Job Information
Neuberger Berman Private Credit Controller in New York, New York
Job Description
Summary:
NB Private Markets is a rapidly growing group within Neuberger Berman with over $120 billion of investor commitments across our private equity fund of funds, secondary investments, co-investment and direct investment areas, including alternative credit. NB Capital Solutions focuses on providing bespoke investment to private equity sponsors through structured equity, junior debt, convertible instruments and common equity. Due to the complex nature of the assets and funds that comprise NB Capital Solutions, the accounting, valuation and operations functions are critical control functions with respect to the business. This individual will bear day-to-day responsibility for managing the finance and accounting work streams within NB Capital Solutions.
Responsibilities:
Oversee all accounting functions for the capital solutions strategy, including but not limited to monthly performance estimates, close packages, NAV, allocations, waterfalls and fund returns
Work with portfolio management team to manage overall fund budget, liquidity; including credit facility and investor capital call timing
Responsible for working directly with banks and lenders on opening new bank accounts as needed
Creating new borrowing reporting for, covenants, liquidity requirements, and other items to satisfy facility terms
Oversee the investor reporting process, including monthly, quarterly investor statements, annual audited financials, K-1s, due diligence requests, and other ad hoc investor reporting requirements
Reply to investor queries around fund performance, NAVs, taxes, and other areas.
Oversight of the Fund Administrator responsible for the preparation of the quarterly financial statements, capital account statements, capital calls and distribution notices
Review and analyze distribution waterfalls based on fund legal documents
Review partnership and fund IRRs on a quarterly basis
Coordinate and complete the annual audit process and tax returns with the external auditor and tax preparer.
Produce management reporting such as AUM, revenues, and expenses for internal stakeholders
Coordinate with parent company’s compliance team to satisfy all regulatory reporting requirements, such as Form PF, ADV, etc.
Partner with the Portfolio Management team on overall business management and development including:
New fund/account structuring, allocation mechanisms, fee calculations
Responding to investor due diligence requests and attending investor meetings
Client regulatory requirements and balance sheet management
Investment structuring to minimize cash and tax drag (i.e. ECI and FIRPTA)
Determination of entity types to utilize based on an in-depth knowledge of legal, tax, and accounting considerations impacting various structures (partnerships, trusts, corporations, etc.)
Qualifications:
10-15 years’ experience in audit or asset manager
CPA, MBA or CFA a plus
Experience in credit or structured credit a plus
Experience designing and implementing new policies and procedures
Highly detail oriented and organized in work
Excellent communication and interpersonal skills with a customer service focus
Ability to act and operate independently with minimal daily direction from manager to accomplish objectives
Ability to work cooperatively and collaboratively with all levels of employees, management, and external agencies to maximize performance, creativity, problem solving, and results.
Compensation Details
The salary range for this role is $130,000-$170,000. This is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. This range is only applicable for jobs to be performed in New York City. An employee’s pay position within the salary range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, seniority, geographic location, performance, shift, travel requirements, sales or revenue-based metrics, any collective bargaining agreements, and business or organizational needs. This job is also eligible for a discretionary bonus. We offer a comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), life insurance and other benefits to eligible employees.
Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, production, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.
Neuberger Berman is an equal opportunity/affirmative action employer. The Firm and its affiliates do not discriminate in employment because of race, creed, national origin, religion, age, color, sex, marital status, sexual orientation, gender identity, disability, citizenship status or protected veteran status, or any other characteristic protected by local, state, or federal laws, rules, or regulations. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact onlineaccommodations@nb.com .
Learn about the Applicant Privacy Notice (https://www.nb.com/en/global/disclosure-privacy-policy) .
Founded in 1939, Neuberger Berman is a private, independent, employee-owned investment manager. From offices in 39 cities worldwide, the firm manages $439 billion in client assets (as of September 30, 2023) across a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally.
Tenured, stable and long-term in focus, the firm has built a diverse team—including 700-plus investment professionals and more than 2,700 employees in total—united in their commitment to delivering client outcomes and investment excellence. It is our people who define our culture and have enabled us to be recognized by Pensions & Investments as the first or second "Best Place to Work in Money Management” for last eight consecutive years (firms with 1,000+ employees).
Neuberger Berman believes strongly that all employees are entitled to be treated with respect and dignity, and to work in a professional and safe environment. These values are the cornerstone of our firm. We prohibit any form of harassment, whether mental, verbal or physical. We do not tolerate the support of terrorist groups, acts of terrorism, or threats of violence. All who wish to be employed by the firm are expected to uphold these principles.
For important disclosures: http://www.nb.com/linkedin