Senior Manager, Fund Accounting - Private Equity

About the role

MUFG Investor Services, a division of Mitsubishi UFJ Financial Group, provides fund administration and operational solutions to public and private funds, including alternatives. It is hiring a Senior Manager, Fund Accounting Private Equity (Senior Associate Director) in Toronto, reporting to the Director, Nexus, Client Delivery. The role covers fund accounting and administration for private equity clients and managing a team of Fund Accountants.

Key responsibilities

• Provide full-range fund accounting and administration services to private equity clients, including NAV preparation and review, custody servicing, investor record-keeping and reporting.
• Manage a team of Fund Accountants delivering accounting and administration services and train them on the NAV process.
• Work with banks, auditors, brokers and custodians to ensure smooth service delivery and completion of NAV.
• Review and approve fee schedules, including management and carried interest calculations, against fund documents.
• Review and approve investor allocations, waterfalls, custody trading documents, subscriptions, capital calls and distribution wires, and meet client instructions and deadlines.
• 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 line with organizational controls.
• Allocate resources so that work is done and Service Level Agreements are met, and approve payment of fund expenses in banking systems.
• Help prepare and review audited financial statements and annual audits, and review regulatory reporting.
• Establish fund or client-specific procedures, ensure cross-training and cover, and help grow 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.
• 10+ years of experience in fund administration, including managing staff, with at least 6 years in a Private Equity role (other administrators, investment managers or fund auditors count).
• In-depth understanding of Private Equity fund administration, including fund structures, waterfall fee calculations and Limited Partner Agreements.

Required skills

• Proficiency with Microsoft Excel.
• 5+ years of experience with fund accounting software; Investran is an asset.