Manager – Fund Administration & Accounting - Fund Administration & Accounting

About the Role

Within the Global Investment Operations business unit at T. Rowe Price, our Private Company Fund Administration & Accounting (FA&A) department includes professionals with specific valuation, finance, and accounting expertise to operationally enable various T. Rowe Price investment vehicles to participate in investments of non-public illiquid investments on behalf of our clients.   

Role Summary

Independently supports an assigned fund accounting, reporting and/or related oversight process(es), and/or assigned product(s), of medium complexity; may also support other product services. Responsible for completing multiple activities from start to close for assigned area and other more advanced ad hoc assignments, as needed. Will support oversight of third party fund administrators and review of fund accounting deliverables, including NAV packages, capital calls, distributions, expense allocations, management fee calculations, and investor reporting.  May review work of less experienced professional staff. Responsible for researching, applying and maintaining a working understanding of accounting and reporting guidance, company policies, regulatory and contractual requirements, and drivers that impact their assigned areas. Instructs service providers and provides technical advice on and interpretation of T. Rowe Price accounting and reporting policy. Leverages internal network with internal and external relationships to ensure integrated and high-quality responses to advanced stakeholder needs.

Responsibilities:

• In accordance with functional guidelines, performs a broad array of activities to support assigned complex accounting, reporting and/or related oversight activities; for assigned type(s) of products. Evaluates accuracy, completeness, and conformity to T. Rowe Price policies of data and deliverables from third-party service providers. Addresses complex issues and discrepancies with service providers, escalates more complex issues to senior team members and assists in resolution; may review the work of less experienced colleagues.
• Reviews quarterly, monthly NAVs and other deliverables prepared by third party fund administrators.
• Reviews capital calls, distributions, expense allocations, management fee calculations, waterfall calculations and investor reporting packages
• Works closely with third party administrator and internal stakeholders to support fund accounting, capital activity, investor reporting, and ongoing fund operations.
• Supports operational activities of private equity funds and co-investment vehicles throughout the fund lifecycle including fund launches, capital calls, distributions , investor reporting, , audits and service provider coordination.  
• Provides other product support to governance committees, such as valuation, liquidity, disclosure, and service agreements; researches and recommends enhancements to support model and related reporting and processes; reviews and summarizes relevant matters and metrics for senior team members and management, actively participates in cross-departmental working groups on projects and/or to address ad hoc issues; reviews and provides input to policy documents and maintains internal educational materials. Supports complex functional compliance requirements.
• Researches and formulates proposed technical positions or tactics for applying accounting and reporting guidance, and contributes to design of related oversight controls, applying broad knowledge of internal controls, T. Rowe Price policies and products, relevant guidance and service standards; and drivers for assigned areas. Collaborates with peers to present proposed solutions for management consideration; assists in the training of internal teams and service providers on new policies as implemented. Identifies improvements to processes and controls, recommends solutions and presents to senior team members for consideration.
• Recognized as an internal resource for advice and guidance on technical accounting, reporting and/or related oversight matters and the application of relevant guidance. Leverages deep relationships with internal stakeholders and service providers to address and resolve advanced questions from internal and external stakeholders and/or provide advice on more complex issues.
• Often supports broad functional projects across products, lines of business, and geographies on behalf of management with ad-hoc analyses and advice and may provide some insights to strategic initiatives as requested.

Qualifications:

Required:

• Bachelor's degree in Accounting, Finance, or Business Administration or related field AND
• 5+ years of total relevant work experience AND

Preferred:

• Experience at an alternative fund administrator or CPA firm working on private equity funds strongly preferred
• Experience preparing or reviewing fund accounting deliverables including NAV packages, capital calls and distributions and ad hoc investor reporting strongly preferred

FINRA Requirements 

FINRA licenses are not required and will not be supported for this role. 

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home. 

Applicants for employment in the US must have work authorization that does not now or in the future require sponsorship of a visa for employment authorization in the United States (e.g., H1-B visa, F-1 visa (OPT), TN visa or any other non-immigrant work status)

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$87,000.00 - $148,000.00 for the location of: Maryland, Colorado, Washington and remote workers
$95,500.00 - $163,000.00 for the location of: Washington, D.C.
$108,000.00 - $185,000.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the role.  Base salary is only one component of our total compensation package.  Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.

Benefits

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.