ALTERNATIVE INVESTMENT SERVICESPSG PORTFOLIO ACCOUNTING OPERATIONS
This position will work specifically with the Alternative Investment Services (?AIS?) team in support of the Alternative Investment Partners (?AIP?) Investment Management Team. The AIP Team is responsible for portfolio management and client service for alternative investments strategies. The AIP Team currently manages 250+ investment vehicles that utilize a variety of alternative investment strategies and vehicle structures, predominantly in a fund of funds approach. Total net assets under management exceed $43 billion. The individual in this position will be responsible for operations and portfolio management support activities for the AIP Portfolio Solutions Group (?PSG?) fund vehicles and separately managed accounts, as well as other portfolios managed by Investment Management.
Responsibilities in this position will result in detailed knowledge of the portfolios, including investments in hedge funds (on a primary and secondary basis), private equity and real estate funds and co-investments (on a primary and secondary basis), and more liquid daily-traded fund investments and securities, as well as derivative investments, such as total return swaps, options, forward currency contracts, and other alternatives derivative-based products. This position will involve developing and maintaining relationships with investment team business stakeholders and with third party service providers to ensure proper support for the investment vehicles. This position will be located in the West Conshohocken, PA office.
RESPONSIBILITIES
?Actively monitoring portfolio investment and investor subscription and redemption activity for multiple PSG portfolios and custodian banks; ensuring satisfactory settlement of those transactions, including cash distributions and receipts; and developing significant levels of expertise of the holdings, terms, and transactions of multiple portfolios, in order to provide intuitive and proactive accounting oversight of these portfolios.?Providing regular daily portfolio, investment, and performance reporting and investment management support and responding to numerous ad hoc requests from investment management, investors and other internal and external stakeholders.?Overseeing third-party service providers in posting activity to the portfolios? general ledger and maintaining portfolio level activity in AIP?s investment book of record portfolio accounting system, Investran.?Ensuring the integrity of transactional and valuation data in Investran through the review of contract notes, capital statements and underlying fund correspondence, and working with the pricing team to resolve any transaction or valuation discrepancies. ?Reconciling transactions, valuations, management and performance fee calculations, P&L components, and other activity between Investran and the third-party service providers? records on a monthly or quarterly basis to ensure accuracy. Verifying accuracy of investor capital balances, NAV allocations, and capital activity on a monthly or quarterly basis. ?Reviewing daily cash reconciliations performed with multiple custodian banks and ensuring outstanding items are resolved on a timely basis. ?Preparing monthly performance reports for investment management and clients using valuations from underlying investments, cash balances, and derivatives valuations. Tracking email correspondence within the team?s group mailbox and escalating time sensitive correspondence to the appropriate internal parties. ?Performing monthly compliance reporting and highlighting instances in which there may be potential noncompliance with the portfolios? governing documents. ?Providing support for Fund, regulatory, and other audits; attending valuation committee meetings; assisting with preparation of materials for periodic board of director meetings; assisting with review of offering documents for new products and supporting other areas of product development, as needed.?Working effectively with third-party service providers and internal parties to ensure a high level of service for the portfolios; raising service issues in an appropriate manner and following up issues to resolution; creating or enhancing processes to improve the efficiency of the Operations and investment teams.?Assist the team on take-on, termination, and transition of new client or fund mandates, the review of client Investment Management Agreements (IMA), IMA amendments, and market registration status for their assigned strategies.?Actively own cash management function across assigned strategies and work with other firms, Trading team and external counterparties/custodians to ensure sufficient funds are available on settlement date.?Performing other related functions or responsibilities as needed or assigned.
REQUIREMENTS?Bachelor?s degree, or equivalent, in Accounting, Finance, or related business field. ?A minimum of three years of experience in operations is required; experience with accounting is preferred.?Knowledge of hedge funds, private equity, or fund of funds investment accounting or derivatives, or experience with Investran, is a plus. ?Strong organizational and analytical skills and the ability to effectively summarize findings, both verbally and in writing, in a clear and concise manner. ?Strong relationship management and communications skills.?Detail-oriented and highly motivated. ?Ability to work effectively with minimal supervision.