Job Description
Ares Management is seeking a Senior Associate to join the Registered Secondaries Accounting team. The Senior Associate will take a lead role in the day-to-day accounting, financial reporting, net asset value (NAV) processes and operational control environment for registered investment companies investing in private equity secondaries and related structures. The individual will review administrator deliverables, coordinate across internal functions and external service providers, and help strengthen processes as the registered products platform grows.
Primary functions and essential responsibilities
Responsibilities include:
• Lead the monthly NAV process, including detailed review of fund administrator packages, cash and position reconciliations, income and expense activity, and resolution of identified breaks.
• Coordinate monthly and quarterly closes and prepare or review journal entries, account reconciliations, supporting schedules and close workpapers.
• Review accounting for secondary investments and related structures, including capital calls, distributions, fees, investment activity and information received from underlying fund managers.
• Oversee daily cash activities, invoice coding and payment processing, and coordinate with operations and other teams to resolve cash and position differences.
• Review underlying fund financial statements, capital account statements and transaction notices and assess the completeness and accuracy of recorded investment activity.
• Review fund general ledgers, trial balances, administrator records and custody records and drive timely resolution of reconciliation items.
• Prepare and review registered fund regulatory reporting, including Form N-PORT, Form N-2, Form N-CSR, Form N-CSRS as applicable, and support other SEC and compliance reporting requirements.
• Review fund operating expense budgets, accruals and variance analyses and coordinate updates with relevant stakeholders.
• Prepare and review recurring and ad hoc reporting for portfolio management, investor relations, legal, compliance, tax and other internal stakeholders.
• Serve as a primary day-to-day contact for the fund administrator and coordinate with auditors and internal teams to meet reporting and audit deadlines.
• Assist with oversight and development of junior team members through review, coaching and knowledge sharing.
• Identify and lead process improvements and technology implementation initiatives, including, automation and control enhancements to support accuracy, efficiency and scalability; lead or contribute to special projects as needed.
Qualifications
Education: Bachelor's degree in accounting or finance
Experience Required:
• 4-7 years of experience in fund accounting, investment accounting, private equity accounting, registered funds or public accounting.
• Experience with private equity or other alternative investment products strongly preferred.
• Working knowledge of US GAAP investment company accounting and experience with registered fund financial or regulatory reporting preferred.
• Public accounting experience and/or CPA progress is a plus.
• Experience with Advent Geneva, eFront, Microsoft Dynamics 365 Business Central, OneStream or similar systems is a plus.
General Requirements:
• Strong understanding of accounting principles, investment activity and financial reporting controls.
• Demonstrated ability to review complex work, identify issues and drive items to resolution.
• Ability to manage multiple priorities and deadlines in a fast-paced, high-growth environment.
• Ability to work independently and collaborate effectively with internal stakeholders and external service providers.
• Strong analytical, problem-solving, written and verbal communication skills, including the ability to summarize complex matters clearly.
• Intermediate to advanced Microsoft Excel skills; experience with Power BI, Alteryx or other automation and business-intelligence tools is a plus.
• Strong attention to detail, sound judgment, ownership mindset and commitment to high-quality financial reporting.
Reporting Relationships
Chief Accounting Officer, Registered Products, Secondaries
Compensation
The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.
$130,000 - $150,000
The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.
Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.
There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.
