Job Title: Fund Controller
Location: UK, London
Department: Debt & Special Situations
Employment Type: Full Time
To Apply: Please email a covering letter and your CV (stating the position you are applying for) to: email@example.com
Within the specialised Debt and Special Situations Investment business, there is a Debt Finance & Loan Agency team of 5 people responsible for accounting, financial reporting, cash management, statutory / fiscal compliance and the loan agency & servicing for all funds and separate accounts advised by the Debt and Special Situations team. The team currently advises four debt funds and one special situations fund at various stages of their life cycle. Of these four funds, one separate account has recently closed with >£250m of equity commitments and a second, co-mingled fund, has recently closed having raised > £800m of equity. The Finance team also plays a key role in fund structuring/set-up, bank financing and liquidations as well as taking responsibility for corporate matters in relation to fund entities. LaSalle are looking to recruit an experienced Fund Controller with drive, excellent communication skills and the ability to work in the challenging and exciting Debt and Special Situations business. The candidate will take ownership of the newly raised flagship fund (totaling over £800m) that is actively investing. The successful candidate will also play a key role in the loan agency & servicing function managed internally at LaSalle.
Role and Accountabilities:
Accounting & Operations
- Management of the accounting, consolidation and reporting processes for the fund (and one of its feeders), including quarterly/annual financial statements, investor reporting, annual financial accounts and investor requests. The candidate will be required to prepare the accounts of the fund (rather than review accounts prepared by external providers) and review accounts prepared by external administrators for the feeder.
- Oversee the audit and tax compliance processes, including fee negotiations, scope determination, appointment and co-ordination of external advisers
- Serving as a single point of contact for internal fund managers, portfolio & asset managers and administrators.
- Responsible for cash management of the fund, including calculation of investor calls and distributions along with making recommendations to the fund managers
- Manage the revolving subscription facility for the fund
- Interact and liaise with different LaSalle functions in accordance with internal controls, external regulations and specific fund processes
- Liaise with the wider and different LaSalle Finance functions and ensure all information and reporting requirements are provided in an accurate and timely manner – including budgeting and forecasting.
- Assist in due diligence and structuring of new debt investments.
Loan Agency & Servicing
- Manage the loan agency & servicing aspects of the loans within the fund including Day 1 set up of new deals in the system and ongoing preparation of interest payment statements, compliance testing, waterfalls management, valuations instructions and dealing with borrower requests – in accordance with loan agreements
- Have deep understanding of the loan investment portfolio. Liaise with internal specialists to draft recommendations with respect to borrower requests/ issues.
Required Qualifications & Experience:
- Qualified accountant with 5 - 8 post qualification experience (ACA, ACCA preferred)
- Fund or CRE debt experience (an experience in both would be advantageous but not essential)
- Strong technical accounting experience
- Knowledge of loan agreements mechanics & key operational clauses
- Excellent Excel knowledge and experience of Yardi or similar Genaral Ledger systems an advantage
- Commercial mindset
- Good problem solving and analytical skills
- Self-motivated/takes initiative, pro-active with a ‘client-service’ mentality whether internal or external ‘clients’
- Organised, methodical and with an eye for detail and accuracy
- Hard working, ability to meet deadlines and multi-task
- Excellent verbal and written communication skills
LaSalle is an Equal Opportunity Employer and encourages applications from all sections of the community