Based out of Guernsey (St Peter Port) this international fund administration specialist has built a well established specialist private equity fund department. To continue its growth the firm is looking to appoint a skilled Head of Private Equity Fund Administration to manage the team and supervise the administration of these funds.
At present the company manages a number of specialist private equity funds â some of which are its own in house products and others which are collective investment vehicles marketed by some of the biggest global names in fund management and investment banking. Whilst these fund all share the fact they are based around none exchange quoted equity, they are diverse in their manner of operation, operating across many different jurisdictions and support a range of fund sizes, assets and type of structure. These are administered to local and international regulatory standards. Clients for these products include other financial institutions and skilled high net worth private investors.
The Head of Private Equity Fund Administration is charged with organizing and supervising the fund administration service provided
to all the firms Private Equity fund customers. Besides day to day management and development of the department their core remit is to meet all service level agreements and revenue targets that are focused upon the teams core activity; acting as main administrator for these funds general partners. They charge these clients a management fee which in itself is often based around the general partners own fee structure. As a specialist private equity fund administration team the department is often involved in fee calculation including carried interest and management fee. They will also work with their clients to calculate exceptions including claw back provision and preferred return.
On behalf on these funds limited partners, the firm administers and calculates income, committed capital, capital gains and helps with the organization of capital calls and draw downs. For both sides the firm also takes a role in the accurate provision of Private Equity Ratios. These are all delivered to GIPS (Global Investment Performance Standards)
level and are shared with existing clients, existing clients of clients and prospective customers. The Head of Private Equity Fund Administrations team will be involved in calculating investment multiples, realization multiples, RVPI multiples and PIC.
Of course the department undertakes a variety of vanilla fund administration duties and responsibilities which can be broken down in to:
- To complete all standard fund administration tasks in a timely accurate fashion to service levels already pre agreed in the clients contract.
- Control, mentor and lead the staff training function. This includes using the firm internal trainers and organizing the optimum use of allocated training budget. The firm is keen to sponsor staff members for the various fund administration professional qualifications like CSA, STEP, IDFA, AAT, CAT, ACCA, CIMA or IFS.
- Ensure the team is working to the best levels by precise workload and work flow management.
- Ensure full compliance with internal and external regulation â meeting all the new regulation and be prepared to meet any new regulation that emerges.
- Make sure that all customers receive all relevant documentation and legal correspondence and that all meetings and AGMs are organized and executed in a correct and professional manner.
- Ensure all board meeting minutes are completed, signed off, archived and delivered as per the service level agreements.
- Assist all the customers general partners with the investment process, especially the Call and the Distribution processes and during specific one off events such as LBO (Leveraged Buyouts) and the creation of specific debt related instruments.
- Take ownership of accuracy of the department client accounts and ensure accurate, compliant and smooth auditing of these is completed as per the clients desires and are audited as per the agreements.
- All Ledgers and sub accounts are managed and accurate.
To be considered for the Head of Private Equity Fund Administration vacancy you should fit the following applicant profile:
- At least five years working in a senior management role in a fund administration environment who have large fund customers.
- A good understanding of Company Secretarial duties.
- Have a good understanding and knowledge of the private equity fund market and role these companies play in the corporate world.
- Be a clear communicator, a good leader and mentor.
- How to perform simple double entry book keeping and to prepare accounts to trail balance.
The successful applicant can expect a real senior management package; including top of the line salary, an outstanding bonus and a full package of executives perks.
To apply simply click on the button above.