What are the responsibilities and job description for the Fund Accounting Associate, PEREI position at GCM Grosvenor?
SUMMARY
The individual will be responsible for performing certain fund accounting functions for Private Equity investment partnerships and accounts managed by the Firm.
GCM Grosvenor manages over $29 billion in private equity assets and has been investing in private equity since 1999. We are a leader in global middle market buyout investing and in sourcing and investing with small, emerging, and diverse managers.
As an onsite/hybrid employee, you are expected to be in the office on Tuesdays, Wednesdays and Thursday.
RESPONSIBILITIES
- Maintain the accounting ledgers for private equity funds and related investment vehicles.
- Review quarterly and annual valuations utilizing practical expedient.
- Review valuations and cash flows for co-investments.
- Review daily transactions including capital calls and distributions.
- Manage, monitor, and provide guidance to the outsourced operations providers.
- Oversee collection and collation of third-party documents, including assisting with automation efforts using advanced technologies.
- Assist in adaptation of operational technologies and retirement of legacy systems.
- Reconcile cash balances for current and expected cash flows.
- Facilitate and influence changes associated with the build-out of several new business processes.
- Review quarter-end receivables, payables, and foreign translation adjustments.
- Effectively work with other teams throughout the firm, including tax, legal, treasury, client services, etc.
- Support investment and client relationship personnel on ad-hoc requests.
- Facilitate the annual financial statement audit process with the funds’ auditors.
- Assist in special projects as requested.
EDUCATION, SKILLS AND EXPERIENCE REQUIREMENTS
- BA/BS in Accounting/Finance with outstanding academic credentials; applicable coursework or internship in the field of investments or financial markets.
- 3 - 5 years of experience working for a financial services firm or public accounting firm.
- CPA preferred.
- Accounting experience in managing private equity, hedge funds or similar types of alternative products is preferred, however, not required.
- Knowledge of partnership accounting as well as exposure to financial reporting, auditing, and tax. Private equity experience is preferred, but not required.
- Demonstrated team player; self-starter; independent thinker; excellent judgment.
- Positive mindset with an eagerness to learn and desire to build and improve processes.
- Proven ability to work in a fast-paced environment with a high level of flexibility, accuracy, and attention to detail.
- Ability to handle multiple tasks simultaneously.
- Good written and verbal communication skills.
- PC experience – advanced knowledge of MS Excel preferred, however, not required.
- Knowledge of SunGard Investran system is preferred, but not required.
