Fund Finance, 34 Act Funds- Assistant Vice President

iCapital

  • Greenwich, CT
  • $110,000-145,000 per year
  • Permanent
  • Full-time
  • 28 days ago
About the RoleiCapital is launching a new, dedicated line of business to provide a comprehensive, end-to-end solution for a sophisticated and rapidly growing fund structure: the '34 Act Registered Fund. This innovative structure allows our General Partner (GP) clients to access the high-net-worth market at scale, and our service model allows them to do so efficiently by relying on our operational expertise.The Fund Finance team is the operational engine at the heart of this new business line. iCapital is seeking a meticulous and driven Assistant Vice President to execute the critical accounting, valuation, and reporting functions for these funds. This individual will be responsible for the integrity of the fund's financial data, from the daily review of its portfolio to the final sign-off on its public SEC filings.This role offers a unique opportunity to gain deep expertise in a complex, high-growth product, work directly with public reporting and be a key part of the team that ensures the accuracy and timeliness of the information we provide to our clients and their investors.Responsibilities
  • Perform detailed reviews of the monthly NAV packages prepared by third-party fund administrators.
  • Reconcile cash, positions, and activity between the administrator and custodian.
  • Validate portfolio valuations to ensure they align with data provided by the GP and their independent valuation advisor.
  • Independently recalculate management and incentive fees to verify accuracy.
  • Review and approve fund-level expense payments and accruals.
  • Assist in the preparation and review of financial statements and schedules for quarterly (Form 10-Q) and annual (Form 10-K) SEC filings.
  • Act as a key liaison with the fund's external auditors, managing the end-to-end annual audit process.
  • Support the drafting and review of current reports (Form 8-K) for events such as monthly subscriptions.
  • Leverage iCapital technology to create and publish monthly NAV statements and fact cards for investors and distribution partners.
  • Contribute to the oversight of the third-party tax provider to ensure timely and accurate delivery of investor K-1s.
  • Calculate proration factors for oversubscribed quarterly tender offers.
  • Assist in the development and maintenance of internal controls over financial reporting to comply with regulatory requirements.
  • Contribute to the maintenance of our SOC-1 report to include the '34 Act fund servicing model.
  • Identify and implement process improvements to enhance the efficiency and accuracy of the fund finance function.
Qualifications
  • 3-8+ years of experience in fund accounting and/or public accounting (with a focus on alternative investment management clients)
  • Strong knowledge of investment company accounting under US GAAP is required
  • Experience with registered funds ('40 Act and '34 Act) and familiarity with SEC reporting requirements (Form 10-K, 10-Q)
  • Able to manage complex financial data with a commitment to being accurate and meticulous
  • Demonstrated ability to work in a team and work effectively with internal partners and external service providers
  • CPA is preferred but not required
BenefitsThe base salary range for this role is $110,000 to $145,000. iCapital offers a compensation package which includes salary, equity for all full-time employees, and an annual performance bonus. Employees also receive a comprehensive benefits package that includes an employer matched retirement plan, generously subsidized healthcare with 100% employer paid dental, vision, telemedicine, and virtual mental health counseling, parental leave, and unlimited paid time off (PTO).We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office Monday-Thursday, with the flexibility to work remotely on Friday.For additional information on iCapital, please visit Twitter: @icapitalnetwork | LinkedIn: | Awards Disclaimer:iCapital is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

iCapital