Job purpose of Fund accountant
To be responsible for overseeing the fund accounting work performed by external vendors by verifying fund expenses accruals, confirming fee calculations, and ensuring accurate trading activity. Will troubleshoot to resolve issues or escalate problems as needed.
Key duties/responsibilities of Fund accountant:
1. Reviewing and preparing yearly tax filings for Hedge Fund, Private Equity Funds, Real Estate Funds, and Funds’ general partners and investment managers; Performing security analysis and calculating various Fund tax adjustments.
2. Preparation of Tax Form 1065 income tax returns and related K-1s and supporting schedules; prior experience with form 1120.
3. Conduct the following tasks: compliance and reporting, process improvements, and risk and controls assessment.
4. Researching tax treatment of complex financial instruments and corporate actions of Funds.
5. Recording all accounting transactions of the fund and ensuring all investments are booked accurately.
6. Preparation of accounting records, and financial statements and tax returns for several investment partnerships.
7. Preparation of limited partner capital calls and capital distributions.
8. Coordinate the preparation and filing of hedge fund financial statements and regulatory reports.
9. Review capital and profit and loss allocations as well as management and incentive fee calculations.
10. Prepare tax returns for S corporations, C corporations, and partnerships.
11. Monitor, analyze, and report on profitability to investors and management.
12. Oversee the monthly close of various hedge fund entities.
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