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iCapital is seeking a Fund Finance professional to take on a hands-on operational role with end-to-end responsibility for Direct (Evergreen) funds and fund sponsors. This position involves close collaboration with third-party administrators to oversee fund accounting and investor reporting, including capital activity, financial statements, audits, and tax deliverables. The role operates within UCI PT2 structures and supports product enhancements such as hedged share classes, requiring an entrepreneurial mindset and interest in product innovation.
Key responsibilities include partnering with third-party administrators to ensure timely monthly valuations and accurate general ledger entries in accordance with fair value accounting principles. You will review fund expenses and accruals against approved budgets, identify variances, and propose adjustments. The role requires reviewing investor allocations to ensure profits, losses, and fees are calculated per partnership operating agreements, and overseeing hedged share classes including related calculations and reporting impacts.
Additional duties encompass reviewing and approving monthly investor capital account statements and management fee calculations, reconciling accounting data between iCapital systems and third-party administrators using automated tools, and coordinating with internal and external stakeholders to investigate and resolve discrepancies. You will monitor fund compliance with partnership operating agreement terms and handle ad hoc operational and reporting requests. The position requires acting as the Fund Finance primary point of contact for GPs in Direct Investing Fund structures, responding to queries, communicating key deliverables and timelines, and supporting new share class setup and fund implementations.
Required qualifications include a bachelor's degree in accounting, finance, or related field, and 5+ years of experience in fund accounting, fund operations, or asset management within financial services. Big 4 accounting or audit experience is preferred, as is experience with alternative investment fund administration. Strong understanding of capital activity, investor allocations, fee structures, partnership accounting, and hedging strategies is essential. The ideal candidate demonstrates exceptional attention to detail, strong organizational skills, ability to manage multiple priorities, and proven ability to work independently while collaborating effectively across teams.
