Fund Accountant – Multi-Currency Operations
Position Overview
The Fund Accountant will be responsible for managing fund accounting operations across multiple currencies and jurisdictions. The role involves maintaining fund books of accounts, NAV computation, investor reporting, reconciliations, regulatory support, and coordination with custodians, auditors, and other stakeholders. The incumbent will play a key role in ensuring accuracy, compliance, and operational efficiency across fund accounting processes.
Key Responsibilities
Fund Accounting and NAV Management
- Maintain books of accounts for one or more funds on Wealth Spectrum, including trade capture, corporate actions, income accruals, and expense provisioning.
- Calculate periodic Net Asset Value (NAV) and monitor unit capital movements across investor classes and series.
- Process subscriptions, redemptions, switches, and distributions, and maintain investor records and unit holder registers.
- Perform cash, securities, and position reconciliations with custodians, brokers, and banking partners.
- Account for management fees, performance fees, carried interest, hurdle rates, and distribution waterfalls, as applicable.
Multi-Currency Fund Operations
- Manage accounting and reporting for multi-currency portfolios, including trade booking, foreign exchange revaluation, and recognition of foreign exchange gains and losses.
- Record and reconcile currency hedging transactions, forward contracts, and mark-to-market adjustments.
- Reconcile multi-currency bank accounts and investigate and resolve reconciliation exceptions.
- Maintain exchange rate records and ensure consistent application of valuation and revaluation methodologies.
Investor Reporting
- Prepare investor statements, capital account statements, NAV reports, and periodic fund reports.
- Generate contribution and distribution notices and other investor communications as required.
- Support responses to investor and relationship manager queries relating to holdings, transactions, and fund reporting.
Compliance and Audit Support
- Assist with regulatory reporting and compliance requirements applicable to fund structures, including AIFs, PMS, and other investment vehicles.
- Coordinate with statutory auditors, internal auditors, tax consultants, custodians, and trustees for periodic reviews and audits.
- Maintain documentation supporting fund accounting records, reconciliations, and regulatory inspections.
- Support tax-related computations, including GST, TDS, withholding tax, and other applicable fund-level tax requirements.
Process Management and Controls
- Develop, maintain, and document standard operating procedures for fund accounting activities.
- Ensure adequate internal controls, review mechanisms, and audit trails are maintained across fund operations.
- Identify opportunities for process improvements and automation within Wealth Spectrum and related systems.
- Support ongoing enhancement of operational efficiency and risk management practices.
Qualifications and Experience
Required Qualifications
- CA, CMA, CFA, MBA (Finance), or an equivalent professional qualification.
- 3–6 years of experience in fund accounting with a fund administrator, asset management company, alternative investment fund, portfolio management services firm, family office, or wealth management organization.
- Strong hands-on experience with Wealth Spectrum, including fund accounting, NAV computation, unit holder accounting, and reporting modules.
- Sound understanding of multi-currency accounting, foreign exchange revaluation, and cross-border fund structures.
- Strong knowledge of NAV methodologies, accrual accounting, and fund expense allocation principles.
- Working knowledge of SEBI AIF, PMS, or other relevant regulatory frameworks.
- Advanced proficiency in Microsoft Excel, including data analysis, reconciliation, and reporting.
Preferred Qualifications
- Experience with additional fund accounting platforms such as eFront, Investran, MFund, or Geneva.
- Exposure to GIFT City/IFSCA structures, offshore feeder funds, or master-feeder fund structures.
- Understanding of carried interest and distribution waterfall calculations for private equity, venture capital, or Category II AIF structures.
- Experience managing fund audits and year-end closure processes independently.
Competencies
- Strong analytical and reconciliation skills with high attention to detail.
- Ability to manage multiple priorities and meet reporting deadlines.
- Effective stakeholder management and communication skills.
- Strong process orientation and commitment to operational accuracy and control.
- Ability to work independently while collaborating with cross-functional teams and external stakeholders.
Career Growth
This role provides exposure to fund managers, investors, auditors, custodians, and senior leadership, with opportunities for progression into broader fund operations, fund control, or leadership roles within the organization.
