Senior Fund Accountant (Cayman Islands)

Island Paradise Recruitment; Greater London; On-site; USD 70,000 - 90,000; Full time

Job summary

A leading recruitment agency is seeking a Senior Fund Accountant for a prestigious client in the Cayman Islands. This role involves managing fund administration, preparing financial reports, and liaising with clients. The ideal candidate will have a professional accounting qualification and experience with complex investment funds. This is an exciting opportunity to work in a vibrant expat community in a tax-free environment, offering a unique lifestyle and career advancement opportunities.

Benefits

Relocation Package

Tax-Free Salary

Qualifications

• Minimum 2 years’ experience in a similar role with complex securities.
• University graduate with a professional accounting qualification.

Responsibilities

• Responsible for Fund Administration and NAV calculations.
• Prepare financial statements and liaise with clients and investors.
• Assist with system development and special projects.

Skills

Fund Administration

Client Relationship Management

Financial Reporting

Education

Professional Accounting Qualification

Job description

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Director at Island Paradise Recruitment | Accounting & Finance Recruitment | Cayman Islands

We are looking for talented and motivated individuals to join our client’s team as a Senior Fund Accountant in the Cayman Islands (Caribbean).

The Senior Fund Accountant will be responsible for the Fund Administration of complex investment funds including portfolio valuation and Net Asset Value (“NAV”) calculations; assisting with the preparation of financial statements; liaising with investors and investment managers as well as assisting with systems development and other ad hoc projects as required. In addition, other responsibilities will include client relationship management; new business integration and meeting the very tight reporting deadlines and demanding obligations of their clients.

Please note that the job location is the Cayman Islands and would be an on-site role. A relocation and work permit package would be provided.

Essential Functions

NAVs

• Review and understand the fund’s offering memorandum and verify that offering memorandum agrees to fund set up and ensure ongoing operations adhere to offering memorandum details.
• Liaise with investment managers, prime brokers and custodians in relation to trading activity as required for transaction processing and NAV preparation.
• Calculate the NAV for a portfolio of complex investment funds on either a weekly, bi-weekly, monthly, and/or quarterly basis as specified by the client and as outlined in the administration agreement, which includes, among other things:
• Track all cash items whether portfolio-related, capital transactions or from non-portfolio and other income and expense items.
• Perform three-way reconciliation of cash and assets/liabilities to the investment managers and custodians (frequency depending on trading activity of the fund.
• Obtain independent third-party pricing support where needed (i.e. from Bloomberg).
• Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations and the allocation of feeder-specific income and expenses.
• Calculate and send out Estimated and Final NAV as required.

Client Relationship Management

• Liaise with clients, investors, investment managers and other stakeholders as needed.

Projects

• Participate in special projects.
• Assist with System Development.

Reporting

• Prepare monthly, quarterly and annual financial reports.

Audit

• Liaise with the fund’s auditors at year end and interim periods to ensure sufficient information is provided to facilitate the timely completion of controls testing and substantive work to the auditors’ satisfaction.

Capital Events

• Prepare allocations for fund investors.
• Prepare letters to be sent to the fund investors.

New Business

• Acquire or assist in new business conversions and reconciliation.
• Assist in the preparation and review of fund audited financial statements.
• Understand fund agreements to determine impact on financial reporting.

Compliance

• Monitor and ensure that the AML checks are being carried out in accordance with the procedures and legislation in force. This includes compliance with performance of general administration relating to private equity funds.
• Respond to Investor due diligence requests.

Fees

• Calculate recurring fees as set out in various agreements (i.e. management & administration fee agreements).
• Process fees and expenses on behalf of the clients as directed by Administration Agreement and wire funds to third-party service providers such as lawyers and auditors.

Quality Assurance Testing

• Conduct quality assurance testing following defined practices and procedures.
• Conduct testing according to standards agreed upon by the employer and IT.
• Make recommendations for updates.

Other Responsibilities

• Other job functions as required.
• Performance of general administration relating to client funds.

Job Qualifications

• A university graduate with a professional accounting qualification (ACA, ACCA, CA, CPA, CGA, CMA or equivalent).
• Minimum 2 years’ experience in a similar role working with complex securities and derivatives products*.

*Candidates who are qualified (ACA, CA etc) and work at the Big Four in the UK or Ireland in the asset & wealth management team and have a minimum of 3 years of audit experience will also be considered.

Why the Cayman Islands?

A Slice of Paradise:

Cayman’s Seven Mile Beach, with its crystal-clear waters and pristine white sand, was ranked #15 in TripAdvisor's 2024 annual Travellers' Choice Awards for the world’s best beaches. The island offers a wide range of activities, including visiting the world-famous Stingray City, exploring the Bioluminescence Bay, diving, kitesurfing, surfing, deep-sea fishing, and other water sports. You'll also find an impressive selection of top-tier restaurants and much more to enjoy in this tropical haven.

The Cayman Islands is a leading offshore financial centre, attracting top-tier expertise to support and assure financial markets. Cayman is the leading offshore domicile for investment funds globally, with approximately 70% of non-US domiciled funds managed by US-registered investment advisers based here, according to the US Securities and Exchange Commission.

Cayman is also a significant player in the insurance industry, holding the position as the second-largest domicile for captive insurance entities globally and one of the fastest-growing reinsurance domiciles in the world.

The dynamic nature of the expat workforce in Cayman provides unique opportunities for fast-track promotions. Employees often work for a few years before moving on, opening doors for career advancement. Gaining experience in asset management in one of the world’s leading offshore financial hubs is a valuable addition to any CV, offering a competitive edge for future career opportunities.

A Thriving Expat Community:

Cayman has a vibrant expat community, particularly in the financial services sector. Each year, a large number of accountants relocate to the Cayman Islands creating a fantastic environment for networking and socializing. Activities like beach BBQs, boat trips, and sporting events, such as beach volleyball and rugby, are part of everyday life in Cayman.

Seamless Travel Connections:

Cayman is well-connected with direct flights to major destinations, including Miami (1h 30m), New York (3h 45m), Cuba (1h 10m), the Bahamas (1h 35m), London Heathrow (11h), Los Angeles (6h), Toronto (4h), Denver (4h 30m), Panama (2h), Honduras (1h 30m), Jamaica (1h), and more—making it an excellent base for travel enthusiasts.

Tropical Climate:

Located in the Caribbean, the Cayman Islands enjoys warm temperatures year-round, typically ranging between 25°C and 30°C. The average sea temperature in the Cayman Islands is warm and inviting year-round, making it an ideal destination for water activities like swimming, snorkelling, and diving.

Tax-Free Living:

With no income tax, the Cayman Islands offers the opportunity to earn your full salary and bonus tax-free, allowing you to maximize your earnings.

Confidentiality when applying

We act with absolute confidentiality and we completely understand that your current employer might not be aware that you're exploring the job market. When you apply, your application is kept completely confidential from both your current employer and also the hiring company. If we feel you might be a good fit, we'll arrange a call with you to chat through the opportunity in more depth. Only after the call will we request permission to share your CV with the hiring company.

Disclaimer: All personal information collected during the application process will be used for recruitment-related purposes only. Only successful applicants will be contacted.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Accounting/Auditing and Finance

• Industries

  Financial Services, Venture Capital and Private Equity Principals, and Investment Management

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