Vice President of Fund Accounting

Chesapeake Search Partners is searching for a VP of Fund Accounting for a client who seeks to build and invest in value-added business platforms that have a proprietary position in their markets, source investments with favorable supply/demand dynamics and bring intense focus to operating results. This position is responsible for managing all aspects of the fund accounting and deliverables of the company’s close-ended and open-ended funds and is responsible for the integrity and timeliness of the funds financial close and financial and investor reporting with respect to GAAP, company policies and contractual agreements. This position will manage the people, process and technology related to fund accounting and is focused on the understanding of the agreements, investor relationships and strategic focus of the funds.

Essential Duties and Responsibilities

1. Directly responsible for all financial and related operational aspects of fund accounting for multiple funds and/or multiple lines of business for vertically integrated funds:

• Understanding of complex legal documents, including partnership documents and lender agreements and maintaining the fund financial knowledge.
• Oversee the Fund Accounting team to ensure fund(s) is reporting in compliance with partnership agreements including an understanding of key deal terms and influence on reporting.
• Ensure delivery of accurate and timely quarterly and annual reporting of fund related entities and consolidated results.
• Communicate and engage the Asset Management team in the understanding of the consolidated financial results.
• Ensure that the fund has cash available for operations and distribution to investors, as needed
• Ensure that investors are receiving timely and accurate responses to all inquiries.
• Support tax compliance filings and ensure information is accurate and provided in a timely manner. Identify and understand partnership K-1’s and implications of REIT dividends and foreign withholdings to the investors as well as optimizing shareholder loans.
• In conjunction with Director, Financial Reporting own and document policies and procedures related to fund and consolidated accounting and associated internal controls. Ensure financial information is maintained in accordance with GAAP and the company’s policies and procedures.
• Manage and oversee the external audit process related to the funds including drafting of financial statements and/or new footnotes to the financial statements.
• Resolve and document technical accounting issues related to both existing and prospective accounting standards.

2. For funds engaged with fund administration services

• Serve as lead contact with fund administrator for ensuring alignment with company requirements and consideration of all key fund related activities
• Ensure the provider is compliant with and reporting in accordance with the terms of the service agreement in a timely and accurate manner
• Ensure provider is managing and reporting the fund activities in compliance with partnership agreements

3. Serve as a business partner to internal customers including fund and asset management, capital markets, tax, debt and others. Identify and document key fund measurements.

• Proactively develop an effective relationship with the business leaders. Understand, anticipate and balance competing objectives of stakeholders and deliver effective solutions.
• Understand strategic fund approach and ensure their reporting is supporting this strategy.
• Meet regularly with internal users of department information to ensure their needs are being adequately and appropriately met.

4. Suggest and implement process improvements to existing practices and procedures to gain efficiencies and develop best practices.

• Develop more efficient and/or more effective ways to organize, deliver, or consolidate work products ensuring effective use of information systems, process redesign and/or reengineering of available information.
• Research and identify ways to incorporate AI and other software based systems into standard business functions and encourage team to expand use of similar technologies.

5. Provide daily leadership to the fund accounting team.

• Manage and supervise the day-to-day activities of the fund accounting team.
• Ensure all critical deadlines are met.
• Responsible for staff training, appraisals and goal setting and holding staff accountable for performance as well as encouraging ongoing peer to peer and manager led trainings. Encourage employees to expand their company specific and business background in our industry.

Qualifications:

• Be well versed in the application of US GAAP and IFRS and investment accounting knowledge.
• Have effective and proven project management skills.
• Be able to engage others to actively participate in projects.
• Be able to work effectively as a team member and a team leader.
• Be able to motivate, lead and develop staff.

Education and Experience:

• 10-15 years private equity fund accounting experience, including working with institutional investors. Real estate experience preferred. Public accounting experience a plus.
• A Bachelor’s degree in Accounting.
• MBA and/or CPA is preferred.