iCapital is powering the worlds alternative investment marketplace. Our financial technology platform has transformed how advisors, wealth management firms, asset managers, & banks evaluate & recommend bespoke public & 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); & a three-time winner of MMI/Barrons 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, & Toronto, Canada.   The remit of this role includes management of the team & partnership with its leadership & the Technology team to drive controls, automation & 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 & wind-down.  You will partner closely with the Head of Vendor Management to work with & manage over 10 administrators & Transfer Agency (TA) relationships. In fast-growing business, it is expected that the leader of the team will have an innovative mindset & work to develop new & better ways to drive the business forward. 

Responsibilities

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

Qualifications

• Bachelors degree in finance, accounting, or other business-related field; CPA or other accounting designation is a plus 
• 20+ years of Accounting & Operations experience, with a focus on Private Capital/ Hedge Fund Administration; Feeder & multimanager fund experience are highly desired 
• Excellent leadership & managerial skills; a successful candidate has emotional intelligence, is diplomatic, charismatic, persuasive, & credible to a wide variety of audiences, both internal & external 
• Passion for the application of innovative technology 
• Strong written, verbal, & interpersonal communication skills 
• Willingness to learn new topics & 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

The base salary range for this role is $250,000 to $350,000. iCapital offers a compensation package which includes salary, equity for all full-time employees, & an annual performance bonus. Employees also receive a comprehensive benefits package that includes an employer matched retirement plan, generously subsidized healthcare with 100% employer paid dental, vision, telemedicine, & virtual mental health counseling, parental leave, & unlimited paid time off (PTO).

We believe the best ideas & innovation happen when we are together. We offer most employees the flexibility to work in the office three or four days. Every department has different needs, & some positions will be designated in-office jobs, based on their function. 

For additional information on iCapital, please visit https://www.icapitalnetwork.com/about-us  Twitter: @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Awards Disclaimer: https://www.icapitalnetwork.com/about-us/recognition/

iCapital is proud to be an Equal Employment Opportunity & Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics