Controller & Financial Operations Principal (FinOp)

Karmel Capital; Solana Beach (CA); On-site; USD 150,000 - 200,000; Full time

Benefits offered by this job

Medical benefits

Dental benefits

Vision benefits

Paid time off

Paid holidays

Discretionary annual bonus

Job summary

Karmel Capital in Solana Beach, California, seeks a Senior Controller to manage fund accounting and serve as the Financial and Operations Principal. Responsibilities include overseeing fund-level accounting, management company finances, and broker-dealer operations.

The ideal candidate will have extensive experience in fund accounting and partnership taxation, along with strong organizational skills. A detail-oriented approach is essential for success in this high-ownership position, which includes a competitive salary and benefits package.

Qualifications

• Active FINRA Series 27 license with 2+ years registered.
• 5+ years of fund accounting experience at a private equity or venture capital firm.
• Hands-on experience managing fund audits with outside firms.

Responsibilities

• Serve as the registered Financial and Operations Principal owning FOCUS reporting.
• Manage fund accounting across a portfolio, including capital calls and distributions.
• Own the management company accounting end-to-end.

Skills

Financial and Operations Principal

Fund accounting experience

Partnership taxation knowledge

Audit management

Detail-oriented

Organizational skills

Communication skills

Collaboration skills

Education

Bachelor's degree in Accounting, Finance, or related field

CPA preferred

Job description

Company Description

Karmel Capital Management LLC is a San Diego–based alternative investment management firm founded in 2013. The firm manages dedicated funds focused on AI infrastructure and enterprise technology and software companies, investing through direct secondary transactions and selected primary rounds. Its leadership team combines deep investing and operating experience in technology, with founding partners who have invested together for over a decade. Karmel Capital is registered with the U.S. Securities and Exchange Commission as an investment adviser. Karmel Capital has entered a high‑growth phase and is hiring a dedicated Controller to own fund accounting, management company finances, and broker‑dealer financial operations.

Role Description

This is a senior, high‑ownership position. You will be the financial backbone of the firm, responsible for fund‑level accounting across our portfolio, the books of our management company, and serving as our registered Financial and Operations Principal for a new broker‑dealer we are planning to launch. You will work directly with the managing partners, third‑party fund administrators, and our outside audit and tax firms. This position is located at the company headquarters in Solana Beach, California.

What You Will Do

• Serve as the firm's registered Financial and Operations Principal (Series 27), owning FOCUS reporting, net capital compliance, and broker‑dealer financial recordkeeping for a new broker‑dealer that we are forming.
• Manage fund accounting across a portfolio of multi‑asset funds and single‑purpose investment vehicles: capital calls, distributions, carried interest waterfall calculations, quarterly NAV statements, annual audits, and annual tax reporting.
• Own management company accounting end‑to‑end, close, reporting, budgeting, and cash management.
• Run the annual audit process with outside audit firms, owning timelines, PBC lists, and on‑time delivery.
• Manage outside tax firms through K‑1 preparation and delivery, including review of partnership allocations and distribution treatment.
• Support distributions in kind from partnership vehicles, including analysis under the IRC §731(c) investment‑partnership rules.
• Build scalable processes and systems as the firm grows.

Qualifications

• Active FINRA Series 27 license with 2+ years registered as a Financial and Operations Principal.
• 5+ years of fund accounting experience at a private equity or venture capital firm (or fund administrator serving PE/VC clients).
• Hands‑on experience managing annual fund audits with outside audit firms.
• Deep familiarity with partnership taxation and K‑1s, working alongside outside tax preparers.
• Knowledge & desire to own management company accounting in addition to fund‑level work.
• Bachelor’s degree in Accounting, Finance, or a related field;
• CPA preferred.
• Detail‑oriented with strong organizational, communication, and collaboration skills, and the ability to operate effectively in a lean, entrepreneurial environment.

The expected base salary range for this position is $150k to $200k annually. Actual compensation will be determined based on experience and qualifications. This position is also eligible for a discretionary annual bonus based on individual and company performance. Full‑time employees are eligible to participate in the company’s benefits programs, including medical, dental, vision, paid time off, paid holidays, and other benefits, subject to the terms of the applicable plans.

*Karmel Capital is an equal opportunity employer. The compensation listed is the good‑faith base salary range for this position, as required by California law; the final offer depends on experience and qualifications.