Manager Fund Accounting

The Apex Group was established in Bermuda in 2003 and is now one of the world’s largest fund administration and middle office solutions providers.

Our business is unique in its ability to reach globally, service locally and provide cross-jurisdictional services. With our clients at the heart of everything we do, our hard-working team has successfully delivered on an unprecedented growth and transformation journey, and we are now represented by over circa 13,000 employees across 112 offices worldwide.Your career with us should reflect your energy and passion.

That’s why, at Apex Group, we will do more than simply ‘empower’ you. We will work to supercharge your unique skills and experience.

Take the lead and we’ll give you the support you need to be at the top of your game. And we offer you the freedom to be a positive disrupter and turn big ideas into bold, industry-changing realities.

For our business, for clients, and for you

The Role & Key Responsibilities:

The Manager will work as part of a team-servicing clients, will have direct communication, and will work towards becoming an extension to the client’s finance organization.

Fund and Investor Accounting:

• Prepare work paper files including investment activity, management fee calculations, IRR calculation, unrealized/realized waterfall calculations, etc.
• Review fund reimbursable expenses.
• Prepare capital call and distribution calculations, sources/uses of cash, allocations, and investor notices.
• Prepare fund financial statements with footnotes and supporting schedules.
• Prepare partner allocations and capital account statements.
• Understand/review of LPAs, purchase/sales agreement, side letters, etc.
• Coordinate and support the audit for both SSAE 16 audit and fund audit.
• Support the tax team with information to prepare tax compliance/reports.
• Assist with other regulatory reporting.
• Responsible for investor and partner queries (i.e. audit confirmation, investor cash flow, IRR analysis, etc.).
  
  

Cash forecasting and budgeting:

• Responsible for bank and brokerage reconciliations.
• Assist with Ad hoc financial analysis for client.
• Assist with credit facility drawdowns for the fund.
  
  

Portfolio Accounting:

• Track portfolio company transactions (purchases, income, liquidity).
• Understand complex investment structures (hold companies, blockers, tax withholding, etc.).
• Calculate investment IRR.
• Accounting for holding companies and blocker entities.
  
  

Skills Required:

• Bachelor’s degree in accounting/finance required.
• 6 -10 years of professional experience (A mix of private and audit preferred).
• Minimum 3-6 years of direct Private Equity experience (Hedge Funds do not count as relevant experience).
• CPA Preferred.
• Strong Fund and Partner accounting knowledge.
• Credit funds exposure.
• Portfolio accounting, complex investment structures preferred.
• Supervisory experience.
• Strong written and verbal communication skills.
• Highly motivated with ability to multitask.
• Special Skills:
• Experience in fund accounting with a focus on private equity experience.
• Knowledge with LPA or other governing documents.
• Experience with waterfall calculations.
• Basic knowledge of Level 3 valuation methodologies.
• Experience with audit process, including internal control and test of details.
• Knowledge of US GAAP with an emphasis on investment partnerships.
• Our Services Focus On:
• Fund accounting and financial reporting - Offering exceptional technical accounting and reporting capabilities tailored to the specific needs of structures and clients.
• Governance, management and control - Ensuring statutory duties and governance are undertaken with appropriate diligence.
• Administration of Private Equity structures - Delivering a responsive, client focused administration service.
  
  

Salary ranges from USD $ 90,000 - $ 110,000 additional market competitive variable uncapped compensation based on performance. Compensation within this range is dependent on individual's skills, experience and qualifications.

We pride ourselves in our commitment to fostering a connected and inclusive culture, all our opportunities at Apex have four (4) days in office requirement.

Disclaimer: Unsolicited CVs sent to Apex (Talent Acquisition Team or Hiring Managers) by recruitment agencies will not be accepted for this position. Apex operates a direct sourcing model and where agency assistance is required, the Talent Acquisition team will engage directly with our exclusive recruitment partners.

Disclaimer: Unsolicited CVs sent to Apex (Talent Acquisition Team or Hiring Managers) by recruitment agencies will not be accepted for this position. Apex operates a direct sourcing model and where agency assistance is required, the Talent Acquisition team will engage directly with our exclusive recruitment partners.