What are the responsibilities and job description for the Vice President, Fund Accounting position at Ares Management Corporation?
Over the last 20 years, Ares' success has been driven by our people and our culture. Today, our team is guided by our core values - Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy - and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.
Job Description
The Ares Secondaries team specializes in secondary market transactions of private equity, real estate, credit and infrastructure investments with AUM of approximately $27 billion as of September 30, 2024. The team is currently looking to hire a Vice President to join our dynamic Finance team of approximately 60 professionals located in our West Hartford, CT, Boston, MA and New York, NY locations.
Responsibilities include :
- Supervise and develop staff at all levels with demonstrated ability to work with others through challenges and career development while providing ongoing training and feedback.
- Day-to-day oversight for numerous funds. Fund structures may include master-feeder structures, open-ended structures, closed-end structures in various countries including the U.S., and Luxembourg.
- Regularly review effectiveness of current processes and workflow, while proposing and implementing improvements.
- Manage quarterly close processes, including review work of accounting staff and third-party administrators, along with producing original workpapers and analyses.
- Review of quarterly and annual GAAP financial statements and footnote disclosures for multiple funds as well as capital account summaries for limited partners.
- Review calculation of performance fees / waterfall calculations.
- Review regulatory compliance filings (e.g. Form ADV, Form PF, SLT, etc.)
- Review cash flow projections and daily cash management, including activity on credit lines, expected settlement timing of purchases and underlying investment cash activity, and timing of investor capital calls and distributions.
- Monitor compliance with the Fund's governing documents (e.g. Limited Partnership Agreement, Investment Management Agreement, investor side letters, etc.) and credit facilities, as applicable.
- Prepare and assist with ad-hoc limited partner reporting, analysis and other requests.
- Review and understand complex fund terms, vehicles, and structures.
- Coordinate cash management with accounting team, investment team and portfolio management.
- Review investor capital call and distribution calculations, and quarterly management company deliverables.
Qualifications :
General Requirements :
Reporting Relationships
Chief Accounting Officer, Secondaries
Compensation
The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.
170,000 - $210,000
The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical / Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.
Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.
There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.
Salary : $170,000 - $210,000
