Fund Controller Job Description
Fund controller
provides fund accounting, tax compliance and outsourced CFO (Chief Financial Officer) services to clients, including conducting financial reporting and tax accounting per GAAP and GAAS for Investment Companies, Endowments, Families, Investment Funds and Registered Investment Advisors.
Fund Controller Duties & Responsibilities
To write an effective fund controller job description, begin by listing detailed duties, responsibilities and expectations. We have included fund controller job description templates that you can modify and use.
Sample responsibilities for this position include:
Fund Regulatory filings, requests and inquiries - review and provide input to all Fund-related regulatory filings, participate in efforts to respond to regulatory requests and inquiries related to the Funds
New products/change to existing products - evaluating all aspects of proposals (e.g., prospectus language, trading/operational model, distributions, expense structure, ) to identify solutions to launch/modify the product
Financial reporting and disclosure controls - review and sign off of Funds' financial statements and regulatory filings
Prepare financial information for regulatory reporting, including Form PF and Form ADV
New products/change to existing products - evaluating all aspects of proposals (e.g., fund documents, trading/operational model, distributions, expense structure, ) to identify solutions to launch/modify the product
Preparation of the quarterly Portfolio Valuation Memo for submission to the Regional Valuation Committee7
Manage Real Estate and Private Equity operations
Report to Head of Operations
Management of fund / share class launches and closures, other initiatives
Prepare monthly flash estimates and mid-month flash estimates for management and investors and preparing commentary and analysis of drivers
Fund Controller Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Fund Controller
List any licenses or certifications required by the position: CPA, CFA
Education for Fund Controller
Typically a job would require a certain level of education.
Employers hiring for the fund controller job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Finance, Education, Real Estate, Business/Management, Business, Economics, Graduate, Foundation, Administration
Skills for Fund Controller
Desired skills for fund controller include:
Accounting and financial reporting perspective
Operational
Regulatory
Various Fund structures and activities from an investment
IFRS
International Financial Reporting Standards and U.S. GAAP
U.S. GAAP
Languages being considered as an asset
Word and Excel
Desired experience for fund controller includes:
Knowledge of GAAP and ASC pronouncements
Working knowledge of Excel(v-lookups and pivot tables required)
Calculate management and incentive fee calculations for all funds and managed accounts, review of fund expense process
Maintain shadow books and records and investor allocations
Coordinate between the front office, operations, and fund administrator to ensure appropriate treatment of firm financial information
Take ownership of processes and assigned tasks
Fund Controller Examples
1
Fund Controller Job Description
Job Description Example
Our growing company is hiring for a fund controller. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for fund controller
- Prepare of regular and ad hoc financial information for external investors
- Daily monitoring of the funds’ fund-of-fund and private equity investments
- Daily pricing of the portfolio based on external manager estimates and NAV statements
- Monitoring capital calls and distributions, fund expenses and fees
- Coordinating with the funds’ middle and back office third party administrator to ensure accurate reporting
- Reviewing the fund-of-fund and private equity investments’ impact on monthly Tradable NAV, which involves a high level of oversight and review
- Ensure the timely delivery of accurate GAAP-based financial statements to fund investors
- Review all applicable legal documents for understanding of all arrangements that impact the financial reporting for the investments and the funds
- Manage accounting responsibilities with respect to the models maintained for the funds and their investments
- Maintaining the internal profit and loss and AUM files
Qualifications for fund controller
- Experience in Investment/Fund/Financial Services Industry
- 2+ years in supervisor role with direct reports - leadership & mentoring skills
- Experience in annual budgeting and planning, cash flow projections, accounting policies and procedures
- Fund investment and related activities (75% of the job)
- 2 to 4 years of Product Control experience in Investment Bank or Investment Management
- Strong product knowledge in Rates products, Credit Products, Equity, FX and Securities
2
Fund Controller Job Description
Job Description Example
Our growing company is looking for a fund controller. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for fund controller
- Assisting with the review of the monthly NAV package prepared by the administrator
- Assisting the firm's Controller with the interim / year end audit and tax process for the firms funds
- Manage the month end close process - forecast, ledger close and understanding of actuals vs
- Review fund expense ratios and make sure they are in line with the projected budget
- Lead tactical and strategic projects, including the launch of new funds, adoption of new regulations, implementation of new systems and services, continuous improvements
