Fund Accountant

First Recruiting, LLC; Chicago (IL); On-site; USD 70,000 - 95,000; Full time

Job summary

First Recruiting, LLC in Chicago seeks an Associate to support the firm’s private credit platform. The role covers fund accounting across credit funds, quarterly closings, and investor reporting.

You will also handle end-to-end loan activity, including fundings, delayed draws, paydowns, and coordination with fund administrators, agents, and custodians. CPA or progress towards CPA is preferred and three years of experience are required.

Qualifications

• At least three years of prior experience in accounting or finance.
• Audit experience within financial services is preferred.
• Experience with loan accounting and/or private fund partnership accounting is advantageous.

Responsibilities

• Fund/loan accounting: prepare cash-related journal entries and fund-level financial statements.
• Prepare loan position and income reconciliations and work with third-party administrator to resolve variances.
• Prepare required footnotes to financial statements and management fee computations.
• Prepare capital calls and distributions, including fund waterfall calculations.
• Prepare deliverables for year-end financial statement audits.

Skills

Audit experience

Loan accounting

Finance/accounting experience

Private fund accounting

Education

Bachelor's or Master's in Accounting/Finance

CPA (preferred) or progress towards CPA

Job description

We are seeking an Associate for our Chicago office to support the firm’s private credit platform.

The position will be responsible for fund accounting across the firm’s credit funds, including quarterly closings, fund-level financial statements, capital calls and distributions, and investor reporting.

The position also involves the end-to-end processing of all loan activity, including new deal fundings, delayed draws, and paydowns, and coordination with the fund administrator, agents, and custodians.

QUALIFICATIONS:

• At least three years of prior experience
• Prior audit experience within the financial services group of a public accounting firm of recognized national standing; experience with loan accounting (interest accruals, amortization, etc.) and/or private fund partnership accounting is preferred
• Bachelor’s or Master’s in Accounting or Finance; CPA or progress towards preferred

Fund/Loan Accounting

• Prepare all cash-related journal entries
• Prepare loan position and income reconciliations and work with third-party administrator to reconcile any variances
• Prepare fund-level financial statements, including balance sheet, schedule of investments, income statement, statement of changes in partners’ capital and cash flows
• Prepare required footnotes to financial statements
• Prepare management fee computations
• Prepare capital calls and distributions, including fund waterfall calculation
• Prepare required deliverables for year-end financial statement audits

Loan Operations

• Facilitate the intake, review, and tracking of all loan-related notices, including interest and principal payments, lender consents, and amendments to loan agreements
• Coordinate with the investment team to support new deal funding, amendments, and paydowns
• Track and reconcile loan balances, interest accruals, and lender participations across funds and accounts
• Support weekly and monthly reconciliation between internal systems, agent notices, and fund administrator records
• Work with leverage providers and custodians to support capital calls, borrowing base updates, realizations, and funding requests