LP Analyst

Job Summary

The LP Analyst Intern will support the daily, monthly, and quarterly reconciliation of limited partner (LP) capital activity, including capital calls, distributions, and capital account statements, working closely with the Reconciliation team to help ensure timely and accurate reporting for fund investors.

Responsibilities

• Assist in comparing LP capital account data from external fund administrators and general partners against internal records to identify discrepancies.
• Support daily and monthly reconciliation of capital calls, distributions, and capital account balances.
• Investigate identified issues within the reconciliation system, seeking support from mentors and department experts as needed.
• Help build and maintain relationships with data providers, fund administrators, and internal stakeholders.
• Validate LP-related data against available third-party and fund administrator sources.
• Record and report the status of daily and monthly reconciliation delivery.
• Develop familiarity with internal tools and processes used for LP/fund reconciliation.
• Communicate effectively with internal and external parties to submit inquiries and provide timely status updates on relevant issues.

What You Will Learn

• Learns to use professional concepts and available resources within the Reconciliation department to problem-solve LP and fund-related discrepancies.
• Completes all initial new hire certification requirements and works on intermediate-level curriculum.

Technical Competency

• General Technical Skills: Developing skills in Excel and internal reconciliation tooling and report navigation.
• Accounting: Basic understanding of investment accounting, capital account statements, and fund-level accounting concepts. Basis agnostic.
• Finance: Basic understanding of capital calls, distributions, fund performance metrics, and related financial concepts.
• Asset Classes: Basic knowledge of alternative investment structures, including private equity, venture, and other limited partnership vehicles - what they are and how they are reconciled.
• Market: Beginning to understand and apply Clearwater's core value proposition (aggregate, reconcile, report) as applied to LP and fund data.

Functional Competency

• Developing acquired skills, procedures, and decision-making best practices to complete a variety of LP reconciliation issues, with guidance from mentors.
• Tooling Skills: Beginner to intermediate skills in standard reconciliation tools; familiar with routine tasks but may require assistance with more complex actions.
• Efficiency: Consistently completes assigned work. When errors occur, proactively learns from them and works to avoid repeat mistakes.
• Metrics: Manages workflow based on productivity and quality metrics as outlined by the business.

Intangibles

• Learning how to organize work and showing resilience in a challenging environment.
• Internal Communication: Applies Level 1 servicing (quick, accurate, thorough responses) with the aid of mentors. Sphere of influence mainly self.
• External Communication: Beginning to understand and apply Level 1 servicing with the aid of mentors, typically with low- to mid-level external stakeholders such as fund administrators and data providers.

Leadership

• Oversight: Operates with some level of assistance from team members. Independently answers low-medium complexity queries; may require assistance with medium/high complexity.
• Continuous Service Improvement: Primary focus is learning. Applies company policies and procedures to resolve issues and navigates knowledge base and documentation.

Requirements

• Excellent verbal and written communication skills.
• Strong organizational and interpersonal skills.
• Strong accounting and/or finance skills.
• Strong problem-solving and math skills.
• Strong computer skills, including Microsoft Excel.
• Working towards a bachelor's or master's degree in accounting, finance, or a related field.
• Desired full-time employment at Clearwater.