Staff Accountant/Administrator
Position Title: Staff Accountant/Administrator
Department: Finance – General Partner (GP) Services
Reports To: GP Services Manager
Location: Boston
Group Objective
To accurately and timely report the books and capital accounts of the carried interest holders and General Partner entities of the Company on a U.S. federal income tax basis. To issue and maintain awards of carried interest and calculate the allocation of income and distribution based on these awards. To provide reporting for tax compliance, carryholders and management. Provide best in class service to all clients. Collaborate with other teams to meet the ongoing and changing needs of the Firm as a global leader in the private equity industry.
Specifications of Core Function
- This position reports to the GP Services Manager and will assist with the day to day needs of the GP Services group as they relate to the administration of carried interest and maintaining the books and capital accounts of the General Partner and carried interest entities.
- The position’s responsibilities require that the individual be exposed to confidential employee information. Strict security of all confidential information is required.
Primary Responsibilities
- Maintain carried interest and General Partner entity information in Investran and Partners Capital (an internally developed database)
- Maintain investor information (contact information, tax jurisdiction, department, level, hire/termination date, etc.) in Investran
- Maintain investor capital account activity in two portals
- Reconcile balances between two systems on a monthly basis
- Maintain Xtranet site (internal site for current and former employees) which includes uploading documents weekly and providing users and tax advisors with access as needed
- Assist with the preparation of presentation materials to senior management
- Compilation and distribution of quarterly and annual reports to carried interest holders and senior management
- Quarterly preparation of carried interest awards documents and distribution of awards through DocuSign
- Preparation and filing of certain Foreign and U.S. election forms relating to carried interest awards
- Assist in the calculation of carried interest income and distribution allocations to carryholders
- Cash management responsibilities include:
- record cash activity in the general ledger weekly and reconcile cash at month end
- assist with the investment of any excess cash
- assist with reimbursement of expenses back to the management company
- assist with bank account maintenance, including opening and closing of accounts and KYC requests
- assist with maintenance of carry holder wire instructions for distributions
- Assist with responding to requests from carry holders, including running reports, preparing ad hoc reports and compiling information for our non-U.S. employees to assist them with their tax filings
- Assist in the delivery of U.S. Schedule K-1s to carry holders and co-investors
- Various ad-hoc projects including assist in onboarding of employees to the co-invest loan program with outside banks, assist in the quarterly compliance of the co-invest loan program, GP Services’ team process documentation and testing software developments
Qualifications
Experience and Technical skills
- Bachelor's degree with a major in Accounting or Finance; CPA preferred
- Two plus years of professional accounting and/or tax experience
- Prior private equity/venture capital industry a plus
- Knowledge of GAAP accounting principles and financial reporting concepts
- Proficient in using Excel, Word, and other Microsoft Office programs. Experience with Investran a plus
- Comfortable with learning new technology (Asana, Tableau, DocuSign)
- Interpersonal skills
- Brings a strong work ethic, honesty and willing to take ownership
- Is an energetic, self-motivator with the ambition and drive to continuously learn, grow and improve in a fast paced and dynamic environment
- Acute attention to accuracy and detail
- Produces excellent work product and delivers superior customer service
- Listens and communicates effectively, both verbally and written
- Ability to prioritize activities while working on multiple projects to achieve target deadlines; knows when to ask for help
- Team player