Full-Time

Fund Accounting Manager

Private Equity

Posted on 9/4/2024

StepStone Group

StepStone Group

501-1,000 employees

Global private markets investment firm

Venture Capital
Financial Services
Real Estate

Compensation Overview

$105k - $130kAnnually

Senior

Charlotte, NC, USA + 1 more

More locations: La Jolla, San Diego, CA, USA

Hybrid position requiring in-office presence.

Category
Cost Accounting
Financial Accounting
Management Accounting
Accounting
Required Skills
Excel/Numbers/Sheets
Requirements
  • Experience with accounting for private equity partnership, fund of funds and/or Real Estate fund accounting
  • CPA and/or MBA Preferred
  • A Bachelor’s Degree in Accounting with 5-7 years' professional accounting experience
  • Ability to multi-task and manage priorities against fast-paced key deadlines
  • Ideal candidates will have experience with SEC registered investment advisors
  • Must be able to work independently but contribute in a team-oriented environment
  • Previous experience with Investment Company Accounting and ASC 820 (FAS 157) and FIN 48
  • Strong Microsoft Excel experience
  • Experience training and managing junior professionals and reviewing the work of others
Responsibilities
  • Manage and oversee a portfolio of funds, which includes but is not limited to:
  • Review work prepared by the fund administrator
  • Reviewing accounting entries from the Fund Administrator’s accounting and reporting systems
  • Reviewing and reconciling cash and investment accounts with General Partner reports
  • Reviewing of investment partnership reports
  • Reviewing and reconciliation of capital account activity
  • Review quarterly unaudited and annual audited financial statements in accordance with GAAP
  • Coordinate preparation of annual audits with outside CPA firm
  • Review partner allocations and capital account statements
  • Manage process for delivering quarterly and annual investor reports and other ad-hoc communications
  • Review performance reports prepared by the SPAR team
  • Calculate and distribute investor capital call and distribution notices
  • Understand partnership agreements and interpret reporting requirements and partner economics
  • Calculate management fees, distribution waterfalls and carried interest
  • Corresponding with General Partners regarding accounting/reporting questions, or other issues, as necessary
  • Corresponding with underlying investors regarding questions, requests, etc.
  • Respond to investor requests in a timely manner
  • Perform other duties as requested or as responsibilities dictate
  • Perform Treasury management functions, including
  • Review and/or approve wire templates and wires
  • Monitor the Fund’s cash positions and prepare cash projections as needed
  • Manage the Fund’s line of credit facilities, including arranging borrowings and repayment, quarterly compliance certificates, review of interest and unused fee calculations
  • Perform other duties as required, including but not limited to:
  • Review of K-1s and support for tax reporting and analysis of tax matters
  • Support for the Compliance team, including preparation of materials for ADV, Form PF, SLT, etc.
  • Support for other departments across StepStone

StepStone Group manages a large amount of private capital, totaling over $91 billion, with around $24 billion in assets under management. The firm specializes in private markets, focusing on various investment strategies including private equity, infrastructure, real assets, real estate, and private debt. StepStone creates tailored investment portfolios for sophisticated investors by using a disciplined research approach that combines primary investments, secondary market purchases, and co-investments. This comprehensive strategy sets StepStone apart from competitors, as it emphasizes customization and thorough research to meet the specific needs of its clients. The goal of StepStone is to provide effective investment solutions that maximize returns for its clients.

Company Stage

IPO

Total Funding

$8.1B

Headquarters

New York City, New York

Founded

2007

Simplify Jobs

Simplify's Take

What believers are saying

  • Growing interest in AI solutions can enhance StepStone's investment strategies.
  • AI-driven risk management trends offer new opportunities for StepStone's portfolio.
  • Expansion in cybersecurity intelligence can improve StepStone's security measures.

What critics are saying

  • AI-powered investment platforms may challenge StepStone's traditional strategies.
  • StepStone's cybersecurity involvement may increase exposure to cyber threats.
  • Shift towards AI-native platforms requires StepStone to adapt investment strategies.

What makes StepStone Group unique

  • StepStone Group offers customized exposure to private real estate investments.
  • The firm manages over US$91 billion in private capital allocations globally.
  • StepStone integrates primaries, secondaries, and co-investments in its portfolio strategies.

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Benefits

Health Insurance

401(k) Retirement Plan

Mental Health Support

Paid Vacation

Wellness Program

INACTIVE