Senior Accountant, Private Equity Funds

Overview

Who We Are

Alternative Investment Services is a distinct business line within the larger Investment Services group at BNY Mellon. BNY Mellon Alternative Investment Services helps clients gain the competitive advantage they need in today s fast-paced markets. Using a global approach to alternative assets administration and custody, we help portfolio managers mitigate risk, capitalize on opportunities, and master changing regulatory environments-at every phase of the investment life cycle.

With over $1.6 trillion in alternative assets under administration and/or custody worldwide, we understand the challenges of managing alternative assets, including real estate, funds of hedge funds, single manager hedge funds and private equity funds. Our client support and innovative technology allow for more efficient fund administration, as well as greater transparency. We continue to invest and develop capabilities in scalable asset servicing in the alternative-funds sector alongside the significant spend in our digital and data offerings. This makes us ready and able to adapt to and support client needs as allocations to alternative investment funds continue to grow. We are proud of our reputation and position as one of the world s largest providers of alternative fund administration.

Our global team of over 2,500 professionals is focused on alternative-fund servicing. We have principal Alternative service centers in New York, Luxembourg and Ireland. In addition, we have offices in Germany, Poland, Singapore, Hong Kong, India and the United Kingdom, as well as U.S. offices in California, Delaware, Florida, Illinois, New Jersey and Massachusetts. All of these strategic locations facilitate a strong global service model with consistency in technology, expertise and controls.

What We Do

Private Equity/Private Credit Fund Accounting Group Overview

Private Equity/Private Credit Fund Accounting Group is a specialized team within the Alternative Investment Services Division of Bank of New York Mellon focused on providing fund administration services to our Private Equity clients. We operate from Hong Kong, India, Poland, Ireland and the United States. The US team currently is comprised of 101 members (and growing) and supports numerous domestic and international money managers.

In the US, the team operates from New York, NY; Woodland Park, NJ; Los Angeles, CA; Wilmington, DE and Lake Mary, FL. Our team is primarily responsible for:

  • Preparing capital call and distribution calculations in order, to facilitate capital funding requests from clients.
  • Preparing and reviewing fund operating expense accrual budgets, as well facilitate wire instructions for vendor expense payments.
  • Processing portfolio trade activity related to fund investments.
  • Preparing and reviewing a fund s cash and asset reconciliation.
  • Executing PNL allocations to Investors.
  • Preparing and reviewing management and performance fee calculations.
  • Coordinating the preparation of and reviewing investor notices and capital statements.
  • Facilitating audit engagements on behalf of clients
  • Coordinating the preparation of unaudited or audited financial statements.
  • Facilitating onboarding of new clients and servicing existing clients.

The Role

Responsibilities:

  • Conducts accounting services on behalf of assigned clients and complex funds including determining net asset values, calculating fund performance, allocating expenses and preparing reports.
  • May lead work of junior team members for assigned client or fund.
  • Performs highly complex Fund/Client Accounting responsibilities in the areas of driving Service Improvement plans, targeting efficiencies, enhancing processes and specialist review functions.
  • Provides input into methodologies and checks complex work done by more junior team members.
  • Provides guidance and reviews work related to cash and asset reconciliations relating to complex accounts or transactions.
  • Resolves reconciliation of accounts for the most complex or atypical transactions and reviews work of junior team members.
  • Drafts reports for clients regarding the performance of highly complex funds. Provides guidance on report structure.
  • Regularly interacts with clients in answering questions and resolving multifaceted issues regarding fund reports and accounting processes.
  • Evaluates GAAP and/or IFRS rules to determine impact of new regulations on BNY Mellon fund accounting practices.

No direct reports. Provides guidance to less experienced team members. May be tasked with Team Lead responsibilities. May have people management responsibilities in some geographies. Contributes to the achievement of related teams objectives.

You!

Key Benefits for you:

  • Flexible, hybrid working arrangements (2 days in office each week)
  • Competitive wages
  • Career growth and development opportunities
  • 401k company match
  • Paid parental leave
  • Paid covid-19 sick leave, caregiver leave and more!

Preferred Qualifications:

  • Bachelor s degree (in Accounting or Finance) OR the equivalent combination of education and experience
  • 5-10 years total experience in Financial Services field required, preferably with Private Equity or Hedge Fund servicing experience.
  • Proficiency in using Microsoft packages particularly Excel is preferred.
  • Systems proficiency in Advent Geneva and or FIS Investran is a plus.
  • Ability to effectively prioritize and execute tasks in a high-pressure environment is preferred.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.

Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.

#LI-Hybrid

Employer Description:

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world’s financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It’s the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.

EEO Statement:

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
Associated topics: annuities, bond, broker dealer, commodities, dow jones, financial, fund, invest, s p, trader

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