Manager, Fund Administration & Accounting; FA&A

Private Company Fund Administration & Accounting

Within the Global Investment Operations business unit at T. Rowe Price, our Private Company Fund Administration & Accounting (FA&A) department includes professionals with specific valuation, finance, and accounting expertise to operationally enable various T. Rowe Price investment vehicles to participate in investments of non-public illiquid investments on behalf of our clients.

Role Summary

Independently supports an assigned fund accounting, reporting and/or related oversight process(es), and/or assigned product(s), of medium complexity; may also support other product services. Responsible for completing multiple activities from start to close for assigned area and other more advanced ad hoc assignments, as needed. Will support oversight of third party fund administrators and review of fund accounting deliverables, including NAV packages, capital calls, distributions, expense allocations, management fee calculations, and investor reporting.

May review work of less experienced professional staff. Responsible for researching, applying and maintaining a working understanding of accounting and reporting guidance, company policies, regulatory and contractual requirements, and drivers that impact their assigned areas. Instructs service providers and provides technical advice on and interpretation of T. Rowe Price accounting and reporting policy. Leverages internal network with internal and external relationships to ensure integrated and high-quality responses to advanced stakeholder needs.

Responsibilities:

• In accordance with functional guidelines, performs a broad array of activities to support assigned complex accounting, reporting and/or related oversight activities; for assigned type(s) of products. Evaluates accuracy, completeness, and conformity to T. Rowe Price policies of data and deliverables from third-party service providers. Addresses complex issues and discrepancies with service providers, escalates more complex issues to senior team members and assists in resolution;
  
  may review the work of less experienced colleagues.
• Reviews quarterly, monthly NAVs and other deliverables prepared by third party fund administrators.
• Reviews capital calls, distributions, expense allocations, management fee calculations, waterfall calculations and investor reporting packages
• Works closely with third party administrator and internal stakeholders to support fund accounting, capital activity, investor reporting, and ongoing fund operations.
• Supports operational activities of private equity funds and co-investment vehicles throughout the fund lifecycle including fund launches, capital calls, distributions, investor reporting,, audits and service provider coordination.
• Provides other product support to governance committees, such as valuation, liquidity, disclosure, and service agreements; researches and recommends enhancements to support model and related reporting and processes; reviews and summarizes relevant matters and metrics for senior team members and management, actively participates in cross-departmental working groups on projects and/or to address ad hoc issues; reviews and provides input to policy documents and maintains internal educational materials.
  
  Supports complex functional compliance requirements.
• Researches and formulates proposed technical positions or tactics for applying accounting and reporting guidance, and contributes to design of related oversight controls, applying broad knowledge of internal controls, T. Rowe Price policies and products, relevant guidance and service standards; and drivers for assigned areas. Collaborates with peers to present proposed solutions for management consideration; assists in the training of internal teams and service providers on new policies as implemented.
  
  Identifies improvements to processes and controls, recommends solutions and presents to senior team members for consideration.
• Recognized as an internal resource for advice and guidance on technical accounting, reporting and/or related oversight matters and the application of relevant guidance. Leverages deep relationships with internal stakeholders and service providers to address and resolve advanced questions from internal and external stakeholders and/or provide advice on more complex issues.
• Often supports broad functional projects across products, lines of business, and geographies on behalf of management with ad-hoc analyses and advice and may provide some insights to strategic initiatives as requested.

Qualifications:

Required:

• Bachelor's degree in Accounting, Finance, or Business Administration or related field AND
• 5+ years of total relevant work experience AND

Preferred:

• Experience at an alternative fund administrator or CPA firm working on private equity funds strongly preferred
• Experience preparing or reviewing fund accounting deliverables including NAV packages, capital calls and distributions and ad hoc investor reporting strongly preferred

FINRA Requirements

FINRA…