HedgeServ is a leading global fund administrator with more than $450 billion in assets under administration across all investment vehicles including Hedge Funds, Private Equity Funds, UCITS, Hybrid Credit Managers, Funds of Funds and Managed Account Platforms. We optimize our clients’ experience using unique proprietary technology coupled with robotic process automation, intuitive digital programs powered by machine learning, and enhanced by an extensive proprietary transaction data set. HedgeServ’s entrepreneurial and innovative spirit cultivates a productive and agile environment enabling its team to anticipate clients’ needs and consistently deliver solutions in real time. Led by the most experienced team of industry experts, HedgeServ with 1,500+ professionals around the globe expertly provides customizable solutions for their clients’ risk, portfolio management, middle office, investor relations, accounting, regulatory, compliance, and tax services. Since its inception in 2008, HedgeServ has received numerous accolades, including Top Overall Administrator and #1 rankings for Fund Accounting, Reporting & Reporting Technology, Client Service, Investor Services, Alternative Fund Expertise, and Regulatory Expertise.
HedgeServ is a progressive company with continuously evolving ways of working to ensure a future-focused mindset. Our employees benefit from a robust career development framework and clear learning paths which outline career trajectory, training and progression plans. HedgeServ supports employees through a variety of offerings, including remote and hybrid working arrangements, and fully paid comprehensive health and well-being benefits. HedgeServ was recognized as a Next Gen employer by RippleMatch on its list of 100 top workplaces for Generation Z for 2022. HedgeServ operates 13 offices in the United States, Grand Cayman, Ireland, Poland, Bulgaria, Luxembourg, Philippines and Australia.
Private Equity Department
Due to its innovative technology and service offering HedgeServ’s closed end funds team is expanding. The team currently services a mix of private equity, real estate and hybrid structures. The team works with its clients on collaborating new technology solutions as well as client service models to support unique structures and operating models to meet an evolving and growing area within the asset management industry. We have an open and collaborative approach and look for everyone’s input when solving problems. This framework encourages professional development by empowering you to learn continuously and focus on more complex work as your experience progresses. Working in the PE department gives you exposure to new developments and forward-thinking approaches within our industry.
Job Description
As a Private Equity Associate you will be responsible for the execution of challenging tasks, within the guidelines and procedures provided by HedgeServ and under the supportive supervision and guidance of a Private Equity Supervisor and Manager. The Private Equity Associate will receive induction training tailored to key topics related to your role. In addition, there will be client-focused, technical on-the-job training, throughout the course of the graduate program.
Responsibilities
The below list is not finite and may be added to. The combination of tasks required to be executed will vary depending on both client structure, client requirements and business needs and will include:
- Assist in the production of monthly and quarterly NAV, ensuring completion of specified tasks per NAV PE checklists
- Calculate and process capital calls, capital distributions and statements for closed-end funds
- Prepare investor P&L allocations and fee calculations as part of monthly and quarterly NAV packages
- Prepare waterfall calculations
- Prepare performance calculations including IRRs
- Perform cash, position and market value reconciliations
- Escalate fund accounting issues and aged items to the Private Equity Supervisor
- Ensure all positions are priced correctly
- Calculate and process income and expense accruals including trading accruals
- Comply with HedgeServ’s defined checklists, procedures and controls
- Assist in the audit process and financial statement preparation if required
- Converse and liaise with internal service departments to resolve miscellaneous fund issues
- Ensure pre-agreed internal and external deadlines are met consistently
- HedgeServ operates a client focused structure which provides a wide range of experience to all levels of employees. As such a Private Equity Fund Accounting Associate should be flexible and willing to adapt.
Pre-requisite Knowledge, Skills and Experience
- Accounting, Economics, Finance, Mathematics or Business Degree
- IT Literate with an emphasis on Excel
- Positive attitude with a willingness to learn
- Strong verbal and written communication skills
- Strong attention to detail and well organized
- Strong analytical and problem-solving skills
- Ability to be flexible and work under pressure to tight deadlines
- Ability to positively influence team morale
- Act as a role model for HedgeServ
The salary range for this role is $60,000-$80,000. Specific salary will be determined based on education, experience, and skill set of the individual selected for this position.
