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Private Markets Fund Accounting Specialist

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Manulife

Dec 18, 2024

  • Job
    Full-time
    Junior & Mid Level
  • Accounting & Tax
    Banking & Finance
  • Quezon City
  • Quick Apply

AI generated summary

  • You need a Bachelor's in accounting or finance, 1-3 years in alternative investments, strong analytical skills, proficiency in MS Office, and the ability to meet deadlines and work collaboratively.
  • You will oversee NAV accuracy, manage reporting timelines, reconcile accounts, prepare cash forecasts, execute capital calls, and maintain deal info while enhancing operational efficiencies and supporting teams.

Requirements

  • Bachelor’s degree in accounting or a related field of Finance.
  • 1-3 years of experience in Alternative Investments, with a focus on fund accounting and fund administration.
  • Hybrid Work Arrangement: Amenability and readiness to work onsite and from home anytime (dependent on business need AND/OR current external environment/situation) and must be willing to work on a mid-shift schedule.
  • Prior experience in Operations/Accounting related to Alternative Investments (private debt, bank loans, fixed income, and mortgages) is advantageous.
  • Demonstrated ability to thrive in an environment where adherence to procedures and controls is essential.
  • Proficient computer skills, with the ability to quickly learn and adapt to new applications.
  • Proficiency in MS Office Tools such as PowerApps, PowerBI, and Excel.
  • Experience with Accounting Platforms (Investran (FIS), SimCorp) is an advantage.
  • Strong technical, analytical, organizational, and problem-solving skills.
  • Client-focused approach with the capability to understand and address client requirements.
  • Ability to establish and maintain strong relationships with individuals at all levels and across various functions within the organization, as well as with external partners.
  • Quick learner and solutions-oriented, with the ability to escalate issues to management when necessary.
  • Exceptional attention to detail and a high level of accuracy.
  • Capability to react promptly and meet tight deadlines while maintaining precision and thoroughness.
  • Excellent oral and written communication skills in English, with strong comprehension abilities to effectively engage with internal and external stakeholders.
  • Demonstrated initiative and a collaborative team player mindset.

Responsibilities

  • Assist with the monthly and quarterly NAV oversight process for several private market senior credit funds to ensure the overall accuracy of the fund administrators portfolio accounting books of record.
  • Lead administrator duties and deliverables via internal tracker, report status, escalate delays, establish workarounds and solutions to ensure timely and accurate production of the monthly and quarterly client reporting process in conjunction with the front office, finance, performance, and the administrator.
  • Review and reconcile various general ledger accounts including cash and holdings by liaising with internal teams and external vendors to resolve any differences in the custodian and administrator’s books of record.
  • Prepare and provide cash forecast projections to portfolio managers on a daily basis based on future fund activity by tracking potential deal closings, expense payments, receivables, and fund cash flows.
  • Prepare the calculation and execution of capital calls and distributions, calculation of carried interest waterfalls, and performance measurement and reporting.
  • Maintain senior loan deal information on a dynamic basis for the team’s use in preparation of NAV strikes and client reports.
  • Adherence to internal policies and procedures.
  • Provide Admin data to support the front office, finance, compliance, and internal leadership requests.
  • Work closely with managers to implement efficiencies to existing operating model as needed.
  • Strong contributions to projects, new initiatives, and technology development.

FAQs

What is the job title for the position being offered?

The job title is Private Markets Fund Accounting Specialist.

What are some of the benefits offered by Manulife?

Manulife offers competitive salary packages, performance bonuses, Day 1 HMO with free coverage for dependents, retirement savings benefits, and a rewarding culture that values wellness and well-being.

What does the Private Markets Fund Accounting Specialist do?

The specialist assists with the monthly and quarterly NAV oversight process for private market senior credit funds, ensuring the accuracy of fund administrators' portfolio accounting records and leading administrator duties.

What qualifications are required for the position?

A Bachelor’s degree in accounting or a related field of Finance and 1-3 years of experience in alternative investments, with a focus on fund accounting and fund administration, are required.

What is the work arrangement for this position?

This position follows a hybrid work arrangement, allowing for both onsite and remote work depending on business needs and the current external environment.

What skills are preferred for applicants to the role?

Preferred skills include experience in operations/accounting related to alternative investments, proficiency in MS Office tools (such as PowerApps, PowerBI, and Excel), and familiarity with accounting platforms like Investran and SimCorp.

Is there a requirement for adherence to procedures and controls?

Yes, the role requires a demonstrated ability to thrive in an environment where adherence to procedures and controls is essential.

What type of person would be successful in this role?

A successful candidate would possess strong technical, analytical, organizational, and problem-solving skills, with a client-focused approach and the ability to maintain strong relationships across functions.

Are there opportunities for career development in this position?

Yes, Manulife emphasizes clear career development through extensive training resources and a collaborative workplace.

Is Manulife an equal opportunity employer?

Yes, Manulife is an Equal Opportunity Employer and is committed to fostering an inclusive work environment.

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Manulife

Finance
Industry
10,001+
Employees

Mission & Purpose

Manulife is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We have more than 40,000 employees, over 116,000 agents serving ~34 million customers worldwide, and over $1.3 trillion in assets under management and administration.