Manager Private Equity Operations

Overview

The Manager, Private Equity Operations, is responsible for all daily operational aspects of the Private Equity business line, including reporting, fund administration and operational functions. Reporting and fund administration responsibilities include reviewing the quarterly report production process, monitoring and managing fund cash needs, and implementing processes necessary to launch new funds, create new products and grow the private equity business. Operational responsibilities include ensuring timely processing of all capital calls and distributions made by the funds'' underlying investments as well as those by the funds to their limited partners. Oversees all reconciliations between Private and the underlying funds. Calculates and reviews net of fee IRR calculation and public market equivalent performance calculations. Ensures adequate controls are in place and being followed relating to the wiring of money and reconciliation of bank accounts. Provides primary supervision, training and career development for direct reports.

Responsibilities

What you will do:

• Works closely with Director, Private Equity and Reporting, on various special projects, such as integration of new acquisitions and ongoing evaluation of internal controls.
• Assists in all internal audit, GIPS, SEC and NASD examinations as needed.
• Works with other areas within the Enterprise (i.e., Investment Accounting, Cash Management) to ensure smoother transfer of information.
• Private Equity:Fund Administration/Monitoring: Manages operational aspects of new fund launches, including providing reporting to prospects, managing the data room and understanding the nuances of each new fund. Plays a lead role in cash needs of each fund, including recommending usage of the lines of credits and when to call or distribute capital. Implements fund monitoring functions related to operations; including sourcing, loading and tracking data to provide investment managers to enable them to effectively manage their investments. This includes identifying system and resource requirements. Works with senior Private Equity management to develop new products and offerings, including developing operational launch strategy and identifying systems and resource needs. Effectively manages fund wind-downs, including limited partner notification, coordination with purchasing entity and facilitating money movement. Reviews and ensures all new Limited Partnership Agreements address essential accounting, operational and administrative issues prior to final execution. Ensures efficient processing of document execution and changes relating to the Limited Partners of the Private Equity Partnerships.
• Reporting: Oversees the production and distribution of quarterly reporting packages for all Private Equity Funds (20). includes managing the process/schedule of events and writing the quarterly letters. Creates content and manages execution of critical PE meetings with investors and prospects, including annual meeting advisory boards, RFPs and consultant presentations. Ensures all reporting and filing requirements with Limited Partners are met by reviewing Limited Partnership Agreements and contracts and creating/maintaining operational schedules for each fund. Completes net of fee IRR calculation and public market equivalent performance calculations. Creates customized calculations based on client and consultant needs. Creates customized reporting for all separate account mandates to demonstrate effectiveness of program. Performs ad-hoc performance and cash flow reports from the product group and/or clients. Designs/develops reports for new funds formed by the private equity team. Coordinates, reviews and approves all fund financial managing the timeline of the process
• Operational: Ensures timely processing of all capital calls and distributions made by the funds'' underlying investments (approximately 4500 per quarter). Ensures timely calculation and processing of all capital calls and distributions made by the funds to their limited partners (approximately 12 calls/distributions per quarter). Manages the cash needs for each fund. Balances cash requirements, fund solvency requirements and impact on each fund''s IRR. Oversees all reconciliations between Private and the underlying funds (approximately 400 investments in underlying funds). Oversees all bank reconciliations - both DDA and custody accounts (22 accounts).
• Performs other duties as assigned.
• Complies with all policies and standards.

Qualifications

• Bachelor''s Degree Bachelor''s degree (finance or accounting preferred). - Required
• Proven understanding and experience of the financial services industry as well as previous management experience. - Required
• Proven experience managing and leading a team of individuals. Proven experience supervising and mentoring individuals. Must cite examples of providing direction, coaching and giving effective feedback to team members. - Required
• Demonstrated experience working independently under little direction from management. Demonstrated success identifying and resolving issues requiring independent decision-making and self-initiative. - Required
• Proven experience coordinating multiple projects/assignments simultaneously and completing assigned tasks accurately and on a timely basis. Cite examples of project management experience in planning, executing and maintaining a project from start to finish. - Required
• Proven extensive experience working independently to make decisions and demonstrate initiative. Experience must include identifying, defining and resolving problems and collecting or interpreting data to establish facts and draw valid conclusions. - Required
• Proven experience with innovative and creative problem resolution as it relates to Investment Management operations. Problem identification and resolution. - Required
• Demonstrated excellent verbal and written communication skills; ability to work across organizational boundaries and effectively build relationships inside and outside of the organization (e.g., Clients, CFOs of underlying funds and direct investments). -
• Proven ability to convey information, verbally and in writing, to internal and external customers in a clear, accurate, focused and concise manner. -
• Demonstrated ability to document procedures and activities in a manner that is understandable to others and prepared using a prescribed format. Verbal and written communications are to conform to proper rules of punctuation, grammar, diction and style. -
• Proven ability to interpret financial statements and apply a broad business perspective in summarizing results; demonstrated in depth knowledge, understanding and experience interpreting, utilizing and applying GAAP accounting rules and regulations -
• Proven overall strong business knowledge in accounting, operations, customer service, systems and compliance. -
• Demonstrated knowledge of investment accounting and processing related to traditional securities and mutual funds for institutional, retail or private equity clients. -
• Proven advanced knowledge of portfolio and composite performance calculations. -
• Demonstrated strong attention to detail with excellent organizational skills. Cite examples of organization and time management methods used to manage or prioritize workload demands. -
• Proficient in word processing and spreadsheet applications. -

Work Setting/Position Demands:

• Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
• Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
• Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
• Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
• Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
• Performs substantial movement of wrists, hands, and fingers for continuous computer work.
• Extended hours required during peak workloads or special projects/events.

Travel Requirements:

• None