Main Job Purpose
The role involves working within the Fund Administration and Accounting team to provide private capital fund administration, corporate services, and investor services to private equity funds and their associated vehicles. This includes ensuring compliance with fund documentation, legal, and regulatory requirements.
The role will need to ensure that fund administration services are aligned with client SLA's, meet all internal and external deadlines, and adhere to operational policies, procedures, and checklists. As part of this, the position also entails obtaining loan documentation, maintaining records, resolving asset-related issues promptly, and ensuring compliance, accurate record-keeping, and effective communication with clients and stakeholders.
The role reports to both the Fund Administration Manager and the Fund Accounting Manager.
Key Responsibilities
Portfolio Documentation and Record-Keeping
- Obtain and maintain relevant loan documentation, including Facility Agreements, Bond Agreements, and Loan Notices
- Ensure accurate and detailed record-keeping for all portfolio-related activities
- Capture and record instrument static data and transactions in FIA
- Update the Asset Safekeeping register and maintain records for portfolio investments and associated investment vehicles in FIA
- Perform and review calculations related to the fund’s portfolio instruments, including accrued interest and projected interest, based on documents received from the client or the client’s legal team
- Perform basic calculations such as amortised cost / effective interest, accrued interest and capitalised interest
Cash Flow Monitoring and Reconciliation
- Monitor and reconcile all transactions related to investment transactions
- Reconcile cash balances and transactions to ensure the integrity of record-keeping
- Track loan and equity payments, manage payment schedules, and ensure timely and accurate processing of all transactions
Communication and Compliance
- Liaise with internal and external parties, including BNP departments, loan/facility agents, and the client/client's legal team
- Assist the client in ensuring transaction compliance and balance alignment with legal documentation and applicable fund documentation.
Onboarding and Transaction Processing
- Get involved in the establishment of new loan investments and associated loan vehicles
- Arrange for the settlement of investment operations and oversee the signing and distribution of investment documentation
- Assist in organizing board meetings in coordination with the company secretarial team
Reporting
- Provide regular reports to the client as described in the Service Level Agreement (SLA) as it relates to the loan portfolio management in addition to the integration of the loan investments into the wider entity portfolio (as appropriate)
- Establish financial reporting information relevant to the portfolio relevant for inclusion within and supporting for entity financial reporting, including liaison with the external auditors (as relevant) for the provision of supporting documentation and / or calculations
- Provide ad-hoc reporting as requested by the client and / or in support of the wider fund administration / accounting team
- Liaise with the OVRK team and Depositary team to provide any other reporting required in relation to the portfolio held by the funds
Review of Investment Documentation
- Assist the client in determining instrument classification (equity vs. debt) and identification of derivatives
- Summarize agreements in a working paper file, including an overview and analysis of key terms, considerations under accounting standards, and recommendations regarding instrument classification
- Review final signed documents to identify changes that affect initial classification and update the working paper file accordingly
From time to time, you may also be required to assist and work on ad hoc short-term tasks not detailed above. These will be discussed directly with you by management and resourced accordingly.
Technical Skills – Essential Requirements
- An excellent working knowledge of various Private Capital fund structures (GP/LP/Feeder) and the accounting required for these structures
- Excellent knowledge of US GAAP/ UK GAAP/ IFRS
- Proper and effective administration skills
- Good time management skills
- Sound analytical and problem-solving skills
- Good working knowledge of Microsoft Office Package with an emphasis on Excel and Word
Technical Skills – Desired Requirements
- Good understanding of fund structures and fund cash flows
- Good understanding of the Private Capital industry
- Good understanding of Luxembourg GAAP requirements
Qualifications & Industry Experience – Essential Requirements
- Appropriate professional qualification in accountancy
Qualifications & Industry Experience – Desired Requirements
- Experience of working to tight deadlines and capable of working independently
Personal Style – Essential Requirements
- To be a team player and to help and step in to assist other members of the team when required
- Good interpersonal and communication skills and able to deal with various parties both internal and external
- Organisational skills are key, with an ability to manage workloads and to meet all deadlines
- Demonstrable motivation and ability to learn new applications and processes
- Good attention to detail
Personal Style – Desired Requirements
Ability to work consistently to meet client deadlines
Regulatory Requirements
25 hours CPD required per annum
