The position is responsible for the day-to-day operations of and the primary point of contact for the managed accounts and Global Partners funds, as well as the investment platform with AIG.
Primary responsibilities include, but are not limited to, managing and establishing goals/strategic direction for 1 senior accountant, managing the relationships with third party administrators, understanding the pipeline of fund activity, including upcoming purchase and sale transactions, and managing/coordinating the operations and reporting of such activity. This includes:
- Communicating the timing and details of capital calls/distributions with the third party administrators.
- Determining the treatment of transactions under US GAAP and coordinating relevant disclosures with the third party administrators.
- Preparing / reviewing portfolio analysis used in making carried interest decisions, and working with other teams to ensure the timely recording of carried interest transactions.
- Reviewing financial statements and other investor reporting to ensure proper reflection and allocation of activity.
This position also manages the team relationship with key stakeholders, such as Fund Mgmt, Corporate Accounting, External Auditor, Internal Audit. The AVP is a technical expert on various subject matters such as Investran, PA/FM operational policies and various fund accounting matters. The AVP will help to set standards for use and lead the development of enhancements and improvements to, related processes and systems.
This position supports the implementation of IS-wide goals and initiatives, including systems implementations and business process re-engineering efforts.
The Manager reports to the Associate Vice President, Partnership Accounting Fund Controllers.
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Minimum 5 years of relevant public accounting or private accounting experience, required. Bachelors Degree, required Accounting or Finance major, or relevant experience in financial services and/or fund administration combined with a major in another field, required MBA or Masters a plus CPA strongly preferred Experience with reviewing GAAP financial reporting Working knowledge of GAAP and tax issues related to partnership accounting Ability to manage projects and tasks Ability to manage and develop employees Excellent project management and planning skills Proficient Microsoft Office skills Willing to take the lead on tasks Strong interpersonal skills Strong organizational skills and detail oriented Excellent communication skills - both written and oral Demonstrated ability to work effectively as part of a team
Partnership Accounting Manager
Supervise the periodic LP reporting for the Managed Accounts and Global Partners funds:
- Review all annual and quarterly financial statements prepared in accordance with GAAP and other key reports (including investor capital account statements).
- Liaise with external tax service providers regarding investment transactions to support the completion of the funds tax returns and other tax documents.
- Act as lead on investment transaction testing with external auditors and draft relevant disclosures in support of the annual audit of the funds financial statements.
Supervise various business operations for all relevant fund groups ensuring compliance with policies and procedures:
- Ensure compliance of business activities (calls, distributions, carry calculations) with partnership agreements.
- Ensure accurate accounting and allocation of fund activity and activities that impact firm books.
- Determine the applicable treatment of distribution proceeds received by the Fund and review the distribution waterfall calculations. Additionally, preparing projected waterfall / carry amounts for the equity group in determining carry projections or clawback analysis.
- Monitor legal compliance with various Fund agreements and arrangements.
Various tasks and initiatives:
- Set goals and provide performance feedback on a regular basis.
- Seek efficiencies in business processes with third party administrators.
- Participate in initiatives that help the department/firm meet strategy and goals.
The Carlyle Group (NASDAQ: CG) is a global investment firm with $216 billion of assets under management across 343 investment vehicles as of December 31, 2018. Carlyles purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments Corporate Private Equity, Real Assets, Global Credit and Investment Solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.