Fund Control Manager - NAV Oversight (Hybrid)

Doe Park Water Activities Centre; Droylsden; Hybrid; GBP 80,000 - 100,000; Full time

Benefits offered by this job

Hybrid working

Job summary

Northern LGPS is seeking a Fund Control Manager in the UK to lead the fund control function, safeguarding NAV integrity and the fund accounting records across pooled assets.

Reporting to the Head of Investment Operations, you will oversee NAV reviews, challenge external providers, manage the accounting book of record, and develop a seven-strong Fund Control team while supporting regulatory reporting and audits.

Qualifications

• Qualified accountant (ACA/ACCA/CIMA) or equivalent.
• Experience in FCA-regulated financial services firms.
• Experience with NAV oversight and challenging outsourced administrators.
• Knowledge of fund financial statements and external audit.

Responsibilities

• Own the review of administrator-produced NAVs against documented controls and tolerance thresholds, ensuring each NAV is appropriately reviewed and signed off.
• Provide effective challenge to the fund administrator, taking NAV queries through to resolution and assessing NAV errors, restatements and any resulting compensation position.
• Identify pricing and valuation exceptions and refer these to the Valuations Manager, maintaining clear separation between NAV oversight and fair value determination.
• Own the accounting book of record, including general ledger oversight, reconciliation to the administrator, trial balance and analytical review, income and distribution accounting and revaluation review.
• Explain and sign off differences between the accounting book of record and investment book of record, ensuring concluded fair values are appropriately reflected in both.
• Oversee expense accruals and independently recalculate management fees, performance fees and carried interest before payment authorisation.
• Validate provider invoices against contracted rates and analyse fund expenditure against budget.
• Lead Northern’s private markets accounting, including capital account maintenance, general partner statement ingestion and reconciliation, equalisation and waterfall accounting, look-through data and annual review of general partner audited financial statements.
• Own commitment schedules and unfunded commitment reporting to support treasury drawdown planning.
• Own the financial statements of Northern’s pooled vehicles, including the Northern Private Equity Pool, and act as the operational contact for their external audit.
• Provide the accounting and investment information required by Northern’s three administering authority partner funds to prepare their pension fund financial statements, working to each fund’s required timetable and specification.
• Oversee the provision of fund-level data supporting relevant tax and regulatory reporting, including AIFMD Annex IV, MIFIDPRU and ICARA inputs, SDRT, FATCA, CRS, VAT recharge data and US tax requirements.
• Manage the day-to-day relationship with the fund administrator, maintaining effective error logs, root-cause analysis and input into Northern’s wider third-party oversight arrangements.
• Establish and maintain effective procedures and financial controls, ensuring these can be evidenced appropriately to auditors and regulators.
• Provide Fund Control reporting to the Operating Committee and work closely with the Finance Director on the boundary between fund-level and corporate accounting, tax and regulatory reporting.
• Lead and develop the Fund Control team, with a target structure of seven direct reports.

Skills

Fund accounting

NAV oversight

Challenge external providers

Regulatory knowledge

Financial controls

Education

ACA / ACCA / CIMA

Job description

Northern LGPS is seeking a Fund Control Manager in the UK to lead the fund control function, safeguarding NAV integrity and the fund accounting records across pooled assets.

Reporting to the Head of Investment Operations, you will oversee NAV reviews, challenge external providers, manage the accounting book of record, and develop a seven-strong Fund Control team while supporting regulatory reporting and audits.