Department: Finance & Accounting
Location: Washington, DC
Compensation: $80,000 - $90,000 / year
Description
We are seeking a highly detail-oriented and process-driven Fund Operations Associate to join our Fund Accounting team. This role is ideal for someone experience at a fund administrator, or in a bank operations (back or middle office) environment, who thrives in a fast-paced setting and enjoys the operational “blocking and tackling” required to keep accounting workflows running smoothly.
This individual will be primarily responsible for coordinating and tracking wire transfers and supporting a range of fund-level operational tasks. The role offers a clear path to take on additional responsibilities related to cash management, reconciliations, capital activity tracking, and audit support.
Key Responsibilities
- Aggregate internal wire requests, format for submission, and coordinate with the fund administrator (SEI) to ensure proper execution.
- Confirm legal entity cash sources, track wire status, escalate delays, and communicate payment confirmations to internal stakeholders and external counterparties.
o Volume varies: 5–10 wires/day during normal periods; up to 25–30 on “allocation days” (loan purchase days). - Coordinate early payoff (EPO) and early payment default (EPD) transactions with Capital Markets, Fund Admin, and counterparties.
- Confirm EPO and EPD wire instructions, track execution, and ensure all parties are informed and aligned.
- Conduct first-pass review of capital activity transactions and input data into Maybern (system used to manage investor return information).
- Respond to open items and questions from Fund Administrator (SEI) and accounting partner (Richey May).
- Weekly reconciliation between Verus-led funding adjustments and Fund Admin records to validate accuracy of settlements.
- Assist with preparation of draws/paydowns related to the subscription facility backed by LP capital.
- Perform ad hoc or scheduled reconciliations of fund-level cash activity.
- Prepare the a monthly loan report as part of Verus’ responsibilities as asset manager in a securitization structure.
- Update and maintain invoice allocation tables across funds to support the accounts payable process.
Stretch / Growth Opportunities- Draft first-pass documentation for repo debt securities certifications and distribute for review/signoff.
- Field and triage issues/questions related to trade file discrepancies.
- Post General Partner activity in QuickBooks for the management company’s investments.
- Provide documentation, process narratives, and reconciliation support during annual audits.
Skills, Knowledge and Expertise
- 1–2+ years of relevant experience in fund operations, fund administration, back/middle office at a financial institution, or public accounting.
- Strong Excel skills and comfort working with data templates and operational systems.
- High attention to detail, ability to multitask under pressure, and a proactive approach to follow-up.
- Comfortable with routine and high-volume tasks like wire processing and reconciliation.
- Excellent written and verbal communication skills for working with internal teams, external fund administrators, and auditors.
- Availability through 6:00 PM ET daily to accommodate end-of-day Fed wire deadlines.
Preferred Qualifications- Experience with investor capital activity systems like Maybern.
- Familiarity with fund structures (private credit, structured products, or securitizations).
- Exposure to subscription lines, trade settlements, or financial reporting workflows.
- Prior experience supporting external audits.
Key Competencies:- Attention to Detail: Ensuring accuracy across wire processing, capital tracking, and reconciliation tasks.
- Process Orientation: Comfort with routine, high-volume operations and maintaining consistency across workflows.
- Time Management: Managing daily deadlines (e.g., wire cutoffs) and juggling multiple priorities, especially during high-volume periods.
- Communication Skills: Coordinating clearly with fund administrators, internal teams, and external counterparties.
- Problem Solving: Triaging trade discrepancies, responding to audit questions, and escalating wire delays proactively.
- Technical Proficiency: Strong Excel skills and the ability to work with operational and fund reporting systems (e.g., Maybern, QuickBooks).
How This Role Demonstrates Our Values- Integrity: Upholds rigorous standards in financial operations, ensuring accurate wires, reconciliations, and reporting—critical for stakeholder trust and regulatory compliance.
- Collaboration:Works cross-functionally with Capital Markets, Accounting, Fund Admin (SEI), and Richey May. Supports team alignment and smooth transaction processing through effective communication.
- Excellence:Drives accuracy and efficiency in fund operations. Owns key processes with precision and seeks opportunities to improve workflows and support audits.
- Critical Curiosity:Engages proactively with discrepancies, audit items, and data anomalies. Pursues understanding of fund structures, financial products, and capital activities to broaden their impact over time.
Benefits
- Invictus medical, dental and vision is covered at 100% for all tiers.
- We offer FSA’s for healthcare, dependent care, transit and commuter costs.
- Safe harbor 401(k) match of 4%; employees need 3-months of service to be eligible to participate. No vesting after that.
- $80 per month cell phone reimbursement.
- 20 Days of PTO accrued at the beginning of the year, plus 10 company holidays.
- Tuition Reimbursement
