Lead Representative NS, Fund/Client Accounting

BNY Mellon
New York, USA
May 19, 2022
May 25, 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time

Who We Are

Alternative Investment Services is a distinct business line within the larger Investment Services group at BNY Mellon. BNY Mellon Alternative Investment Services helps clients gain the competitive advantage they need in today's fast-paced markets. Using a global approach to alternative assets administration and custody, we help portfolio managers mitigate risk, capitalize on opportunities, and master changing regulatory environments-at every phase of the investment life cycle.

With over $1.6 trillion in alternative assets under administration and/or custody worldwide, we understand the challenges of managing alternative assets, including real estate, funds of hedge funds, single manager hedge funds and private equity funds. Our client support and innovative technology allow for more efficient fund administration, as well as greater transparency. We continue to invest and develop capabilities in scalable asset servicing in the alternative-funds sector alongside the significant spend in our digital and data offerings. This makes us ready and able to adapt to and support client needs as allocations to alternative investment funds continue to grow. We are proud of our reputation and position as one of the world's largest providers of alternative fund administration.

Our global team of over 2,500 professionals is focused on alternative-fund servicing. We have principal Alternative service centers in New York, Luxembourg and Ireland. In addition, we have offices in Germany, Poland, Singapore, Hong Kong, India and the United Kingdom, as well as U.S. offices in California, Delaware, Florida, Illinois, New Jersey and Massachusetts. All of these strategic locations facilitate a strong global service model with consistency in technology, expertise and controls.

What We Do

Private Equity/Private Credit Fund Accounting Group Overview

Private Equity/Private Credit Fund Accounting Group is a specialized team within the Alternative Investment Services Division of Bank of New York Mellon focused on providing fund administration services to our Private Equity clients. We operate from Hong Kong, India, Poland, Ireland and the United States. The US team currently is comprised of 101 members (and growing) and supports numerous domestic and international money managers.

In the US, the team operates from New York, NY; Woodland Park, NJ; Los Angeles, CA; Wilmington, DE and Lake Mary, FL. Our team is primarily responsible for:
  • Preparing capital call and distribution calculations in order, to facilitate capital funding requests from clients.
  • Preparing and reviewing fund operating expense accrual budgets, as well facilitate wire instructions for vendor expense payments.
  • Processing portfolio trade activity related to fund investments.
  • Preparing and reviewing a fund's cash and asset reconciliation.
  • Executing PNL allocations to Investors.
  • Preparing and reviewing management and performance fee calculations.
  • Coordinating the preparation of and reviewing investor notices and capital statements.
  • Facilitating audit engagements on behalf of clients
  • Coordinating the preparation of unaudited or audited financial statements.
  • Facilitating onboarding of new clients and servicing existing clients.

Lead Representative Fund/Client Private Equity Accounting - Role Overview

As a Lead Representative within the US Private Equity/Private Credit fund accounting team, you will own and drive the preparation of the net asset valuation process for 2-3 funds depending on complexity and or size of the funds. You will partner with senior colleagues, internal business partners and clients and be actively involved in servicing of these funds. You will also be actively involved in the execution of strategic projects as well as developing and or streamlining existing processes in order to create efficiencies.

Job Responsibilities
  • Serves as a lead for the day-to-day operations of 2-3 funds, providing support and assistance to team leads.
  • Leads day-to-day accounting and net asset value (NAV) production functions (including NAV construction & validation, NAV review, dissemination and reporting activities) for funds.
  • Reviews data and assists in resolving escalated problems that may arise during the normal daily, weekly or monthly accounting and reporting.
  • Tracks data and maintains accounting records for funds in accordance with department policies and procedures.
  • Establishes data maintenance and summarization processes to improve team efficiency and best support the accounting team leads.
  • Responsible for the preparation and dessemination of reports with clients and ancillary internal and external teams.
  • Reviews work of junior team members.
  • Assists with maintaining relationships with client staff.
  • Regularly works with client staff to exchange information with respect to cash, accounting, and reporting of daily and monthly client activities and initiatives.
  • Communicates data needs and answers client questions.
  • Assists in identifying and implementing process improvements to reduce audit and financial exposure and improve team efficiency.
  • Primarily responsible for the accuracy and quality of own work.
  • No direct reports.

  • Bachelor's degree (in Accounting or Finance ) OR the equivalent combination of education and experience
  • 3 to 5 years total experience in Financial Services field required, preferably with Private Equity or Hedge Fund servicing experience.
  • Proficiency in using Microsoft packages particularly Excel is preferred.
  • Systems proficiency in Advent Geneva and or FIS Investran is a plus.
  • Ability to effectively prioritize and execute tasks in a high-pressure environment is preferred.

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