Fund Finance, 34 Act Funds - Assistant Vice President

Assistant Vice President (Greenwich)

About the Role

Our client 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 the General Partner (GP) clients to access the high-net-worth market at scale, and the service model allows them to do so efficiently by relying on 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, including the daily review of its portfolio.

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 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.
• 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

• 5+ years of experience in fund accounting 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