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Investment Partnerships Accounting Supervisor

Job ID: 6803

Updated: Aug 26, 2022

Location: Chicago, IL, United States

Category: Finance/Accounting

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About Kirkland & Ellis

At Kirkland & Ellis, we are united in our ambition and drive to move forward. We share core values that help us achieve excellence: collaboration, talent empowerment, service, inclusion, respect and gratitude. Our people are our greatest asset, and we invest in the brightest talent and encourage a diversity of perspectives and strengths to create dynamic teams that operate at the pinnacle of their field. Our talented professionals show up every day knowing they will engage in meaningful work, continuous learning and professional development.

As one of the world’s leading law firms, we serve a broad range of clients with market-leading practices in private equity, M&A and other complex corporate transactions; investment fund formation and management; restructurings; high-stakes litigation and trials; and government, regulatory and internal investigations. We handle the most complicated and sophisticated legal matters because we don’t just meet industry standards, we create them. We bring innovation and entrepreneurialism to every engagement and, as a result, have long-standing client relationships with leading global corporations and financial sponsors. With 6,500 employees (including 3,000+ lawyers) operating from 18 offices across the United States, Europe and Asia, we are one of the largest law firms in the world and a top financial performer.

Essential Job Functions

The Investment Partnerships Accounting Supervisor will work closely with our Investment Partnerships and Financial Accounting, Budget, & Controls groups.  The Investment Partnerships Accounting Supervisor will supervise the preparation and analysis of financial data for numerous private investment funds of funds. This individual will be responsible for the accounting and reporting functions related to the Firm’s private equity Investment Partnerships program, including financial reporting management and support of Fund Audits.

Essential Functions: (This list is not exhaustive and may be supplemented and changed as necessary.)

  • Prepare and review financial reporting and analysis, including, but not exclusive to quarterly and annual consolidated financial statements of numerous Investment Partnerships comprised primarily of limited partnership interests in private equity funds.
  • Provide proper accounting of multiple investment funds and related entities, including the review/preparation of all related journal entries, work papers, reconciliations, NAVs and trial balances required for periodic closes and annual audit.
  • Manage annual audit and other reporting processes with internal and external parties (i.e. investors, general partner, investment advisors, and outside accounting firms).
  • Develop sound operational processes for preparation of annual financial statements for delivery directly to the auditor in accordance with planned timeline. Train and manage direct reports to execute these financial statement processes with the assistance of internal and external parties (i.e. shared resources, outside accounting firms).
  • Serve as fund accounting subject matter expert for Investment Partnerships group with respect to ongoing investor reporting as well as capital calls, distributions, fund-level expenses, accruals, management fees and incentive fees.
  • Document accounting policy with respect to operational processes and reporting requirements in accordance with GAAP and industry best practice.
  • Prepare/review reconciliations of fund cash and investment positions; identify and communicate exceptions in reconciliations to Investment Partnerships group and lead resolutions.
  • Review data for quarterly investor statements; review and reconcile general ledger activity to investor statements.
  • Lead the implementation of new accounting software to automate reporting and ensure the ongoing operational and administrative reporting requirements are met for all parties.
  • Streamline and automate the reporting and functional processes where needed; enhance efficiency and effectiveness of the financial function; identify and develop improvements to internal processes.
  • Manage and develop direct report(s).
  • Special projects as needed.

Qualifications & Requirements

  • A Bachelor’s degree in Business, Accounting or Finance is required; CPA certification is strongly preferred.
  • A minimum of 7 years of accounting and/or audit experience; supervisory experience required
  • Significant experience in fund of funds accounting in a fast-paced, demanding environment and a general understanding of the private equity industry.
  • Experience in accounting for various types of entities including private equity funds, funds of funds (Master Feeder Structures, Standalone Entities, Side by Side and Segregated Portfolios).
  • Demonstrated analytical and organizational skills.
  • Adept at working in a fast-paced, deadline oriented environment.
  • This individual should be proactive, results oriented, and possess written and oral communication skills to clearly and concisely summarize conclusions and observations.
  • Ability to effectively prioritize workload.
  • Attention to detail and the eagerness to learn and to progress within a dynamic and growing environment are imperative.
  • The candidate must be confident working independently and often assertively.
  • The candidate must have a strong customer service orientation, good people skills, and a commitment to excellence.

Technologies/Softwares:

  • Strong knowledge of full MS Suite (Excel, Word, PowerPoint, etc) with advanced Excel skills and the ability to work with large data sets
  • Experience with Dynamo a plus

Work Environment:

  • This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, and filing cabinets.

How to Apply

Thank you for your interest in Kirkland & Ellis LLP.  To complete an application and submit your resume, please click "Apply Now."

Equal Employment Opportunity

All employment decisions, including the recruiting, hiring, placement, training availability, promotion, compensation, evaluation, disciplinary actions, and termination of employment (if necessary) are made without regard to the employee’s race, color, creed, religion, sex, pregnancy or childbirth, personal appearance, family responsibilities, sexual orientation or preference, gender identity, political affiliation, source of income, place of residence, national or ethnic origin, ancestry, age, marital status, military veteran status, unfavorable discharge from military service, physical or mental disability, or on any other basis prohibited by applicable law.

Closing Statement

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