Fund Controller, Private Funds R90786

at Wellington Management Company in Chicago, Illinois, United States

Job Description

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 60 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.

THE COMPANY

Tracing our roots to 1928, Wellington Management Company, LLP is one of the world’s largest independent investment management firms. With over US$1 trillion in assets under management, we serve as a trusted adviser to institutional clients and mutual fund sponsors in over 60 countries. Our innovative investment solutions are built on the strength of proprietary, independent research and span the global capital markets, including equity, fixed income, multi-asset, and alternative strategies. As a private partnership whose sole business is investment management, our long-term views and interests are aligned with those of our clients. We are committed to attracting a talented and diverse workforce, and to fostering an open, collaborative, and inclusive culture because we believe multiple perspectives lead to more informed investment and business decisions. As an Equal Opportunity Employer, we welcome people with diverse life experiences, fresh ideas, and specialized subject-matter expertise. We have a hybrid work environment where both remote work and office play a critical role.

OVERVIEW

This is a unique and exciting opportunity to join Wellington’s private investment-focused fund operations team dedicated to our rapidly expanding private equity business. 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 been investing in private markets for many years, launching its first dedicated private capital fund in 2014 and growing to over $8.5 billion in private investment platform AUM today. The business is planning for new vintages of its flagship funds focused on late-stage growth and venture investing and is expanding into other private asset classes beginning with private credit. The Fund Controller will oversee several centralized tasks and functions for Wellington’s Private Equity Funds, perform fund-specific oversight, and will play a key role in the quarterly Financial Statement/NAV process, 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, Custodians, Investor Services, Auditors). The Fund Controller, Private Funds will report to the team’s Manager of the Private Funds’ Fund Control & Operations team.

RESPONSIBILITIES

• Assist with the quarterly NAV and financial statement process for assigned funds, reviewing work prepared by our third-party administrator, including:

• Complex private portfolio company and/or private credit transactions

• Distribution 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 fund governing documents

• Assist with the funds’ day-to-day operations

• Execution of capitals calls and distributions, facilitating internal and external communications throughout these processes, and reviewing calculations and notices produced by our third-party administrator

• Payment of fund fees and expenses

• Coordination of deal funding

• Assist with annual audit process for assigned funds, coordinating with fund administrator and auditors

• Assist Business, Investor Relations, Tax, 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

• Contribute to projects associated with the funds, Wellington’s operational and systems infrastructure, and service providers

• Develop and foster relationships with Wellington’s centralized teams and external service providers

QUALIFICATIONS

• Undergraduate degree in accounting or finance

• Progress towards a CPA, CFA, or MBA is strongly favored

• 3+ years of experience from a public accounting firm, alternative investment firm, and/or fund administrator

• Experience in private equity fund accounting and operations is preferred but not required

• Advanced Excel skills are required

• Experience with or a desire to develop skills in Tableau, PowerBI, Alteryx is strongly favored

ATTRIBUTES