Assistant Controller - Fund Accounting
IDj-35443
Job TypeDirect Hire
Remote TypeHybrid
Ascension Search Partners has been engaged by a leading investment management firm headquartered in the United States with a presence in major financial hubs. The firm operates a multi-manager investment platform with a focus on fundamental equity strategies, complemented by event-driven and systematic approaches to enhance portfolio construction and risk management. With billions in assets under management, the organization fosters a collaborative, high-performance culture and emphasizes disciplined processes, specialized expertise, and scalable investment solutions.
Job Summary:
Join the Fund Accounting team and lead key aspects of the day-to-day and month-end accounting activities of the organization’s funds. The role reports directly to the Head of Accounting, will provide day-to-day work direction and technical review of junior team members, and will serve as a primary point of review and escalation before deliverables reach the Head of Accounting. The role will play a pivotal role in the company’s fund accounting function and will collaborate closely with the corporate accounting, operations, marketing, compliance, and legal teams, as well as with the fund's external administrator and auditors.
Primary Duties:
- Own the review of fund NAV deliverables — including daily estimates, investment valuation, and investor statements — and serve as the primary point of contact for the fund administrator, escalating exceptions and ensuring deadlines are consistently met
- Lead and oversee day-to-day fund accounting operations, including maintenance of the shadow accounting system, expense processing, and general ledger activity, ensuring accuracy and adherence to internal controls
- Provide day-to-day task direction and technical review for Fund Accounting junior team members, ensuring accuracy and timeliness of deliverables
- Review and approve calculations of complex management fees, incentive/performance fees, and allocations across multiple relationships, including side letters
- Serve as a key point of contact for external service providers (fund administrator, auditors, tax preparers, compliance consultants), resolving escalated issues and driving timely resolution
- Manage the annual external audit process end-to-end, including coordination of PBC requests, resolution of auditor inquiries, and review of draft financial statements and footnote disclosures
- Manage the tax compliance process for the funds, including coordination with external tax preparers on K-1 preparation, offshore tax reporting, and review of tax workpapers for accuracy
- Partner with the corporate accounting, operations, marketing, compliance, and legal teams on cross-functional workflow and initiatives
- Monitor and ensure ongoing compliance with the accounting and reporting provisions of the governing documents of the funds and investment management agreements, flagging discrepancies proactively
- Identify, recommend, and help implement process improvements and system enhancements to increase the efficiency, accuracy, and scalability of the fund accounting function
Educational/Experience Level:
- A Bachelor's Degree required; a Master in Accountancy a plus
- 7-10 years of progressive accounting experience required, including public accounting/Big 4 and/or hedge fund or fund administrator experience
- Proven ability to guide, train, and review the work of junior teammates and provide constructive, technical feedback
- Strong US GAAP Financial Statement experience required
- Hedge fund experience strongly preferred; familiarity with master-feeder structures and complex fee/allocation arrangements a plus
- CPA Certification required
- Highly organized, self-directed with a strong attention to detail, sound judgment, and a hands-on, roll-up-your-sleeves approach