Controller & Chief Accounting Officer, Retail Investor Funds - Illinois Association of Mutual Insurance Companies

SUMMARY

The Controller & Chief Accounting Officer (CAO) of the firm’s Commingled Retail Investor Funds will be responsible for overseeing all finance and accounting operations for investment funds to be made available to individual investors through various retail distribution partnerships or channels. Specifically, the role will serve as the CAO for an SEC registered investment company operated as an interval fund, focused on generating attractive risk-adjusted returns and current income through a variety of infrastructure investments. This role will also be responsible for fund financial operations as a core independent manager to a second interval fund focused on a variety of private equity secondary investments and co-investments. The individual will also be responsible for certain aspects of the accounting and financial reporting for the Funds’ Investment Advisor.

Responsibilities will include managing financial reporting and analysis, providing strategic guidance to senior management on financial matters, as well as certain board reporting and contributing to the ongoing compliance with SEC regulations. This role will be expected to develop strong working relationships and to demonstrate the ability to work in a cross functional team across Corporate Accounting, Fund Accounting and Analysis, Treasury, Legal, Tax, external and internal auditors and the various JV partners and fund service providers.

This position will report to GCM Grosvenor’s Managing Director of Fund Accounting and Analysis, who is responsible for all fund data, reporting and accounting operations matters. The person will also work closely with the GCM Grosvenor’s CFO, CAO, Treasurer, and several key members of the Finance leadership team.

As an onsite/hybrid employee, you are expected to be in the office on Tuesdays and Wednesdays as well as a third day in coordination with your manager.

RESPONSIBILITIES

• Responsible for the semi-annual and annual fund financial reporting and periodic financial filings of the infrastructure interval fund (N-CSR, N-Port, etc.). Includes running a reporting calendar, managing fund service providers, and planning and facilitating the annual fund audit.
• Support the Funds’ CFOs and CCOs, ensuring compliance with relevant regulatory requirements, including SEC regulation and US GAAP standards of accounting.
• Oversight of the daily valuation process, coordinating with the GCM valuation and accounting teams, the third-party valuation firm, and the fund administrators, to ensure valuations updates are reflected in the daily net asset value of the Funds.
• Management of the day-to-day accounting and operations of the Funds including:
  • Reconciling and recording of investment and investor activity.
  • Preparation and oversight of the fund expense budget, monitoring of the expense cap as well as any reimbursements related to expense support payments due to the Advisor.
  • Calculation and review of the daily management fee and quarterly payment due to the Advisor.
• Management of the funds’ cash balances, investment and investor activity, and overall fund liquidity to ensure investment and investor transactions are appropriately settled in coordination with the GCM treasury team.
• Assistance with the Board of Directors quarterly meeting, including any advance preparation of financial materials.
• Preparation and distribution of monthly advisory entity financial statements prepared in accordance with US GAAP and under existing SOX regime requirements in accordance with GCM’s monthly accounting close calendar.
• Creation and coordination of SEC compliant expense allocation policy and time tracking process to ensure reimbursable expenses of the advisor are properly tracked and recovered from the Funds.
• Management of quarterly distributions in accordance with governing documents.
• Review of consolidation analysis on a periodic basis and coordination of annual audit if required.
• Assist in advisor compliance related to SEC registrations.
• Preparation of annual budget and ongoing financial forecasting.

EDUCATION, SKILLS AND EXPERIENCE REQUIREMENTS

• BA/BS in Accounting with outstanding academic credentials; CPA required.
• 8+ years of professional experience in investment management accounting and operations; prior experience in Big 4 public accounting (manager-level or above) preferred.
• Background in the financial services industry required; knowledge of the alternative asset management industry a plus.
• Experience working in the mutual fund industry and familiarity with the regulatory requirements of the Investment Company Act of 1940 and SEC regulations highly preferred.
• Experience with internal control compliance (SOX 404) a plus.
• Strong leadership and communication skills in order to establish trusted relationships across many Firm departments (Corporate Accounting, Fund Accounting and Analysis, Legal, Tax, Human Resources, Corporate Development, Investor Relations) to identify issues, analyze current processes, and implement future changes.
• In-depth knowledge of US GAAP and proficiency in technical accounting research, analysis, and documentation.
• Demonstrated leadership abilities and strong managerial skills, with the ability to supervise and develop a team.
• Demonstrated ability to effectively manage organizational change and cross-collaborate with non-accounting functions.
• Highly organized and efficient – must be able to process a large volume of information and manage competing priorities with effective detail orientation as well as delegation.
• Ability to operate under pressure and manage to strict deadlines.

In terms of cultural fit, the successful candidate will be self-motivated and energized by working amongst a group of thoughtful, smart and successful colleagues. He or she will enjoy being part of an organization focused on excellence and will be a naturally collaborative person who enjoys interacting with individuals at all levels.

CULTURE

We are not afraid to think differently. Embrace new ideas. Dream big. Welcome change. We are a culture of empowerment, accountability, high performance, and trust. Successful team members are self-motivated and energized by working alongside thoughtful and smart colleagues in a fast-paced environment. Individuals who thrive on this team enjoy being a part of an organization focused on excellence. We look for naturally collaborative individuals who enjoy interacting at all levels of the organization.

DIVERSITY, EQUITY & INCLUSION

A diverse, engaged team is critical to our ability to successfully create and deliver value to our clients. We are committed to creating an inclusive environment where diverse professionals can thrive professionally, and we are dedicated to training, retaining, and promoting minorities, women, LGBTQ employees, veterans and individuals with disabilities. Over 55% of GCM Grosvenor employees and 43% of executive management are women and/or ethnically diverse individuals. In addition, we seek to drive a more diverse, inclusive industry through our partnership with diverse professionals organizations and by consciously working with subcontractors and vendors that are certified as minority-, women-, or persons with disabilities-owned businesses.