Fund Accounting Manager

TCW • Los Angeles, CA, US • 5m ago

Position Summary

The Fund Accounting Manager will be an integral member within the Client and Fund Reporting-Alternatives (CFR) group of TCW and will be responsible for working with various internal and external teams. The role will be primarily focused on ensuring the timely and accurate completion of the Private Credit Group’s fund level reporting, including fund accounting, financial reporting, managing credit facilities, RIC /40 Act compliance, capital calls/distributions, tax reporting, fund expenses, and treasury services.

This position will coordinate and liaise with various groups within TCW, including but not limited to corporate accounting, client and fund reporting, investment operations, legal, tax, and compliance.

This position will work directly with members on the CFR team as well as TCW’s Private Credit Group.

Essential Duties

Fund Accounting

Prepare and review month-end NAV and closing packages created from internal accounting system
Prepare calculations of management fees, fund level IRRs, hurdle rates, incentive fees and carry allocations in accordance with governing fund documents
Process payments, booking and review all fund level expenses and setup accrual schedules
Prepare quarterly financial statements and review them for accuracy and completeness
Maintain capital activity report of unfunded commitments, recallable capital and available capital
Prepare and review capital call and distribution notices for various funds
Complete audit inquires and requests

Credit Facility

Prepare borrowing and repayment notices, issuer orders, borrowing base and compliance certificates
Update borrowing base reports for subscription facilities and asset-backed facilities and related activities

Tax and Compliance

Assist with the RIC and 40act asset-diversification and asset coverage tests as well as various income and distribution tests

Cash Management

Review daily cash reconciliations and assist with management of cash balances through use of credit facilities and other fund level activities

Required Qualifications

Bachelor's degree in Accounting, Finance or Economics
At least 5 years of fund accounting experience, preferably within large investment firms or financial institutions, and strong background in alternative investment funds with a focus on asset backed facilities or CLO’s
Familiarity with middle market and syndicate loans; private equity structures, RIC’s and BDC’s; and marketable and private holdings
General understanding of credit facility agreements and covenant compliance requirements
General understanding of fund-governing documents, PPM’s, LLC/LP agreements, IMA, etc.
General knowledge of various legal structures LLC/LP’s, parallel funds, master feeder structures, etc.
Critical thinking skills, ability to review without reproduction, and some analytical capacity

Professional Skills Qualifications

Excellent verbal and written communication and interpersonal skills (must establish good working relationships with internal and external teams)
Excellent organizational skills and attention to detail
Strong analytical and problem-solving capabilities