Fund Finance, CIT Funds - Assistant Vice President

iCapital Network; New York (NY); Hybrid; USD 110,000 - 145,000; Full time

Benefits offered by this job

Health insurance

401(k) match

Paid time off

Hybrid work schedule

Job summary

iCapital Network in New York is seeking a detail-oriented Fund Accountant to support the expansion of its CIT platform, focusing on alternative investments.

The role involves reviewing NAV packages, reconciling cash and positions, validating valuations, and assisting with SEC filings and annual audits. You will contribute to internal controls and collaborate with external providers while delivering accurate financial reporting.

Qualifications

• 5+ years of fund accounting or public accounting experience
• Experience with Collective Investment Trust (CIT) Accounting preferred
• Strong knowledge of investment company accounting under US GAAP
• Experience with registered funds ('40 Act and '34 Act) and SEC reporting (10-K, 10-Q)
• CPA certification preferred

Responsibilities

• Review monthly NAV packages prepared by third-party fund administrators.
• Reconcile cash, positions, and activity between the administrator and custodian.
• Validate portfolio valuations with GP data and independent valuation advisor.
• Recalculate management and incentive fees for accuracy.
• Review and approve fund-level expenses and accruals.
• Assist in preparing financial statements and SEC filings (10-K, 10-Q).
• Liaise with external auditors during the annual audit process.
• Draft and review Form 8-Ks for events such as subscriptions.
• Publish monthly NAV statements and investor fact cards.
• Oversee third-party tax provider to ensure timely delivery of K-1s.
• Compute proration factors for tender offers.
• Develop and maintain internal controls over financial reporting.
• Maintain SOC-1 report for the 34 Act fund servicing model.
• Identify and implement process improvements.

Skills

Fund accounting

US GAAP

Attention to detail

Team collaboration

CPA preferred

Job description

Fund Finance, CIT Funds - Assistant Vice President

New York, New York, United States

About the Role

iCapital is transforming the retirement investment landscape and is seeking a detail-oriented, analytical Fund Accountant to support the expansion of its Collective Investment Trust (CIT) platform, with a particular focus on alternative investments. This is a unique opportunity to join a fast-growing, entrepreneurial team that is redefining how alternative assets are accessed within retirement portfolios.

As a key member of the team, this individual will play an important role in maintaining the accuracy, integrity, and operational excellence of fund accounting processes that support innovative retirement investment solutions. The organization is enhancing existing approaches, driving the future of retirement investing through new structures, expanded access to alternatives, and a commitment to operational excellence.

Responsibilities

• Perform detailed reviews of the monthly NAV packages prepared by third-party fund administrators.
• Reconcile cash, positions, and activity between the administrator and custodian.
• Validate portfolio valuations to ensure they align with data provided by the GP and their independent valuation advisor.
• Recalculate management and incentive fees to verify accuracy.
• Review and approve fund-level expense payments and accruals.
• Assist in the preparation and review of financial statements and schedules for quarterly (Form 10-Q) and annual (Form 10-K) SEC filings.
• Act as a key liaison with the fund's external auditors, managing the end-to-end annual audit process.
• Support the drafting and review of current reports (Form 8-K) for events such as monthly subscriptions.
• Leverage iCapital technology to create and publish monthly NAV statements and fact cards for investors and distribution partners.
• Contribute to the oversight of the third-party tax provider to ensure timely and accurate delivery of investor K-1s.
• Calculate proration factors for oversubscribed quarterly tender offers.
• Assist in the development and maintenance of internal controls over financial reporting to comply with regulatory requirements.
• Contribute to the maintenance of our SOC-1 report to include the '34 Act fund servicing model.
• Identify and implement process improvements to enhance the efficiency and accuracy of the fund finance function.

Qualifications

• 5+ years of experience in fund accounting or public accounting with a focus on alternative investment management clients
• Experience with Collective Investment Trust (CIT) Accounting strongly preferred
• Strong knowledge of investment company accounting under US GAAP is required
• Experience with registered funds ('40 Act and '34 Act) and familiar with SEC reporting requirements (Form 10-K, 10-Q)
• Able to manage complex financial data with a commitment to being accurate and meticulous
• Demonstrated ability to work on a team and work effectively with internal partners and external service providers
• CPA certification is preferred

The base salary range for this role is $110,000 to $145,000. iCapital offers a compensation package which includes salary, equity for all full-time employees, and an annual performance bonus. Employees also receive a comprehensive benefits package that includes an employer matched retirement plan, generously subsidized healthcare with 100% employer paid dental, vision, telemedicine, and virtual mental health counseling, parental leave, and unlimited paid time off (PTO).

We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office Monday-Thursday, with the flexibility to work remotely on Friday.

iCapital is proud to be an Equal Employment Opportunity and Affimative Action employer. We do not discriminate based upon race, religion, color, national origin, gender, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

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