Head of Fund Accounting

Posted: Thursday, April 29, 2021
Location: New York

Department: Accounting - Assured Investment Management LLC
Direct report(s): Yes

General purpose of position

Assured Investment Management is seeking to hire a Head of Fund Accounting to join an experienced team supporting existing and upcoming fund launches across all business lines.  Fund Accounting is responsible for executing AssuredIM’s shadow process over investor allocations, allocation of expenses and reporting (both regulatory and financial) covering hedge fund, private equity and hybrid structures. More specifically, Fund Accounting executes AssuredIM’s day-to-day operations, including estimation and collection of management and performance fees (including complex waterfall calculations), fund expense allocations, financial statement review and liaising with our administrators and other internal departments to ensure that the integrity of the accounting data remains intact. The successful candidate will be able to perform duties efficiently and effectively and must have an excellent eye to detail. The individual must be agile and adept in change management, comfortable with the ambiguity of change, and work with the team to execute/define/document the department’s procedures.

Primary duties/responsibilities

  • Analyze and project overhead and investment-based expenses, ensuring proper allocation among funds and related structuring vehicles, side-pockets or other relevant segregations.
  • Maintain and manage in-house investor allocations (including review of investor documents) and waterfall calculations and reconcile to our third-party administrator.
  • Review financial statement schedules prepared by our administrator, in support of both annual fund audits and quarterly public company reporting requirements of AssuredIM’s parent company.
  • Primarily manage the fund audit process, including drafting language for new fund launches or new developments in accounting policy,
  • Aggregate information required for regulatory reporting (Form PF, PQR, BE filings, etc.) for our Legal and Compliance department, and liaise on special requests or regulatory inquiries.
  • Onboard newly launched funds into AssuredIM’s accounting infrastructure, considering nuances in structure that may require special implementation.
  • Collaborate with Head of Operations and Investment Accounting and other stakeholders to build effective infrastructure and process for AssuredIM’s recently launched pure private equity structures, including American waterfalls and deal-level reporting.
  • Review work of others, providing constructive feedback and coaching to develop team skills.
  • Manage Fund Accounting’s relationships with other departments, firm and segment management, and key vendor partners.
  • Primary management responsibility for a team of controllers and fund accountants of varying strengths and skill sets.
  • Identify process gaps, develop solutions, and consistently look to drive efficiency improvements.

Specific skills, competencies, resources and/or software/technology used on the job

  • A self-starter with the ability to operate and prioritize across numerous workstreams concurrently and manage the expectations of the various stakeholders appropriately
  • Excellent verbal and written communication skills required
  • Great attention to accuracy of numbers in financial reports. Must be very comfortable and adept at spreadsheet based analysis and numbers based problem solving.
  • Knowledge of required US GAAP disclosures for investment companies. Understands the flow of financial statements and can identify and resolve errors efficiently.
  • Strong preference for candidates with SEC reporting experience
  • A team player that proactively looks to add value and assist the rest of the team where possible
  • Ability to maintain they highest professional and ethical standards. Assured Guaranty has earned a reputation for honesty, professionalism, fair dealing and transparency in a highly competitive industry. Must always commit to these values and uphold them.

Education, certifications and/or experience requirements

  • 10-14 years’ work experience in public/industry mix or industry (no direct public) in the investment/fund accounting function with regards to hedge funds, private equity or related asset management firms (not directly out of an administrator), with significant experience managing multiple direct reports.
  • CPA required.


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