Senior Fund Accountant

Amicorp Group; Wes-Kaap; On-site; ZAR 900,000 - 1,300,000; Full time

Job summary

Amicorp Group is seeking a Senior Fund Accountant to oversee NAV preparation, fund accounting records, and investor capital accounts for a portfolio of investment funds. The role emphasizes accuracy, timely NAV issuance, and collaboration with investors services and custodians.

The position requires experience in fund accounting and a strong understanding of NAV methodologies, with capabilities to monitor transfers, valuations, and regulatory requirements across funds.

Qualifications

• Strong numerical and reconciliation skills with high attention to detail.
• Excellent English fluency; clear written and spoken communication.
• Ability to manage multiple funds and tight reporting deadlines.
• Experience in fund accounting or asset management accounting is preferred.
• Experience with NAV calculations and investor capital accounting is beneficial.

Responsibilities

• Prepare periodic NAV calculations for assigned funds and maintain fund records.
• Process investments, subscriptions, redemptions, and capital calls; calculate allocations.
• Review NAV calculations for accuracy and support supervisory approvals.
• Record and reconcile investment positions, fees, and valuation inputs.
• Assist in preparing financial statements, investor reports, and auditor requests.

Education

Degree in Accounting/Finance

Tools

PFX Paxus

Job description

The Senior Fund Accountant position is responsible for the preparation and production of Net Asset Values (NAVs), fund accounting records, and investor capital accounts for a portfolio of investment funds administered by the organization. The role sits within the organization’s centralized fund accounting function, which performs the core accounting and reporting activities for multiple funds and jurisdictions. The position involves processing investment transactions, maintaining fund accounting books and records, preparing periodic NAV calculations, and supporting financial reporting for investment funds. As the NAV Checker, the position is responsible for reviewing and validating NAV calculations prepared by Fund Accountants, ensuring the accuracy, completeness, and integrity of fund accounting records before NAVs are released for supervisory approval.

PRIMARY DUTIES AND RESPONSIBILITIES

• Prepare periodic Net Asset Value (NAV) calculations for assigned funds.
• Maintain fund accounting records including general ledger, trial balances, investment registers
• Process accounting entries relating to investment purchases and disposals, realized and unrealized gains/losses, income accruals, expense allocations
• Calculate management fees and performance fees in accordance with fund documentation.
• Service fund clients to ensure timely and excellent delivery of services as agreed with each fund.
• Responsible for accurate and timely issuance of funds’ NAVs in line with prospectus, laws and regulations.
• Transaction monitoring and initiating investor payments and internal transfers for funds.

Investment Accounting

• Record and reconcile investment transactions including equities, debt instruments, private equity investments, structured products, derivatives where applicable
• Maintain investment schedules and valuation records.
• Reconcile investment positions with custodians, brokers, and counterparties.

Investor Capital Accounting

• Maintain investor capital accounts for each fund.
• Process subscriptions, redemptions, capital calls, distributions
• Calculate investor allocations of income, gains, and expenses.
• Prepare investor capital account statements.
• Constant monitoring of shareholder services to ensure up to date processing of subscription and redemptions, with timely completion of KYC/ AML checks.

Cash & Bank Reconciliations

• Perform periodic bank and cash reconciliations.
• Monitor fund cash balances and reconcile with fund accounting records.
• Investigate and resolve reconciliation differences.
• Record investment valuations in accordance with valuation policies.
• Maintain valuation documentation and supporting calculations.
• Process valuation adjustments for NAV purposes.
• Assist in the preparation of financial statements, investor reports, capital account summaries
• Preparation of financial statements, investor reports, capital account summaries, preparation of PBC items and liaison with Auditors.
• Support audit processes by preparing accounting schedules and responding to audit requests.

Operational Aspects

• Work closely with investor services teams, custody and treasury teams, legal and compliance teams, investment managers
• Ensure accurate processing of fund transactions and accounting records.
• Ultimately responsible for all aspects of fund accounting which include creation of security masters, trade processing, pricing, valuation, recording corporate actions, calculation of interest/dividend accruals, cash/position /dividend/coupon reconciliations, periodic accruals, calculation of management/ performance fees, equalization etc.
• Ensure that a Fund Accountant may not review or approve NAV calculations that they have prepared themselves for the same reporting period.

TIME RECORDING:

• Accurately record chargeable time and value of service using Maconomy, ensure effective monitoring of transactions, handle pricing, invoicing and collection of outstanding fees for the portfolio of clients.
• Monitor own productivity and chargeability on weekly basis and review productivity and performance against targets. to ensure that individual financial targets and client communication KPIs are met.
• Follow a disciplined approach to submitting timesheets for client work and meet the weekly and monthly time/ chargeability targets

The Fund Accounting Team Lead is responsible for managing NAV production for a portfolio of funds, overseeing the work of Fund Accountants and NAV Checkers, ensuring accurate and timely NAV delivery, and acting as the primary escalation and coordination point for operational issues.

NAV Review and Validation

• Review NAV calculations prepared by Fund Accountants.
• Verify accuracy of investment positions, income accruals, expense allocations, management and performance fee calculations, capital account allocations.
• Review NAV movement analysis compared to prior periods.
• Review reconciliations prepared by production accountants including bank reconciliations, custodian position reconciliations, investment reconciliations, capital account reconciliations.
• Investigate and resolve any reconciliation differences.
• Review pricing sources and valuation inputs.
• Validate fair value adjustments where applicable.
• Ensure valuation methodology is consistent with fund documentation.

Accounting Control Checks, Issue Identification and Escalation

• Ensure that accounting entries are properly recorded, supporting documentation exists for all material transactions, accounting treatments comply with applicable accounting standards.
• Identify unusual NAV movements or accounting inconsistencies.
• Escalate material issues to the Fund Accounting Supervisor.
• Support resolution of complex accounting queries.

Technical Guidance & Support

• Provide guidance to junior accountants on accounting entries, reconciliation processes, NAV preparation procedures.
• Assist in training new team members.
• Review audit schedules prepared by Fund Accountants.
• Assist in responding to auditor queries.

The NAV Checker reviews and signs off on NAV packs prior to supervisory approval. And does not issue final NAVs externally unless authorized.

CANDIDATE PROFILE

• Degree in Accounting, Finance, or a related discipline with - 12 years' experience in fund accounting, asset management accounting, fund administration
• Experience working with alternative investment funds preferred, including private equity, real estate, venture capital, hedge funds
• Knowledge of NAV calculation methodologies, investment accounting, capital account accounting, fund structures and investor allocations and accounting systems used in fund administration platforms
• Hands on experience in Fund Accounting, Investor Services (Registrar and Transfer Agent services), Fund Structuring and/or Fund Directorships. Good understanding of Fund regulations. Knowledge of PFX Paxus preferred.
• Strong numerical and reconciliation skills with high level of attention to detail.
• Ability to manage multiple funds and reporting deadlines.
• Effective communication, teamwork and client/ stakeholder engagement abilities.
• Proactive, practical, creative and solution driven with a positive, can-do attitude and ambition to excel in the role.
• Independent, hands-on and takes accountability to deliver solutions and results.
• Ability to adapt and work in a smaller, dynamic local team environment with tight deadlines; along with being part of a bigger matrix organization.
• Strong analytical and problem-solving skills, solution driven, highly organized and detail-orientated with good decision making and time management skills.
• Well-developed spoken and written communication skills and the ability to tailor style to relevant audiences and successfully liaise with people at different levels. Excellent English language fluency: additional languages preferred.