NAV Oversight Lead, Fund Control

Bradford Corporation; Droylsden; Hybrid; GBP 80,000 - 100,000; Full time

Benefits offered by this job

Flexible and hybrid working

Colleague wellbeing

Job summary

Northern LGPS is seeking a Fund Control Manager to safeguard the integrity of fund-level accounting and oversee NAV quality across its external administrator. You will lead a technically capable function, challenge outputs, and drive robust controls within private markets accounting and regulatory reporting.

Reporting to the Head of Investment Operations, you will align with the Finance Director on fund-level vs corporate accounting, tax and regulatory matters, and lead a team of seven.

Qualifications

• You’ll bring strong technical fund accounting expertise alongside the judgement and confidence to provide effective oversight and challenge rather than simply reproduce an administrator’s work.
• Experience of operating within an FCA regulated financial services firm.
• Fund accounting experience gained within an asset manager, asset owner, fund administrator or audit practice.
• Demonstrable experience of NAV oversight and challenging an outsourced administrator, rather than experience of NAV production alone.
• Knowledge of fund financial statements and external audit.
• Experience operating financial controls and evidencing those controls to auditors and regulators.

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

FCA experience

Fund accounting

NAV oversight

External audit knowledge

Financial controls

Education

ACA/ACCA/CIMA

Job description

Northern LGPS is seeking a Fund Control Manager to safeguard the integrity of fund-level accounting and oversee NAV quality across its external administrator. You will lead a technically capable function, challenge outputs, and drive robust controls within private markets accounting and regulatory reporting.

Reporting to the Head of Investment Operations, you will align with the Finance Director on fund-level vs corporate accounting, tax and regulatory matters, and lead a team of seven.