Fund Accounting and Administration Specialist

4 days ago

Toronto, Ontario, Canada MUFG Investor Services Full time
About MUFG Investor Services

At MUFG Investor Services, we offer a Brilliantly Different career with opportunities to grow and develop in a dynamic environment. Our vibrant culture is characterized by connected teams, love of innovation, laser client focus, and next-level learning and development.

We are part of the Mitsubishi UFJ Financial Group family, partnering with over 480 loyal global investment firms to provide administration, asset services, banking, and fund financing. With locations in 14 global locations, we provide an exceptional hub of talent to thrive.

Job Summary

We are seeking a highly skilled Fund Accounting and Administration Specialist to join our team in Private Equity Fund Administration. As a key member of our team, you will be responsible for providing a full range of fund accounting and administration services to private equity fund clients, including Net Asset Value (NAV) preparation and review, custody servicing, investor record keeping, and reporting.

You will manage a team of Fund Accountants in performing accounting and administration service delivery to customers and train staff on all aspects of the NAV process. You will work with banks, auditors, brokers, and custodians to ensure smooth service delivery to customers and completion of NAV.

This role requires a strong understanding of the private equity fund administration industry, including multiple fund structures, fee calculations, financial instruments, and fund offering documentation review. Experience with fund accounting software such as Geneva, Investran, or Yardi is beneficial, and knowledge of Bloomberg is a plus.

Key Responsibilities
  • Provide a full range of fund accounting and administration services to private equity fund clients, including NAV preparation and review, custody servicing, investor record keeping, and reporting.
  • Manage a team of Fund Accountants in performing accounting and administration service delivery to customers and train staff on all aspects of the NAV process.
  • Work with banks, auditors, brokers, and custodians to ensure smooth service delivery to customers and completion of NAV.
  • Approve fee schedules, including calculation of management and carried interest, ensuring all calculations follow applicable fund documents.
  • Review and approve investor allocations for each NAV cycle, waterfall calculation and reviews, custody trading documents, Subscription and process Capital Calls and distributions wires, ensuring execution as instructed by clients and deadlines are met.
  • Work with both the internal AML team and the administrators to ensure all AML requirements are met.
  • Respond to all client queries.
  • Review and sign any schedules, reports, and files for review ensuring they are completed in compliance with organization controls.
  • Resource Allocation to ensure that all work is carried out and Service level agreement met.
  • Approve payment of fund expenses in applicable banking systems, ensuring controls are followed.
  • Help with preparation and review of audited financial statements and annual audit.
  • Review reporting for the regulatory authorities.
  • Establish fund or client specific procedures covering all aspects of our services; Ensure cross training and cover in place for all services provided to client.
  • Help with the growth of the local office.
  • Create ideas for improving the NAV process, technological improvements, and client reporting.
  • Participate in multiple system initiatives and projects.
Qualifications and Requirements
  • Post-secondary education/University Degree with a concentration in finance or accounting.
  • Demonstrable experience working in the fund administration industry with experience managing staff. This can include other administrators, investment managers, or fund auditors.
  • Experience with the fund administration business and the drivers of profitability and success.
  • High proficiency with Microsoft Excel is an essential requirement for this role.
  • In-depth understanding of the private equity fund administration industry. This includes multiple fund structures, fee calculations, financial instruments, and fund offering documentation review.
  • Experience with fund accounting software Geneva, Investran, or Yardi or working knowledge of Bloomberg would be beneficial.
  • Completion or interest in a professional accounting designation (CA, CGA, CMA, ACCA, ICAEW, CFA (or equivalent)) is an asset.
Compensation and Benefits

The estimated salary for this position is $120,000 - $180,000 per annum, depending on qualifications and experience. In addition to a competitive salary, we offer a comprehensive benefits package, including medical, dental, and vision insurance, 401(k) matching, and generous paid time off.

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