Formulary Staff Accountant at Formulary responsible for fund accounting functions including client deliverables, LPA calculations, and maintaining live data systems. This role supports compliance and drives automation improvements.
Responsibilities
Drive key analyses, calculations, and inputs that go into producing client-facing reports
Preparation and/or assistance in preparation of client deliverables and functions, LPA calculations, and underlying inputs required for generating accurate client-facing reports
Ensure the accounting system is kept current by processing bank transactions, valuation adjustments, and real-time client inquiries
Ensure absolute accuracy and timely completion of all fund accounting reporting deliverables, including financial statements, capital calls, and capital account statements
Produce and confirm the reliability of all portfolio and fund-level performance metrics (e.g., IRRs, TVPI)
Actively assist with specialized workflows related to tax, audit, compliance, and regulatory reporting requirements
Understand how to use technology as a resource to streamline operations and deliver excellent client service
Identify, propose, and spearhead the launch of automation and systemization enhancements across fund administration processes
Actively provide detailed feedback on new technology features and functionality, and generate requirements and ideas for future automation solutions
Qualification
CPA certification
Required
1-2 years of fund accounting experience in venture capital, growth equity or private equity asset classes.
Track record of achievement at a leading fund administration services business.
Bachelor’s degree in Accounting or related field required.
Passion for technology and a desire to use technology to improve business operations.
Experience scoping out system requirements and implementing new systems.
Superior proficiency with financial statements and fund accounting tools and solutions (different general ledgers, bookkeeping systems)
A keen interest in using AI and machine learning to solve complex problems.
Practical experience with the entire investment lifecycle (from fund formation to fund dissolution) for venture capital, growth equity, and private equity asset classes.
Comprehensive grasp of industry best practices for fund management and operations, including regulatory, tax, audit, compliance and other areas.
Experience with Limited Partnership Agreements, LLC Operating Agreements, and other legal requirements. Understanding of traditional close-ended fund structures, SPVs, GP entities, blocker entities, parallel entities, and other investment structures (e.g. evergreen, master/feeder, and series fund structures).
Thorough understanding of GAAP (Generally Accepted Accounting Principles) and regulatory compliance, specifically as related to calculations and journal entries.
Proficiency in preparing fund financial statements (Statement of Assets and Liabilities, Schedule of Investments) and comprehensive Limited Partner (LP) reporting, including capital account statements.
Preferred
Demonstrated impact as a founding member of a fund administration services business.
Experience in leveraging AI/ML to solve different problems in fund administration.
Track record in achieving operational excellence and efficiencies through tech-enabled automation and systemization.
