Lead Fund Controller, Private Markets

About the role

This is an exciting opportunity to join Wellington’s private investment-focused fund operations team dedicated to our rapidly expanding private equity business. Fund Control & Operations - Private Funds (“FC&O”) plays a vital role in Wellington’s private funds business and is responsible for fund operations encompassing fund accounting, treasury, and financial reporting. The team supports multiple vintages of Wellington’s private equity, private credit, and co-investment funds with over $9.1 billion in PE assets and growing. We are planning for the next vintages of our flagship private equity while also expanding our private credit offering and designing innovative solutions for the insurance and wealth channels.

Responsibilities

• Oversee the quarterly NAV and financial statement process for assigned funds, reviewing work prepared by our third-party administrator, including:
• Complex private portfolio company and/or private credit transactions
• Waterfall and carried interest calculations
• Tiered management fee arrangements
• Gross and net IRR calculations
• Ensuring accounting and presentation is consistent with U.S. GAAP and Limited Partnership Agreements
• Assist with the funds’ day-to-day operations, including:
• Planning and coordination of capitals calls and distributions, including reviewing calculations and notices produced by our third-party administrator
• Oversight of fund fees and expenses
• Cash and capital management and coordination of deal funding
• Oversee annual audit process for assigned funds, coordinating with fund administrator and auditors
• Contribute industry and operational knowledge to product development and new fund launches
• Help to enhance and expand the internal accounting and finance policies and procedures to ensure best practices are always being followed
• Assist Investment, Investor Relations, Tax, and Compliance teams, among others, provide information and data to respond to queries and perform ad hoc analyses based on the funds’ or investors’ activity

Qualifications

• Undergraduate degree in accounting or finance; completion or progress towards a CPA, CFA, or MBA is strongly favored
• 7+ years’ experience from an alternative investment firm, public accounting firm, and/or fund administrator
• 4+ years’ experience with private credit and/or equity fund accounting and operations
• Knowledge of partnership accounting, closed-end fund structures (closes, capital calls, distributions), fee structures (management fees, carried interest, claw back), and private equity and/or private credit investment transactions
• Proficient knowledge of US GAAP and ability to research and apply technical accounting and financial statement presentation rules
• Experience in one or multiple private asset classes (private equity, credit, real estate, infrastructure)
• Experience with a variety of complex fund structures, such as master-feeders and parallel funds, Luxembourg-domiciled private funds, warehouses, REITs, rated-note feeders, semi-liquid/evergreen structures
• Knowledge of open-ended fund structures, including series accounting, performance fees with highwater mark, dealing date cash flows a plus
• Knowledge of private investment valuation approaches, methodologies, and related guidance
• Advanced Excel skills are required; experience with or a desire to develop skills in Tableau, PowerBI, Alteryx is strongly favored
• A client service mindset and strong communication skills

Attributes

• Motivated work ethic and ambition to expand one’s knowledge, impact, and role
• Strong inclination to develop processes and enhance controls, identifying opportunities for efficiency and risk reduction
• Desire and ability to work in a fast-paced, team-oriented environment, performing multiple projects and balancing competing priorities
• Natural curiosity and ability to problem-solve, including researching technical accounting topics
• Strong intrapersonal skills and a collaborative nature
• Acute attention to detail and organizational skills