Fund Accounting Senior Associate

Job Description Office : • Learn and abide by office policies. • Familiarise yourself with and leverage the Standish Wiki page. Interpersonal /Training: • Network with peers to get to know others within your office and teams. • Participate in your office mentorship program. • Get to know your fund controller/mentor and lay out a development plan for yourself with their help. • Start to train those around you, inclusive of peers and Fund Associates. • Ask lots of questions and take plenty of notes. Technical Ability: • Industries: • Have a basic understanding of the venture capital/private equity industry. • Have a basic understanding of client structures. • Familiarize yourself with each client’s limited partnership agreement (LPA) and how it is used to guide the administration of a fund. • Operations: • Cash/Banking: • Understand how to setup bank wires– wire templates (for distributions), individual expense, and portfolio company wires; • Understand bank wire deadlines. • Understand purpose of line of credit. • Investor Relations/CRM: • Understand how to prepare and/or review responses to limited partner (LP) requests. • Understand how to prepare or review audit confirmation from an LP. • Other: • Understand the organisation of the Standish “X drive” and where to find relevant data. • Save and organise documents on the “X drive” in a timely manner. • Understand and anticipate client deliverables and timelines. • Capital Activity: • Proficiently and accurately calculate allocations related to capital calls and distributions. • Understand how to prepare capital call and distribution notices within the system that you’re working. • Understand how to track receipt of capital calls and reconcile distribution wires. • Financial Reporting: • Financial Statements (General Ledger): • Demonstrate proficiency at booking general ledger (GL) entries (e.g., cash activity, accruals, valuations). • Demonstrate proficiency at preparing financial statement workbooks. • Demonstrate proficiency at calculating various internal rates of return (IRR) and other relevant fund performance metrics (in general and as requested by client). • Understand how to tie-out and foot financial statements. • Learn how to prepare management fee calculations. • Technology: • Understand how to correctly use software for your clients (GL/investor reporting). • Understand how to prepare data for upload into the investor reporting platform. • Understand how to use Excel and its functions and relevant formulas. • Assist to onboard/migrate new or existing clients to Standish’s reporting databases and systems. • Tax: • Forms 1099: • Understand the purpose of Forms 1099. • Forms 1065 and Schedule K-1: • Understand the purpose of Form 1065 and Schedule K-1. • Manage the information gathering for tax preparers. • Proficiently tie out the return and K-1s with the help of your Fund Controller (reconciling information/numbers provided by Standish). • Manage the partner information review process on the K-1s. • Audit • Understand how to fill out audit confirmations. • Manage the PBC (prepared by client) lists and providing documentation to auditors. • Understand how to roll-forward financial statement footnotes. • Understand how to do financial highlight (fihi) and other expense calculations for audit footnotes. • Assist with responding to auditor questions and requests. Expectations : • It is expected that Senior Associates will require training from their teams, mentors, and colleagues. • As such, it is expected that Senior Associates will have (and should ask) a lot of questions. • The expectation is that you should be proficient in the skills/processes outlined above within a six-to-twelve month timeframe. • It is exp