Assistant Controller, Alternative Investments

Chicago, Illinois, United States
18 Oct 2021
18 Nov 2021
Contract type
Full time
Experience level
Qualified accountant

United States, Illinois, Chicago; United States, New York, New York; United States, Connecticut, Stamford; United States, Arizona, Tempe; United States, Florida, West Palm Beach.

Summary - Assistant Controller, Alternative Investments

The Alternatives Assistant Controller will be responsible for overseeing the day to day operations of our hedge fund and private equity fund of funds. This role will be key part of the team to ensure the safety of client assets and that procedures are being followed.

50 South Capital was formed with the vision of building a team of experienced professionals while leveraging the network, reach, and resources of a global asset management firm. We believe that this will position us to generate attractive risk-adjusted performance and most importantly, to provide a boutique client experience that investors seek in a long-term partner. As of December 31, 2020 we have approximately $7.6 billion in assets under management and $2.9 billion in assets under advisement.

Primary Duties

  • Provide oversight of fund administrators on a daily basis and run weekly meeting with admin team.
  • Oversee the monthly NAV close process for the Hedge Funds and quarterly close for PE Funds
  • Daily Cash Management Oversight
  • Assist with preparing and reviewing capital calls and distributions for PE Funds
  • Coordinate the cash flow forecasting
  • Prepare annual expense budgets and coordinate expenses payments for Hedge and PE Funds.
  • Manage internal portfolio accounting system and reconcile data to Fund Admins.
  • Coordinate annual financial statement audits
  • Assist in the valuation of private securities and become a member of the Private Capital Valuation Committee
  • Work with auditors to prepare and review the financial statements for funds.
  • Assist with Compliance Reporting (Form PF, ERISA Reporting, CPOPQR< Volker Rule, etc)

Necessary Knowledge and Skills

  • Understanding of Private Fund Structures and Alternative Investments
  • Strong Organization Skills to ensure compliance with multiple deadlines
  • Good Verbal Communicator and strong writing skills
  • General understanding of Partnership Tax
  • Strong MS Excel Skills
  • Understanding of US GAAP and Financial Reporting
  • Understanding of Fair Value Principles

Necessary Experience and Education

  • CPA with 3-5 years of public accounting experience in financial services
  • Performed financial statement audits of either Hedge/PE Funds
  • Worked for Hedge or PE Fund in an fund accounting or operations role

About Northern Trust

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Working with us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!

We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why we are honored to receive the following awards in 2021:

  • Gender Equality Index Member, Bloomberg
  • Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine

We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.

For further information, and to apply, please visit our website via the “Apply” button below.

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