiring of people from diverse backgrounds. Our culture is a source of pride and strength, fostering innovation, mutual respect, and collaboration. We warmly welcome and encourage applications from people with disabilities. If you require any accommodations to make our recruitment process more accessible for you, please let your recruiter know.

As an equal opportunity employer, Citco adheres to making all employment and personnel decisions without discriminating based on race, color, creed, religion, sex, physical disability, mental disability, age, marital status, sexual orientation, citizenship status, national or ethnic origin, or any other protected status. We believe that an inclusive workforce not only enriches our company but also drives us towards greater success.

Please note that this job description is not intended to be all-inclusive. Our employees may perform other job-related duties as needed to meet the ongoing needs of our organization.

Job Info

• Job Identification 14814
• Job Category Fund Accounting
• Locations Park Central 7, Dallas, TX, 75251, US (Hybrid)