Fund Accounting AVP (Credit Drawdowns)

$125,000 - $185,000/Yr

Blackstone - New York, NY

Full-time - Mid Level

New York, NY

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Fund Accounting AVP (Credit Drawdowns) position at Blackstone involves overseeing the Net Asset Value (NAV) finalization process for both open-ended and closed-ended private funds that are engaged in credit strategies. This role is critical in ensuring accurate P&L reconciliation and allocation to investors, as well as investigating and resolving discrepancies that may arise with third-party fund administrators and internal teams. The successful candidate will be responsible for reviewing and reconciling the calculation and payment of management and performance fees in accordance with the governing documents of the funds. Additionally, the role requires the approval of client capital account statements generated by third-party administrators and the review of annual audited financial statements, coordinating with external auditors during the year-end audit process. In this position, the AVP will prepare or review performance reporting, Blackstone reporting deliverables, and other ad hoc requests from clients or management. Regulatory reporting, investor letters, and custom client reporting will also fall under the purview of this role. The AVP will liaise with various internal teams, including Operations, Investor Relations, Management Reporting, Tax, and Legal and Compliance, to ensure seamless communication and collaboration. Furthermore, the role involves overseeing offshore resources to guarantee the accurate and timely preparation of necessary files, approving expense allocations, operating expense budgets, and vendor expense payments, and reviewing fund legal documents to streamline or build processes and templates. The position requires a strong work ethic, personal and professional integrity, and a genuine passion for excellence. The ability to partner across teams, summarize issues, and develop recommendations or make decisions is essential. Excellent interpersonal and communication skills, both written and verbal, are necessary, along with a keen attention to detail and strong analytical skills. The candidate must be highly organized, possess strong time management and multi-tasking abilities, and have advanced Excel skills. This role is dynamic and may require handling multiple projects simultaneously, making adaptability and efficiency key traits for success.

Responsibilities

• Oversee the NAV finalization process for private funds trading a credit strategy.
• Investigate and resolve discrepancies with third party fund administrators and internal teams.
• Review and reconcile the calculation and payment of management and performance fees.
• Review capital activities, allocations, and notifications.
• Approve client capital account statements generated by third party administrators.
• Review annual audited financial statements and coordinate with external auditors for the year-end audit process.
• Prepare or review performance reporting and Blackstone reporting deliverables.
• Prepare and/or review regulatory reporting, investor letters, and custom client reporting.
• Liaise with various internal teams including Operations, Investor Relations, Management Reporting, Tax, and Legal and Compliance.
• Collaborate with and oversee offshore resources for accurate and timely preparation of files.
• Approve expense allocations, operating expense budgets, and vendor expense payments.
• Review fund legal documents and streamline or build processes and templates.

Requirements

• 6+ years of public accounting, fund, or administrator experience.
• BS (or above) in Accounting or Finance.
• CPA or CFA preferred.
• Experience with credit products (loans, CLOs, bonds, revolvers, delayed draws) is preferred.
• Strong work ethic and personal and professional integrity.
• Excellent interpersonal and communication skills, both written and verbal.
• Excellent attention to detail and analytical skills.
• Ability to work in a dynamic environment and handle multiple projects.
• Highly organized with strong time management and multi-tasking skills.
• Advanced Excel skills required.

Nice-to-haves

• Experience with credit products is preferred.
• Possesses a positive attitude and genuine passion for excellence.

Benefits

• Competitive salary range of $125,000 - $185,000 based on experience and qualifications.
• Equal employment opportunities without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, or status as a victim of domestic violence.
• Reasonable accommodations for applicants with disabilities.