Fund Controller - Private Equity

Company Background

Symbiotic Services is actively recruiting on behalf of a prestigious private equity firm based in Connecticut. The firm, which has been in operation since 1982, rebranded itself in September 2020 and currently manages a diversified portfolio of three core funds and 15 co-investment entities. Their unique low-leverage buyout structure focuses on acquiring controlling stakes in private companies, ensuring tax efficiency while also creating a sustainable and growing revenue stream for managers and investors.

Location

Connecticut

Position

Fund Controller or similar title

Reporting Relationship

Directly reports to the CFO, with oversight responsibilities for the Fund Accountant

Compensation

A comprehensive and competitive compensation package that includes a balanced mix of salary and performance-based bonuses, calibrated to align with the candidates qualifications and experience.

Responsibilities

Investment Accounting

• Ensure accurate and timely financial reporting for both the firms primary funds and its co-investment entities.

Quarterly Financial Reporting

• Generate detailed quarterly financial statements that address both the fiscal performance of the funds and the relevant disclosures for investors.

Transaction-Specific Accounting

• Manage all accounting processes related to investment acquisitions, disposals, and other transactions, ensuring that financial records are meticulously kept.

Credit Facility Management

• Monitor and reconcile all credit facility activities, including interest charges and unused fees, to ensure that accounting records are accurate.

Distributions

• Administer the disbursement of quarterly distributions to investors and other stakeholders, ensuring proper allocation and accounting.

Audit Facilitation

• Work closely with external auditors to ensure all financial statements and related disclosures are accurately audited within the stipulated time frame.

Tax Responsibilities

• Assist in preparing tax returns for the firm and its investment entities; this includes related accounting tasks such as processing tax payments and ensuring compliance with tax laws.

Investor Relations

• Oversee all communication related to investors, including reporting and responding to specific investor inquiries.

Financial Forecasting

• Play an active role in the development of financial forecasting models, including projections for Internal Rate of Return (IRR) and capital calls.

Handling Ad-Hoc Requests

• Address and fulfill additional tasks or queries that may arise sporadically, ensuring timely and accurate completion.

Compliance with Tax Regulations

• Direct the tax compliance process, ensuring that all tax obligations are met in accordance with federal and state laws.

Tax Allocation Coordination

• Review and coordinate the allocation of taxable income and deductions among the various entities within the firm.

Liaison with Government Authorities

• Maintain communication with federal and state tax authorities for issues related to non-resident tax withholding, penalty notices, and other tax-related matters.

Limited Partner Engagement

• Respond promptly and accurately to tax-related inquiries and ad-hoc requests received from Limited Partners.

By providing clear roles and tasks, this overview aims to set clear expectations for the positions responsibilities.

Qualifications

• A minimum of five years of specialized experience in a leading accounting firm or private equity environment is required. Experience in overseeing financial teams or projects is highly desirable.
• A deep and comprehensive understanding of tax and financial operations is indispensable. The candidate should also possess expert-level knowledge in partnership accounting, aligned with IRS regulations and Generally Accepted Accounting Principles (GAAP).
• Professional certifications like CPA, CMA, or CFA are strongly preferred, enhancing the candidates standing for this role.

Personal Attributes

• The ability to maintain the highest standards of confidentiality is non-negotiable.
• A strong work ethic is vital, along with a proactive nature that demonstrates an ability to work independently while identifying and resolving issues as they arise.
• Outstanding verbal and written communication skills are a must. The candidate should also be adept at fostering interpersonal relationships, both within the organization and with external stakeholders.
• The candidate should exhibit exceptional problem-solving skills and an analytical mindset to navigate complex financial landscapes effectively.
• Teamwork and collaboration are highly valued. The candidate should be adaptable and willing to "roll up the sleeves" to get things done, contributing to a cohesive work environment.

Systems in Place

• An advanced level of expertise in Microsoft Excel and Word is essential, as these tools form the backbone of many of the roles responsibilities. Skills in Concur for Invoice, Expense/Travel management is also beneficial.
• Experience with Customer Relationship Management (CRM) systems like Navatar for Salesforce would be advantageous.
• Although not a prerequisite, a strong proficiency in specialized financial and accounting software will be highly regarded. Familiarity with Microsoft Dynamics for General Ledger, PEView for investor support, and Intralinks for investor relations can be an asset.

By joining this esteemed firm, you will not only be engaged in rewarding and challenging work but also become a part of an organization that values professional growth and personal integrity.