Director of Fund Administration, SBIC

Our client, a leading fund administration firm , is seeking a Director of SBIC Fund Accounting to provide senior-level oversight and technical leadership for the accounting and administration of Small Business Investment Company (SBIC) funds and related investment vehicles .

This is a client-facing leadership position responsible for overseeing the delivery of high-quality fund accounting, financial reporting, investor reporting, and regulatory support services to SBIC clients. The Director will serve as a trusted advisor and SBIC subject-matter expert , partnering closely with fund managers, investment professionals, auditors, tax advisors, and internal administration teams.

The ideal candidate will bring significant hands-on experience with SBIC fund accounting and SBA regulatory requirements , combined with the ability to manage client relationships and lead accounting professionals in an outsourced fund administration environment.

Key Responsibilities
SBIC Fund Accounting & Administration

• Oversee the day-to-day accounting and administration of a portfolio of SBIC funds and investment vehicles .

• Provide technical oversight and review of fund accounting activities, including capital activity, investment activity, management fees, expenses, allocations, distributions, and NAV calculations.

• Review and approve monthly, quarterly, and annual fund financial reporting.

• Oversee preparation and review of financial statements and supporting schedules in accordance with U.S. GAAP.

• Ensure accurate accounting for complex debt and equity investments, portfolio company transactions, and investment realizations.

• Review partner capital accounts, allocations, contributions, distributions, and investor activity.

• Establish and maintain appropriate accounting procedures and internal controls for SBIC clients.

SBA & Regulatory Expertise

• Serve as the firm's SBIC accounting and regulatory subject-matter expert .

• Provide guidance to clients and internal teams regarding SBA/SBIC accounting and reporting requirements .

• Oversee preparation and review of SBA-related financial and regulatory reporting.

• Stay current on changes to SBA regulations, accounting standards, and reporting requirements affecting SBIC funds.

• Support clients through SBA examinations, audits, and regulatory inquiries.

• Partner with internal compliance, tax, and accounting teams to resolve complex regulatory and technical accounting issues.

Client Relationship Management

• Act as a senior point of contact for assigned SBIC clients.

• Develop trusted relationships with CFOs, Controllers, fund managers, and other senior client stakeholders.

• Lead client meetings and communicate complex accounting and regulatory matters in a clear and practical manner.

• Proactively identify client needs and opportunities to improve accounting and administration processes.

• Manage escalated client issues and ensure timely resolution.

• Partner with business development and implementation teams when onboarding new SBIC clients.

Team Leadership

• Lead and mentor fund accounting managers, senior accountants, and accounting professionals supporting SBIC clients.

• Review work performed by accounting teams and ensure adherence to established quality and control standards.

• Provide technical guidance on complex SBIC accounting matters.

• Establish appropriate review processes and escalation procedures.

• Support hiring, training, performance management, and development of the SBIC accounting team.

• Help build scalable processes as the firm's SBIC client base grows.

Audit & Financial Reporting

• Serve as the primary accounting contact during client audits.

• Coordinate with external auditors and tax advisors on financial reporting and technical accounting matters.

• Review audit deliverables and respond to auditor questions.

• Ensure timely delivery of annual financial statements and investor reporting.

• Assist clients with tax reporting processes, including coordination of K-1 preparation and related partnership accounting matters.

Process & Technology

• Identify opportunities to improve the efficiency, accuracy, and scalability of SBIC fund administration processes.

• Assist with implementation of new clients, accounting systems, and technology solutions.

• Develop standardized processes and controls for SBIC fund accounting.

• Identify opportunities for automation and process improvement across the firm's SBIC platform.

Required Qualifications

• Bachelor's degree in Accounting, Finance, or related field.

• 8+ years of fund administration experience 

• Direct and significant SBIC fund accounting experience is required.

• Strong understanding of SBA/SBIC regulatory requirements and reporting.

• Strong knowledge of U.S. GAAP and partnership accounting.

• Experience with complex investment accounting, including debt and equity investments.

• Experience reviewing financial statements and supporting fund audits.

• Demonstrated experience managing or mentoring fund accounting professionals.

• Strong client-facing and relationship management skills.

• Excellent written and verbal communication skills.

Preferred Qualifications

• CPA strongly preferred.

• Previous experience at a fund administrator, third-party administrator, or outsourced accounting provider.

• Experience managing multiple fund clients simultaneously.

• Experience supporting SBA examinations or regulatory reviews.

• Experience with private equity, venture capital, mezzanine, private credit, or other alternative investment structures.

• Experience with fund accounting platforms and investor reporting systems.

• Experience onboarding new fund administration clients.

What We're Looking For

The ideal candidate is more than a strong accountant — they are a senior SBIC fund administration professional and client advisor .

They should have the technical depth to answer complex SBIC accounting questions, the leadership skills to oversee a team of fund accountants, and the client-management skills to serve as a trusted partner to fund managers and CFOs.

SBIC experience is a non-negotiable requirement. Candidates whose backgrounds are limited to traditional private equity, hedge funds, or general fund accounting without meaningful SBIC exposure will not be considered.

Key Details:

• Compensation: $200,000 – 225,000 annually

• Benefits: Medical, dental, and vision insurance available

If you meet the qualifications above, please apply today! 

Thank you, 
Margaret Smith
LaSalle Network, Accounting & Finance 

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