Fund Accountant

Business and Financial Operations

New York, NY

Cowen Inc. is seeking a Vice President to join its Fund Accounting team in New York City due to growth within the organization. 

The successful candidate will be responsible for executing, reviewing, and/or completing the monthly accounting and reporting processes for Private Equity and Hedge Funds. Financial instruments, traded within a single investment strategy include, but are not limited to, equity securities, options, fixed income, and derivatives. Fund products include entities that are fully serviced by an external administrator and prepared in-house.  The successful candidate’s experience will demonstrate the ability to work independently and be part of a larger team

Specific responsibilities include:

  • Cross team collaboration and interaction with external service providers, prime brokers and custodial banks.
  • Private Equity experience: Ability to create and interpret complex Carry/Waterfall calculations and articulate results.
  • Calculation of daily fund P&L, performance, and alpha.
  • Preparation / review of month-end and quarterly NAV and internal control packages.
  • Verification of investor’s management, performance, and carry fee calculations.
  • Calculation and review of monthly and quarterly investor performance.
  • Review of monthly investor statements.
  • Preparing year-end financial statements in accordance with GAAP.
  • Assist in other external audit related preparation and requests.
  • Perform special projects and ad hoc reporting as required.
  • Develop and improve workflows and procedures.

Requirements

  • Bachelor’s Degree in Accounting.
  • Mix of 4 to 8 years in public and/or private (focus on Private Equity and Hedge Funds) post-undergraduate experience.
  • Knowledge of entire Private Equity process including waterfall creation and maintenance, capital call and distribution process, treasury function, performance reporting including IRRs,and NAV approval process.
  • Knowledge of financial instruments should include equities, options, fixed income securities, derivatives, equity swaps.
  • Knowledge of fund structures should include, Master/Feeder, separately managed accounts, private equity and SPVs.
  • Experience with series and partnership accounting principles and application as well as various management and performance fee structures.
  • Solid understanding of accounting principles, in compliance with GAAP, and the application of such principles in preparation/review of the aforementioned monthly NAV packages.
  • Highly proficient with Microsoft Excel including PivotTables, macros a plus.
  • Ability to learn new accounting software, specifically AExeo and Penny.
  • Strong analytical and organizational skills.
  • Excellent interpersonal, written, and verbal communication skills.
  • A desire to learn and take on increasingly new and challenging tasks.

As part of its hiring process, Cowen verifies identity and eligibility to work in the United States as required by law. At this time, Cowen Inc. will not sponsor a new applicant for an employment visa for this position.

Company Profile:

Cowen Inc. (“Cowen” or the “Company”) is a diversified financial services firm offering investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing, commission management services and actively managed alternative investment products. Cowen focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the Company is headquartered in New York and has offices worldwide. Learn more at Cowen.com