Senior Fund Accountant - Private Capital - Associate
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BNP Paribas is the European Union's leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.
Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody network in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.
The UK Fund Services department is a high profile business area in the United Kingdom comprising of the following key operational areas:
• Fund Accounting Investment & Fund Services operations
• Fund Accounting Private Capital
• Investment Analytics & Data Services
• Corporate Trust Operations Loan & debt solutions
Private capital fund accounting within the fund accounting private capital team act as the guardians of all private capital funds owning delivery of fund valuation and accounting services ensuring that they are fully compliant with fund documentation, client SLA's, legal and regulatory requirements
To work as part of the Private Capital Fund Accounting team providing fund valuation and financial reporting services to private capital funds and underlying private capital fund vehicles ensuring that they are fully compliant with fund documentation, legal, regulatory requirements and accounting standards to which they are subject.
Ensuring that the provision of fund accounting & reporting services are aligned with the client SLA's, all internal and external deadlines are understood and met and all operational policies, procedures and checklists are followed.
To Liaise with auditors and other operational departments in delivering the suite of accounting information and financial statements applicable to private capital funds.
Key Responsibilities
Operational Excellence
• To prepare, review and analyse the monthly, quarterly, bi-annual and annual Financial Statements with supporting documentation under various accounting standards (i.e. IFRS, UK GAAP & US GAAP).
• To prepare monthly valuations, reconciliations of fund draw downs and distributions, accruals, expenses etc.
• To input double entry bookkeeping to the accounting system.
• To assist in the cash reconciliation and management for the Funds
• To prepare drawdown, equalisation and distribution calculations in accordance with the Fund documentation.
• To prepare Fund investor capital statements as required.
• To prepare Fund and investor IRR calculation as required.
Client Focus
• To attend client and audit meetings as required in relation to the provision of Financial Statements to investors.
• To liaise with various external and internal parties (e.g. client, external auditor, other BNP offices etc) in the day to day accounting of the Fund and other custom reporting and projects for specific investor needs.
• To liaise with internal and external auditors and assist with the year end/interim audit process via a monitored timetable and audit requirement list.
• Ensure understanding and compliance with client SLAs and internal delivery deadlines.
• Review/assist in planning and preparation of interim and final financial statements
Risk and control
• To provide input in relation to the review and monitoring of existing business process, procedures and checklists to maximise efficiency and productivity in the Private Capital Team.
• Support management in ensuring all checklists utilised in review and sign off clearly document controls and are kept up-to-date
• Timely escalation of any issues to management
Change
• To execute group project opportunities relating to the implementation of new systems or platforms and the appropriate operational procedures.
The Requirements
Essential:
• Excellent knowledge of US GAAP/UK GAAP/IFRS
• Experience within the financial services industry with knowledge of fund accounts preparation (preferable inclusive of private capital funds)
• Experience in managing and leading the external audit with minimal client/asset manager input
• Ability to draft and agree reporting templates with the client i.e. primary statements, supporting schedules and standard regulatory reporting
• Professional qualification in accountancy or significant relevant experience
• Good prioritisation & time management skills to deal with a high volume of time sensitive tasks quickly and appropriately
• Sound analytical and problem solving skills
• Good working knowledge of Microsoft Office Package with emphasis on Excel and Word
• To be a team player and to help and step in to assist other members of the team when required
• Good interpersonal and communication skills and able to deal with various parties both internal and external
• The ability to manage workload and to meet all deadlines
• Demonstrate motivation and ability to learn new applications and processes
Desirable:
• Strong working knowledge of various Private Capital fund structures (GP/LP/Feeder) and the accounting required for these structures
• Understanding of wider Private Capital industry standards and regulations
• Understanding of Luxembourg GAAP requirements
• Experience of working to tight deadlines and capable of working independently
• Experience of working in a multi- national environment
Equal Opportunities
BNP Paribas promotes equality of opportunity and is committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation.
As an employee with BNP Paribas, we want to make sure that you are rewarded for your commitment. As such, you will be entitled to our award winning benefits package which includes a generous holiday allowance of at least 34 days (including bank holidays), a non-contributory pension of 12%, private healthcare, GP service and dental cover all as standard, along with a number of personal insurances such as income protection, life assurance and personal accident insurance. We believe in ensuring all our employees have a positive work life balance so in addition you will also have accessto a variety of flexible lifestyle benefits such as cycle to work and green car leasing schemes, season ticket loans and reduced cinema and gym membership to name a few.
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