Assurance Manager - Asset Management / Private Equity

Asset Management And Private Equity Funds Assurance Manager

BDO's Asset Management and Private Equity Funds practice is a dynamic and rapidly growing practice nationwide, focused specifically on private equity funds, venture capital funds, small business investment companies (SBICs), real estate funds, hedge funds and other alternative investment vehicles.

The Assurance Manager is responsible for managing financial statement audit engagements for private equity funds and serving as a leader of the Financial Services practice. This role is responsible for developing suggestions to improve client internal controls and accounting procedures, as well as advising clients on various economic and regulatory risks in a specific industry field of expertise by identifying financial and non-financial performance measures, formulating and communicating the audit plan, answering complex questions involving GAAP and GAAS and composing technical consultation memos on engagements related to GAAP and / or GAAS issues. The Manager is charged with maintaining key client relationships and acting as the primary contact for clients regarding complex questions and information. The manager will also support the team with active involvement in business development, training and networking activities.

Additionally, this role is a critical part of the office Assurance leadership team, and is involved in the direct supervision, problem resolution and delegation stages of the overall audit.

Job Duties

• Control Environment :

Applies advanced knowledge and understanding of the collective effect of various factors on establishing or enhancing effectiveness, or mitigating the risks, of specific policies and procedures.

Applies an advanced understanding of objectives and components of the overall control environment and organization, and supervisory controls

Validates and assesses effectiveness of internal control over financial reporting

Identifies and communicates to management and audit committee suggestions to improve client internal controls and accounting procedures

Identify and delegates functions of the audit to the auditor in charge as deemed appropriate

Supervises the work of audit team and review workpapers and conclusions preferably onsite during audit field work

Provide on-the-job-training to the engagement staff during audit field work

GAAP :

Applies advanced knowledge and understanding of governing principles; applying these principles to client transactions; and documenting and communicating an understanding and application of these principles.

Identifies and consults with clients on the impact of new accounting pronouncements

Presents and discusses alternative application of generally accepted accounting principles and arguments for / against such alternatives

Drafts complex financial statements and related footnote disclosures and effectively communicates these to client

Identifies complex accounting issues and forms and documents resolution, seeking counsel of BDO technical experts as needed

SEC and PCAOB :

Applies advanced knowledge and understanding of SEC regulations and PCAOB guidelines, and documents and communicates the application of these principles.

Reviews SEC filings, including MD&A, financial statements and disclosures for appropriateness in form, content, completeness, and accuracy, and ensures that quarterly reviews are properly performed

Reviews required communications to the client and Audit Committee, ensuring their completeness, accuracy and compliance with Firm and professional guidelines

Reviews Section 404 internal control audit work to ensure their completeness and compliance with Firm and professional guidelines

Ensures compliance with engagement independence requirements and consults internally as needed

GAAS :

Applies advanced knowledge and understanding of professional standards; application of the principles contained in professional standards; and the ability to document and communicate an understanding and application of professional standards on an engagement.

Applies advanced knowledge of professional standards / practices, including GAAS and PCAOB in performing and supervising work

Provides guidance to others and affirms conclusions made by others

Communicates matters required to be reported to the Audit Committee / Board and those charged with governance

Applies the use of efficiency tools such as statistical sampling, CAATS, etc.

Methodology :

Applies advanced knowledge and application of BDO standards, policies and technology that guide effective and efficient delivery of quality services and products.

Conducts detailed review to assure audit is completed in accordance with assurance manual standards

Prepares or reviews required communications to management and audit committees, ensuring timeliness and completeness

Recommends appropriate outcomes to critical issues

Initiates and prepares client acceptance / retention procedures where appropriate

Plans the audit process and oversees the execution of procedures with quality, efficiency, and completeness despite pressures of deadlines

Executes proper BDO methodology including but not limited to proper archiving procedures

Considers Sarbanes-Oxley rules in understanding and executing service plans for combined 404 and financial statement audits for public clients

Research :

Applies methodology used to seek or maintain information from authoritative sources and to draw conclusions regarding a target issue based on that information.

Defines methodology to conduct research projects and completes in a timely manner

Applies advanced knowledge of all appropriate research tools and draws conclusions based upon appropriate research

Prepares memo supporting research / conclusions and consults with others if appropriate

Presents issues to RTD or concurring reviewer effectively and accurately

Manages engagement profitability, including billings and collections, and maintaining engagement team focus on productivity and efficiency

Assists with marketing and business development for the Asset Management group

Other duties as required

Supervisory Responsibilities :

Sets the tone for teamwork by supporting others in their work and delivering on commitments made to the team members and clients

Supervision of associates and senior associates on all projects

Review work prepared by managers, associates and senior associates and provide review comments

Act as a Career Advisor to associates and senior associates

Schedule and manage workload of associates and senior associates

Provide verbal and written performance feedback to associates and senior associates

Teach / coach seniors and associates to provide on the job learning

Qualifications, Knowledge, Skills and Abilities :

Education :

Bachelor's degree in Accounting or equivalent, required

MBA or Master's degree in Accounting, preferred

Experience :

Five (5) or more years work experience, required

Significant supervisory experience, required

Two (2) or more years of team lead or in-charge experience overseeing staff on multiple engagements, preferred

Experience in valuation of portfolio companies (i.e. level 3 investments), preferred

Experience in valuation methodologies and waterfall calculations, preferred

Experience auditing private equity and / or venture capital funds, preferred

License / Certifications :

CPA or international equivalent, required

Software :

Experience in the use of various assurance applications and research tools, preferred

Microsoft Office Products, specifically Windows, Word, Excel, and PowerPoint, preferred

Language :

N / A

Other Knowledge, Skills & Abilities :

Knowledge of partner capital allocations and computations

Knowledge of management and incentive fee and carried interest calculations

Awareness of tax issues impacting private equity funds

Awareness of regulatory issues impacting private equity funds

Ability to demonstrate strong leadership skills and be a role model to managers and staff

Advanced GAAP and GAAS knowledge

Sound working knowledge of SEC and PCAOB rules

Possesses excellent verbal and written communication skills

Possesses excellent people development and delegation skills, including training / instruction and engagement scheduling and budgeting

Possesses executive presence, with the ability