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Wellington Management offers comprehensive investment management capabilities that span nearly all segments of the global capital markets. Our investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 55 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. As a private partnership, we believe our ownership structure fosters a long-term view that aligns our perspectives with those of our clients.
This is a unique and exciting opportunity to join a recently formed private equity-focused fund operations team dedicated to Wellington's expanding private equity business. InvesTech Fund Control & Operations - Private Funds ("FC&O) plays an essential role in Wellington's private funds business and is responsible for fund operations encompassing fund accounting, treasury, and financial reporting. Wellington has several private equity and co-investment funds with over $4.5 billion in PE assets and growing. The business is planning for new vintages of its flagship funds focused in late-stage investing and is looking ahead to expansion into new strategies and other private asset classes.
The Fund Controller will oversee several functions for Wellington's Private Equity Funds, playing a key role in fund NAV oversight and annual audits, the monitoring of capital calls and distributions, and assisting with investor requests. This role requires frequent collaboration with other Wellington teams and external service providers (e.g., Fund Administrators, Auditors, Investor Relations). The Fund Controller will report to the team's Associate Director.
Oversee the quarterly NAV and financial statement process for assigned funds, reviewing work prepared by our third-party administrator, including:
Complex private portfolio company transactions and application of manager-provided prices
Waterfall and carried interest calculations
Differing management fee arrangements
Gross and net IRR calculations
Ensuring accounting and presentation is consistent with U.S. GAAP and Limited Partnership Agreements
Assist with the funds' day-to-day operations, including:
Planning and coordination capitals calls and distributions, managing end-to-end process and reviewing calculations and notices produced by our third-party administrator
Payment of fund fees and expenses
Coordination of deal funding
Oversee annual audit process for assigned funds, coordinating with fund administrator and auditors
Contribute industry and operational knowledge to product development and new fund launches
Help to enhance and expand the internal accounting and finance policies and procedures to ensure best practices are always being followed
Assist Business, Investor Relations, and Compliance teams, among others, providing information and data to respond to queries and performing ad hoc analyses based on the funds' or investors' activity
Develop and manage relationships with Wellington's centralized teams and external service providers
Lead and support projects, both large and small, associated with the funds, Wellington's operational and systems infrastructure and service providers
Perform peer review of other team members and oversight of junior team members
College undergraduate degree, preferably in accounting, finance, or business
5-7+ years' experience from a public accounting firm, alternative investment firm, or fund administrator
2-3+ years' experience with private equity fund accounting and operations
Experience in other private asset classes (credit, real estate, infrastructure) is strongly favored though not required
Knowledge of closed-end fund structures (closes, capital calls, distributions), PE fee structures (management fees, carried interest), and private portfolio company investment transactions and valuation approaches
Advanced Excel and Access skills, or a desire to develop them
A client service mindset and strong communication skills
Completion or progress towards a CPA, CFA, or MBA is a plus
Motivated work ethic and ambition to expand one's knowledge, impact, and role
A proactive nature in developing and improving processes, identifying opportunities for efficiency and or risk reduction
Desire and ability to work in a fast-paced, team-oriented environment, performing multiple tasks and balancing competing priorities
Natural curiosity and ability to problem-solve, including researching technical accounting topics
Acute attention to detail and organizational skills
JOB TITLE PRIVATE EQUITY - INVESTECH FUND CONTROL & OPERATIONS FUND CONTROLLER
LOCATION 280 Congress
As an equal opportunity employer, Wellington Management ensures that all qualified applicants will receive equal consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information or any other characteristic protected by applicable law . If you are a candidate with a disability, or are assisting a candidate with a disability, and require an accommodation to apply for one of our jobs, please email us at GMCANINQ@wellington.com .