Senior Manager, Fund Accounting, Private Markets

About the role

MUFG Investor Services, a division of Mitsubishi UFJ Financial Group, provides fund administration, banking, payments, custody and regulatory services to public and private funds. It is hiring a Senior Manager, Fund Accounting, Private Markets in Toronto, reporting to the Director, Nexus, Client Delivery. This is a new position.

Key responsibilities

• Provide fund accounting and administration services to private equity and private debt fund clients, including NAV preparation and review, custody servicing, investor record keeping and reporting.
• Manage a team of Fund Accountants and train them on all aspects of the NAV process.
• Work with banks, auditors, brokers and custodians to ensure smooth service delivery and completion of NAV.
• Approve fee schedules, including management and carried interest calculations, in line with fund documents.
• Review and approve investor allocations, waterfall calculations, custody trading documents, subscriptions and capital call/distribution wires.
• Ensure AML requirements are met with the internal AML team and administrators.
• Respond to client queries and review and sign schedules, reports and files in compliance with controls.
• Approve payment of fund expenses, help prepare audited financial statements and annual audits, and review regulatory reporting.
• Help establish fund-specific procedures, ensure cross-training and cover, and support the growth of the local office.
• Propose improvements to the NAV process, technology and client reporting, and take part in system initiatives and projects.

Required profile

• Post-secondary education or university degree with a concentration in finance or accounting.
• Demonstrable experience in fund administration, including managing staff such as other administrators, investment managers or fund auditors.
• In-depth understanding of the private equity fund administration industry, including fund structures, fee calculations, financial instruments and offering documentation.
• Professional accounting designation (CA, CGA, CMA, ACCA, ICAEW, CFA or equivalent) is an asset.

Required skills

• High proficiency with Microsoft Excel is essential.
• Experience with fund accounting software (Geneva, Investran or Yardi) or working knowledge of Bloomberg is beneficial.