Assistant Controller

Chicago, Illinois • $115,000 - $150,000

About the Company:

Our client, a Chicago based Private Equity fund is seeking a highly motivated and entrepreneurial minded senior accounting and finance professional with at least 6 years of relevant experience to assist with the increasing responsibilities and complexities of the firm’s growing credit platform. The individual will oversee the day to day accounting and investor reporting functions for the firm’s credit funds, which are anticipated to reach a total AUM of $3B+ by early 2020. The position will have a title of either Assistant Controller or Accounting Manager depending on the amount and relevancy of the individual’s experience. The following traits will be necessary to be successful in this role:

Responsibilities:

• Entrepreneurial spirit and the desire to help build out a new and continually evolving line of business
• Interest in taking on a challenging, “hands on” role in a collaborative, team-based culture
• Ability to work independently and proactively, prioritize work and meet deadlines
• Detail oriented nature; takes pride in a quality work product
• Self-motivated with a strong work ethic
• Technologically savvy (strong working knowledge of MS Excel and MS Word) with the ability and
desire to master new applications
• Ability to mentor junior team members in a respectful and approachable manner

• Interpret fund agreements to determine the impact on financial reporting and partner capital
accounting requirements
• Review trades entered/booked by loan administrator and compare to credit agreements to
ensure proper set up and split between applicable legal entities
• Review cash and position reconciliations prepared by loan administrator and interact with
relevant parties to resolve questions and breaks
• Review income accruals calculated by loan administrator for completeness and accuracy
• Monitor upcoming loan activity
• Interface with investment professionals on ad-hoc reporting/requests
• Review and post journal entries prepared by accounting associates for credit funds in Investran,
the firm’s fund accounting software
• Review fund level financial statements including balance sheet, schedule of investments, income
statement, statement of partners’ capital and cash flows
• Review required footnotes to financial statements; draft new footnotes that accurately and
concisely describe business arrangements
• Manage financial statement audit
• Review investor-level capital account statements
• Review capital call and distribution calculations, including waterfall calculations
• Review management fee computations
• Continuously evaluate and assess the efficiency of the firm’s reporting processes and identify and
implement solutions to problems/bottlenecks as the firm’s business and reporting requirements
change. This includes, over time, understanding the various functionality of Investran and
determining how that functionality could increase operational efficiency or effectiveness

Requirements:

• 6+ years of prior experience that demonstrates a progression of responsibility
• Bachelor’s or Master’s in Accounting or Finance; CPA or progress towards preferred
• Prior audit experience within the financial services group of a public accounting firm of recognized
national standing is preferred; prior experience with private equity partnership accounting and
allocations (including carried interest) is required
• Experience with floating rate debt instruments and accounting for private credit investments
(broadly syndicated and direct loans) is required
• Possesses an advanced understanding of investment performance calculations and reporting
metrics (IRR, cash yields, TVPI, etc.)

Compensation & Benefits:

  • $115,000 – 150,000 Base Salary
  • 20 to 30% Bonus paid at year end
  • 401K with generous match
  • Top-Tier Healthcare

 

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