Assistant Vice President - Fund Accounting and Financial Modelling

Assitant Vice President - Level 3

The Apex Group was established in Bermuda in 2003 and is now one of the world’s largest fund administration and middle office solutions providers.

Our business is unique in its ability to reach globally, service locally and provide cross-jurisdictional services. With our clients at the heart of everything we do, our hard-working team has successfully delivered on an unprecedented growth and transformation journey, and we are now represented by over circa 13,000 employees across 112 offices worldwide.Your career with us should reflect your energy and passion.

That’s why, at Apex Group, we will do more than simply ‘empower’ you. We will work to supercharge your unique skills and experience.

Take the lead and we’ll give you the support you need to be at the top of your game. And we offer you the freedom to be a positive disrupter and turn big ideas into bold, industry-changing realities.

For our business, for clients, and for you

Job Description: Carry Distribution Modeling and Analytics  – Closed‑Ended Fund Accounting

Job Title: Assistant Vice President – Closed-Ended Fund Accounting

Department: Closed Ended Fund Accounting

Location: Bangalore/Pune/Hyderabad

Role Type: Carry Distribution (Waterfall) Modelling and Analytics – Problem Solving, Financial Modeling, Carry distribution and models, Financial Formulas onExcel, Return and performance calculation for portfolio of closed ended funds

1. Role Overview

The AVP – Private Equity Carry Distribution Modelling & Analytics role sits within the Closed Ended Fund Accounting Team at Apex Fund Services. The position focuses on building, reviewing, and enhancing complex carry distribution (waterfall) models for Private Equity, Private Credit, and Real Estate funds. The role requires deep technical expertise in advanced Excel modelling, strong understanding of fund economics, and the ability to interpret LPAs and translate them into accurate, scalable waterfall logic. The AVP will work closely with global fund accounting, performance analytics, and technology teams to deliver high‑quality models and insights for clients across multiple jurisdictions.

2. Key Responsibilities

• Develop, review, and validate carry distribution (waterfall) models across European, American, and hybrid structures.
• Build and maintain advanced Excel‑based financial models incorporating IRR, compounding, hurdle rates, catch‑up mechanics, and multi‑tier profit allocations.
• Interpret and translate Limited Partnership Agreements (LPAs) into precise modelling logic and distribution rules.
• Perform scenario analysis, stress testing, and sensitivity modelling for fund economics and carry projections.
• Support fund accounting teams with carry accruals, NAV impacts, and performance allocation calculations.
• Collaborate with technology teams to enhance automation, model standardization, and workflow efficiency.
• Review and validate models built by junior analysts; ensure adherence to internal modelling standards and controls.
• Prepare analytical reports and insights for internal stakeholders and clients, including GP/LP distribution summaries.
• Work with Private Credit teams to model cash interest, PIK interest, OID, amortized cost, and credit instrument waterfalls.
• Support audit processes by providing model documentation, reconciliations, and methodology explanations.
• Contribute to continuous improvement initiatives, including template development, process optimization, and best‑practice modelling frameworks.

3. Skills & Competencies Technical Skills

• Expert‑level proficiency in advanced Excel, including nested formulas, array functions, dynamic ranges, and error‑proofing techniques.
• Strong understanding of IRR (gross and net), compounding conventions, discounting, and cashflow modelling.
• Deep knowledge of carry distribution mechanics, including preferred return, catch‑up, GP/LP splits, and multi‑tier waterfalls.
• Ability to interpret complex LPAs, fund structures, and distribution provisions.
• Experience with private equity, private credit, or real estate fund accounting concepts.
• Familiarity with waterfall tools such as CapReturn or equivalent platforms (advantageous).
• Working knowledge of VBA for automation, model optimization, and process efficiency (preferred).
• Strong analytical mindset with the ability to identify modelling gaps, inconsistencies, and edge‑case scenarios.
• Ability to work with large datasets and reconcile model outputs to accounting records.
• High attention to detail and strong control mindset to ensure accuracy and audit readiness.

Soft Skills

• Strong communication skills to explain complex modelling logic to non‑technical stakeholders.
• Ability to collaborate effectively with global teams across accounting, technology, and client service.
• Proactive problem‑solving approach with the ability to work independently on complex tasks.
• Strong organizational skills and ability to manage multiple deliverables under tight deadlines.
• High level of accountability, ownership, and commitment to quality.
• Adaptability and willingness to learn new tools, methodologies, and fund structures.
• Professional maturity to review, challenge, and guide junior team members.

Qualifications

• Bachelor’s or Master’s degree in Finance, Accounting, Economics, Mathematics, or related fields.
• Professional certifications such as FMVA (CFI), CFA Level I/II, CA, CPA, or equivalent are preferred.
• 6–10 years of experience in private equity/private credit fund accounting, performance analytics, or financial modelling.
• Experience working in fund administration, asset management, Big 4 advisory, or private markets consulting is an advantage.
• Exposure to modelling tools such as CapReturn, eFront, Investran, or similar platforms is beneficial.
• Strong command of Excel; VBA or Python skills are a plus.

Disclaimer: Unsolicited CVs sent to Apex (Talent Acquisition Team or Hiring Managers) by recruitment agencies will not be accepted for this position. Apex operates a direct sourcing model and where agency assistance is required, the Talent Acquisition team will engage directly with our exclusive recruitment partners.

Experience Level

Executive Level