Associate - Fund Accounting
BlackRock · Posted Oct 13
Investment management, asset management, risk analytics, and wealth services
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About the role
BlackRock is an investment management firm whose mission is to help more people experience financial well-being. This role sits in fund accounting for private equity funds, covering management accounts, GAAP financial statements, carry/equalization, waterfalls, audits, regulatory returns, and treasury support. The Associate will prepare and review fund accounting records, coordinate audits, train junior team members, and help drive process improvements and AI/automation adoption.
What you will do
- 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
- Identify and implement process improvements to enhance operational efficiency, strengthen controls, and improve the quality and consistency of fund accounting and reporting activities.
- Drive the development and adoption of AI and automation solutions to streamline fund accounting, strengthen analysis and reconciliations, improve exception detection and reporting, and enhance review effectiveness with appropriate governance and oversight.
Skills used in this role
What the employer is looking for
- 4+ years of strong related experience in the private equity fund accounting is preferred
- An understanding of fund/group structures preferred but not essential
- Knowledge on private equity carry, waterfall, LCI and equalisation specific to private equity funds
- UK or US GAAP working knowledge is essential and IFRS, Canadian GAAP or Lux GAAP is desirable but not essential
- Experience with FIA (front invest analytics) ideal, but not required
- Excellent working knowledge of accounting databases/running reports
- Competent user of MS Excel and other MS products
- Experience in using AI and automation tools, including identifying use-case scenarios, prompt writing, output validation, and responsible data governance.
Benefits and support
- strong retirement plan
- tuition reimbursement
- comprehensive healthcare
- support for working parents
- Flexible Time Off (FTO)
About BlackRock
BlackRock, Inc. is an American multinational investment management corporation and the world's largest asset manager. The firm provides institutional and individual clients with a broad range of investment, advisory, and risk management products, including its proprietary Aladdin financial technology platform. Headquartered in New York City, BlackRock manages trillions in assets across global equity, fixed income, alternative investments, and iShares exchange-traded funds (ETFs).
- Industry
- Investment Management
- Company size
- 24900 employees
- Founded
- 1988-03-09
- Location
- New York, New York, USA
- Funding stage
- Public Company
Leadership
Chairman and Chief Executive Officer
President and Director
Chief Financial Officer and Global Head of Corporate Strategy
Chief Operating Officer
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