Fund Finance - Associate

iCapital, Inc.; Lisboa; Hybrid; EUR 35,000 - 55,000; Full time

Benefits offered by this job

Annual bonus

Equity

Health insurance (100% employer-paid)

Job summary

iCapital, Inc. is seeking an Associate to join the EMEA Fund Finance team. You will work hands-on with fund accounting and financial reporting for hedge, private equity directs, fund-of-funds and access funds, coordinating with third-party administrators.

In this role you’ll manage capital activity, investor statements, annual audits, tax deliverables, and support fund structuring. The position is based in Lisbon with hybrid work: four days in the office and one remote day per week.

Qualifications

• Bachelor's degree in accounting, finance, economics, or related field.
• 1–4 years in fund accounting, fund administration, or finance operations.
• Experience with alternative investment funds is a plus.
• Strong Excel skills and ability to work in a collaborative team.

Responsibilities

• Coordinate with third-party administrators for monthly valuations and GL entries.
• Maintain relationships with fund managers and distributors.
• Execute fund operations including capital calls and distributions.
• Review expenses and variances against annual budgets.
• Ensure profits, losses, and fees align with LPA/PPM.
• Support new fund structuring and feeder fund documentation.
• Monitor compliance with partnership agreements.
• Address ad hoc operational, accounting, and reporting requests.

Skills

Fund accounting

Advanced Excel

Financial reporting

Attention to detail

Teamwork

Verbal & written communication

Education

Bachelor's degree in accounting/finance

Tools

ERP systems

Fund accounting software

Job description

iCapital is looking to hire an Associate to join the EMEA Fund Finance team. This role is hands on with operational responsibility for servicing hedge and private equity directs, fund of fund and access fund vehicles (the funds) in conjunction with third-party administrators. This position will manage all fund accounting and financial reporting to investors, including capital activity, partner capital statements, annual audited financials, and tax deliverables.

Responsibilities

• Partner with third-party administrators to ensure timely completion of monthly valuations, accurate general ledger entries, and investment valuations in accordance with fair value accounting principles.
• Build and maintain relationships with underlying fund managers and distributors.
• Execute fund investment operations, including capital calls, distributions and underlying fund commitments, in coordination with internal teams and third-party administrators.
• Review fund expenses and accruals against approved annual budgets, identify variances or outliers, and propose appropriate adjustments.
• Review investor allocations to ensure profits, losses, and fees are calculated in accordance with partnership operating agreements.
• Review and oversee currency hedged share classes, including related calculations and reporting impacts.
• Support new fund structuring and onboarding by critically reviewing feeder fund draft documentation (LPA/PPM) and underlying fund operational questionnaires and providing feedback to internal Legal and Fund Origination teams prior to launch.
• Monitor fund compliance with partnership operating agreement terms and escalation of issues where required.
• Handle ad hoc operational, accounting, auditing, and reporting requests as they arise.
• Stay up to date with relevant policies and procedures, while contributing practical feedback and suggestions to improve operational processes.

Experience

• Bachelor's degree in accounting, finance, economics, statistics, or another business-related field
• 1-4 years of fund accounting, fund administration, or finance operations experience. A focus on alternative investment funds including fund-of-funds and feeder funds is preferred
• Big experience is a plus
• Advanced accounting skills and experience within an audit framework is preferred
• Advanced Excel skills
• Demonstrated capacity and willingness to work within a close team structure on all tasks
• Excellent organizational skills and attention to detail with ability to see the big picture
• Proven ability to multi-task and work both independently and as a team player in a fast-paced, demanding environment
• Strong verbal, written, and interpersonal communication skills
• Eager to learn new topics and work in an evolving business environment
• Passion for the application of innovative technology

We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office 4 days a week with the flexibility to work remotely 1 day ( Friday).

iCapital offers a comprehensive benefits package that includes a total compensation program consisting of competitive salary, annual performance bonus, and equity for all full-time employees; healthcare with 100% employer-paid health and dental insurance.