Manager, Private Equity

Job Description

About Citco:

The market leader. The premier provider. The best in the business. At Citco, we've been the front-runner in our field since our incorporation in 1948 led to the evolution of the asset servicing sector itself. This pioneering spirit continues to guide us today as we innovate and expand, push beyond the boundaries of our industry, and shape its future. From working exclusively with hedge funds to serving all alternatives, corporations and private clients, our organization has grown immensely across asset classes and geographies. For us, this progress is a pattern that we'll only maintain as we move forward, always prioritizing our performance. So for those who want to play at the top of their game and be at the vanguard of their space, we say: Welcome to Citco.

About the Team & Business Line:

Fund Administration is Citco's core business, and our alternative asset and accounting service is one of the industry's most respected. Our continuous investment in learning and technology solutions means our people are equipped to deliver a seamless client experience.

As a core member of our Private Equity team, you will be working with some of the industry's most accomplished professionals to deliver award-winning services for complex fund structures that our clients can depend upon.

Responsibilities

Your Role:

• Maintain and control the general ledger and various sub-ledgers.
• Prepare and review financial statements, footnotes, and partner capital statements
• Prepare and review limited partner and general partner allocations
• Prepare and review trial balances and work paper product
• Review capital activity that pertains to the funds including capital calls, distributions, and transfers
• Prepare and review fee calculations including (but not limited to) management fees, admin fees, waterfall clawback, and carried interest calculations
• Manage and monitor the timing and quality of client deliverables
• Interact with senior management and manage overall relationships for multiple clients
• Provide technical accounting/industry knowledge to clients
• Establish plan for new client setup and transitions
• Coordinate with Operations group, Financial Statement group, Tax group, and Investor Relations group
• Coordinate, manage, and monitor external audit process
• Review private equity fund client's partnership agreements, PPMs and other materials
• Implementation of fund structures on accounting system
• Complete ad hoc reports as needed
• Read and understand Limited Partnership and side-letter agreements, specifically the distribution waterfall provisions contained therein.
• Function as a Subject Matter Expert in relation to all aspects of distribution waterfall calculations across multiple investment strategies and structures.
• Fully document the calculation requirements associated with a fund's distribution waterfall calculations, inclusive of specific Limited Partner provisions, to support the on-boarding of funds to Citco's waterfall calculation models.
• On-board funds to Citco Waterfall, Citco's proprietary calculation engine (inclusive of on-boarding waterfall structures, calculation methodologies, Limited Partner waterfall terms, and mapping to source-system accounting data).
• Complete the analysis, design, setup and testing of built Excel-based calculation models based on the relevant fund documentation and source-system accounting data.
• Support Citco's global Fund Accounting teams in relation to hypothetical and realized waterfall calculations, as well as audit support and ad-hoc requests.
• Work with Citco's dedicated development staff to provide business requirements and support in relation to modifications and enhancements to Citco Waterfall.
• Participate in the Business Development process to facilitate demos of Citco's waterfall technology, as well as establishing Citco's expertise in relation to waterfall calculations.
• Coordinate with all relevant teams to ensure internal workflows will meet client needs and regulatory controls.
• Coordinate with both internal and external stakeholders to ensure all necessary data is captured and migrated for client reporting and calculation models.
• Contribute to on-going discussions on operational process and best practices; document and implement process improvements.
• Maintain a pro-active customer focus at all times.
• Coordinate risk management activities within the business and provide resourcing as needed to help drive results.
• Participate in the review, documentation, analysis and oversight of Incidents, Action Plans, and Risk Assessments
• Identify possible solutions and / or opportunities for automation and standardization in order to mitigate operational risks
• Support the first line by coordinating the reaction and response with key partners including Group Risk Management, Group Internal Audit, Group Compliance and other Group functions where required
• Assist in the development of policies, procedures and operating practices
• Assist with training development and coordinate training participation at all levels of the organization
• Facilitate operational risk management and committee meetings
• Participate in ad hoc projects as needed
• Onboard clients to Citco's technology platforms and develop into a subject matter expert on systems and implementations.
• Review and assist in the interpretation and documentation of fund legal documents.
• Coordinate with both internal and external stakeholdersto ensure all necessary data points are properly captured for reporting and calculation modeling.
• Coordinate with all relevant teams internally to ensure processes and workflows are aligned to meet client needs.
• Understand complex fund structures and accounting for them accordingly.
• Maintain a current and thorough understanding of applicable best practice policies and client specific agreements.
• Prepare, analyze client's financial data for conversion into Citco platforms.
• Partner with key stakeholders on the development and testing of Citco's technology platforms.
• Contribute to ongoing discussions on workflow process and best practices; document and implement process improvements.
• Participate in marketing and sales pitches; effectively demonstrate and communicate Citco's on-boarding process and waterfall capabilities.

