Team Lead - Hedge Fund & Private Equity Fund Accounting

Experience: 5 - 10 Years

About the Role:

We are looking for a Team Lead - Fund Accounting to oversee accounting operations and financial reporting for hedge fund and private equity clients.

The role requires expertise in fund-level accounting, net asset value (NAV) oversight, investor allocations, fee calculations, and private equity capital transactions.

The successful candidate will be responsible for reviewing complex accounting outputs, supervising a team of fund accountants, and maintaining the accuracy of client financial records.

The position also involves managing client relationships, supporting financial audits and regulatory submissions, and strengthening operational controls across fund accounting activities.

Key Responsibilities:

1. Fund Accounting & NAV Oversight:

- Supervise the preparation and review of shadow accounting records for hedge funds and private equity vehicles, ensuring alignment with underlying fund activity.

- Examine fund NAV calculations, ledger balances, portfolio movements, and supporting schedules to identify discrepancies and ensure accounting accuracy.

- Reconcile client accounting ledgers against records maintained by external fund administrators and internal accounting systems, investigating variances through resolution.

- Review the recognition of investment income, trading activity, non-trading accruals, operating expenses, and other fund-level transactions.

- Validate management fees, performance-based compensation, hurdle rates, and high-water mark calculations in accordance with applicable fund agreements.

- Review investor-level profit and loss allocations under equalization, series accounting, and other applicable allocation methodologies.

- Ensure appropriate recording and classification of financial transactions, accruals, and adjustments within client accounting books.

2. Private Equity Operations & Investor Accounting:

- Oversee accounting for capital commitments, capital calls, investor contributions, distributions, and other private equity fund movements.

- Maintain partner capital accounts and review investor balances to ensure accurate allocation of fund activity.

- Examine distribution waterfall calculations, including the allocation of proceeds, carried interest, and realized or unrealized investment gains in accordance with fund terms.

- Review portfolio company valuation workpapers and supporting documentation used in fund-level financial reporting.

- Prepare and validate NAV bridge schedules explaining changes in fund valuation between reporting periods.

- Monitor commitment utilization, unfunded capital obligations, and investor transaction records to maintain complete and reliable accounting information.

- Support the preparation of deal-level performance analyses and investment summaries for general partners and investors.

3. Financial Reporting & Audit Coordination:

- Coordinate the preparation and review of quarterly and annual financial statements under applicable US GAAP, IFRS, and relevant ILPA reporting guidelines.

- Review financial schedules, accounting disclosures, and supporting workpapers for completeness and consistency before client delivery.

- Respond to audit requests by preparing reconciliations, transaction evidence, valuation support, and other requested accounting documentation.

- Coordinate with internal audit-support, tax, operations, and reconciliation teams to resolve reporting issues and meet financial close deadlines.

- Assist in producing quarterly investor reporting packages, general partner communications, and portfolio performance summaries.

- Prepare customized financial analyses, investor-level reports, and management information dashboards according to client requirements.

- Support regulatory reporting activities, including Form PF, AIFMD, and applicable CBI reporting obligations, as relevant to the assigned funds and entities.

4. Client Relationship & Service Delivery:

- Serve as the primary operational contact for assigned clients, addressing accounting queries and coordinating the delivery of financial information.

- Participate in client meetings to explain accounting movements, clarify reconciliation differences, and discuss outstanding deliverables.

- Manage competing client requirements by coordinating resources, monitoring deadlines, and escalating issues that may affect reporting commitments.

- Investigate recurring client concerns and implement appropriate corrective actions to prevent similar issues in subsequent reporting cycles.

- Maintain professional working relationships with fund administrators, custodians, auditors, and other external service providers.

- Ensure client deliverables meet agreed service-level commitments and internal quality requirements.

5. Team Management & Operational Excellence:

- Allocate assignments across the fund accounting team, monitor individual workloads, and review completed work before final submission.

- Establish review checkpoints and internal control procedures to reduce accounting errors and improve consistency across deliverables.

- Train new team members on fund accounting workflows, accounting policies, reconciliation procedures, and client-specific requirements.

- Provide technical guidance on complex fee computations, investor allocations, private equity waterfalls, and NAV-related issues.

- Participate in user acceptance testing (UAT) for accounting systems, reporting enhancements, and process automation initiatives.

- Identify manual activities, control weaknesses, and recurring operational bottlenecks, recommending practical improvements to increase efficiency.

- Maintain process documentation, standard operating procedures, and control records to support consistent execution and knowledge transfer.

Required Qualifications:

- 5 - 10 years of relevant experience in fund accounting, alternative investment operations, or financial reporting for investment funds.

- Demonstrated experience supervising or reviewing the work of fund accountants.

- Strong knowledge of hedge fund and private equity fund accounting principles and reporting processes.

- Practical expertise in NAV review, shadow accounting, general ledger reconciliation, and transaction-level accounting.

- Experience calculating management fees, incentive fees, hurdle rates, high-water marks, and investor profit and loss allocations.

- Understanding of private equity capital calls, distributions, commitment tracking, partner capital accounts, and waterfall calculations.

- Familiarity with US GAAP, IFRS, and applicable ILPA reporting practices.

- Experience preparing financial statements, supporting external audits, and responding to client accounting queries.

- Knowledge of regulatory reporting requirements such as Form PF, AIFMD, or relevant CBI reporting, where applicable.

- Strong Excel and financial analysis capabilities, with the ability to investigate complex accounting variances.

- Excellent client communication, team coordination, and deadline management skills.

- High attention to detail and a strong commitment to accounting accuracy, confidentiality, and operational controls.

Preferred Skills:

- Experience supporting alternative investment funds across multiple reporting periods and fund structures.

- Familiarity with fund accounting platforms, reconciliation tools, and investor reporting systems.

- Exposure to portfolio valuation support, NAV movement analysis, and fund performance reporting.

- Experience participating in accounting system enhancements, UAT, workflow automation, or operational transformation initiatives