Fund Accounting Senior Associate

Job Description

Office :

- Learn and abide by office policies.

- Familiarise yourself with and leverage the Standish Wiki page.

Interpersonal /Training:

- Network with peers to get to know others within your office and teams.

- Participate in your office mentorship program.

- Get to know your fund controller/mentor and lay out a development plan for yourself with their help.

- Start to train those around you, inclusive of peers and Fund Associates.

- Ask lots of questions and take plenty of notes.

Technical Ability:

- Industries:

Have a basic understanding of the venture capital/private equity industry.

- Have a basic understanding of client structures.

- Familiarize yourself with each client’s limited partnership agreement (LPA) and how it is used to guide the administration of a fund.

- Operations:

Cash/Banking:

Understand how to setup bank wires– wire templates (for distributions), individual expense, and portfolio company wires;

- Understand bank wire deadlines.

- Understand purpose of line of credit.

- Investor Relations/CRM:

Understand how to prepare and/or review responses to limited partner (LP) requests.

- Understand how to prepare or review audit confirmation from an LP.

- Other:

Understand the organisation of the Standish “X drive” and where to find relevant data.

- Save and organise documents on the “X drive” in a timely manner.

- Understand and anticipate client deliverables and timelines.

- Capital Activity:

Proficiently and accurately calculate allocations related to capital calls and distributions.

- Understand how to prepare capital call and distribution notices within the system that you’re working.

- Understand how to track receipt of capital calls and reconcile distribution wires.

- Financial Reporting:

Financial Statements (General Ledger):

Demonstrate proficiency at booking general ledger (GL) entries (e.g., cash activity, accruals, valuations).

- Demonstrate proficiency at preparing financial statement workbooks.

- Demonstrate proficiency at calculating various internal rates of return (IRR) and other relevant fund performance metrics (in general and as requested by client).

- Understand how to tie-out and foot financial statements.

- Learn how to prepare management fee calculations.

- Technology:

Understand how to correctly use software for your clients (GL/investor reporting).

- Understand how to prepare data for upload into the investor reporting platform.

- Understand how to use Excel and its functions and relevant formulas.

- Assist to onboard/migrate new or existing clients to Standish’s reporting databases and systems.

- Tax:

Forms 1099:

Understand the purpose of Forms 1099.

- Forms 1065 and Schedule K-1:

Understand the purpose of Form 1065 and Schedule K-1.

- Manage the information gathering for tax preparers.

- Proficiently tie out the return and K-1s with the help of your Fund Controller (reconciling information/numbers provided by Standish).

- Manage the partner information review process on the K-1s.

- Audit

Understand how to fill out audit confirmations.

- Manage the PBC (prepared by client) lists and providing documentation to auditors.

- Understand how to roll-forward financial statement footnotes.

- Understand how to do financial highlight (fihi) and other expense calculations for audit footnotes.

- Assist with responding to auditor questions and requests.

Expectations :

- It is expected that Senior Associates will require training from their teams, mentors, and colleagues.

- As such, it is expected that Senior Associates will have (and should ask) a lot of questions.

- The expectation is that you should be proficient in the skills/processes outlined above within a six-to-twelve month timeframe.

- It is expected that Senior Associates should be able to anticipate reoccurring client deliverables and deadlines.

- It is expected that the Senior Associate will start to become proficient at time management and prioritisation on their clients and therefore be able to operate with a certain level of autonomy.

Minimum Requirements:

- Bachelor’s Degree in Accounting or Finance related field

- 1 - 2 years experience in similar role beneficial

- Strong academic performance

- Proficiency in Microsoft Office applications, particularly Excel

- Knowledge of various investment accounting concepts

- Attention to detail

- Ability to multitask

- Ability to work in a team and individually

- Ability to effectively communicate to team members

- Strong organisational skills and work ethic

Benefits:

- Medical Aid for Employee/ Main Member

- Gap Cover

- Provident Fund including Group Risk Benefits