Associate, Private Credit Fund Accounting, PFS

About this role

Department Description

The Fund Accounting team’s primary responsibility is the books and records of the funds.  This responsibility includes oversight, review and reconciliation of the books and records with internal teams including Middle Office, Cash Management, and Asset Management / Valuation as well as with external, third-party fund administrators.  This responsibility includes NAV calculation and review, management and performance fees, expense review and management and capital calls and distributions.  In addition to the core books and records, Fund Accounting works closely with Legal on fund setup and operation, with Product Specialist and Investor Relations on ongoing and ad hoc analysis and with Management Company Accounting on AUM, performance and fee reporting and revenue recognition.

Position Description
BlackRock’s Private Financing Solutions division (“PFS”) is currently hiring for an Associate level individual on the Fund Accounting team to support BLK Private Credit Funds. Private Credit is a strategic focus for the firm and this position will be part of a core accounting team in Princeton, NJ. The position offers significant growth opportunities both organically as the firm expands our product offerings, as well as opportunities to be involved in ongoing platform-wide projects.

The Fund Accounting Associate performs an integral role within the Fund Accounting team and is responsible for review and reconciliation of the funds’ books and records, liaising with both internal departments and external third-party fund administrators. The Fund Accounting Associate will be involved in the closing of the books including NAV review, reconciliation, financial statement review, and partners’ capital statement review among other responsibilities.  Additionally, the Fund Accounting Associate will be involved in fund setup and operation and ad hoc internal and investor requests.

Responsibilities                                                                                                                                                                                

Specific responsibilities will include but not be limited to the following:

• Monthly and quarterly closing of the funds’ books with fund administrators & maintaining shadow books and records

• Preparation and review of complex Management fee and incentive fee calculations

• Preparation and review of partners’ capital statements

• Preparation and review of capital call and distribution calculations and notices

• Review of fund expenses for accuracy and coordination of accruals and payments

• Calculation and review of monthly investor return and NAV estimates

• Preparation and review of quarterly and annual GAAP financial statements

• Drive increased efficiency and innovation through continuous review of operating procedures and planning / managing, evaluating, and implementing technology improvements

• Demonstrate complete ownership of the day-to-day accounting and administrator oversight to ensure timely and accurate delivery of reporting to Investors by all team members across the group

• Ensure a robust control environment exists both at the fund service providers and internally to ensure risk of error is mitigated

• Be actively involved in Accounting Policy related discussions, understand and communicate the impact to the business, financial results, and reporting/disclosure requirements if applicable

• Responsible for regulatory compliance with SEC, NFA, and other regulations for products under your guidance

• Ad hoc reporting and projects

Candidate Profile

• Bachelor’s degree in Accounting, Finance, or Economics preferred

• 3-5 years of combined work experience in a Fund Accounting, and/or public accounting role supporting clients within the financial services industry (preferably within Credit or Asset Management with exposure to Private Credit)

• “Big Four” public accounting experience preferred

• CPA preferred

• Excellent communication skills, both written and verbal

• Ability to work independently with the willingness to constantly think outside of the box

• Highly organized and proven ability to execute and manage complex logistics, projects, and tasks under tight time constraints

• Strong analytical/logical mindset and attention to detail; extensive experience working with large sets of data is preferred

• Fluency required in Excel (VBA knowledge a plus), PowerPoint and Word

For Princeton, NJ Only the salary range for this posi