Funds Administrator

Job Description

Job Description

GENERAL JOB DESCRIPTION

MAI sponsors several private funds, mostly private equity and real estate funds. The structures are both limited partnerships and limited liability companies. The Funds Administrator will work with internal and external teams responsible for private fund accounting/administration, portfolio analytics and reporting, investment execution/trade settlement, compliance, and related investor communications.

MAJOR DUTIES AND RESPONSIBILITIES

Performs the fund administration process including the following:

• Track monthly, quarterly, and annual financial reporting (emphasis on NAV, IRR, leverage, and cash flow).
• Track underlying investment cash flow, capital calls & distributions for bank account reconciliations.
• File fund books and records with lenders, regulators, investors, and tax authorities.
• Comply with anti-money laundering (AML) and know your client (KYC) monitoring and reporting.
• Reviews quarterly financial reporting to ensure they are appropriate for each fund:
• Track investment fair value changes for mark-to-market accounting to private investment partnerships, and direct investments in underlying real estate and other portfolio companies.
• Review monthly and quarterly investment income and professional fee expense accruals.
• Review administration and management fees for consistency with the LPA and other agreements.
• Reconcile partner capital account statements to underlying accounting records and provide it to investors.
• Comply with financial reporting deadlines and file tax returns by their statutory due dates.
• Assist with invoice evaluation and expense payments.
• Assist with annual audits, including preparation of confirmation requests and financial statement compilation:
• Compile and calculate various supporting schedules that support the preparation of GAAP financial statements and related foot notes for investment companies.
• Serve as audit liaison by providing requested documents and responding to required inquiries.
• Reconcile financial statements and support workpapers to source documents.
• Review underlying portfolio company financial models for reasonableness, consistency and proper disclosure with accounting and valuation standards.

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EXPERIENCE/CREDENTIALS

• BS or BA degree in Accounting, Finance, Economics or related Business.
• Proficiency in Microsoft Suite (Excel, Outlook, PowerPoint, Word) and Adobe Acrobat Pro.
• Experience with a financial institution, investment advisor, public accounting firm, auditors, hedge funds, or private funds is a plus.
• Experience in SalesForce is a plus
• Knowledge of GAAP financial accounting rules is a plus.
• Knowledge of federal and state taxation laws and regulations is a plus.

COMPETENCIES

• Thrives in a fast-paced and dynamic team-based environment.
• Maintains absolute confidentiality of all client information and safeguards client and firm data; maintains high ethical standard in all practices.
• Excellent written and verbal communication skills.
• Strong organizational skills and attention to detail.
• Ability to work in a team environment, but also comfortable leading the effort when called upon.
• Must be adaptable in a constantly evolving department and fast-paced environment.
• Professional demeanor, superb work ethic, high level of personal ethics and integrity.

FEATURED BENEFITS:

• Medical Insurance
• Dental Insurance
• Vision Insurance
• 401(k)
• Health Savings Account
• Paid Maternity Leave
• Paid Parental Leave
• Tuition Reimbursement