Key Responsibilities and Required Skills for a Fund Administrator

🎯 Role Definition

This role requires a highly meticulous and proactive Fund Administrator to become a cornerstone of our fund operations team. This role is crucial for ensuring the integrity, accuracy, and efficiency of our fund's day-to-day administrative and accounting functions. The ideal candidate is a detail-oriented professional with a strong background in financial services, who thrives in a fast-paced environment and is committed to delivering exceptional service to both internal stakeholders and external investors. You will be instrumental in maintaining the financial health and regulatory compliance of our diverse portfolio of funds, including private equity, venture capital, and hedge funds.

📈 Career Progression

Typical Career Path

Entry Point From:

Fund Accountant
Financial Services Auditor (Big 4 or mid-tier)
Portfolio or Investment Operations Analyst
Financial Reporting Analyst

Advancement To:

Senior Fund Administrator / Senior Fund Accountant
Fund Administration Manager / Supervisor
Assistant Vice President (AVP), Fund Services
Director of Fund Operations

Lateral Moves:

Investor Relations Specialist
Compliance Officer (Fund-focused)
Treasury Analyst
Product Controller

Core Responsibilities

Primary Functions

Execute the end-to-end process of calculating and reviewing daily, weekly, or monthly Net Asset Values (NAVs) for a portfolio of funds, ensuring accuracy and timeliness.
Prepare and distribute comprehensive financial statements and supporting schedules on a quarterly and annual basis, in accordance with IFRS, US GAAP, or other relevant accounting standards.
Manage all aspects of the investor lifecycle, including processing subscriptions, redemptions, and transfers, and ensuring all associated documentation is complete and accurate.
Coordinate and execute the capital call and distribution processes, including preparing notices, tracking responses, and ensuring the timely movement of funds.
Act as a primary point of contact for investor queries, providing timely and professional responses regarding their holdings, fund performance, and account activity.
Perform daily and monthly cash, position, and trade reconciliations between our internal records and those of prime brokers, custodians, and administrators, promptly investigating and resolving any breaks.
Calculate complex management fees and performance/incentive fees in strict accordance with the fund's Limited Partnership Agreement (LPA) or Private Placement Memorandum (PPM).
Serve as a key liaison for the annual audit process, preparing detailed audit schedules, financial reports, and responding to inquiries from external auditors to ensure a smooth and efficient audit.
Oversee the processing and payment of all fund-related expenses, ensuring they are properly accrued, coded, and authorized according to fund documents and internal policies.
Assist in the preparation and review of regulatory and tax filings, including Form PF, Form CPO-PQR, FATCA, and CRS reporting.
Conduct Anti-Money Laundering (AML) and Know-Your-Customer (KYC) checks on new and existing investors, maintaining a robust and compliant onboarding file.
Monitor fund cash positions and coordinate with the treasury team to manage liquidity, process wire transfers, and cover operational expenses.
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Maintain the integrity of the fund accounting system (e.g., Investran, Geneva, eFront) by ensuring all transactions, valuations, and investor data are recorded accurately.
Prepare bespoke and standardized investor reports, including capital account statements, performance reports, and portfolio summaries.
Assist in the valuation process for private and illiquid investments, gathering supporting documentation and applying approved valuation methodologies.
Monitor and interpret partnership agreements and other legal documents to ensure all fund activities are compliant and accurately administered.
Process and record all portfolio company-related transactions, including acquisitions, follow-on investments, and dispositions.
Liaise with legal counsel, tax advisors, and other third-party service providers to ensure seamless fund operation and compliance.
Participate in the onboarding of new funds, assisting with a-s3-upload
the setup of accounting records, banking relationships, and administrative workflows.
Generate and analyze performance metrics for the funds, including IRR, MOIC, and other key performance indicators.

Secondary Functions

Support ad-hoc data requests and exploratory data analysis from portfolio managers and senior management.
Contribute to the organization's operational efficiency by identifying and suggesting process improvements.
Collaborate with technology and business units to translate data needs into engineering and system enhancement requirements.
Participate in sprint planning, agile ceremonies, and other project management activities within the operations team.

Required Skills & Competencies

Hard Skills (Technical)

Fund Accounting: Deep understanding of investment fund accounting principles, including portfolio and partnership accounting.
NAV Calculation: Proven expertise in calculating and verifying Net Asset Values for various fund structures.
Financial Reporting: Proficiency in preparing financial statements under US GAAP and/or IFRS.
Excel Proficiency: Advanced skills in Microsoft Excel, including complex formulas, pivot tables, vlookups, and macros.
Fund Software: Hands-on experience with industry-standard fund administration platforms such as Investran, Advent Geneva, eFront, or Allvue.
Financial Instruments: Strong knowledge of various financial products, including equities, fixed income, derivatives, and private investments.
Regulatory Knowledge: Familiarity with fund-related regulatory frameworks like FATCA, CRS, AIFMD, and the Investment Company Act of 1940.
Fee Calculation: Ability to interpret legal documents to accurately calculate complex management and performance fees.

Soft Skills

Attention to Detail: Exceptional accuracy and a commitment to producing error-free, high-quality work.
Analytical & Problem-Solving: Strong ability to identify discrepancies, investigate root causes, and develop effective solutions.
Time Management: Excellent organizational skills with a proven ability to manage multiple priorities and meet tight deadlines.
Communication Skills: Clear, concise, and professional communication skills, both written and verbal, for interacting with investors and internal teams.
Proactivity & Initiative: A self-starting mentality with the ability to work independently and anticipate operational needs.
Team Collaboration: A collaborative spirit and the ability to work effectively as part of a high-performing team.
Client Service Mindset: A dedicated approach to providing outstanding service and support to investors and stakeholders.

Education & Experience

Educational Background

Minimum Education:

Bachelor’s Degree

Preferred Education:

Master’s Degree in a relevant field or a professional designation such as CPA (Certified Public Accountant) or CFA (Chartered Financial Analyst).

Relevant Fields of Study:

Accounting
Finance
Economics
Business Administration

Experience Requirements

Typical Experience Range:

2-5 years of direct experience in fund administration, fund accounting, portfolio accounting, or a related role within the financial services industry (asset management, public accounting, or fund administrator).

Preferred:

Experience with closed-end fund structures, particularly private equity, real estate, or venture capital funds, is highly desirable. Prior experience in the financial services practice of a 'Big 4' or other major accounting firm is considered a strong plus.