Senior Fund Accountant

We are looking for talented and motivated individuals to join our client’s team as a Senior Fund Accountant in the Cayman Islands (Caribbean).

The Senior Fund Accountant will be responsible for the Fund Administration of complex investment funds including portfolio valuation and Net Asset Value (“NAV”) calculations; assisting with the preparation of financial statements; liaising with investors and investment managers as well as assisting with systems development and other ad hoc projects as required. In addition, other responsibilities will include client relationship management; new business integration and meeting the very tight reporting deadlines and demanding obligations of their clients.

Please note that the job location is the Cayman Islands and would be an on-site role. A relocation and work permit package would be provided.

Essential Functions

NAVs

• Review and understand the fund’s offering memorandum and verify that offering memorandum agrees to fund set up and ensure ongoing operations adhere to offering memorandum details.
• Liaise with investment managers, prime brokers and custodians in relation to trading activity as required for transaction processing and NAV preparation.
• Calculate the NAV for a portfolio of complex investment funds on either a weekly, bi-weekly, monthly, and/or quarterly basis as specified by the client and as outlined in the administration agreement, which includes, among other things:

1. Track all cash items whether portfolio-related, capital transactions or from non-portfolio and other income and expense items.
2. Perform three-way reconciliation of cash and assets/liabilities to the investment managers and custodians (frequency depending on trading activity of the fund.
3. Obtain independent third-party pricing support where needed (i.e. from Bloomberg).
4. Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations and the allocation of feeder-specific income and expenses.
5. Calculate and send out Estimated and Final NAV as required.

Client Relationship Management

• Liaise with clients, investors, investment managers and other stakeholders as needed.

Projects

• Participate in special projects.
• Assist with System Development.

Reporting

• Prepare monthly, quarterly and annual financial reports.

Audit

• Liaise with the fund’s auditors at year end and interim periods to ensure sufficient information is provided to facilitate the timely completion of controls testing and substantive work to the auditors’ satisfaction.
• Complete audit confirmation requests.

Capital Events

• Prepare allocations for fund investors.
• Prepare letters to be sent to the fund investors.

New Business

• Acquire or assist in new business conversions and reconciliation.

Financial Statements

• Assist in the preparation and review of fund audited financial statements.
• Understand fund agreements to determine impact on financial reporting.

Compliance

• Monitor and ensure that the AML checks are being carried out in accordance with the procedures and legislation in force. This includes compliance with performance of general administration relating to private equity funds.
• Respond to Investor due diligence requests.

Fees

• Calculate recurring fees as set out in various agreements (i.e. management & administration fee agreements).
• Process fees and expenses on behalf of the clients as directed by Administration Agreement and wire funds to third-party service providers such as lawyers and auditors.

Quality Assurance Testing

• Conduct quality assurance testing following defined practices and procedures.
• Conduct testing according to standards agreed upon by the employer and IT.
• Make recommendations for updates.

Other Responsibilities

• Other job functions as required.
• Performance of general administration relating to client funds.

Job Qualifications

• A university graduate with a professional accounting qualification (ACA, ACCA, CA, CPA, CGA, CMA or equivalent).
• Minimum 2 years’ experience in a similar role working with complex securities and derivatives products*.

*Candidates who are qualified (ACA, CA etc) and work at the Big Four in the UK or Ireland in the asset & wealth management team and have a minimum of 3 years of audit experience will also be considered.

Why the Cayman Islands?

• The Island is paradise - Cayman's Seven Mile Beach with its crystal water and white sand was ranked in Tripadvisor's 2020 annual travellers' choice awards as the number 6 beach in the World. The Island offers a huge range of activities from visiting the world-famous Stingray City, Bioluminescence Bay, diving, kitesurfing, surfing, deep sea fishing, numerous other water sports, an incredible array of top-quality restaurants and much more.

• A leading offshore financial services centre - Cayman is one of the world’s leading offshore financial centres and attracts best-in-class expertise to provide assurance to financial markets. The Cayman Islands is the leading domicile for investment funds. To put the size of the Cayman Islands' market share into context, based on statistics provided by the Division of Investment Management of the US Securities and Exchange Commission, approximately 70% of non-US domiciled funds managed by US-registered investment advisers are domiciled in the Cayman Islands.

• Fast-track career progression - Due to the mobile nature of the expat talent pool (where employees may work for a few years on the Island before returning home) means that you may have the opportunity to benefit from fast-track promotion and propel your career to the next level. Gaining asset management experience in the world’s leading financial services centres also looks great on your CV for future employment opportunities.

• Community - There is a big expat community in Cayman, particularly in the financial services industry. Each year a large number of accountants relocate to the Cayman Islands and it’s a fantastic opportunity to socialise and network with accountants from all across the world. BBQs on the beach, boat trips/parties, and sporting events such as beach volleyball and rugby are a normal part of everyday life in Cayman.

• Direct flights - There are direct flights to Miami (1 hour 30 minutes), New York (3 hours and 45 minutes), Cuba (1 hour and 10 minutes), Bahamas (1 hour 35 minutes), London Heathrow (11 hours), Jamaica (1 hour) and more providing opportunities to travel.

• Climate - Being located in the Caribbean, the Cayman Islands benefits from warm temperatures all year round between approximately 25-30 degrees.

• Tax Free - There is no income tax in the Cayman Islands, so you will receive your salary and bonus tax-free.

Confidentiality when applying

We act with absolute confidentiality and we completely understand that your current employer might not be aware that you're exploring the job market. When you apply, your application is kept completely confidential from both your current employer and also the hiring company. If we feel you might be a good fit, we'll arrange a call with you to chat through the opportunity in more depth. Only after the call will we request permission to share your CV with the hiring company.

Disclaimer: All personal information collected during the application process will be used for recruitment-related purposes only. Only successful applicants will be contacted.