Staff Accountant

Staff Accountant

Formulary 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 Drive

• Fund 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 features
• Client 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 Need

• 1-2 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 / Bonus

• Demonstrated 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 Are

• You 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 Mission

• Build 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