Fund Controller - Collateralized Fund Obligation & Structured Products

Fund Controller - Collateralized Fund Obligation & Structured Products

La Jolla | Charlotte

We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world's investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.

Position Overview

The Fund Controller, Fund Accounting CFO & Structured Products will be responsible for accounting, financial reporting, and assist with operational execution for Collateralized Fund Obligation (CFO) products, other structured credit vehicles, and Private Equity vehicles. The Fund Controller acts as the internal subject?matter expert on CFO structures, bridging Fund Accounting, Treasury, Investment Operations, Capital Markets, Legal, Tax, external auditors, trustees, collateral administrators, and rating agencies. The role is designed to reduce execution risk, internalize institutional knowledge, and establish repeatable operating and accounting standards for a growing structured products platform.

In this position, the Fund Controller will manage a team of accountants and various fund administrators. The Fund Controller will also work closely with the Fund Accounting Treasury and Operations teams along with the Investment Operations team.

Essential Job Functions

• Own the end?to?end fund accounting and financial reporting framework for CFO vehicles, including master/feeder structures, note issuances, equity tranches, and related SPVs.
• Serve as an internal expert matter on indenture interpretation and accounting implications, partnering with Legal and auditors on complex or judgmental matters.
• Review and challenge work prepared by collateral administrators, trustees, and third?party fund administrators, ensuring outputs align with governing documents and accounting standards.
• Act as the designated CFO product lead for launches and closings, coordinating high?volume cash activity and multi?party workflows
• Oversee funding mechanics, drawdowns, note interest calculations, waterfall allocations, and reserve accounts.
• Additionally, manage and oversee a portfolio of Private Equity funds, which includes but is not limited to:
• Review work prepared by the fund administrator
• Reviewing accounting entries from the Fund Administrator's accounting and reporting systems
• Reviewing and reconciling cash and investment accounts with General Partner reports
• Reviewing of investment partnership reports
• Reviewing and reconciliation of capital account activity
• Review quarterly unaudited and annual audited financial statements in accordance with GAAP
• Coordinate preparation of annual audits with outside CPA firm
• Review partner allocations and capital account statements
• Manage process for delivering quarterly and annual investor reports and other ad-hoc communications
• Understand partnership agreements and interpret reporting requirements and partner economics
• Review management fees, distribution waterfalls and carried interest for Private Equity vehicles
• Corresponding with General Partners regarding accounting/reporting questions, or other issues, as necessary
• Corresponding with underlying investors regarding questions, requests, etc.
• Respond to investor requests in a timely manner
• Perform other duties as requested or as responsibilities dictate
• Perform other duties as required, including but not limited to:
• Review of K-1s and support for tax reporting and analysis of tax matters
• Support for the Compliance team, including preparation of materials for ADV, Form PF, SLT, etc.
• Support for other departments across StepStone

Education and/or Work Experience Requirements

• Experience with accounting for structured finance, private equity partnership, and fund of funds
• Direct experience with CFOs, CLOs, NAV?based facilities, or other structured credit products
• Deep understanding of fund structures, note issuances, waterfalls, and cash flow mechanics
• A Bachelor's Degree in Accounting or Finance with 12+ years of professional industry experience
• Ability to multi-task and manage priorities against fast-paced key deadlines
• Ideal candidates will have experience with SEC registered investment advisors
• Must be able to work independently but contribute in a team-oriented environment
• Previous experience with Investment Company Accounting and ASC 820 (FAS 157) and FIN 48
• Strong Microsoft Excel experience
• Experience training and managing junior professionals and reviewing the work of others

Other Attributes

• Strong written and verbal communication skills
• Ability to maintain strict confidentiality of client, investment and company information
• Ability to problem solve and leverage technology
• Acute attention to accuracy and detail
• Professional demeanor and an ability to work well in a team environment
• Highly proficient in using Excel, Word, and other Microsoft office programs
• Willingness and ability to learn and implement new programs and processes

Salary Range: $160,000 - $180,000

The salary range is an estimate of pay for this position. Actual pay may vary depending on job-related factors that can include location, education, skill, and experience. The salary range does not include any benefits or other forms of possible compensation that may be available to employees.

#LI-Hybrid

At StepStone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.

As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.

Candidates must be at least 18 years old to apply.

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