Senior Associate, Fund Accounting

Associate, Fund Accounting

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Job Description

PRIMARY FUNCTIONS AND ESSENTIAL RESPONSIBILITIES

·Oversee and review monthly NAV packages from the fund administrator, including calculation of management and performance fees, as applicable.

·Manage monthly and quarterly close processes, including reviewing work performed by the fund administrators along with producing original workpapers and analyses.

·Work with and liaise with teams across the organization, including communications with portfolio managers, investor relations, operations, tax and financial reporting along with external fund administrators and external auditors to meet all monthly, quarterly and annual reporting deadlines.

·Work closely with operations and other groups in managing cash and position breaks.

·Review of quarterly and annual GAAP/IFRS/LUX (SARL) financial statements and footnote disclosures for multiple funds as well as capital account summaries for limited partners.

·Review regulatory compliance filings (e.g. Form ADV, Form PF, SLT, etc.)

·Review calculation of management fees, incentive fee/carry, PCAPS & complex waterfall calculations.

·Perform management company reporting activities on a quarterly basis, such as AUM submission, mgmt. fees/incentive fees reporting, LP/GP/Co invest Nav, IRR etc

·Review of US GAAP financial statements for monthly reporting and quarterly and annual SEC filings (10K, 10Q, 8K, N-2, etc.).

·Review cash flow projections and daily cash management, including activity on credit lines, expected settlement timing of purchases and sales, and timing of capital calls and capital distributions.

·Monitor compliance with the Fund’s governing documents (e.g. Limited Partnership Agreement, Investment Management Agreement, investor side letters, etc.) and credit facilities, as applicable.

·Prepare and assist with ad-hoc limited partner reporting, analyst and front-office requests.

·Assist with review of information provided to the tax team for tax estimates and annual returns.

·Review and approval of expense activity and authorization of bank wires.

·Participate in team projects and initiatives for process improvements.

·Assist with preparation of information provided to tax team for quarterly tax estimates and annual returns. 

·Review and approval of expense activity and authorization of bank wires. 

·Actively work on continuous improvement focusing on creating operational efficiency and better controls.  

·Provide overall direction to fund accounting team to assure synchronized teamwork that accomplishes monthly, quarterly and annual financial and operational goals & objectives.

·Ensure process and procedures are adequate to meet quality standards and are consistently applied and regularly reviewed

Qualifications

• Approximately 6-9 years of relevant work experience
• Bachelors’ degree in related field (Finance, Accounting) from an accredited institution
• Chartered Accountant or CPA license

General Requirements:

• Ability to work in a fast-paced, high growth environment; excited about working in a start-up environment with the backing and infrastructure of a well-established industry leader.
• Excited about team building and mentoring junior colleagues.
• Excellent communication skills and the ability to analyze and summarize complex information both verbally and in writing with internal and external stake holders.
• Strong problem-solving and analytical skills; ability to multi-task and manage various deadlines.
• Excellent organizational and interpersonal skills; attention to detail and timelines required.
• Strong knowledge of accounting, generally accepted accounting principles and financial reporting is required.
• Experience with open- and close-ended funds along with in depth understanding of complex fund structures in both private equity and open-ended funds.
• Experience in either working as an auditor in alternative investment space or experience of closely working with internal and external auditors.
• Strong problem-solving and analytical skills; ability to multi-task and manage various deadlines.
• Excellent organizational and interpersonal skills; attention to detail and timelines required.
• Experience with Advent Geneva is a plus.
• Experience with Microsoft Power BI, Tableau or Alteryx is a plus.
• Advance knowledge of Excel is required (advanced skills such as VBA is a plus).

Reporting Relationships

Fund Controller

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.

Experience Level

Senior Level