Manager, Private Equity

at  Citco

ABOUT CITCO:

The market leader. The premier provider. The best in the business. At Citco, we’ve been the front-runner in our field since our incorporation in 1948 led to the evolution of the asset servicing sector itself. This pioneering spirit continues to guide us today as we innovate and expand, push beyond the boundaries of our industry, and shape its future. From working exclusively with hedge funds to serving all alternatives, corporations and private clients, our organization has grown immensely across asset classes and geographies. For us, this progress is a pattern that we’ll only maintain as we move forward, always prioritizing our performance. So for those who want to play at the top of their game and be at the vanguard of their space, we say: Welcome to Citco.

• Maintain and control the general ledger and various sub-ledgers.
• Prepare and review financial statements, footnotes, and partner capital statements
• Prepare and review limited partner and general partner allocations
• Prepare and review trial balances and work paper product
• Review capital activity that pertains to the funds including capital calls, distributions, and transfers
• Prepare and review fee calculations including (but not limited to) management fees, admin fees, waterfall clawback, and carried interest calculations
• Manage and monitor the timing and quality of client deliverables
• Interact with senior management and manage overall relationships for multiple clients
• Provide technical accounting/industry knowledge to clients
• Establish plan for new client setup and transitions
• Coordinate with Operations group, Financial Statement group, Tax group, and Investor Relations group
• Coordinate, manage, and monitor external audit process
• Review private equity fund client’s partnership agreements, PPMs and other materials
• Implementation of fund structures on accounting system
• Complete ad hoc reports as needed
• Read and understand Limited Partnership and side-letter agreements, specifically the distribution waterfall provisions contained therein.
• Function as a Subject Matter Expert in relation to all aspects of distribution waterfall calculations across multiple investment strategies and structures.
• Fully document the calculation requirements associated with a fund’s distribution waterfall calculations, inclusive of specific Limited Partner provisions, to support the on-boarding of funds to Citco’s waterfall calculation models.
• On-board funds to Citco Waterfall, Citco’s proprietary calculation engine (inclusive of on-boarding waterfall structures, calculation methodologies, Limited Partner waterfall terms, and mapping to source-system accounting data).
• Complete the analysis, design, setup and testing of built Excel-based calculation models based on the relevant fund documentation and source-system accounting data.
• Support Citco’s global Fund Accounting teams in relation to hypothetical and realized waterfall calculations, as well as audit support and ad-hoc requests.
• Work with Citco’s dedicated development staff to provide business requirements and support in relation to modifications and enhancements to Citco Waterfall.
• Participate in the Business Development process to facilitate demos of Citco’s waterfall technology, as well as establishing Citco’s expertise in relation to waterfall calculations.
• Coordinate with all relevant teams to ensure internal workflows will meet client needs and regulatory controls.
• Coordinate with both internal and external stakeholders to ensure all necessary data is captured and migrated for client reporting and calculation models.
• Contribute to on-going discussions on operational process and best practices; document and implement process improvements.
• Maintain a pro-active customer focus at all times.
• Coordinate risk management activities within the business and provide resourcing as needed to help drive results.
• Participate in the review, documentation, analysis and oversight of Incidents, Action Plans, and Risk Assessments
• Identify possible solutions and / or opportunities for automation and standardization in order to mitigate operational risks
• Support the first line by coordinating the reaction and response with key partners including Group Risk Management, Group Internal Audit, Group Compliance and other Group functions where required
• Assist in the development of policies, procedures and operating practices
• Assist with training development and coordinate training participation at all levels of the organization
• Facilitate operational risk management and committee meetings
• Participate in ad hoc projects as needed
• Onboard clients to Citco’s technology platforms and develop into a subject matter expert on systems and implementations.
• Review and assist in the interpretation and documentation of fund legal documents.
• Coordinate with both internal and external stakeholdersto ensure all necessary data points are properly captured for reporting and calculation modeling.
• Coordinate with all relevant teams internally to ensure processes and workflows are aligned to meet client needs.
• Understand complex fund structures and accounting for them accordingly.
• Maintain a current and thorough understanding of applicable best practice policies and client specific agreements.
• Prepare, analyze client’s financial data for conversion into Citco platforms.
• Partner with key stakeholders on the development and testing of Citco’s technology platforms.
• Contribute to ongoing discussions on workflow process and best practices; document and implement process improvements.
• Participate in marketing and sales pitches; effectively demonstrate and communicate Citco’s on-boarding process and waterfall capabilities.