Fund Accountant

Job Title: Fund Accountant (Private Equity)Location: Remote (U.S.-based)

Type: 1099 Contractor

Duration: 3 to 6 months, could extend to full time

Hours: Full-time (40 hours/week)

Rate: $55/hour

About the Role:

We are seeking a skilled Senior Fund Accountant with 3–6 years of experience in private equity or investment funds. This is a contractor role focused on implementing a new accounting system for a private equity fund manager (various funds), which includes uploading and reconciling historic data and supporting a parallel environment until the new system is fully up and running. The ideal candidate has strong technical knowledge in US GAAP, fund accounting, partnerships, and waterfall calculations, along with a proven ability to work independently in a fast-paced environment. They are comfortable using and learning accounting systems, knowledge of Sage/Intacct and Investran are preferred.

Key Responsibilities:

• Assist in large project to transition accounting systems and update financial reporting proceses to support new systems environment.
• Upload historic journal entries or manually book as needed into a new accounting sysem for a parallel reporting environment that reports quarterly investment activity for the fund, including capital calls and distributions.
• Perform historic detailed cash reconciliations and investment cost roll forwards for investments, and once caught up to current, prepare for ongoing reporting in a parallel environment including reconciling to old system.
• Reconcile historic carried interest waterfalls, including both hypothetical and realized carried interest calculations. Prepare for real time reporting once caught up to current for period of parallel.
• Assist with refreshing quarter end close NAV package including supporting statements, consolidations, and Financial Statements to be used with the new system. Assist IT team with designing reports from the new system to be used in refreshed packages.
• Prepare and analyze partnership income allocations, including capital account maintenance and quarterly partnership statements out of the new system, reconcile historic information to old workpapers/old system data.
• Collaborate with other team members to verify accuracy and completeness of fund data and waterfall inputs in new system

Required Experience:

• Bachelor’s degree in Accounting, Finance, or related field
• 4–6 years of experience in fund accounting, specifically with private equity or closed-end drawdown funds, having worked on accounting close processes for preparation and review of NAV packages and financial statements.
• Experience in preparing journal entries, capital account allocations, carried interest waterfalls, and partner statements in accordance with fund agreements.
• Experience and understanding of capital activity processes, including capital calls and distributions/ subscriptions and redemptions process.
• Strong understanding of partnership accounting principles and US GAAP related to investment funds
• Proficiency in Microsoft Excel (pivot tables, VLOOKUP/XLOOKUP, nested formulas, etc.)
• Experience preparing or reviewing Statements of Investments, capital account roll forwards, and investment cost schedules. Familiarity with performance metrics like net and gross IRR calculations
• Strong attention to detail and analytical skills. Strong communication skills and the ability to collaborate cross-functionally.
• Ability to work independently and meet tight deadlines in a remote environment
• Liaise with multiple teams to ensure timely and accurate reporting deliverables.

Preferred Qualifications:

• CPA or progress toward CPA license
• Prior experience in a fund administrator, private equity firm, or public accounting firm serving asset management clients
• Bachelor’s degree in Accounting, Finance, or related field; CPA or progress toward CPA strongly preferred.
• 2 + years of relevant experience, ideally within public accounting (alternative investments audit) and/or fund accounting at an asset manager.
• Understanding of investment fund structures (LP/GP, feeder funds, parallel vehicles) and waterfall allocations.
• Familiarity with valuation techniques and ASC 820 fair value hierarchy.