Fund Accounting Senior Associate

Job Description Office : Learn and abide by office policies. Familiarise yourself with and leverage the Standish Wiki page. Interpersonal /Training: Network with peers to get to know others within your office and teams. Participate in your office mentorship program. Get to know your fund controller/mentor and lay out a development plan for yourself with their help. Start to train those around you, inclusive of peers and Fund Associates. Ask lots of questions and take plenty of notes. Technical Ability: Industries: Have a basic understanding of the venture capital/private equity industry. Have a basic understanding of client structures. Familiarize yourself with each client’s limited partnership agreement (LPA) and how it is used to guide the administration of a fund. Operations: Cash/Banking: Understand how to setup bank wires– wire templates (for distributions), individual expense, and portfolio company wires; Understand bank wire deadlines. Understand purpose of line of credit. Investor Relations/CRM: Understand how to prepare and/or review responses to limited partner (LP) requests. Understand how to prepare or review audit confirmation from an LP. Other: Understand the organisation of the Standish “X drive” and where to find relevant data. Save and organise documents on the “X drive” in a timely manner. Understand and anticipate client deliverables and timelines. Capital Activity: Proficiently and accurately calculate allocations related to capital calls and distributions. Understand how to prepare capital call and distribution notices within the system that you’re working. Understand how to track receipt of capital calls and reconcile distribution wires. Financial Reporting: Financial Statements (General Ledger): Demonstrate proficiency at booking general ledger (GL) entries (e.g., cash activity, accruals, valuations). Demonstrate proficiency at preparing financial statement workbooks. Demonstrate proficiency at calculating various internal rates of return (IRR) and other relevant fund performance metrics (in general and as requested by client). Understand how to tie-out and foot financial statements. Learn how to prepare management fee calculations. Technology: Understand how to correctly use software for your clients (GL/investor reporting). Understand how to prepare data for upload into the investor reporting platform. Understand how to use Excel and its functions and relevant formulas. Assist to onboard/migrate new or existing clients to Standish’s reporting databases and systems. Tax: Forms 1099: Understand the purpose of Forms 1099. Forms 1065 and Schedule K-1: Understand the purpose of Form 1065 and Schedule K-1. Manage the information gathering for tax preparers. Proficiently tie out the return and K-1s with the help of your Fund Controller (reconciling information/numbers provided by Standish). Manage the partner information review process on the K-1s. Audit Understand how to fill out audit confirmations. Manage the PBC (prepared by client) lists and providing documentation to auditors. Understand how to roll-forward financial statement footnotes. Understand how to do financial highlight (fihi) and other expense calculations for audit footnotes. Assist with responding to auditor questions and requests. Expectations : It is expected that Senior Associates will require training from their teams, mentors, and colleagues. As such, it is expected that Senior Associates will have (and should ask) a lot of questions. The expectation is that you should be proficient in the skills/processes outlined above within a six-to-twelve month timeframe. It is expected that Senior Associates should be able to anticipate reoccurring client deliverables and deadlines. It is expected that the Senior Associate will start to become proficient at time management and prioritisation on their clients and therefore be able to operate with a certain level of autonomy. Minimum Requirements: Bachelor’s Degree in Accounting or Finance related field 1 - 2 years experience in similar role beneficial Strong academic performance Proficiency in Microsoft Office applications, particularly Excel Knowledge of various investment accounting concepts Attention to detail Ability to multitask Ability to work in a team and individually Ability to effectively communicate to team members Strong organisational skills and work ethic Benefits: Medical Aid for Employee/ Main Member Gap Cover Provident Fund including Group Risk Benefits