This is an opportunity for a qualified accounting candidate to join the largest department, within the largest fund administrator in Guernsey, thereby accessing a career path in the Private Equity space. The role will require the successful candidate to prepare, and assist in the preparation and initial review of the financial statements of entities administered by the Private Equity department in a timely, efficient and accurate manner adhering to the highest standards.
The role will also include final level review and oversight for certain outsourced client accounting functions which will involve liaising with other Northern Trust offices to ensure high standards of service are maintained.
Account preparation to include: Checking & maintaining ledger integrity, completion of appropriate checklists, closing down of accounting periods, preparing accounts for manager review/clearing points, sending accounts for inclusion in board packs, provision of information for US and UK tax returns; preparing standard account files and liaising with auditors as required
Outsourced account review to include: Ensuring outsourced jurisdictions maintain a high standard and accuracy in the accounting reporting, act as point of contact for the client, liaising with auditors as required
Client Reporting: Critical background knowledge of entities in progress; Issuing tax forms to investors prepared by client tax advisers; Able to prepare and issue ad-hoc reports to clients
Bookkeeping / Cash Management: ability to understand more complex transactions; understand cash management procedures for specific entities; familiar with checking bank account reconciliations and cash reports on a monthly basis
Company Secretarial duties including: understanding of procedures; prepare and review of company minutes and agendas
Proforma Accounts: design pro forma accounts, ensuring they are in accordance with appropriate regulations/standards and agreed with clients/auditors; Maintain capital accounts for limited partnerships
Communication: Liaising with other departments such as fund administration; maintenance of client relationships; effective communication with client, investors and other associated parties (based worldwide); dealing with investor queries in an efficient and timely manner
Prepare and circulate accounts and tax timetables, advising on potential accounting issues & best practises
Preparation and review of management fee calculations
Calls/Distributions: Develop understanding of the process; calculate the call/distribution amounts for recommendation by client; liaise with client and investors regarding receipt/payment of monies; liaise with financial institutions receiving or making payment of funds, and review and maintain records
Understand the process of the Transfer of Shares or Limited Partnership Interests, and be familiar with anti-money laundering regulations and how to maintain records
Responsible for ensuring accurate complex fund valuations, distributions, calls / drawdowns and other calculations
Prepare financial reports ensuring conformity to professional and regulatory requirements. To include the review and maintenance of client general ledgers, trial balances, preparation of quarterly accounts and capital statements for private equity funds. To prepare Annual Accounts for Funds, GP’s, LPs and SPVs.
Preparation of FRR and LRR calculations.
Liaise with Compliance and file any FRR or LRR breach notifications.
Research and prepare materials to support the development of new products or client opportunities
Work collectively with management to ensure first class delivery of professional and efficient service to clients.
Think outside the box to add value to the team and progress of direct reports.
Look at ways to improve services and find resolutions to issues.
Train and discuss accounting issues with Administration staff in order to ensure their understanding is sufficient to book-keep transactions appropriately within the team, with little supervision or need for amendment.
Ensure all procedures are kept up to date and are adhered to on a daily basis
Generate process and system enhancement ideas and co-ordinate the introduction of these changes, once approved by the department CSDM with supporting documented procedures
The ideal candidate will hold an accounting qualification (ACA or ACCA preferred) and have gained knowledge of regulatory issues, book-keeping and technical accounting such as UK GAAP or IFRS
Demonstrate knowledge of Guernsey Company Law, POI law, Partnership Law and compliance, regulatory issues and an ability to keep up to date with all changes
Confidence in communicating directly with clients and stakeholders
Advanced Excel Skills and knowledge on Investran would be an advantage
Excellent oral and written communication skills are required. The role will require the ability to deal confidently and articulately with internal and external counterparties
Analytical and problem solving skills are required
Leadership and organizational skills are needed to prioritize assignments and provide feedback to staff
Ability to set priorities and manage deadlines, escalating issues where necessary
Good team player, self-starter, flexible, with the ability to work under pressure with minimal supervision
About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent Families and individuals globally. With 130 years of financial experience and nearly 20,000 partners, we
serve the world’s most sophisticated clients using leading technology and exceptional service.
Working with Us:
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a Strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening
the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why Forbes ranked us the top employer for Diversity in 2018.
We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and ethical companies. Build your career with us and apply today.