About 17Capital
17Capital is a private credit manager, specializing in NAV finance for the private equity industry. It provides non-dilutive capital to high-quality private equity management companies, funds, and institutional investors as part of their toolkit for value creation and portfolio management. Founded in 2008, 17Capital has completed over 100 investments and 50 exits, deploying more than $13 billion since inception. 17Capital has raised $13 billion across six successive funds and mandates.
For more information, please go to www.17capital.com
17Capitals’ Values
Our values are the basis on which we build strong relationships with our clients, our investors and each other. They are the foundation of our business and integral to our continued ability to pioneer success.
Build trust – We behave and act in ways that earn trust
Embrace “different” – We embrace new ideas and constantly strive to discover new ways of doing things
Make things happen – We are agile and responsive in a way that delivers success for all our stakeholders
Strive for excellence – We act with professionalism and adhere to our high standards
Overview of Department
The Fund Finance team currently comprises 13 team members (all London based) who have responsibility across the preferred equity and credit funds. This is a rare opportunity to join an expanding and high-performing team supporting the ambitious growth plans of the business. The CFO has over 20 years’ experience and is supported by Finance Directors and Fund Controllers with significant PQE.
Position Summary
We are looking to add a Vice President level Fund Controller on a 1 year fixed-term contract. The mandate will be to ensure the timely delivery of quarterly fund reporting and to have responsibility of the outsourced fund administrators in the production of the financial statements.
The role will include responsibility for calculating the valuations on portfolio investments. The individual will support the Finance Director and the Fund Operations Team in the day-to-day operations of the funds, working closely with the Other Fund Controllers and Operations Team to understand the requirements of the funds.
The individual will be confident to liaise with people of all levels across the business and will be excited by the opportunity of taking ownership and responsibility.
This is a broad and exciting role with plenty of stretch, for someone looking to advance their career at a leading and fast-growing private credit manager. The role is highly analytical, requires a keen eye for detail, ability to anticipate future events and propose solutions, and an enthusiasm for operationally developing the function.
Role & Responsibilities
Responsibilities will be focused on 17Capital Credit Fund SMAs and Co-Invests with future exposure to Preferred Equity & Credit Funds given the size of the team and the growing platform. Responsibilities include but are not limited to:
Reporting
- Developing a detailed understanding of fund performance metrics and calculation methodologies
- Developing a detailed understanding of the accounting standards and accounting treatments used across the fund partnerships
- Working day-to-day with 3rd party administrators and developing a strong working relationship with your counterparts on the funds
- Managing quarterly reporting timetables and ensuring delivery to deadline
- Supporting the Quarterly Investor Performance Reporting across multiple funds
- Supporting and reviewing the Quarterly Financial Statements
- Supporting and reviewing NAV production prepared under Lux GAAP
- Monthly NAV estimate calculations
- Supporting the Audited annual accounts process
- Review of drawdown and distribution calculations
- Review of management fee calculations
- Preparation and review of waterfall/ carry calculations
- Daily interaction with administrators
- Interactions with Investor Relations (UK & US) to complete DDQs and Ad hoc investor queries
- Working with service providers (Auditors, Banks, Tax Advisors)
Valuations
- Reviewing and approval of valuation calculations for the investments and support the Fund Controllers in the valuation process
Fund Operations
- Achieving a detailed understanding of the fund’s partnership agreements, borrowing facility agreements, operational processes, investments, investment pipeline, cash management processes and FX hedging policy
- Cash, treasury support and FX Hedging support to the Operations Team
Portfolio Management
- Obtaining a deep understanding of the commercials behind each deal so as to apply this when working on the various aspects of the fund accounting and operations
Forecasting and Management Information
- Have a detailed understanding of the Fund forecasting models
- Updating and verifying KPIs in management reports
Tax
- Provide support on UK tax compliance matters (review returns and ad-hoc queries), Luxembourg (corporate and VAT) and US (Investor K-1 reviews)
Process Improvement
- Supporting the implementation of new in-house systems and procedures
- Process set up and optimization (including automation)
- Documenting and mapping processes
Person Specification
Technical Skills
- ACA or equivalent accounting qualification
- Technically strong in the application of Lux GAAP (majority of our funds are Luxembourg based)
- Prior experience of managing a reporting cycle and producing/reviewing financial statements for a closed end fund in private equity, private debt or hedge fund
- Experience in 3rd Party administrator and service provider oversight
- Experience in the use of technology-based solutions to reduce reliance on excel
Competencies
- Highly analytical with prowess for working with high volumes of numerical data
- Meticulous attention to detail and accuracy
- Strong process management and well organised
- Ability to self-manage across multiple workstreams, both timetable driven and project based
- Proactive, organised and energetic with a creative mindset with the ability to bring new ideas, efficiencies and not afraid to challenge the status quo
- Ability to deal with highly confidential data, complete integrity and discretion is required
- Commercially minded and familiar with performance reporting, financial reporting and dealing with investors
Personal profile
- Team player with excellent interpersonal and people skills
- Good communication skills – written and oral
- Strong stakeholder management, ability to build relationships across the business
- Ability to manage up and set expectations
- A willingness to learn and engage
- Conscientious, hard working with excellent attention to detail
- Adaptable to changing work demands and ability to work across mulitiple deals or worksteams concurrently
- Able to manage time effectively and prioritise tasks
- Completer-finisher mindset
- 8 - 12 years professional experience
Key Relationships and Stakeholders
Internal
- CFO and Finance Directors
- Fund Finance team (Fund Controllers, Senior Fund Accountants and Fund Accountants)
- Investment and Portfolio Management Team
- Investor Relations
- External
- Fund administrators
- Bank loan admin departments
- FX advisor
- Tax advisors
- Investors
We can offer you:
Career development
- Opportunity to learn and grow whilst making a meaningful contribution to the expansion of the 17Capital platform during an exciting time of the firm’s life cycle
- Opportunity to step into a broad and exciting role that will provide the candidate with direct involvement and development opportunities in the key workstreams of a value-add Finance function
- Competitive reward and benefits
17Capital is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, disability, status as a protected veteran or any other category protected by law.
