iCapital is powering the world’s alternative investment marketplace. Our financial technology platform has transformed how advisors, wealth management firms, asset managers, and banks evaluate and recommend bespoke public and private market strategies for their high-net-worth clients. iCapital services approximately $200 billion in global client assets invested in 1,634 funds, as of September 2024.

iCapital has been named to the Forbes Fintech 50 for seven consecutive years (2018-2024); a three-time selection by Forbes to its list of Best Startup Employers (2021-2023); and a three-time winner of MMI/Barron’s Solutions Provider award (See link below)

About the Role

Audit and Regulatory Financial Reporting – Associate

iCapital’s rapid international expansion creates an opportunity for a seasoned professional to join a fast-paced, rapid-growth environment. The Audit and Regulatory Financial Reporting role will work to ensure that the audited financial statements for close to 1200 separate legal entities are completed on time and accurately. The team oversees various vendors in this process such as external audit firms, third-party party general partners and 11 different fund administrators.

Responsibilities

• Review annual audited financial statements and notes to the financial statements that are prepared in accordance with US GAAP, IFRS and/or Luxembourg legal & regulatory requirements
• Manage audit processes, including coordinating and leading audit planning and audit status meetings with fund administrators, third-party general partners and external audit firms
• Identify, raise and resolve audit-related issues as they arise to the manager
• Interact with internal and external parties during the audit process, including third-party financial reporting teams at fund administrators, external audit firms, accounting teams at iCapital, investment operations teams, third-party general partners, directors, internal legal and compliance teams
• Analyze and communicate accounting standards, technical literature and industry best practices to determine accounting treatment, accounting policy and relevant disclosure updates
• Actively contribute to the ongoing development of the financial reporting oversight process with the goal of improving efficiency and scale while maintaining the quality of review
• Demonstrate business intelligence while working with large volumes of data, while under strict deadlines (i.e. the Custody Rule and CIMA deadlines)
• Assist with Luxembourg RAIF and UCI Pt II (Non-ELTIF) audited financial statements
• Stay current on changing rules and regulations in the industry
• Assist with the unaudited semi-annuals statements for the Canada feeder funds
• Assist with additional compliance requests
• Work on ad-hoc projects throughout the year, including but not limited to the CIMA consent process, independence list of funds, fair value memos, ASC 740 memos, Swiss disclosures, meeting minute redactions and going concern memos.
• Use a variety of technology platforms comfortably, both internal and external and update those systems as needed.
• Assist the team in managing iCapital’s SOC 1 audit

Qualifications

• Excellent written and verbal skills, in English and Portuguese
• At least 3 years’ experience in public accounting, internal audit, alternative fund administration or accounting, preferably within an alternative fund financial reporting group
• Knowledge of technical and regulatory issues affecting the alternative investment fund industry, including knowledge of investment company accounting/reporting, US GAAP (ASC 946) and IFRS (IFRS 10)
• BS/BA degree with accounting course work preferred
• Proficiency in Microsoft Excel, Word and Office Suite, especially Adobe
• Proficient at learning and using new technology systems
• Proven ability to multi-task and work both independently and as a collaborative team player in a fast-paced, demanding environment with a global management structure
• High levels of attention to detail and accuracy with organizational skills as a strength with proficiency in reconciliation large volumes of data
• Above all, the candidate must possess initiative and a willingness to contribute beyond the scope of one’s role to achieve team and firm objectives

We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office three days, with the flexibility to work remotely two days.  Every department has different needs, and some positions will be designated in-office jobs, based on their function. 

For additional information on iCapital, please visit https://www.icapitalnetwork.com/about-us  Twitter: @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Awards Disclaimer: https://www.icapitalnetwork.com/about-us/recognition/

iCapital is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.