Firm Overview:
Cambridge Associates (“CA”) is a leading global investment firm. CA’s goal is to help endowments & foundations, pension plans, and ultra-high net worth private clients implement and manage custom investment portfolios that generate outperformance so that they can maximize their impact on the world. Cambridge Associates delivers a range of services, including outsourced CIO, non-discretionary portfolio management, and investment consulting.
Headquartered in Boston, Massachusetts, CA has offices in key markets in North America, the United Kingdom, Europe, Asia, and Oceania. Our worldwide teams ensure our clients benefit from decades of global presence, local expertise, and relationships with the top global investment managers across the world. For more information, please visit www.cambridgeassociates.com.
Position Summary:
We are seeking a diligent Fund Accounting Associate to join our team. This role involves overseeing the accounting and administration of Single Investor Funds (SIFs), Single Manager Funds (SMFs), and other commingled fund vehicles, which include hedge funds, private equity, mutual funds, and derivatives. The successful candidate will collaborate with internal teams and external service providers, such as fund administrators, custodians, and auditors, to ensure accurate and efficient fund operations.
The ideal candidate will demonstrate a high level of adaptability and an eagerness for continuous learning, as the landscape of fund administration and accounting is constantly evolving. We seek individuals who are not only skilled in their field but more importantly exhibit a growth mindset and the ability to adapt to the ever-changing demands of the financial services industry.
Key Responsibilities:
·Review and reconcile Net Asset Value (NAV), portfolio positions, Private Investment Capital Call and Distribution activity, fund expense accruals, and cash balances.
·Identify and rectify discrepancies in NAV accounting reports provided by Third-Party Fund Administrators.
·Actively liaise between fund administrators and clients, ensuring clear communication and prompt resolution of issues.
·Monitor the performance of fund administrators and other vendors, ensuring adherence to service level agreements.
·Manage cash projections for fund vehicles, including capital calls from and distributions to investors.
·Participate in process improvement initiatives to enhance efficiency within the Fund Solutions department.
·Review legal documents such as Limited Partnership Agreements (LPAs) and Private Placement Memorandums (PPMs) to ensure compliance and accurate fund representation.
·Support the year-end audit and tax process, including gathering necessary documentation and assisting in the preparation of financial statements.
·Exhibit strong verbal and written communication skills to effectively collaborate with legal, compliance, audit, tax, operations, and client service teams.
·Foster a culture of continuous improvement, proactively seeking opportunities to enhance processes, procedures, and overall department performance.
·Review annual client financial statements prepared by external fund administrators, ensuring timely regulatory filings.
·Coordinate the annual financial statement audit fieldwork with external auditors, providing necessary documentation and reconciliations.
·Provide exceptional customer service, addressing client inquiries and concerns promptly and professionally.
This role offers an excellent opportunity to contribute to a dynamic and growing team. If you are detail-oriented, proactive, and eager to make a significant impact, we encourage you to apply.
Qualifications:
·Undergraduate degree or relevant professional experience; preferably in accounting, finance, or audit.
·1-4 years’ work experience in fund administration or fund accounting for private investment fund of funds, hedge and/or private equity funds.
·A team-oriented ambitious individual with strong interpersonal, organizational, communication skills and attention to detail.
·Ability to work in a rapidly growing fast-paced environment and manage multiple competing priorities within deadlines.
·Experience in fee calculations for hedge funds and private equity funds, including carried interest (carry) and waterfall structures, is highly valued.
·Proficiency in Microsoft Excel (including links, reference formulas/lookups, and pivot tables (Macro skills a plus)), and Word skills are required; expertise in Visual Basic for Applications (VBA) programming is a significant plus.
· Alteryx, PowerBI, or other data analytic software knowledge a plus, but not required
The firm is committed to the concept and practice of equal employment opportunity and will not discriminate against any employee or applicant on the basis of race, color, religion, age, sex, national origin, sexual orientation, gender identity, disability, or veteran status. It is expected that all employees will follow a similar policy toward their co-workers.
