Associate - Fund Accounting

Overview

Associate role in private equity fund accounting, preparing and reviewing financial statements, carry, waterfall and related calculations for client private equity funds.

What you'll do

• Prepare and review quarterly management accounts for client private equity funds.
• Lead general client reporting requirements, understanding the structure of existing reports, client service level standards and key performance indicators (KPIs).
• Compute carry, equalization and late closing interest for funds administered.
• Prepare and review waterfall calculations.
• Maintain and process accounting records through journals and other transactions to the general ledger and trial balance.
• Manage and coordinate annual fund audits with external auditors and the client.
• Review draft annual financial statements in accordance with IFRS, UK GAAP, US GAAP, Canadian GAAP and Lux GAAP depending on fund domicile.
• Liaise with the tax team to ensure timely completion of tax engagements and appropriate charges and accruals are recorded in the financial statements.
• Complete and review regulatory returns as and when required.
• Develop a clear understanding of the cash management function of the funds.
• Work with and provide support to the treasury team as and when required, including but not limited to reviewing bank reconciliations, cash management reports, daily liquidity monitoring, and invoice and payment releases.
• Be involved in team management and allocation planning.
• Be involved in training, development and potential management of junior team members.
• Be involved in RFPs for new prospects and successful onboarding of new clients.
• Identify and implement process improvements to enhance operational efficiency, strengthen controls, and improve the quality and consistency of fund accounting and reporting activities.
• Drive the development and adoption of AI and automation solutions to streamline fund accounting, strengthen analysis and reconciliations, improve exception detection and reporting, and enhance review effectiveness with appropriate governance and oversight.

What you'll need

• Detailed technical understanding of private equity funds, including the intricacies of preparing financial statements, computing carry, private equity equalization and late closing interest.
• Detailed knowledge, through direct working experience, of waterfalls, IRR and other performance metrics (e.g. MoiC, DPI, TERs).
• Extensive experience preparing periodic and annual audited GAAP based financial statements specifically for private equity funds.
• UK or US GAAP working knowledge.
• Knowledge of private equity carry, waterfall, LCI and equalisation specific to private equity funds.
• Excellent working knowledge of accounting databases and running reports.
• Competent user of MS Excel and other MS products.
• Experience using AI and automation tools, including identifying use-case scenarios, prompt writing, output validation, and responsible data governance.

Nice to have

• 4+ years of strong related experience in private equity fund accounting.
• An understanding of fund/group structures.
• IFRS, Canadian GAAP or Lux GAAP knowledge.
• Experience with FIA (front invest analytics).

Details

• Location: Bengaluru, India.
• Work mode: hybrid, at least 4 days in the office per week with the flexibility to work from home 1 day a week; some business groups may require more time in the office.