Alternative Investment Services is a distinct business line within the larger Investment Services group at BNY Mellon. BNY Mellon Alternative Investment Services helps clients gain the competitive advantage they need in today's fast-paced markets. Using a global approach to alternative assets administration and custody, we help portfolio managers mitigate risk, capitalize on opportunities, and master changing regulatory environments-at every phase of the investment life cycle.
With over $1.6 trillion in alternative assets under administration and/or custody worldwide, we understand the challenges of managing alternative assets, including real estate, funds of hedge funds, single manager hedge funds and private equity funds. Our client support and innovative technology allow for more efficient fund administration, as well as greater transparency. We continue to invest and develop capabilities in scalable asset servicing in the alternative-funds sector alongside the significant spend in our digital and data offerings. This makes us ready and able to adapt to and support client needs as allocations to alternative investment funds continue to grow. We are proud of our reputation and position as one of the world's largest providers of alternative fund administration.
Our global team of over 2,500 professionals is focused on alternative-fund servicing. We have principal Alternative service centers in New York, Luxembourg and Ireland. In addition, we have offices in Germany, Poland, Singapore, Hong Kong, India and the United Kingdom, as well as U.S. offices in California, Delaware, Florida, Illinois, New Jersey and Massachusetts. All of these strategic locations facilitate a strong global service model with consistency in technology, expertise and controls.
What We Do
Private Equity/Private Credit Fund Accounting Group Overview
Private Equity/Private Credit Fund Accounting Group is a specialized team within the Alternative Investment Services Division of Bank of New York Mellon focused on providing fund administration services to our Private Equity clients. We operate from Hong Kong, India, Poland, Ireland and the United States. The US team currently is comprised of 101 members (and growing) and supports numerous domestic and international money managers.
In the US, the team operates from New York, NY; Woodland Park, NJ; Los Angeles, CA; Wilmington, DE and Lake Mary, FL. Our team is primarily responsible for:
Preparing capital call and distribution calculations in order, to facilitate capital funding requests from clients.
Preparing and reviewing fund operating expense accrual budgets, as well facilitate wire instructions for vendor expense payments.
Processing portfolio trade activity related to fund investments.
Preparing and reviewing a fund's cash and asset reconciliation.
Executing PNL allocations to Investors.
Preparing and reviewing management and performance fee calculations.
Coordinating the preparation of and reviewing investor notices and capital statements.
Facilitating audit engagements on behalf of clients
Coordinating the preparation of unaudited or audited financial statements.
Facilitating onboarding of new clients and servicing existing clients.
Lead Analyst Job Responsibilities
Conducts accounting services on behalf of assigned clients and moderately complex funds including determining net asset values, calculating fund performance, allocating expenses and preparing reports.
Performs complex Fund/Client Accounting responsibilities in the areas of driving Service Improvement plans, targeting efficiencies, enhancing processes and specialist review functions.
Provides input into methodologies and checks the work of more junior team members.
Provides guidance and reviews work related to cash and asset reconciliations relating to complex accounts or transactions.
Resolves reconciliation of accounts for more complex or atypical transactions and reviews work of junior team members.
Drafts reports for clients regarding the performance of complex funds.
Reviews draft reports completed by more junior staff.
Regularly interacts with clients in answering questions and resolving issues regarding fund reports and accounting processes.
Assists in evaluating GAAP and/or IFRS rules to determine impact of new regulations on BNY Mellon fund accounting practices.
No direct reports.
Bachelor's degree (in Accounting or Finance ) OR the equivalent combination of education and experience
5 to 7 years total experience in Financial Services field required, preferably with Private Equity or Hedge Fund servicing experience.
Proficiency in using Microsoft packages particularly Excel is preferred.
Systems proficiency in Advent Geneva and or FIS Investran is a plus.
Ability to effectively prioritize and execute tasks in a high-pressure environment is preferred.
Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients, and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.