Associate/ Senior Associate, Fund Accountant

Cerberus Capital Management LP; New York (NY); On-site; USD 110,000 - 135,000; Full time

Job summary

Cerberus Capital Management LP in New York is seeking a fund accountant to support its Residential and Commercial Mortgage-Backed Securities investments. The role maintains books and records under US GAAP and collaborates with the Trading Desk, Operations, Tax, Legal, Investor Relations and Technology teams.

Responsibilities include preparing accounting entries, reviewing monthly books, calculating allocations and distributions, and coordinating with fund administrators.

Qualifications

• Bachelor’s degree in Accounting.
• 3-6 years of public or private accounting experience. CPA preferred.
• Experience with a wide assortment of financial products, including fixed income securities, equities, repos, and financial derivatives.
• Experience with fund accounting issues and fund structures with varying characteristics (open, hybrid, and closed ended funds), including capital allocation, waterfall, incentive allocation, and management fee calculations.
• Proficiency with AI tools and an understanding of how AI can drive process improvement preferred.

Responsibilities

• Accurately prepare and record accounting entries in accordance with firm policy and US GAAP.
• Review the monthly books and records prepared by fund administrators and internal reporting of fund profit and loss & returns.
• Review monthly allocations, management fee and incentive calculations and investor statements for accuracy.
• Calculate investor capital calls and distributions, track unfunded commitments and recallable distributions.
• Prepare internal and external deliverables including investor requests, regulatory reports, and ad hoc projections.

Skills

CPA preferred

Detail oriented

Excellent communication

Excel proficiency

Financial statement review

Education

Bachelor’s degree in Accounting

Tools

Data Warehouse

Alteryx

Sunguard VPM

Job description

Founded in 1992, Cerberus is a global leader in alternative investing with approximately $70 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.

Job Purpose:

Cerberus is seeking a fund accountant to support the firm’s Residential and Commercial Mortgage-Backed Securities investment strategies. Fund Accounting has a significant presence within the organization. The position will be responsible for maintaining the books and records of several funds in accordance with US GAAP. The role will also require frequent interaction and collaboration with several departments within the firm, including the Trading Desk, Operations, Financial Reporting, Tax, Legal, Investor Relations and Technology. The role will also require communication with several different teams across multiple fund administrators.

Responsibilities:

• Accurately prepare and record accounting entries in accordance with firm policy and US GAAP.
• Responsible for the timely and accurate review of the monthly books and records prepared by fund administrators, as well as internal reporting of both estimated and final fund profit and loss & returns.
• Review the completeness and accuracy of monthly economic allocations, management fee / incentive allocation calculations and investor statements.
• Responsible for calculations of investor capital calls and distributions, as well as accurate tracking of unfunded commitments, and recallable distributions for each investor.
• Prepare internal and external deliverables including investor requests, internal data requests, regulatory reporting requests and, from time to time, ad hoc projections of fund/investor data.
• Review payments/reimbursements for fund expenses and management fees and clear associated cash breaks
• Communicate regularly with third party administrators.
• Responsible for the review of quarterly unaudited and annual audited financial statements as well as annual footnote disclosures and financial highlights.
• Interact with Operations, Investor Relations, Legal, Tax, Financial Reporting and Technology to resolve process and accounting issues.
• Managing and modifying accounting/financial systems, procedures, and processes, as necessary.

Qualifications:

• Bachelor’s degree in Accounting
• 3-6 years of public or private accounting experience. CPA preferred.
• Experience with a wide assortment of financial products, including fixed income securities, equities, repos, and financial derivatives.
• Experience with fund accounting issues and fund structures with varying characteristics (open, hybrid, and closed ended funds), including capital allocation, waterfall, incentive allocation, and management fee calculations.
• Strong understanding of information systems, relationship tables, and the role data plays in efficient processes. Data Warehouse, Alteryx, or Sunguard VPM experience a plus.
• Proficiency with AI tools and an understanding of how AI can drive process improvement preferred.
• Team player and detail oriented.
• Must work well in a very dynamic and deadline driven culture.
• Excellent interpersonal, written, and oral communication skills.
• Proficiency with Microsoft Office Products (Excel, Word) required.
• Experience with financial statement review and presentations
• Technical Accounting experience (ability to understand and process complex Accounting transactions) a plus.

The base salary for this position is expected to be between $110,000.00 and $135,000.00. The base salary offered to the chosen candidate will be commensurate with a candidate’s relevant experience and other qualifications for the position, as determined by the Company in its sole discretion. In addition to base salary, this position is eligible for an annual discretionary bonus [which is often a meaningful portion of the compensation package], and a robust benefits package.