Torchora
Back to Home

Key Responsibilities and Required Skills for Fund Officer

💰 $75,000 - $110,000

FinanceAsset ManagementInvestmentFund AdministrationAccounting

🎯 Role Definition

As a Fund Officer, you will be the backbone of our fund operations, overseeing a diverse portfolio of investment structures, including private equity, real estate, and hedge funds. You are a crucial link between portfolio managers, investors, and regulatory bodies. This role requires a meticulous professional with a strong foundation in fund accounting and administration, capable of managing complex processes from NAV calculation to investor reporting. You will ensure the integrity of our financial data, maintain regulatory compliance, and contribute to the overall efficiency and success of our fund management activities.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Fund Accountant / Junior Fund Administrator
  • Big 4 / Public Accounting Auditor (with a focus on financial services/asset management clients)
  • Corporate Actions or Custody Specialist

Advancement To:

  • Senior Fund Officer / Senior Fund Accountant
  • Fund Administration Team Leader or Manager
  • Assistant Vice President (AVP), Fund Services

Lateral Moves:

  • Investor Relations Specialist
  • Compliance Officer (Asset Management)
  • Financial Controller (within an investment firm)

Core Responsibilities

Primary Functions

  • Execute the end-to-end Net Asset Value (NAV) calculation process on a daily, weekly, or monthly basis, ensuring accuracy and adherence to established valuation policies.
  • Prepare and review comprehensive financial statements for a portfolio of funds in accordance with relevant accounting standards (e.g., IFRS, US GAAP).
  • Manage the complete capital activity cycle, including the processing of capital calls, distributions, and transfers, ensuring all transactions are accurately recorded.
  • Act as a primary point of contact for investor inquiries, providing timely and accurate information regarding fund performance, capital transactions, and reporting deliverables.
  • Prepare and distribute periodic investor reports, statements, and customized reporting packages, ensuring a high level of quality and client satisfaction.
  • Liaise directly with external auditors to facilitate the annual audit process, including preparing audit schedules and responding to audit queries in a timely manner.
  • Oversee and perform daily cash management, including monitoring cash balances, processing payments, and reconciling bank accounts and positions with custodians.
  • Calculate and review complex management fees, performance fees, and carried interest in line with the fund's legal documentation (LPA).
  • Ensure strict compliance with regulatory requirements, including FATCA, CRS, and AIFMD, by assisting with the preparation and filing of necessary reports.
  • Conduct and review Anti-Money Laundering (AML) and Know Your Customer (KYC) checks for new and existing investors, maintaining all related documentation.
  • Participate in the onboarding and setup of new funds, including reviewing legal documents, establishing accounting records, and opening bank and custody accounts.
  • Monitor and process corporate actions, ensuring they are accurately reflected in the fund's accounting records and portfolio valuation.
  • Reconcile portfolio holdings, trades, and cash positions between internal records and reports from prime brokers and custodians.
  • Assist in the preparation of regulatory filings with authorities such as the SEC, CSSF, or other relevant jurisdictions.
  • Review and interpret fund legal documents like the Limited Partnership Agreement (LPA) and Private Placement Memorandum (PPM) to ensure all administrative actions are compliant.
  • Handle the accounting for complex financial instruments, derivatives, and private equity or real estate investments.
  • Prepare and review tax-related calculations and workpapers for the funds in collaboration with external tax advisors.
  • Identify opportunities for process improvement and system enhancements to increase operational efficiency and mitigate risk.
  • Maintain strong working relationships with internal teams (Portfolio Management, Legal, Compliance) and external service providers (auditors, tax advisors, custodians).
  • Contribute to special projects, such as system migrations, new product launches, or regulatory change implementation.

Secondary Functions

  • Support senior management by preparing ad-hoc reports, financial models, and analysis related to fund performance and operations.
  • Participate in the testing and implementation of new fund accounting or administration software and system upgrades.
  • Assist in training and mentoring junior team members on fund administration principles and internal procedures.
  • Contribute to the ongoing maintenance and improvement of internal control frameworks and procedural documentation.

Required Skills & Competencies

Hard Skills (Technical)

  • Fund Accounting: Deep understanding of fund accounting principles, including NAV calculation, fee structures, and financial statement preparation under IFRS and/or US GAAP.
  • Regulatory Knowledge: Strong working knowledge of the regulatory landscape, including AIFMD, UCITS, FATCA, and CRS.
  • Fund Structures: Expertise in the administration of various fund types, such as Private Equity, Real Estate, Debt, or Hedge Funds.
  • Financial Software Proficiency: Hands-on experience with industry-standard fund accounting platforms (e.g., eFront, Investran, Advent Geneva, FIS).
  • Advanced Excel: High proficiency in Microsoft Excel, including complex formulas, pivot tables, and data modeling for analysis and reporting.
  • Financial Instrument Knowledge: Familiarity with the accounting and valuation of a wide range of financial instruments, including equities, fixed income, derivatives, and private assets.

Soft Skills

  • Attention to Detail: Exceptional accuracy and a meticulous approach to data entry, reconciliation, and report generation.
  • Analytical & Problem-Solving: Strong ability to analyze complex issues, identify discrepancies, and implement effective solutions.
  • Communication Skills: Excellent written and verbal communication skills for clear and professional interaction with investors, auditors, and internal teams.
  • Time Management & Organization: Proven ability to manage multiple deadlines, prioritize tasks effectively, and perform under pressure in a fast-paced environment.
  • Teamwork & Collaboration: A collaborative mindset with the ability to work effectively as part of a team and build strong professional relationships.
  • Proactive & Self-Motivated: A "can-do" attitude with the initiative to take ownership of tasks and drive processes forward independently.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree from an accredited university.

Preferred Education:

  • Master's degree in a relevant field or a professional accounting qualification (e.g., ACCA, CPA, CIMA).
  • Progress towards or completion of the Chartered Financial Analyst (CFA) designation is highly regarded.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Economics
  • Business Administration

Experience Requirements

Typical Experience Range:

  • 3-7 years of direct experience in fund administration, fund accounting, or a related role within the asset management industry or a third-party administrator. Experience in auditing investment funds at a Big 4 or reputable accounting firm is also highly relevant.

Preferred:

  • Experience specifically with Private Equity or Real Estate fund structures.
  • Direct experience liaising with external auditors and managing client/investor relationships.
Explore More Careers