Associate Director, Fund Accounting

Job Description

Cresset is a firm built by clients, for clients. As an independent, award-winning multi-family office and private investment firm, we are reimagining the way wealth is experienced. Our purpose is to help ensure that both wealth and life are fully optimized—integrated, intentional, and aligned with each client’s vision of success.

We provide access to the caliber of talent, ideas, and investment opportunities typically available to the largest single-family offices and institutions. Our approach is personalized, entrepreneurial, and client-first.

Proudly owned by our clients and employees, Cresset was built to endure. We are creating a 100+ year firm—one focused on delivering an exceptional experience, not only for the families we serve but for the team that serves them. Recognized by Barron’s among the nation’s top RIA firms, and as one of the industry’s best places to work,* Cresset is guided by long-term relationships, shared success, and a belief that wealth should serve a life well lived.

Key Responsibilities

The Private Fund Accountant is responsible for managing and maintaining accurate financial records for private investment funds. This includes reconciling various accounts, reviewing financial statements, and ensuring compliance with relevant regulations. The role involves collaborating with internal teams and external service providers (Administrators, Auditors, Tax Preparers, Legal etc.) to gather necessary information and address any discrepancies. Additionally, the Private Fund Accountant will assist in the audit and tax return process for their funds.

Responsibilities will include:

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• Perform the day-to-day accounting for private equity funds and related investment vehicles.
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• Review quarterly and annual NAV and financial statement packages, include investor reporting.
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• Manage recurring client deliverables and additional client-requested reporting.
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• Manage, monitor, and provide guidance to the outsourced accounting provider(s).
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• Assist with the calculation of quarterly management fee and carried interest waterfall calculations.
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• Manage the funds' cash balances to determine the need for capital calls, distributions, and redemptions.
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• Review and assist with capital call and distributions notices to investors.
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• Collaborate with other teams throughout the firm, including legal, client services, portfolio management, etc.
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• Support investment and client relationship personnel on ad-hoc requests.
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• Assist in special projects as requested.
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• Oversee the wind down and termination of any funds.
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• Assist with the coordination, management and completion of the annual audits of each fund.
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• Assist with completion of annual federal and state tax returns and K-1 distribution for each fund.
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• Establish and enforce proper accounting methods, policies and principles.
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• Assist with maintenance of fund portfolio accounting software, internal controls and process improvement as needed.
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Qualifications

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• Bachelor's degree in Accounting is required; CPA preferred
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• 3+ years of experience of accounting experience preferably working in public accounting experience, financial markets and/or with financial products.
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• Accounting experience in managing private equity, hedge funds or similar types of alternative products is strongly preferred.
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• Knowledge of partnership accounting as well as exposure to financial reporting, auditing, and tax. Private equity experience is strongly preferred.
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• Experience auditing or preparing financial statements for investment funds.
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• Experience with reviewing the underlying investments to determine fair value.
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• Possess the financial acumen to understand the underlying investments in each fund.
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• Strong communication skills, both written and verbal.
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• Technical accounting knowledge including GAAP and curiosity to research and work with subject matter experts on technical areas.
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• Familiarity with partnership tax returns and K-1s.
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• Understanding of internal control environments.
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• Strong drive to create efficient and organized processes to ensure all deadlines are met.
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• Ability to establish and maintain effective working relationships with all levels of management and staff throughout the organization.
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• Detail orientated with strong analytical skills.
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• Service oriented.
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• Advanced proficiency in Microsoft Excel.
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• Strong organizational skills: ability to work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced work environment.
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What We Offer:

At Cresset, we focus on people first. As a service business, our people are our assets. Engaging our clients and employees is our highest priority. Salary will be based on factors including, but not limited to, experience, licenses/certifications, industry knowledge, and geographic location. Cresset offers a competitive compensation package including an annual incentive and a benefits package to all full-time employees including medical, dental, vision, life insurance, 401(k) retirement plan, health savings accounts, short and long-term disability insurance, voluntary critical and accident insurance, and pre-tax parking and transportation programs.

Equal Employment Opportunity

It is the policy of Cresset to ensure equal employment opportunity (EEO) for all employees and applicants for employment without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, or related conditions), national origin or ancestry, age, disability, veteran status, uniformed servicemember status, sexual orientation, gender identity, status as a parent, genetic information (including testing and characteristics), or any other characteristic protected by applicable federal, state, or local law. It is Cresset’s policy to comply with applicable laws concerning the employment of persons with disabilities, including reasonable accommodation for applicants and employees with disabilities.

Everything Starts With Culture.

Our Vision

We exist to optimize wealth and elevate life—giving clients the time, clarity, and trusted partnership to pursue what matters most.

*Disclosures related to awards, recognitions, and rankings available here.

Cresset refers to Cresset Capital Management, and all its respective subsidiaries and affiliates. Cresset Asset Management, LLC, also conducts advisory business under the names of Cresset Sports & Entertainment, CH Investment Partners, and Cresset Capital. Cresset provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset also provides investment advisory services to investment vehicles investing in private equity, real estate, and other investment opportunities. Cresset Asset Management, LLC is an SEC registered investment advisor. SEC registration does not imply any specific level of skill or training.