Role Purpose
Lead the end-to-end private equity fund accounting function across multiple vintages, strategies (buyout, growth, venture, co-invest, secondaries), and structures (LP funds, feeder funds, parallel vehicles, SPVs). Own the platform, process, people, and client service pillars to deliver accurate, timely financial reporting, investor servicing, and regulatory compliance at scale. Serve as a critical liaison with Front Office, Investor Relations, Tax, Compliance, and external administrators/auditors.
Core Responsibilities
1) Process (Operating Model, Reporting, Compliance)
- Financial Close & Reporting: Own monthly/quarterly close for funds and feeder vehicles; deliver financial statements (US GAAP/IFRS), partner capital accounts, and investor-level reporting with high accuracy and speed.
- Capital Activity Operations: Oversee end-to-end workflows for capital calls, distributions, true-ups, equalizations, and side letter economicsensuring precision and timely investor communications.
- Valuations & Waterfalls: Coordinate fair value measurements (ASC 820/IFRS 13) and run waterfall allocations (deal-by-deal/fund-as-a-whole) including carried interest, preferred return, and catch-ups.
- Regulatory & Tax: Ensure compliance with AIFMD, Form PF, Annex IV, FATCA/CRS, and local filings. Partner with Tax for K-1/Investor tax packs and jurisdictional complexities.
- Policies & SOPs: Author, maintain, and enforce global accounting policies, playbooks, RACI matrices, and escalation protocols. Drive QA/QC reviews and exception management.
- Continuous Improvement: Lead Lean/Six Sigma initiatives; reduce close-to-report cycle time, lower error rates, and eliminate manual reconciliations through automation and standardization.
2) Client Service (LP/GP Experience, Stakeholder Management)
- Investor Excellence: Serve as senior point of contact for LPs, addressing complex inquiries and bespoke reporting. Maintain SLAs for response times and accuracy.
- Stakeholder Partnership: Collaborate with Deal Teams, Portfolio Monitoring, IR, Legal/Compliance, and External Auditors/Administrators to ensure seamless information flow and timely deliverables.
- Onboarding & Transitions: Lead onboarding for new funds/investors, side letters, and transitions from/to administrators. Ensure change governance, cutover plans, and risk controls.
- Communications: Produce clear, executive-ready materialsdashboards, variance analyses, waterfall summaries, and board/regulatory packs. Anticipate issues and proactively manage expectations
3) Platform (Technology, Data, Controls)
- Systems Ownership: Drive roadmap, selection, and optimization of the fund accounting tech stack (e.g., GL, waterfall, capital activity modules, data warehouse, BI/visualization tools). Champion automation for capital calls/distributions, waterfalls, and management fee/carried interest calculations.
- Data Architecture & Governance: Establish standardized data models and golden sources for portfolio, capital activity, and investor records. Implement robust reference/master data management and reconciliation frameworks.
- Controls & Security: Implement SOX-style internal controls, segregation of duties, audit trails, and role-based access. Ensure cyber-resilience and data privacy compliance (GDPR, CCPA as applicable).
- Scalability & Reliability: Build repeatable, resilient operating models that support new fund launches, multi-currency books, and complex structures (blockers/aggregators). Target straight-through processing (STP) and best-in-class cycle times.
4) People (Leadership, Capability, Culture)
- Team Leadership: Manage and mentor fund controllers and teams across locations/time zones. Build succession plans and career paths; cultivate a high-performance culture.
- Workforce Planning: Align capacity with demand (fund launches, transactions, audit cycles). Optimize onshore/offshore mix and leverage managed services/administrators where strategic.
- Skills & Training: Implement structured learning paths (PE accounting standards, waterfalls, systems), certification support (CPA/ACA/CFA), and cross-training programs.
- Culture & Engagement: Promote accountability, continuous learning, and psychological safety. Recognize excellence and build inclusive practices that improve retention and productivity.
Key Performance Indicators (KPIs)
- Timeliness: % on-time financial statements; close cycle duration; SLA adherence for capital calls/distributions and investor inquiries.
- Quality: Error rate per reporting cycle; audit adjustments; reconciliation breaks; control deficiencies.
- Efficiency: Automation coverage (% STP), cost per fund/vehicle, manual touchpoint reduction, productivity per FTE.
- Stakeholder Satisfaction: LP satisfaction scores, internal partner feedback (IR/Deal teams), audit outcomes (no material weaknesses).
- People & Culture: Engagement scores, voluntary attrition, bench strength/succession readiness, certifications completed.
- Change Outcomes: Successful fund launches, system upgrades, and process transformations delivered on scope/time/budget.
Qualifications & Experience
- Education: Bachelor's/master's in accounting/finance; CPA/ACA preferred.
- Experience: 14+ years in private equity fund accounting or alternatives; track record leading multi-fund portfolios and complex structures (multi-currency, feeders, parallel funds, SPVs).
- Technical: Deep knowledge of US GAAP/IFRS, ASC 946/820, waterfall mechanics (deal-by-deal/fund-as-a-whole), carried interest, fee mechanics (Syndication cost and deal cost fund, investment and investor level expenses), equalizations, and side letter economics.
- Systems: Hands-on fluency with PE accounting platforms (e.g., Investran, Allvue, eFront, yardi, Workiva), BI tools (Power BI/Tableau), and workflow automation (RPA/Alteryx/Anaplan).
- Leadership: Proven capability to manage global teams, transform processes, and influence cross-functional stakeholders at senior levels.
Competency
- Operational Excellence: Process design, control frameworks, continuous improvement, and data-driven decision-making.
- Strategic Thinking: Ability to translate firm strategy into operating model, tech roadmap, and staffing plans.
- Communication: Executive presence; crisp written and verbal communication for LPs, boards, and auditors.
- Judgment & Risk Management: Strong accounting judgment; proactive identification and mitigation of operational and regulatory risks.
- Ownership & Bias for Action: Comfortable with ambiguity; drives outcomes with accountability.
