Lead Manager, Fund Accounting

Overview Of BNY Mellon

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.

Team Description

Private Equity / Credit Fund Accounting Group is a specialized team within the Alternative Investment Services Division of Bank of New York Mellon focused on providing fund administration services to our Private Equity clients. We operate from Hong Kong, India, Poland, Ireland and the United States. In the US, teams operate in New York, Boston, Los Angeles, Orlando, Wilmington, DE, Woodland Park, NJ and Fort Worth, TX.
 

We are a dynamic, collaborative team looking for individuals who value a supportive, but challenging and fast-paced environment.

We are looking for early career, mid-level and senior level candidates with fund accounting experience!

Job Purpose:

Our team is primarily responsible for: 

• Preparing capital call and distribution calculations in order, to facilitate capital funding requests from clients.
• Preparing and reviewing fund operating expense accrual budgets, as well facilitate wire instructions for vendor expense payments.
• Processing portfolio trade activity related to fund investments. 
• Preparing and reviewing a fund’s cash and asset reconciliation.
• Executing PNL allocations to Investors.
• Preparing and reviewing management and performance fee calculations.
• Coordinating the preparation of and reviewing investor notices and capital statements.
• Facilitating audit engagements on behalf of clients  
• Coordinating the preparation of unaudited or audited financial statements.    
• Facilitating onboarding of new clients and servicing existing clients.

Job Responsibilities:

• Provides oversight for multiple small teams or one large team of accountants responsible for conducting accounting services on behalf of assigned clients including determining net asset values, calculating fund performance, allocating expenses, and preparing reports.
• Manages the performance of teams and sets area priorities.
• Manages multiple teams in determining the net asset value (NAV) for assigned funds for each measurement cycle.
• Manages relationships with assigned clients and resolves any escalated issues related to fund calculations and accounting.
• Directs and sets priorities for processes that check for the completeness and accuracy of disclosure in financial statements.
• Provides guidance to teams managed to ensure that accounting records are maintained in accordance with departmental policies and procedures.
• Resolves escalated issues from team members.
• Evaluates GAAP and/or IFRS rules to determine impact of new regulations on BNY Mellon fund accounting practices.
• Provides guidance to teams on implementation of new policies to follow regulations.
• Directs the drafting of financial reports for clients to review fund performance.
• Communicates reports and accounting intricacies to clients.
• Recruits, directs, motivates and develops staff, maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues as a team.
• Leads working relationships with auditors and clients to make changes to financial reports and ensure they accurately depict fund performance.

Manages multiple small teams or one large team of accountants. Contributes to the achievement of team objectives

Bachelor’s degree in accounting or the equivalent combination of education and experience is required.5-7 years of total work experience and at least 0-1 years in management preferred.

Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.