Open Ended Hedge Fund Accountant, AVP

Role Overview

Associate Vice President (Account Manager) – Open Ended Hedge Fund Accounting at The Apex Group, Dubai, United Arab Emirates.

Company Overview

The Apex Group was established in Bermuda in 2003 and is one of the world's largest fund administration and middle office solutions providers. The company operates across 112 offices worldwide with approximately 13,000 employees. The business reaches globally, services locally, and provides cross-jurisdictional services with clients at the heart of operations.

Role Purpose

Support growing operations in the Fund Administration department by managing client deliverables, planning and scheduling daily workflows, and coordinating with extended teams across NAV calculation, Shareholder Reporting, and Compliance functions. The role requires excellent management of client deliverables and active collaboration with Account Managers, Senior Fund Accountants, and Fund Accountants across Dubai, Global Support Centers, and other Apex locations.

Key Responsibilities

NAV and Fund Accounting

• Assist in NAV preparation and review process for Hedge Fund clients, including management of the entire process.
• Reconcile investment portfolios, dividends and interest, corporate actions, and investor capital activity.
• Demonstrate good understanding of various types of Performance fee calculation, equalization, and Management fee calculations.
• Accrue or amortize daily or monthly non-security related fee accruals including management fees, performance fees, and financing accruals.
• Ensure timely and accurate preparation of distribution calculations and tax statements.
• Liaise with tax advisors of the fund as required.

Client Deliverables and Reporting

• Deliver timely completion of any client-specific reporting requirements.
• Plan, schedule, and manage daily workflows of all client deliverables within the team.
• Assist in the preparation and review of subscription and redemption packs.
• Ensure timely communication with investors of the funds.
• Monitor and review payments to be initiated for the client.
• Answer client enquiries in accordance with Apex service standards on an ongoing basis.

Implementation and Take-On

• Actively collaborate with the extended team at Global Support Centers.
• Heavily involve in the implementation of the take-on process of new clients, including review of PPMs and various agreements.
• Set up NAV reporting packages suitable to client requirements.
• Set up on PFS Paxus or any other system as required.
• Perform initial NAV calculations.
• Become conversant with PFS Paxus software or any other software as required.
• Work on the integration of large fund administration mandates.

Financial Statements and Audit

• Assist in the preparation and review of financial statements.
• Liaise with auditor as required and manage the entire audit process.
• Ensure timely and accurate preparation of distribution calculations and tax statements.
• Perform detailed reviews of all work carried out for correctness and adherence to Apex policies and procedures.

Compliance and Controls

• Ensure compliance with regulatory requirements and other requirements of the funds specifications.
• Maintain client relationships and take responsibility for coordination of regulatory reporting, audit preparation, and due diligence requirements.
• Implement and refine SSAE 18 controls along with coordination with internal auditors and external SSAE auditors.
• Ensure adherence to documented procedures and policies.
• Demonstrate knowledge of investor KYC and AML requirements.

Reporting and Communication

• Prepare and or review MIS reporting required by Senior Management or Apex Group.
• Facilitate the flow of information between Senior Management and Operations team on a timely basis.
• Serve as first point of contact for internal and external audit, tax returns, and compliance queries.

Business Development and Projects

• Actively cross-sell the suite of Apex services to client base.
• Assist in the development of new and existing global client relationships, optimizing service offerings, productivity, and profitability.
• Work on ad hoc internal and global projects as required.

Qualifications & Experience

• Seven to nine years' experience in a similar role incorporating the above functions.
• Prior experience of working in the industry.
• Understanding of US GAAP and IFRS reporting standards for various fund structures.
• Understanding of complex fund structures and fund accounting to act as subject matter expert.
• Master of Commerce (M.Com), MBA in Finance, or CFA qualification.
• Accountancy qualification such as ACCA or CA is an advantage.
• Knowledge and in-depth understanding of various types of financial securities including Equity, Bonds, Futures, Options, Sukuks, CDS, CFDs, and their accounting treatment.

Skills & Competencies

• Strong PC skills including Word, Excel, and Macros in Excel.
• Experience on Paxus is an advantage; familiarity with Paxus is a major plus.
• Strong leadership skills and supervisory experience of other professionals.
• Excellent organizational and communication skills.
• Ability to work on own initiative, consistently producing accurate and timely work.
• Good interpersonal skills to develop working relationships with colleagues, clients, other functions, and professional intermediaries.
• Demonstrated ability to automate processes.
• Proficiency in advanced Excel functions is a plus.
• Ability to think critically and objectively.
• Multi-tasking and problem-solving skills.
• High degree of commercial awareness and client service focus.
• Ability to work under pressure and meet tight deadlines.
• Organized, accurate, and willing to learn and take on new tasks.
• Ability to meet agreed deadlines.

Additional Information

• Work additional hours as needed.
• Opportunities for personal and professional development.
• A genuinely unique opportunity to be part of an expanding large global business.
• The international nature of the business and global network of offices means that there are opportunities to broaden life experiences and take both short-term or permanent relocation options.
• The Apex Group is an equal opportunity employer and ensures that no applicant is subject to less favorable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnicity, age, sexual orientation, socio-economic status, responsibilities for dependants, or physical or mental disability. Hiring decisions are made on the basis of skills, qualifications, and experience.
• Unsolicited CVs sent to Apex by recruitment agencies will not be accepted for this position. Apex operates a direct sourcing model and engages directly with exclusive recruitment partners when agency assistance is required.