Director of Fund Administration, SBIC

LaSalle Network; Chicago (IL); Remote; USD 200,000 - 225,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

Job summary

LaSalle Network is seeking a Director of SBIC Fund Accounting to provide senior-level oversight and technical leadership for SBIC funds and related investment vehicles. You will manage day-to-day accounting, financial reporting, and investor reporting while ensuring compliance with SBA regulations and US GAAP.

The role requires hands-on SBIC fund accounting experience, strong client-facing skills, and the ability to lead a team of fund accounting professionals in an outsourced environment.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• 8+ years of fund administration experience.
• Direct and significant SBIC fund accounting experience is required.
• Strong understanding of SBA/SBIC regulatory requirements and reporting.
• Strong knowledge of U.S. GAAP and partnership accounting.
• Experience with complex investment accounting, including debt and equity investments.
• Experience reviewing financial statements and supporting fund audits.
• Demonstrated experience managing or mentoring fund accounting professionals.
• Strong client-facing and relationship management skills.
• Excellent written and verbal communication skills.

Responsibilities

• Oversee day-to-day accounting and administration of SBIC funds and investment vehicles.
• Provide technical oversight and review of fund accounting activities (capital/investment activity, fees, expenses, NAV).
• Review and approve monthly, quarterly, and annual fund financial reporting.
• Oversee preparation and review of financial statements and schedules per U.S. GAAP.
• Ensure accurate accounting for complex debt/equity investments and investor activity.
• Establish and maintain accounting procedures and internal controls for SBIC clients.
• Serve as SBIC accounting and regulatory subject‑matter expert for clients and teams.
• Lead client meetings with CFOs and fund managers; manage escalated issues.
• Lead and mentor fund accounting managers and staff; support hiring and development.
• Coordinate with auditors and tax advisors; ensure timely delivery of reports.

Skills

SBIC fund accounting

Fund administration

SBA/SBIC regulatory requirements

US GAAP & partnership accounting

Complex investment accounting (debt &

Financial statement review

Mentoring fund accounting staff

Client relationship management

Communication skills

Education

Bachelor's degree in Accounting or Finance

Job description

Our client, a leading fund administration firm, is seeking a Director of SBIC Fund Accounting to provide senior-level oversight and technical leadership for the accounting and administration of Small Business Investment Company (SBIC) funds and related investment vehicles.

This is a client-facing leadership position responsible for overseeing the delivery of high-quality fund accounting, financial reporting, investor reporting, and regulatory support services to SBIC clients. The Director will serve as a trusted advisor and SBIC subject‑matter expert, partnering closely with fund managers, investment professionals, auditors, tax advisors, and internal administration teams.

The ideal candidate will bring significant hands‑on experience with SBIC fund accounting and SBA regulatory requirements, combined with the ability to manage client relationships and lead accounting professionals in an outsourced fund administration environment.

Key Responsibilities

SBIC Fund Accounting & Administration

• Oversee the day-to-day accounting and administration of a portfolio of SBIC funds and investment vehicles.
• Provide technical oversight and review of fund accounting activities, including capital activity, investment activity, management fees, expenses, allocations, distributions, and NAV calculations.
• Review and approve monthly, quarterly, and annual fund financial reporting.
• Oversee preparation and review of financial statements and supporting schedules in accordance with U.S. GAAP.
• Ensure accurate accounting for complex debt and equity investments, portfolio company transactions, and investment realizations.
• Review partner capital accounts, allocations, contributions, distributions, and investor activity.
• Establish and maintain appropriate accounting procedures and internal controls for SBIC clients.

SBA & Regulatory Expertise

• Serve as the firm’s SBIC accounting and regulatory subject‑matter expert.
• Provide guidance to clients and internal teams regarding SBA/SBIC accounting and reporting requirements.
• Oversee preparation and review of SBA‑related financial and regulatory reporting.
• Stay current on changes to SBA regulations, accounting standards, and reporting requirements affecting SBIC funds.
• Support clients through SBA examinations, audits, and regulatory inquiries.
• Partner with internal compliance, tax, and accounting teams to resolve complex regulatory and technical accounting issues.

Client Relationship Management

• Act as a senior point of contact for assigned SBIC clients.
• Develop trusted relationships with CFOs, Controllers, fund managers, and other senior client stakeholders.
• Lead client meetings and communicate complex accounting and regulatory matters in a clear and practical manner.
• Proactively identify client needs and opportunities to improve accounting and administration processes.
• Manage escalated client issues and ensure timely resolution.
• Partner with business development and implementation teams when onboarding new SBIC clients.

Team Leadership

• Lead and mentor fund accounting managers, senior accountants, and accounting professionals supporting SBIC clients.
• Review work performed by accounting teams and ensure adherence to established quality and control standards.
• Provide technical guidance on complex SBIC accounting matters.
• Establish appropriate review processes and escalation procedures.
• Support hiring, training, performance management, and development of the SBIC accounting team.
• Help build scalable processes as the firm’s SBIC client base grows.

Audit & Financial Reporting

• Serve as the primary accounting contact during client audits.
• Coordinate with external auditors and tax advisors on financial reporting and technical accounting matters.
• Review audit deliverables and respond to auditor questions.
• Ensure timely delivery of annual financial statements and investor reporting.
• Assist clients with tax reporting processes, including coordination of K-1 preparation and related partnership accounting matters.

Process & Technology

• Identify opportunities to improve the efficiency, accuracy, and scalability of SBIC fund administration processes.
• Assist with implementation of new clients, accounting systems, and technology solutions.
• Develop standardized processes and controls for SBIC fund accounting.
• Identify opportunities for automation and process improvement across the firm’s SBIC platform.

Required Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• 8+ years of fund administration experience
• Direct and significant SBIC fund accounting experience is required.
• Strong understanding of SBA/SBIC regulatory requirements and reporting.
• Strong knowledge of U.S. GAAP and partnership accounting.
• Experience with complex investment accounting, including debt and equity investments.
• Experience reviewing financial statements and supporting fund audits.
• Demonstrated experience managing or mentoring fund accounting professionals.
• Strong client-facing and relationship management skills.
• Excellent written and verbal communication skills.

Preferred Qualifications

• CPA strongly preferred.
• Previous experience at a fund administrator, third‑party administrator, or outsourced accounting provider.
• Experience managing multiple fund clients simultaneously.
• Experience supporting SBA examinations or regulatory reviews.
• Experience with private equity, venture capital, mezzanine, private credit, or other alternative investment structures.
• Experience with fund accounting platforms and investor reporting systems.
• Experience onboarding new fund administration clients.

What We're Looking For

The ideal candidate is more than a strong accountant — they are a senior SBIC fund administration professional and client advisor.

They should have the technical depth to answer complex SBIC accounting questions, the leadership skills to oversee a team of fund accountants, and the client‑management skills to serve as a trusted partner to fund managers and CFOs.

SBIC experience is a non‑negotiable requirement. Candidates whose backgrounds are limited to traditional private equity, hedge funds, or general fund accounting without meaningful SBIC exposure will not be considered.

Key Details

• Compensation: $200,000 - 225,000 annually
• Benefits: Medical, dental, and vision insurance available
• Employment Type: Direct Hire
• Work Model: Remote

LaSalle Network is an Equal Opportunity Employer m/f/d/v.

All assignments are at‑will and their duration is subject to change.