Qualifications

About You:

• You have a Bachelor's degree in Accounting, Finance, or Economics; CPA an asset.
• 4+ years' experience in managing a team of Fund Accountants, Senior Fund Accountants and Supervisors
• 3-5 years of fund accounting experience in either a Private Equity Fund, Private Equity Fund Administrator, or other financial institution where the accountant has gained financial products knowledge
• Knowledge of US/Canadian GAAP and other comprehensive basis of accounting
• Experience in reviewing and preparing general ledgers and financial statements
• Strong leadership skills and supervisory experience of other professionals
• Strong project management skills with attention to detail and proven ability to multi-task
• Strong written and verbal communication skills
• Working knowledge of Excel and Word essential, experienced user of the SunGard Investran PE accounting platform highly desirable.
• You have 4+ years' experience in managing a team of Fund Accountants, Senior Fund Accountants and Supervisors.
• You have 3-5 years of fund accounting experience in either a Private Equity Fund, Private Equity Fund Administrator, or other financial institution where the accountant has gained financial products knowledge.
• You have knowledge of US/Canadian GAAP and other comprehensive basis of accounting.
• You have experience in reviewing and preparing general ledgers and financial statements.
• You have strong leadership skills and supervisory experience of other professionals.
• You have strong project management skills with attention to detail and proven ability to multi-task.
• You have a Bachelor's degree in Accounting, Finance, or Economics.
• You have strong written and verbal communication skills.
• You have working knowledge of Excel and Word essential, experienced user of the SunGard Investran PE accounting platform highly desirable.
• You ideally have 6+ years' experience in a risk/controls-based role in financial services, currently operating at supervisory/management level.
• Highly collaborative, innovative, and effective communication skills
• Strong analytical ability with high attention to detail
• Project management skills with proven ability to multi-task
• Hold a related Bachelor's degree
• Strong communication skills
• Comprehensive knowledge of Excel, Word, PowerPoint and Visio essential
• Working knowledge of FIS Private Capital Suite (Formerly FIS Investran) preferred
• Proven technical/report writing skills advantageous
• High level of professionalism and the ability to deal effectively with all levels in the organization
• You have a minimum of a bachelor's degree in either of the following or related fields: Accounting, Finance, Mathematics or Economics; CPA or CFA preferred.
• You have 5+ years' experience in managing a team of accountants, senior analysts and supervisors.
• 3 - 5 years of Big 4 or large mid-size public accounting firm experience preferred
• Experience in servicing clients in the asset management industry is a plus
• Strong project management skills with a high attention to details required
• You have strong team leader and team player who exhibits strong communication and written skills.
• You have strong sense of ownership and accountability of work product.
• You have the ability to handle several projects and different stakeholders simultaneously, and prioritize work based on deadlines.
• Fund Accounting and IT skills a plus
• You have proficiency knowledge in Microsoft Excel, Word and PowerPoint.
• You have willingness to work long hours, as required.

Our Benefits

Your well being is of paramount importance to us, and central to our success. We provide a range of benefits, training and education support, and flexible working arrangements to help you achieve success in your career while balancing personal needs. Ask us about specific benefits in your location.

We embrace diversity, prioritizing the hiring of people from diverse backgrounds. Our inclusive culture is a source of pride and strength, fostering innovation and mutual respect.

Citco welcomes and encourages applications from people with disabilities. Accommodations are available upon request for candidates taking part in all aspects of the selection.