Fund Accounting Manager

Fund Accounting Manager

$115,000 - $130,000k

Finance & Accounting Professional, are you ready to take your career to another level with an organization that will have your interest in mind first? For the past 20 years, CPS has been working with the largest employers, specifically for their accounting and finance needs. We work strategically with our clients to find and match the best accounting and finance professionals to help improve their business.

Here at CPS, Inc, we only work with our clients to directly place quality talent for permanent and full-time positions. Our experienced recruiters spend time getting to know you, what type of work and company culture you like, and what your career goals are moving forward. We use our experience and knowledge of our client companies to find the right match for you. If you are looking to build your career, ready to take on new challenges, and gain the experiences you have always wanted, we want to work with you!

Position Summary

We are seeking an experienced Fund Accounting Manager with expertise in both Private Equity and Hedge Fund accounting to lead fund accounting operations and oversee a team responsible for servicing complex alternative investment structures. This role will manage the accounting, financial reporting, investor reporting, and operational activities for a portfolio of private equity, venture capital, hedge fund, and related investment vehicles.

The ideal candidate will possess a strong understanding of fund structures, capital activity, investment valuations, partnership accounting, and regulatory reporting. This individual will serve as a key liaison between investment managers, auditors, tax advisors, custodians, and investors while ensuring the accuracy and timeliness of all financial reporting deliverables.

Key Responsibilities

Fund Accounting & Financial Reporting

• Manage the accounting and reporting for a portfolio of private equity, venture capital, hedge funds, fund-of-funds, and related investment structures.
• Oversee monthly, quarterly, and annual close processes, including review of journal entries, reconciliations, and supporting schedules.
• Prepare and review fund financial statements in accordance with U.S. GAAP and applicable reporting standards.
• Review net asset value (NAV) calculations and investor allocation schedules.
• Ensure accurate accounting for complex investment transactions, including:
  • Portfolio investments
  • Security trades
  • Derivatives and alternative investments
  • Realized and unrealized gains/losses
  • Management fees and carried interest
  • Incentive allocations and performance fees
• Monitor and review investment valuations in accordance with valuation policies and fair value guidance.

Private Equity Fund Accounting

• Oversee accounting for capital calls, distributions, waterfalls, carried interest calculations, and investor allocations.
• Review investment acquisition and disposition accounting.
• Monitor partnership capital accounts and investor ownership percentages.
• Prepare and review schedules related to commitments, unfunded obligations, and portfolio activity.
• Support portfolio company reporting and consolidation requirements where applicable.

Hedge Fund Accounting

• Review daily, monthly, and quarterly NAV calculations.
• Oversee accounting for securities, swaps, options, futures, and other complex financial instruments.
• Monitor income allocations, expense accruals, and investor subscriptions/redemptions.
• Reconcile custodial, broker, and prime broker statements.
• Review performance fee and management fee calculations.

Client & Stakeholder Management

• Serve as the primary accounting contact for fund managers and investment advisors.
• Coordinate with auditors, tax preparers, legal counsel, custodians, and third-party administrators.
• Present financial results and operational updates to internal leadership and external stakeholders.
• Support investor inquiries related to financial reporting and capital activity.

Leadership & Team Management

• Supervise, mentor, and develop fund accountants and senior fund accountants.
• Review work prepared by team members and ensure adherence to quality standards.
• Assist with staff training, workload management, and performance evaluations.
• Drive continuous process improvements and automation initiatives.

Compliance & Risk Management

• Ensure compliance with partnership agreements, fund governing documents, and regulatory requirements.
• Maintain strong internal controls and operational procedures.
• Support annual audits, tax filings, regulatory reporting, and investor reporting obligations.
• Stay current on accounting guidance and industry developments impacting alternative investments.

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