Fund Accounting Manager (Credit Funds)

Alter Domus - Des Plaines, IL

Full-time - Mid Level

Des Plaines, IL

1,001-5,000 employees

Administrative and Support Services

About the position

Alter Domus is seeking a Fund Manager to join our Credit Funds team, located in Chicago, IL, Indianapolis, IN, or Boston, MA. In this role, you will provide mentorship and leadership to team members, ensuring their training and career development. You will serve as the lead contact for clients and their investors, auditors, and other parties, managing the production of financial statements and supporting schedules. This includes overseeing journal entries, trial balances, and capital activities. You will review investor allocations, ad-hoc communications with investors, workpapers, and unaudited financial statements, as well as partners' capital statements and all reports for both limited and general partners. Your responsibilities will also include performing reviews of IRR's and returns, discussing results, and analyzing management fees, incentive fees, and waterfall calculations. You will ensure fund/account compliance with client agreements, manage client expectations, and communicate deliverables clearly and timely. Additionally, you will assist with the onboarding process for new clients and funds, review and spearhead ongoing Credit Fund automation projects, and communicate with senior team members regarding the status of reports and projects. Monitoring and creating fund/account efficiencies and implementing improvements will also be part of your role, along with assisting in the development of policies and procedures.

Responsibilities

• Provide mentorship and leadership to team members, ensuring their training and career development.
• Serve as lead contact for clients and their investors, auditors, and other parties.
• Manage and oversee the production of financial statements and supporting schedules, including journal entries, trial balances, and capital activities.
• Review investor allocations, ad-hoc communications with investors, workpapers, and unaudited financial statements, partners' capital statements, and all reports for both limited and general partners.
• Perform review of IRR's and returns and discuss results.
• Analyze management fees, incentive fees, and waterfall calculations.
• Ensure fund/account compliance with client agreements.
• Manage client expectations and communicate deliverables clearly and timely.
• Assist with open items list/auditor communications, 1099 form preparation, and onboarding process for both new clients and new funds.
• Review and assist in spearheading ongoing Credit Fund automation project.
• Communicate with senior team members on the status of reports and projects.
• Monitor and create fund/account efficiencies and ensure implementation of improvements.
• Work with senior team members on special requests from clients.
• Assist with the development of policies and procedures.

Requirements

• 7+ years of professional experience in a relevant field.
• Bachelor's degree in Accounting, Finance, or similar.
• Expertise in Credit Fund Accounting and Bank Loan Markets operations.
• In-depth understanding of private credit and structured product investments.
• Experience preparing journal entries and other fund accounting processes (e.g., cash, investments, intercompany, credit facility, accruals, valuations, management fees, invoices, partner allocation, and carried interest).
• Deep knowledge of Fund Accounting technology platforms.
• Advanced Microsoft Excel skills, including advanced formulas and pivot tables.
• Understanding of multiple vehicle structures including parallel, co-investor, blocker, feeder, and holding company structures.
• Ability to quickly learn and understand Alter Domus' accounting systems and corresponding reporting.
• Skilled at proactively identifying issues and recommending long-term solutions.
• Capacity to multitask, working on multiple client and/or fund deadlines.
• Effective communicator with clients.
• Capable of working both independently and on a team.
• Excellent attention to detail and analytical skills.

Nice-to-haves

• Experience managing a team is a plus.

Benefits

• Support for professional accreditations such as ACCA and study leave.
• Flexible arrangements and generous holidays, including birthday leave.
• Continuous mentoring along your career progression.
• Active sports, events, and social committees across our offices.
• Support with mental, physical, emotional, and financial needs 24/7 from our Employee Assistance Program.
• The opportunity to invest in our growth and success through our Employee Share Plan.
• Additional local benefits depending on your location.