Accounting Manager

OnHires; New York (NY); On-site; USD 90,000 - 140,000; Full time

Job summary

OnHires is seeking an Accounting Manager to lead fund accounting and client service delivery for venture capital, growth equity and private equity clients. The role focuses on end-to-end oversight of deliverables, collaboration with product development for automation, and maintaining strict regulatory compliance.

You will manage a team of fund accountants, oversee capital calls and LP reporting, and mentor staff to sustain high service levels.

Qualifications

• 3-7 years of fund accounting experience in venture capital, growth equity or private equity asset classes.
• 2+ years of experience hiring, training and managing a team of fund accountants.
• Bachelor’s degree in accounting or a related field.
• Interest in using AI/ML to solve complex problems.
• Experience scoping out system requirements and implementing new systems.
• Deep, practical experience with the investment lifecycle for VC, growth equity, and PE assets.
• Strong knowledge of fund management and regulatory/compliance practices.
• Experience with LPAs, LLC Operating Agreements, and other legal structures.

Responsibilities

• Oversee end-to-end client deliverables and communications.
• Generate accurate, timely fund administration deliverables and reports.
• Partner with Product Development to launch automation improvements.
• Ensure activities adhere to internal standards, controls and regulatory requirements.
• Compute waterfall distributions and capital calls per LPAs.
• Manage projects and teams to deliver excellent client service.
• Recruit, develop and supervise staff accountants.
• Oversee day-to-day operations with staff accountant and capital calls.
• Mentor and develop team members.
• Nurture trust-based relationships with clients.
• Provide thought partnership to general and limited partners.
• Handle client inquiries and opportunities.

Skills

Fund accounting

Team leadership

System requirements

GAAP knowledge

LPAs knowledge

Regulatory/compliance

AI/ML interest

Fund lifecycle knowledge

Client service

Education

Bachelor's degree in accounting or related field

Job description

Accounting Manager

What Impact You Will Own and Drive

• Fund Administration and Client Service Delivery: Responsible for end to end oversight and execution of all client deliverables and communications.

  • Fund Administration Deliverables: Generate accurate, fund administration deliverables in a timely manner, and consistent with the scope of work. This includes generating reports and overseeing deliverables produced by other members of the team.

  • Partner to Product Development Team: Identify, propose and help launch automation and systemization improvements.

  • Compliance: Ensure all activities adhere to Formulary's internal standards, controls and industry requirements (regulatory, legal, tax, audit).

  • Master Complex Calculations: Generate and perform rigorously review waterfall distributions and capital calls/contributions, verifying adherence to the Limited Partnership Agreements (LPAs).

• Project and Team Management: Ensure that the teams are operating effectively and efficiently to deliver excellent client service.

  • Team Build: Participate in recruitment, development, and supervision of the staff accountant.

  • Operations: In-charge of the day to day with the staff accountant, email traffic, capital calls, and inquiries.

  • Mentorship and Development: Serve as a coach to other team members.

• Client Service and Partnership: Nurture and maintain trust-based relationships with clients.

  • Thought Partnership: Identify opportunities to serve as a thought partnership to general partners and limited partners.

  • Client Communications: Serve as the first line of defense for all client inquiries, needs, and opportunities.

What You Need

• 3-7 years of fund accounting experience in venture capital, growth equity or private equity asset classes.

• Demonstrated impact at a leading fund administration services firm.

• 2+ years of experience hiring, training and managing a team of fund accountants, inclusive of managing a team of entry level fund accountants.

• Bachelor’s degree in accounting or a related field.

• A keen interest in using AI and machine learning to solve complex problems.

• Experience scoping out system requirements and implementing new systems

• Deep, practical experience with the entire investment lifecycle (from fund formation to fund dissolution) for venture capital, growth equity, and private equity asset classes.

• Strong knowledge of industry best practices for fund management and operations, including regulatory, tax, audit, compliance and other areas.

• Experience with Limited Partnership Agreements, LLC Operating Agreements, and other legal requirements. Understanding of traditional close-ended fund structures, SPVs, GP entities, blocker entities, parallel entities, and other investment structures (e.g. evergreen, master/feeder, and series fund structures)..

• Thorough understanding of GAAP (Generally Accepted Accounting Principles) and regulatory compliance, specifically as related to calculations and journal entries.

• Proficiency in preparing fund financial statements (Statement of Assets and Liabilities, Schedule of Investments) and comprehensive Limited Partner (LP) reporting, including capital account statements.

• Strong knowledge of tax, audit and compliance regulations and requirements.

• Experience with SOC 1 and SOC 2 controls to develop and maintain robust internal systems to ensure data security, operational reliability, and meet client audit requirements.

• Fluency with software solutions and openness to explore and adapt modern technologies and resources to deliver an enhanced and more efficient client service experience.

Extra / Bonus

• Demonstrated impact as a founding member of a fund administration services business.

• Experience in leveraging AI/ML to solve different problems in fund administration.

• Track record in achieving operational excellence and efficiencies through tech-enabled automation and systemization.

• CPA certification.