Fund Accounting Transition Analyst
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.
The successful candidate will join a team responsible for onboarding of new clients onto the Hedgeserv platform, reporting directly to the Supervisor in this department but also with the support of the Manager and Director. The Fund Accounting Transitions team will, by the end of each new client transition, have reconciled back all aspects of the NAV to the prior administrator and handed the client over to the NAV team who will then move on with Hedgeserv’s daily and monthly processes. The requisite Induction Training will be provided in addition to both compulsory training (AML/KYC) and optional training. Additional role-specific training shall be provided by the Manager and Director.
Key Accountabilities of the Role
The below list is not finite and may be added to. The combination of tasks required to be executed will vary depending on business needs.
- Working with the new client to ensure all the requisite information necessary is received in order to be able to begin the initial take on in a timely manner
- Load all listed open tax lots into our system and liaising with our Middle Office Department to ensure that all OTC Open tax lots are loaded onto our system along with the daily trades that will be loaded once the initial positions are reconciled
- Reconciling back to the prior administrator books and records and accounting for any differences that may occur between the prior administrators system and the Hedgeserv in-house NAV systems at take on date
- Liaising with the Hedgeserv NAV team during the parallel period where both the previous administrator and Hedgeserv are both producing a NAV
- Ensuring that at each month end during the parallel period that a full reconciliation is completed between the prior administrator and the Hedgeserv records and that any breaks are accounted for
- Loading historical trades for Clients where HedgeServ are performing a historical backfill of their Portfolios and reconciling positions and profit and loss on a monthly basis
Pre-requisite knowledge, skills and experience
- Accounting, Finance or Business Degree. Min. 2.2 honors degree
- Reconciliation skills with ability to problem solve and to resolve breaks
- Ability to be flexible and work effectively both within a team structure
- Microsoft Office, product and process knowledge an advantage