Quality Control and Accounting Associate Director - New York

Job Description:

NYC based firm is looking for an Associate Director for our Quality Control and Accounting Group within Fund Accounting Administration.


Specific Responsibilities:

  • Work closely with the Director of Quality Control Department (“QC Director”) and assist in managing the daily department operations.
  • Plan and manage the daily workflow for the QC team, including assessment of complexity of underlying work.
  • Communicate progress, issues and status to the Client Service Teams and work closely with stakeholders to manage expectations and ensure review deadlines are met. Address escalated issues as needed.
  • Support and coach QC team members during the first level review of deliverables.
  • Conduct reviews for higher risk and/or more complex deliverables.
  • Assist the QC director with the reviews of key fund economics and organization structure for new clients as outlined in the Limited Partnership Agreements, Management Company Agreements, Organizational Charts, Side Letters Agreements and other related governing documents
  • Identify and proactively raise accounting and reporting concerns determined during review process with the QC Director and Client Service Teams for discussion.
  • Propose resolutions and provide accounting guidance, best practices and examples to Client Service Teams in preparation of meeting with our Private Equity Fund Clients, Clients Auditors and Legal Team.
  • Maintain the QC client control database for accuracy and completeness.


Additional Responsibilities:

  • Conduct research of technical accounting and industry updates, new accounting pronouncements and market trends.
  • Contribute to the preparation and issuance of a firm wide bulletin with the latest accounting and regulatory updates on a quarterly basis.
  • Other Project/Administration related work for the Quality Control Department as needed.

Why join the GEN II QC team?

  • High profile department with direct reporting line to senior management       
  • Exposure to all of the client sponsors / funds within the Gen II universe   
  • Emphasis on addressing risk necessitates developing an understanding of the more complex or unusual waterfall models, fund structures and investment transactions         
  • Provision of feedback to management of trends and themes arising from QC reviews         
  • Provision of technical guidance to the client service teams and their clients       
  • Provision of technical updates and training materials to the firm   
  • Review of governing documents for new sponsors / funds and provision of feedback on terms


Skills & Experience:

  • Bachelor’s degree in Accounting – Public/Private CPA Preferred.
  • 5+ years of relevant Private Equity Fund/Investment Company Accounting & Reporting experience.
  • Ability to learn on-the-job quickly and apply the experience to resolve problems.
  • Ability to adapt to changes in processes and procedures in a rapidly changing environment.
  • Sound knowledge of Investment Company Accounting (ASC 946), Economics (Waterfalls and Allocations), Fund Structure (Corporate, Partnership, Tax Blockers, etc.)
  • Sound knowledge of types of Reporting for Investment Funds / Investment Companies and Investors in US GAAP (ASC 946) and IFRS Ability to Prepare and review.
  • Sufficient knowledge and hands on experience with governing documents, such as LPAs, Mgmt. Advisory Agreements, Side Letters, Separate Fee agreements, etc.
  • Hands on experience in accounting/audit of private equity funds (including blockers, Parallel, SPV, AIV, Co-Investment Vehicles) management companies, and other related vehicles.
  • Perform multiple levels of review/analyses of Financial Reports/Capital Events and Private Equity Complex Transactions. (If applicable).
  • Excellent verbal, written and interpersonal communication skills.
  • Strong attention to detail (identifies inaccuracies); ability to problem solve.
  • Ability to think independently, prioritize, multi-task and meet deadlines.
  • Strong with Microsoft suite (Excel, Work, Power-point, Outlook, and Others).


About The Company:

Gen II Fund Services, LLC is the largest independent, U.S. based, private equity fund administrator, covering over $170B of private capital and reporting to over 9,000 LPs on behalf of our clients. Gen II offers private equity firms the best-in-class combination of people, process and technology, enabling GPs to most effectively manage their operational infrastructure, financial reporting and investor communications. The Gen II team is the most experienced and longest tenured team in the private equity fund administration industry, with broad expertise across buyout, infrastructure, energy, credit, real estate, co-investment, hybrid funds, funds of funds, feeder funds, venture capital, and managed accounts.


Key facts:

  • Administering over $170B in assets
  • Servicing nearly every significant investor in the asset class
  • Institutional grade infrastructure and SSAE 16 (SOC-1) certification, ensuring confidence in our processes and operating model
  • The most experienced and best performing team in the industry 

To apply, CLICK HERE