Fund Accounting Manager

Job Description

Job title: Fund Accounting Manager

Company: Intermediate Capital Group

Job description: Job Title: Fund Accounting Manager

Location: London, St Pauls

Department: Fund Accounting

Reporting to: Fund Accounting Associate Director

Position Summary

The Fund Finance and Operations (“FFO”) team consist of 44 employees, based out of the New York, Tokyo, Warsaw and our head office in London.

Reporting to the Head of Fund Accounting, you will be responsible for the financial control and management of the financial reporting process for a designated set of Funds. The role involves the co-ordination and interaction with deal operations and investment teams, marketing and client relations, tax, fund structuring, and group finance, as well as multiple stakeholders both internally and externally to ICG, such as fund administrators, auditors, Boards of Directors, and investors.

Primary Responsibilities

The responsibilities of the role include, but are not limited to:

Fund Accounting and Investor Reporting Oversight

• Oversee the monthly/quarterly financial, investor, and regulatory reporting.
• Oversee the annual financial statement production across funds and manage the audit process.
• Manage the Administrators to ensure financial reporting is accurate and timely and reflects all relevant insight from the wider team.
• Collaborate with Deal Operations, Tax and external advisors to manage the funds’ flow and investor notices for investments and divestments.
• Review and understand the detail behind the valuation and other valuation information from the CIO office, and present to the Valuation Committee and GP Boards.
• Manage Fund cash and liquidity, including bridge facilities, treasury positions and counterparty exposure.
• Monitor the compliance of the Fund LPA and side letter agreements.
• Respond to and develop processes/procedures around external investor queries and internal investor relations demands.
• Review and preparation of all investor financial and ad hoc reporting, Fund analysis and dealing with regulatory reporting (AIFMD, Solvency II and other regulations).
• Formally document technical matters and supporting judgements about the complex accounting, including broader fund matters which impact the Fund’s financial records.
• Review and understand the detail behind the valuation and other valuation information from the CIO office.
• Manage fund cash & treasury positions, including assisting in developing and monitoring counterparty exposure.
• Manage the complexity of the fund structures and governing documents such that the operations reflect the intended tax planning.
• Perform ongoing and ad hoc analysis of Fund performance, calculation of Fund IRR’s, Carried Interest, and other Fund performance measures.
• Update Fund performance metrics quarterly to ensure investor reporting is accurate and current.
• Review investor reporting outputs to ensure consistency with Fund financials and the latest investment commentary.
• Liaising with investor relations for Fund/Investor performance requests and track record updates.
• Ensure there is adequate process documentation and control for your areas of responsibility.
• Support the implementation of new in-house systems and procedures.
• Back-up and cover will also need to be provided to other functional support areas within FFO or to other team members on an ad-hoc basis.

ICG Group Reporting

• Review and approve Management Fees to Group Finance.
• Report AUM/FUM information to Group Finance.

Administrator Oversight, Systems and Process Management

• Assist with Administrator assessments and feedback including monitoring administrator delivery against SLAs and KPIs and onsite visits.
• Work with Operations to ensure that the deals are correctly recorded in ICG in-house systems and take responsibility for maintaining the integrity of data.
• Maintenance of Fund models and waterfall calculations.

Projects

• There will also be opportunity to assist in fund raising efforts for new fund strategies.

Key Requirements/ Qualifications

You will have demonstrable experience of:

Essential

• BSc/Ba – Preferably with ACA, ACCA, CIMA
• Experience in either Fund Administration, Private Equity & Venture Capital, Performance Analysis and/ or Accounting gained in an Asset Manager, Fund Administrator, Leveraged Finance and / or Tier 1 Accounting & Consulting firm.
• Very strong team player who is happy to work in a collegiate and consultative manner.
• Strong knowledge of fund financials and reporting issues.
• Conscientious with excellent attention to detail.
• Advanced Excel skills

Desirable

• Thorough understanding of carry structures and waterfalls.
• Technical knowledge of IFRS and Lux GAAP.
• Understanding of financial instruments across the capital structure.
• Thorough understanding of carry structures and waterfalls.
• Experience in Private Debt / debt asset class

Our Global Benefits Framework is centered around these 3 key attributes:

• Wellbeing – Supporting your mental, physical and financial wellbeing as well as your lifestyle needs.
• Inclusivity – Fit for purpose and competitive, no matter who or where you are.
• Longevity – Long Term and sustainable in design.

Why ICG?

ICG (Intermediate Capital Group) is a FTSE-listed, FCA-regulated alternative asset manager creating sustainable value by partnering with ambitious businesses. We have over 30 years’ history and today we manage $82.1bn* of assets and invest across the capital structure. The firm employs over 575 people in 16 countries around the world and is well positioned for growth and benefits from the long-term trend of increased demand for alternative investments.

To make the most of your career at ICG, you will be inquisitive, self-motivated, engaged, collaborative and agile. ICG is a place where we are all dedicated to achieving common goals.

Our teams describe ICG as ambitious, collaborative, empowered, entrepreneurial, professional and acting with integrity. We translated these attributes into a core set of values and, together with our purpose, this represents who we are today and whom we aspire to be tomorrow.

For three decades we have been constantly striving for excellence in all aspects of our business. Whether that is through the people who join us, how we support and develop them throughout their career, and the culture we create and live in. It is also evident in the role we play in society through the investments we make, our charity work and what we stand for.

We relentlessly pursue our ambition to provide an inclusive and diverse environment where everyone has plenty of opportunities to contribute, succeed and be themselves.

ICG will provide equal employment opportunity to all employees and applicants for employment. No employee will be discriminated against in hiring or employment because of race, colour, sex, age, disability, religion, national origin, marital status, sexual orientation, gender identity and/or expression, ancestry, military status, genetic information, or any other basis protected by applicable federal, state or local law.

ICG will provide equal employment opportunity to all employees and applicants for employment. No employee will be discriminated against in hiring or employment because of race, colour, sex, age, disability, religion, national origin, marital status, sexual orientation, gender identity and/or expression, ancestry, military status, genetic information, or any other basis protected by applicable federal, state or local law.

Expected salary:

Location: London

Job date: Fri, 15 Dec 2023 08:25:32 GMT

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