Assistant Manager – Fund Accounting (m/f)

Assistant Manager – Fund Accounting

Department: Fund Administration

Role Overview

Within the Fund Administration department, the Assistant Manager is responsible for overseeing a portfolio of complex and high‑profile fund structures, ensuring high‑quality service delivery, regulatory compliance, and timely reporting.

The role combines technical expertise, team leadership, and client ownership. The Assistant Manager acts as a key escalation point for both clients and internal teams and supports the Manager in driving operational excellence, risk management, and process improvement.

Tasks

Client & Delivery Ownership

• Act as the primary point of contact for a portfolio of sophisticated clients (Private Equity, Private Debt, Evergreen structures, Hybrid structures, Open-ended structures).
• Assume end‑to‑end responsibility for service delivery, ensuring compliance with SLAs, fund documentation, and regulatory requirements.
• Manage client expectations proactively and handle escalations independently before involving the Manager where required.

Build and maintain trusted, long‑term client relationships, participating in client meetings, onboarding calls, and post‑audit reviews.

Onboarding

During client onboarding, the Assistant Manager undertakes several crucial tasks to ensure a smooth transition and establish a productive relationship with the new client. Hereunder are some key responsibilities:

• Lead or actively support client onboardings, restructurings, migrations, and system set‑ups.
• Validate fund structures, valuation methodologies, fee models, and reporting frameworks in line with legal documents.
• Coordinate across internal teams (FA, TA, back office, Corporate, AIFM, Risk & Compliance, IT etc) to ensure seamless implementation.
• Review and sign‑off data migration and initial NAVs.

NAV Oversight & Technical Review

During Net Asset Value (NAV) oversight, the Assistant Manager play a critical role in ensuring accuracy, compliance, and smooth operations. Hereunder are some key responsibilities:

• Assume overall accountability for the NAV oversight framework across the assigned client portfolio, ensuring accuracy, consistency, timeliness, and compliance with fund documentation, accounting standards, and regulatory requirements.
• Oversee the end‑to‑end NAV production cycle, including capital activity, income recognition, valuation inputs, investor allocations, and fee calculations.
• Perform in‑depth technical reviews and approvals of complex NAVs, including:

• o Private equity, private debt, evergreen funds, and multi‑compartment structures
• o Complex instruments (loans, profit‑participating notes, derivatives, look‑through investments)
• o FX treatments, waterfalls, and performance fee mechanisms

• Act as a technical reference point on Lux GAAP, IFRS, consolidation and structure‑specific treatments.
• Ensure all NAV‑related deliverables meet agreed Service Level Agreements (SLAs) and internal quality standards.
• Maintain strong documentation standards, including working papers, reconciliation files, and management review evidence, to support both internal controls and external audit requirements.
• Support the preparation of financial statements inputs by ensuring consistency between NAVs, accounting records, and statutory reporting.

Risk Management, Controls & Audit

• Act as a key control owner for the assigned client portfolio, ensuring that fund accounting activities are performed in line with internal policies, ISAE requirements, regulatory obligations, and client documentation.
• Ensure that appropriate preventive and detective controls are in place, operating effectively, and evidenced.
• Review and challenge unusual transactions, valuation judgments, late data, or deviations from standard processes.
• Act as the primary escalation point for NAV issues, breaches, or errors, ensuring timely resolution, root‑cause analysis, and clear documentation.
• Act as the primary liaison for external auditors, managing audit queries and timelines.
• Support the Manager in maintaining a strong control culture across the team and client portfolio.

Team Leadership & People Management

• Provide day‑to‑day supervision of Senior Fund Accountants and Fund Accountants within the team.
• Allocate work effectively, taking into account complexity, risk and deadlines.
• Review deliverables prepared by the team and provide structured feedback.
• Support training, development, and performance management of team members.
• Promote a culture of accountability, ownership, collaboration, and quality.
• Escalate capacity, performance, or quality concerns to the Manager with proposed solutions.

Process Improvement & Operational Excellence

• Continuously assess existing fund accounting and reporting processes to identify inefficiencies, risks, and improvement opportunities.
• Actively contribute to system enhancements, automation, and standardisation.
• Support the Manager in implementing new operating models, tools, and best practices.
• Encourage a culture of continuous improvement and risk awareness

Required Experience / Qualifications

• Bachelor's degree in Accounting, Finance, or Economics
• ACCA (or equivalent) – qualified or advanced stage preferred
• Strong knowledge of Lux GAAP and IFRS (including consolidation)
• 8+ years of experience in fund administration, primarily for closed-ended funds, open-ended funds and evergreen/hybrid funds, with experience in various asset classes (private equity, private debt, listed loans)
• Prior experience reviewing NAVs and supervising team members is essential.
• Experience in capital hedging and portfolio management.
• Added value for candidates familiar with public loans managed through Allvue or WSO platforms.
• Languages: English fluent; French and/or German is an advantage.
• Additional advantage for candidates with experience using Paxus.

Skills/Behavior

In addition to demonstrating IQEQ's Group Values (Authentic, Bold, Collaborative), the Assistant Manager is expected to

• Take ownership and accountability
• Demonstrate sound judgement and risk awareness
• Lead and develop others
• Communicate clearly with senior stakeholders
• Navigate complexity and ambiguity
• Balance client service with internal control discipline
• Plan, prioritise, and delegate effectively
• Continuously develop technical and leadership skills