Global Head of Fund Finance - Managing Director

iCapital is powering the world’s alternative investment marketplace. Our financial technology platform has transformed how advisors, wealth management firms, asset managers, and banks evaluate and recommend bespoke public and private market strategies for their high-net-worth clients. iCapital services approximately $176 billion in global client assets invested in 1,433 funds, as of December 2023.

iCapital has been named to the Forbes Fintech 50 for six consecutive years (2018-2023); a three-time selection by Forbes to its list of Best Startup Employers (2021-2023); and a three-time winner of MMI/Barron’s Solutions Provider award (See link below). 

About the Role

The Head of Fund Finance will lead a team of over 115 employees distributed across multiple locations including New York, NY, Princeton, NJ, Greenwich, CT, Boston, MA, Lisbon, Portugal, and Toronto, Canada.   The remit of this role includes management of the team and partnership with its leadership and the Technology team to drive controls, automation and continue building scale.

This role will oversee the 115-person team that manages the lifecycle of the funds including operational review pre-deal closing, deal closing, ongoing capital activity management, monthly and/or quarterly reporting, the annual audit process and wind-down.  You will partner closely with the Head of Vendor Management to work with and manage over 10 administrators and Transfer Agency (TA) relationships. In fast-growing business, it is expected that the leader of the team will have an innovative mindset and work to develop new and better ways to drive the business forward. 

Responsibilities

• Design and improve the control environment for fund finance operations and reporting in coordination with platform technology build out:
  • Work with the Product and Technology teams to design new and enhance existing platform functionality.
  • Integrate new platform tools with existing workflows and processes.
  • Iterate on management reporting and perfect client deliverables.
  • Design team for efficiency and scale.
• Liaise with internal and external clients on opportunities to improve the client experience and outcomes.
• Lead and manage the existing team across the following functions:
• Operational review pre-deal closing
  • Investigate and structure the operating environments of funds prior to fund launch.
  • Support diligence on the operational suitability of the underlying funds.
  • Select and onboard Administrators and engage other service providers required to support the funds.
  • Promote the use of feeder fund attributes that align with objectives of standardization and scale across fund environments.
• Deal closing
  • Determine UF commitments by private capital feeder funds/hedge feeder fund subscriptions into the underlying funds.
  • Administer initial capital drawdown to commence fund operations and monitor cash accounts for funding activity.
  • Oversee rebalancing among initial and subsequent closes.
  • Manage redemptions from underlying funds.
• Ongoing fund administration, from commencement of operations to wind-down
  • Execute cash management and capital events including calculation and notification of capital calls and distributions, managing the liquidity of the fund, and optimizing cash levels, and capital drawdown frequency for private capital funds.
  • Perform monthly and quarterly validation of administrator valuations and manage the fund expenses.
  • Support inquiries from and communications to investors, clients, regulators, custodians, and internal groups.
• Manage the wind-down and liquidation of funds.

Qualifications

• Bachelor’s degree in finance, accounting, or other business-related field; CPA or other accounting designation is a plus 
• 20+ years of Accounting and Operations experience, with a focus on Private Capital/ Hedge Fund Administration; Feeder and multimanager fund experience are highly desired 
• Excellent leadership and managerial skills; a successful candidate has emotional intelligence, is diplomatic, charismatic, persuasive, and credible to a wide variety of audiences, both internal and external 
• Passion for the application of innovative technology 
• Strong written, verbal, and interpersonal communication skills 
• Willingness to learn new topics and work in an evolving, entrepreneurial business environment 
• Able to work well in a cross-functional, matrix management environment with a highly collaborative, team-oriented approach to problem-solving 
• Effectively prioritize tasks with a high level of attention to detail 

Benefits

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