Associate Director, Fund Accounting

Key Responsibilities

• Perform the day-to-day accounting for private equity funds and related investment vehicles.
• Review quarterly and annual NAV and financial statement packages, include investor reporting.
• Manage recurring client deliverables and additional client-requested reporting.
• Manage, monitor, and provide guidance to the outsourced accounting provider(s).
• Assist with the calculation of quarterly management fee and carried interest waterfall calculations.
• Manage the funds' cash balances to determine the need for capital calls, distributions, and redemptions.
• Review and assist with capital call and distributions notices to investors.
• Collaborate with other teams throughout the firm, including legal, client services, portfolio management, etc.
• Support investment and client relationship personnel on ad-hoc requests.
• Assist in special projects as requested.
• Oversee the wind down and termination of any funds.
• Assist with the coordination, management and completion of the annual audits of each fund.
• Assist with completion of annual federal and state tax returns and K-1 distribution for each fund.
• Establish and enforce proper accounting methods, policies and principles.
• Assist with maintenance of fund portfolio accounting software, internal controls and process improvement as needed.

• Bachelor's degree in Accounting is required; CPA preferred.
• 3+ years of experience in accounting, preferably working in public accounting, financial markets and/or with financial products.
• Accounting experience in managing private equity, hedge funds or similar alternative products is strongly preferred.
• Knowledge of partnership accounting and exposure to financial reporting, auditing, and tax. Private equity experience is strongly preferred.
• Experience auditing or preparing financial statements for investment funds.
• Experience reviewing underlying investments to determine fair value.
• Financial acumen to understand the underlying investments in each fund.
• Strong communication skills, written and verbal.
• Technical accounting knowledge including GAAP and curiosity to research and work with subject matter experts.
• Familiarity with partnership tax returns and K-1s.
• Understanding of internal control environments.
• Strong drive to create efficient and organized processes to ensure deadlines are met.
• Ability to establish and maintain effective working relationships with all levels of management and staff.
• Detail-oriented with strong analytical skills.
• Service-oriented.
• Advanced proficiency in Microsoft Excel.
• Strong organizational skills: ability to work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced environment.

At Cresset, we focus on people first. As a service business, our people are our assets. Engaging our clients and employees is our highest priority. Salary will be based on factors including, but not limited to, experience, licenses/certifications, industry knowledge, and geographic location. Cresset offers a competitive compensation package including an annual incentive and a benefits package to all full-time employees including medical, dental, vision, life insurance, 401(k) retirement plan, health savings accounts, short- and long-term disability insurance, voluntary critical and accident insurance, and pre‑tax parking and transportation programs.

Aligning employee and organizational interests, all employees receive equity in Cresset.

It is the policy of Cresset to ensure equal employment opportunity (EEO) for all employees and applicants for employment without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, or related conditions), national origin or ancestry, age, disability, veteran status, uniformed service member status, sexual orientation, gender identity, status as a parent, genetic information (including testing and characteristics), or any other characteristic protected by applicable federal, state, or local law.

It is Cresset’s policy to comply with applicable laws concerning the employment of persons with disabilities, including reasonable accommodation for applicants and employees with disabilities.