Staff Accountant

Staff AccountantFormulary Financial is building the world's first AI-native, comprehensive fund administration services business. Formulary offers expert-driven services across the investment lifecycle—including accounting, reporting, compliance, audit, capital activity, and investor communications—powered by an AI-native platform designed to keep data accurate, synthesized, and accessible in real time. In less than a year, Formulary has grown to manage billions in assets on its platform across clients and design partners that represent some of the leading and largest asset managers worldwide.Formulary is on a mission to transform fund administration from error-prone paperwork into data-driven intelligence and expert service for investors. By implementing a high-touch service delivery model, data systemization, and AI-powered solutions in fund operations, Formulary is taking on the defining challenges of the asset management industry. Private markets span thousands of GPs and trillions in assets under management; the industry stands at the brink of a seismic transformation driven by the convergence of evolving investor expectations and rise of emerging technologies.What Impact You Will Own and DriveFund Administration and Client Service Execution: Drive key analyses, calculations, and inputs that go into producing client-facing reports.Own Core Fund Accounting functions: Preparation and/or assistance in preparation of client deliverables and functions, LPA calculations, and underlying inputs required for generating accurate client-facing reports (e.g. bank reconciliations, capital calls and distributions)Maintain and Oversee Live Data Systems: Ensure the accounting system is kept current by processing bank transactions, valuation adjustments, and real-time client inquiries.Guarantee Reporting Quality: Ensure absolute accuracy and timely completion of all fund accounting reporting deliverables, including financial statements, capital calls, and capital account statements.Validate Performance Metrics: Produce and confirm the reliability of all portfolio and fund-level performance metrics (e.g., IRRs, TVPI).Cross-Functional Compliance Support: Actively assist with specialized workflows related to tax, audit, compliance, and regulatory reporting requirements.Operational Excellence: Understand how to use technology as a resource to streamline operations and deliver excellent client service. Actively explore opportunities and ideas for automation and systemization improvements.Champion Systemization: Identify, propose, and spearhead the launch of automation and systemization enhancements across fund administration processes.Drive Product Development: Actively provide detailed feedback on new technology features and functionality, and generate requirements and ideas for future automation solutions. Help drive new featuresClient Service: Support the team in nurturing and growing trust-based relationships with clients.Thought Partnership: Identify opportunities to serve as a thought partnership to general partners and limited partners.Client Communications: Serve as the first line of defense for all client inquiries, needs, and opportunities.What You Need1-2 years of fund accounting experience in venture capital, growth equity or private equity asset classes.Track record of achievement at a leading fund administration services business.Bachelor's degree in Accounting or related field required.Passion for technology and a desire to use technology to improve business operations.Experience scoping out system requirements and implementing new systems.Superior proficiency with financial statements and fund accounting tools and solutions (different general ledgers, bookkeeping systems)A keen interest in using AI and machine learning to solve complex problems.Practical experience with the entire investment lifecycle (from fund formation to fund dissolution) for venture capital, growth equity, and private equity asset classes.Comprehensive grasp of industry best practices for fund management and operations, including regulatory, tax, audit, compliance and other areas.Experience with Limited Partnership Agreements, LLC Operating Agreements, and other legal requirements. Understanding of traditional close-ended fund structures, SPVs, GP entities, blocker entities, parallel entities, and other investment structures (e.g. evergreen, master/feeder, and series fund structures).Thorough understanding of GAAP (Generally Accepted Accounting Principles) and regulatory compliance, specifically as related to calculations and journal entries.Proficiency in preparing fund financial statements (Statement of Assets and Liabilities, Schedule of Investments) and comprehensive Limited Partner (LP) reporting, including capital account statements.Knowledge of tax, audit and compliance regulations and requirements.Experience with SOC 1 and SOC 2 controls to develop and maintain robust internal systems to ensure data security, operational reliability, and meet client audit requirements.Fluency with software solutions and openness to explore and adapt modern technologies and resources to deliver an enhanced and more efficient client service experience.Extra / BonusDemonstrated impact as a founding member of a fund administration services business.Experience in leveraging AI/ML to solve different problems in fund administration.Track record in achieving operational excellence and efficiencies through tech-enabled automation and systemization.CPA certification.Who You AreYou set high goals, are driven to become the best at what you do and do not settle.You put the needs, priorities and interests of clients at the heart of everything you do, never compromising customer experience for anything else.You nurture an environment that attracts, develops and empowers the brightest minds to collaborate and achieve audacious goals.You are mission-driven and motivated to build a category-defining business from scratch.You possess relentless drive, grit, and the inspiration to work at an early-stage startup.You act like an owner, deal well with ambiguity, and push for results without constant guidance.You are an ambitious problem-solver, balance speed and quality, and can effortlessly navigate complex situations.You value excellence, integrity, and the meritocracy of ideas.You are a strong communicator and collaborator who thrives in a hybrid work environment.You provide and receive feedback with honesty, care, and thoughtfulness.You are curious and have a rare growth mindset.You have a superior attention to detail and are committed to ensure accuracy and excellence in client service, experience, and deliverables.Why Join Our MissionBuild an Industry-Defining Business: Play a key role in creating a groundbreaking fund administration services business that will reinvent the asset management industry.Partner with Experienced Leaders: Join a team of repeat founders, world-class fund administration, AI and asset management veterans, tier-one investors, and forward-thinking clients.Compensation and Equity: Competitive base salary, comprehensive benefits, and equity ownership in a high-growth, funded venture.Shape Culture and Values: Be part of an agile startup where your contributions directly influence the organization's culture and long-term success.Please email your resume to View email address on click.appcast.io