Associate - Fund Accounting
BlackRock
Bengaluru, IndiaPosted 27 days ago
Skill Required
ObservabilityanalyticsExcelandAIFulltime
Key highlights
- 4+ years of related experience in the financial service industry preferred.
- UK or US GAAP working knowledge is essential.
- Hybrid work model: at least 4 days in the office per week with flexibility to work from home 1 day per week.
- Comprehensive benefits including strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents, and Flexible Time Off (FTO).
Role overview
The role requires a detailed technical understanding of Private Equity funds, and the specific intricacies required in preparing financial statements, computing carry, private equity equalization and late closing interest. The role also requires detailed knowledge, through direct working experience, of waterfalls, IRR and other performance metrics (e.g. MoIC, DPI, TERs). The successful candidate will have extensive experience in preparing periodic and annual audited GAAP based financial statements specifically for Private Equity funds.
Responsibilities
- Prepare and review quarterly management accounts for client private equity funds.
- Lead general client reporting requirements, understanding the structure of the existing reports and client service level standards and key performance indicators (KPIs).
- Compute carry, equalization and late closing interest for funds administered.
- Prepare and review waterfall calculations.
- Maintain and process accounting records through journals and other transactions to the general ledger and trial balance.
- Manage and coordinate annual fund audits with external auditors and the client.
- Review draft annual financial statements in accordance with IFRS, UK GAAP, US GAAP, Canadian GAAP and Lux GAAP depending on fund domicile.
- Liaise with the tax team to ensure timely completion of tax engagements and appropriate charges and accruals are recorded in the financial statements.
- Complete and review regulatory returns as and when required.
- Develop a clear understanding of cash management function of the funds.
- Work with and provide support to the treasury team as and when required including but not limited to review bank reconciliation, cash management reports, daily liquidity monitoring, invoice and payment releases.
- Involvement in vital team management and allocation planning.
- Training development and potential management of junior team members.
- Involvement in RFPs for new prospects and successful onboarding of new clients.
Requirements
- Knowledge on private equity carry, waterfall, LCI and equalisation specific to private equity funds.
- UK or US GAAP working knowledge is essential.
- Excellent working knowledge of accounting databases/running reports.
- Competent user of MS Excel and other MS products.
Nice to have
- 4+ years of strong related experience in the financial service industry preferred.
- An understanding of fund/group structures preferred but not essential.
- IFRS, Canadian GAAP or Lux GAAP is desirable but not essential.
- Experience with FIA (front invest analytics) ideal, but not required.
Benefits
- Strong retirement plan.
- Tuition reimbursement.
- Comprehensive healthcare.
- Support for working parents.
- Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
- Hybrid work model: employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day per week (some business groups may require more time in the office).
- As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience.
- Networks, benefits and development opportunities to help colleagues thrive.
Additional details
- At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients.
- BlackRock encourages candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during their interview process, they want to focus on getting to know you through your own experiences, thinking, and judgment.
- Guidance provided on when and how to use AI during the hiring process.
- At BlackRock, the mission is to help more and more people experience financial well-being.
- Clients, and the people they serve, are saving for retirement, paying for their children's educations, buying homes and starting businesses; their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
- To learn more about BlackRock, please visit Careers.BlackRock.com. BlackRock also encourages candidates to get to know them on LinkedIn, Instagram, YouTube, X, and TikTok.
- BlackRock is proud to be an Equal Opportunity Employer. They evaluate qualified applicants without regard to age, disability, family status, gender identity, race, religion, sex, sexual orientation and other protected attributes at law.