SUMMARY
The Assistant Manager, Financial Administration - Retail Alternatives is responsible for complex financial, compliance, performance, and treasury reporting requiring an elevated level of specialized expertise in retail alternative products (including interval funds, tender offer funds, BDCs, REITs, and '34 Act private funds). This role also supports the preparation, coordination, and filing of SEC reports (10-Ks and 10-Qs) for Business Development Companies (BDCs) registered under the Investment Company Act of 1940.
KEY ACCOUNTABILITIES
FINANCIAL STATEMENTS AND REPORTING
- Prepares complex fund financial statements, including Forms 10-K, 10-Q, N-23C-2, N-CEN, N-CSR, N-PX, and 24f-2 on a quarterly, semi-annual, and annual basis for distribution to advisors and the SEC.
- Prepares, validates, and supports client account reporting, including financial statements, audit deliverables, accruals, and tax packages at the fund, portfolio company, and investor levels, in accordance with service level agreements.
- Supports planning and review of financial, board, regulatory, and status reporting to ensure accuracy and compliance with SEC and IRS requirements.
- Maintains and prepares periodic (daily, weekly, monthly) fund reports.
- Compiles and reviews quarterly reporting materials for Board Members.
- Reviews, approves, and distributes internal reports and fund performance information as needed.
- Provides training to the Financial Administration team on workflow processes.
FINANCIAL ADMINISTRATION
- Prepares expense analyses (e.g., management and 12b-1 fees).
- Monitors fund performance using Confluence and responds to related inquiries.
- Assists with fund budgeting and financial planning.
- Calculates monthly management fees and obtains appropriate approvals.
ANNUAL AUDITS
- Coordinates and oversees annual audits with outside auditors, clients, and printers.
COMPLIANCE
- Ensures financial results and disclosures in SEC filings are accurate and compliant with applicable accounting standards.
- Prepares financial statement production schedules to support timely reporting and audit cycles.
- Monitors SEC filing deadlines to ensure compliance.
PERSONNEL MANAGEMENT
- Manages associates within department including, but not limited to, hiring, training, and developing associates, delegating work assignments, writing, and conducting performance appraisals, salary recommendations, coaching and counseling, and administering corrective actions.
- Conducts one-on-one and team meetings with associates on a regular basis to discuss new procedures, problems, and issues.
- Establishes team and individual goals for department.
- Fosters performance of associates and the processes used by them; holds the associates accountable for their work.
WORKING RELATIONSHIPS
- Assists in the management of relationships with client companies, ensuring timely resolution of requests and high quality of customer service.
- Acts as an escalation point for escalated issues and complex problems; resolves where appropriate to provide effective support.
- Regular contact with clients, auditors and third-party vendors regarding fund performance-related questions, reporting, audits, etc.
- Regular contact with the management to complete and get clarification on special projects.
- Daily contact with the Financial Administration team regarding fund financial statements, reports, compliance, etc.
May perform other duties as required and assigned.
EDUCATION AND EXPERIENCE
- Bachelor's degree in accounting, finance, economics, business, or related field.
- 4 years of experience in fund accounting or fund administration.
- Management or leadership experience.
- Experience working within the financial services industry.
- Experience with the preparation of financial statements related to mutual funds.
- Equivalent education and experience will be considered.
KNOWLEDGE
- Retail alternative investment products (interval funds, tender offer funds, BDCs, REITs, 34 Act private funds).
- Disclosure controls and procedures to provide executive management with an elevated level of comfort in the accuracy of financial statements.
- Financial reporting and performance systems.
- Stocks, bonds, options, and foreign securities, and derivatives.
- Disclosure controls and procedures to provide executive management with an elevated level of comfort in the accuracy of financial statements.
- Microsoft Office Suite.
- Adobe Acrobat.
SKILLS AND ABILITIES
- Aligns associates with company values and goals.
- Plans and delegates the work of others.
- Motivates and inspires others.
- Assesses the performance of self and associates to make improvements or take corrective action.
- Plans and develops systems and procedures to improve operating quality and efficiency of department in accordance with company policies and procedures.
- Troubleshoots issues utilizing creative and critical thinking skills.
- Multitasking, analytical, and organizational skills.
- Initiative-taking, strategic, and meticulous approaches with a strong commitment to quality, efficiency, and effectiveness.
- Demonstrates personal integrity, responsibility, and accountability.
- Effectively uses resources such as time and information in conjunction with associates.
- Participates in solving problems and making decisions.
- Presents and expresses ideas and information, written and oral, clearly, and concisely.
- Actively listens to others to achieve understanding and supports an open exchange of ideas and information.
- Identifies needs, arranges for, and obtains resources to accomplish individual and department goals.
- Establishes and develops effective working relationships with associates and clientele during both favorable and unfavorable situations.
- Modifies team and individual priorities and deadlines in response to added information, changing conditions, or unexpected obstacles and ensures completion.