- Set and drive the controller agenda for relevant areas within CFS APAC working closely together with other finance teams other groups, incl
- Participate in monthly close activities including but not limited to review of financial data, investigating significant variances and transactions, fluctuation analysis, preparation of financial reporting deliverables, preparation of estimate accruals, entry processing, perform reconciliations and general ledger substantiation
- Responsible for the month end close process for NAMR - forecast, ledger close and understanding of actuals vs
- Interact with the funds’ Administrator to ensure quarterly financial reporting is complete, accurate and timely (includes reporting of Level 3 fair value marks)
- Product the funds’ quarterly investor presentations with particular focus on performance reporting (IRR, GIPS & yield calculations)
Qualifications for fund controller
- CPA is a plus not a must
- Accountancy qualifications
- Investment partnership and fund accounting experience required
- Experience with project management delivery principals/methodologies a plus
- At least 5 years' experience in an asset management finance role, either in the asset management practice at a top accounting firm or in-house as previous COO or CFO of a boutique fund manager
- Asset management industry awareness and industry contact network
3
Fund Controller Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of fund controller. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for fund controller
- Manage the annual audit process with the funds' Auditor and Tax Preparer
- Manage capital calls & fund closings with the funds' Administrator
- Review and approve all individual investor statements
- Recommend, develop and document new procedures and systems to improve operating and accounting efficiency of the department
- Lead/participate in projects and working groups on risk related topics and developments
- Daily valuation of OTC derivatives, including complex structured products
- Daily monitoring and management of collateral positions
- Monitor investment compliance with legal requirements, prospectus, internal policies and guidelines
- Review financial statements, ensuring accordance with US GAAP
- Fund accounting and reporting
Qualifications for fund controller
- 2-5 years’ experience in investment partnership and fund accounting experience required
- Audit and financial reporting experience or fund administration experience preferred, CPA a plus
- Knowledge of global multi-asset markets, products and processes a plus
- Must be able to effectively manage a team to ensure completion of company objectives
- 3+ years of experience out of a Hedge Fund, Hedge Fund Administrator, and/or Public Accounting firm
- Previous experience with Hedge Fund Accounting, Net Asset Value, and Month-end Close
4
Fund Controller Job Description
Job Description Example
Our company is growing rapidly and is looking for a fund controller. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for fund controller
- Capital allocations
- In charge of the complete month-end close activities
- Review and analyse fund profit and loss accounts on a daily basis based on market moves and risk sensitivities of the products
- Calculate Net Asset Value (NAV) of funds on a daily, weekly and monthly basis and validate accrued income and expenses
- Take on a leadership role within the team to manage issues, deliver change and grow the remit and expertise of the team
- Understand full front to back process to add value beyond the core middle office accounting remit
- Manage the forecasting process on BS and Capital reporting for Global CFS
- Perform and review Capital computations across multiple binding constraints for the products covered by the Global CFS business
- Investigate and explain business drivers underpinning significant movements in BS and Capital for senior management, LEC’s, Corporate Reporting, CIBT, front office
- Implement and own a new BS governance process in close partnership with the front office
Qualifications for fund controller
- Good communication skills – ability to tailor style and content as appropriate
- College degree (MBA/CPA preferred)
- Hedge Fund or Fund of Funds Experience
- Strong Understanding of Financial Analysis and Accounting Principles
- Public accounting experience (2-3 years minimum)
- 3+ years’ experience in real estate investment accounting - Fund level and property level
5
Fund Controller Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of fund controller. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for fund controller
- Manage relationship with third party fund administrator and auditor managing year end tax and audit process flow
- Represent the accounting department on the internal pricing committee that manages internal pricing standards
- Maintain key schedules, including capital schedules, preferred return & interest calculations and fund waterfalls
- Start-up and Pre-launch
- Fund structuring
- Fund and Partner Accounting
- Preparation of Fund Financial Statements
- Preparing partner capital account statements
- Coordinating and supporting the financial statement audit
- Cash management and operations
Qualifications for fund controller
- Strong GAAP accounting background
- Tax familiarity desired
- Yardi Voyager software experience preferred
- Professional, detail oriented self starter and team player that is able to work well independently, with others
- Practical understanding of private equity and hedge fund mechanics
- 3+ years of real estate investment accounting experience