A Fund Accounting Manager (Credit Funds) will be required to manage the overall NAV calculation process within the guidelines and procedures provided by HS Financial Technologies (formerly HedgeServ) and under the supervision and guidance of a Fund Accounting Director and Managing Director. They will ensure the timely and accurate delivery of NAV calculations. They will assist in the development of client relationships and will require a detailed understanding of the service requirements for Hedge Fund Administration.
Every Fund Accounting Manager will receive the requisite Induction Training in addition to both compulsory training (AML/KYC) and optional training. Additional client-specific training is provided by the Director and Managing Director.
Responsibilities
The below list is not finite and may be added to. The combination of tasks required to be executed will vary depending on both client structure, client requirements and business needs.
- Managing client relationships involving interaction with both the client and the relevant Fund Accounting Director to ensure consistency of service.
- Ensure the assigned fund accounting team operates within the clearly defined and documented control environment.
- Manage and develop client teams of up to 10 employees.
- Resolve fund accounting enquiries escalated by Supervisor or Administrator.
- Ensure all aged items on cash and position reconciliations are resolved timely.
- Review daily and monthly/quarterly NAV calculations of credit funds.
- Develop and improve NAV calculation workflows and procedures.
- Perform comprehensive review of bank loan position & P&L with detailed verification of bank loan trading, events (paydowns, drawdowns, PIKs) and income components (including delayed compensation).
- Analyze and capture complex bank loan restructuring events, maintaining detailed records and ensuring compliance with regulatory requirements
- Review fee calculations and profit and loss allocations.
- Review applicable monthly, yearly and inception-to-date performance.
- Manage the audit process ensuring timely and successful completion of fund audits including preparation of fund financial statements.
- Investigate accounting implications of new products.
- Manage and complete client initialization and transition
- Participate in development and presentation of fund accounting training.
- Manage fund accounting recruitment, training and performance evaluations.
- Resolve exceptional problems and take on special projects or tasks as assigned.
- Handle complex calls from clients.
- Establish and maintain effective working relationships with the Investor Services, Quality Assurance, Client Servicing and Compliance departments within HedgeServ.
HS Financial Technologies operates a client-focused structure which provides a wide range of experience for all levels of employee. As such a Fund Accounting Manager should be flexible and willing to adapt.
A Fund Accounting Manager should be capable of managing a team of up to 10 staff servicing clients with various requirements and deadlines
Pre-Requisite Knowledge, Skills, and Experience
- 5+ years’ experience working in Fund Administration with at least 3 of those at supervisor level is desired. Alternative Hedge Fund experience may be considered.
- Detailed knowledge of bank loans (Broadly Syndicated Loans, Private Credit, Bank loan TRS, Structured Credit Facilities) considered an asset.
- Accounting, Finance, Legal or Business Degree.
- Intention to actively pursue a professional accounting qualification (ACCA, CIMA, CPA, ACA), if not already started, part qualified or qualified, would be an advantage but is not required.
- IT Literate
- Strong verbal and written communication skills
- Strong analytical and problem-solving skills
- Ability to be flexible and work effectively both within a team structure or independently
- Strong interpersonal skills
- Good initiative tempered with identifying when escalation is required
- Strong systems, product and process knowledge
- Ability to positively influence team morale
- Demonstrate leadership skills
- Take ownership of designated tasks
