About the Opportunity
Our client In New York City is looking for an Audit Manager or SM from a national CPA firm to join their team as an Assistant Controller and cover their expanding BDC Fund. The former Assistant Controller is being promoted to Controller after just 1.5 years of serving in this position. While having experience and exposure to BDC or credit funds would be a plus, it is not required. They are open to seeing all types of backgrounds in the financial services and alternative investment spaces, as long as you are willing to learn! As this individual grows, they will take on more responsibilities with their public BDC and interval funds. This firm has a big runway for growth as it continues to diversify and grow its assets.
The annual base salary range is $150,000 to $175,000. Actual compensation offered to the successful candidate may vary from posted hiring range based upon geographic location, work experience, education, and/or skill level, among other things. Details about eligibility for bonus compensation (if applicable) will be finalized at the time of offer.
Job Responsibilities
- Support the Controller in overseeing the operational aspects of the credit platform’s Business Development Company (BDC) (LRFC)
- Evaluate quarterly financial performance through analysis of balance sheet and income statement data
- Collaborate with Operations for the timely closure of monthly and quarterly financial records, including scrutinizing trade and re-organization activities
- Analyze and record income generated from various investment instruments, including debt securities, CLO equity, joint ventures, and derivatives
- Aid in ongoing portfolio monitoring and review of daily valuation models
- Coordinate with external auditors during annual 10-K audits and quarterly 10-Q audit reviews
- Ensure the implementation and maintenance of effective internal controls, providing documentation to external auditors annually
- Liaise with internal and external tax teams for compliance matters, dividend analysis, and other ad-hoc requests
- Assist in budgeting, forecasting, expense management, and conducting financial analysis as needed
- Review additional public regulatory filings as required
- Monitor asset and liability management, ensuring compliance with regulatory standards
- Focus on system enhancements to optimize accounting and financial reporting processes, supporting both current and potential future entities
- Support the Controller and CFO in streamlining and enhancing overall processes within the BCP Credit Platform
- Supervise external audit activities to ensure compliance with regulatory and tax reporting obligations
- Review month/quarter-end Net Asset Value (NAV) reports from fund administrators, including reconciliations and expense accruals
- Generate and distribute ad-hoc reports to relevant stakeholders, including senior management, deal teams, and investors
- Collaborate with deal teams on investment valuation and financial reporting requirements
- Coordinate with operations teams on fund transactions and activities
- Manage fund expense budgets and allocations, updating expenses in coordination with fund administrators
- Assess current financial and accounting processes, suggesting and implementing enhancements where necessary.
Job Requirements
- B.S. degree in Accounting, Finance, Business or related field
- CPA, MST, or MBA is preferred
- 4-10 years of Big 4 or relevant work experience in Fund Accounting
- Microsoft Excel and strong analytical skills
- Knowledge of portfolio accounting system (VPM, WSO, Geneva, etc.) preferred
- Public accounting experience preferred
