Director, Alternative Accounting

Job Description:

The Role

The Director, Alternative Accounting is a member of the FFIO Alternative Accounting Team and is responsible for overseeing all aspects of accounting operations across a wide range of product structures, including, but not limited to, Limited Partnerships, REITs, BDCs, Interval Funds and Crypto.  The role requires expertise related to responsibilities including daily deliverable oversite, pivotal initiatives, business performance evaluation, and executive relationship management. You will work with other teams within FFIO as well as across the organization, collaborating with Asset Management, Legal, Risk, and Compliance on product launches, and build processes specific to fund record keeping, investor servicing, tax reporting, and financial reporting. Additionally, you will help to drive innovation to ensure the Alternative Accounting Team can support Fidelity’s growing Alternative product offerings.

The Expertise and Skills You Have

·Bachelor’s degree in finance/accounting or equivalent with 10+ years of experience in financial services with at least 3-5 of those years spent in Private Equity/Hedge Funds and Alternative Investments or Master’s degree with 8+ years of experience in same.

• Strong understanding of the alternative fund industry, including private equity and hedge fund products, including BDCs, REITS

• Experience with multi-layered fund structures as well as working knowledge of derivatives and direct debt, a plus.

• Strong understanding of partnership accounting, investor allocations, and complex investor level management fee and incentive fee calculations

• Experience supporting fund level back-office operations as well as portfolio expense caps, recoupments, and revenue share agreements.

• Experience with Geneva and Geneva World Investor preferred.

• Outstanding analytical, communication, conceptual thinking, project management, and problem-solving capabilities. Flexibility and the skill to both lead and contribute to teams are musts.

• Strong communication skills with the ability to develop and deliver cogent, insightful presentations to all levels of finance and business leadership.

• Presence and judgment to put forward well-reasoned recommendations and engage in dialogue with key decision-makers.

• Understanding of financial and accounting principles and how to apply them in business.

Strategic Problem Solver Who Focuses on Innovation

• Provide guidance based on experience and knowledge with product development, implementation, and ongoing accounting operations of various alternative products including open and close ended partnerships.

• Creates operational processes and procedures for new funds & products.

• Participates in and executes strategy and initiatives set forth by senior leadership.

• Coordinates testing of new technology prior to roll out into production and reports results to peers and managers.

Encourage and Empower Others & Develop Talent

• Provides feedback, direction, and assists in development of team.

• As subject matter expert ensures proper in-depth training of analysts within team.

• Values and rewards contributions, drive, initiative, and achievement of results

Lead by Example & Drive Results

• Perform detailed review of activity within the portfolios, inclusive of fund level trading and expense activities and investment valuation as well as investor level allocations and complex management and incentive fee expense calculations.

• Provides technical leadership and acts as a technical resource to the Alternative Accounting team as well as other business units within Fidelity.

Collaborate & Build Key Partnerships

• Assist with quarterly financial statement preparation, annual tax & audit reporting, and risk & compliance inquiries.

• Coordinates and manages departmental workflows.

• Monitors and assesses the department’s control environment; identifies potential issues and their impact on internal controls and drives a course of action to mitigate risk.

• Escalates operational incidents to senior management and Risk team; manages resolution processes.

• Leads and maintains relationships with business partners and expectations of service levels.

The Team

The Alternative Accounting Team is part of the Fund Operations division within Fidelity's Fund and Investment Operations (FFIO) business unit.  The Fund Operations division provides back office operational support to Fidelity Retail and Institutional products, including books and records maintenance, securities' pricing, fund and security level performance analysis, financial reporting, and tax work. The FFIO Alternative Accounting Team performs the daily, monthly, and quarterly pricing and bookkeeping for Fidelity’s alternative products, including fund structures with varying complexities with strategies focused on digital assets, distressed debt, direct lending, derivatives, private equity, and real estate.

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