Job Description

Job Description:

The Role

The Director, Alternative Accounting is a member of the FFIO Alternative Accounting Team and is responsible for overseeing all aspects of accounting operations across a wide range of product structures, including, but not limited to, Limited Partnerships, REITs, BDCs, Interval Funds and Crypto . The role requires expertise related to responsibilities including daily deliverable oversite, pivotal initiatives, business performance evaluation, and executive relationship management. You will work with other teams within FFIO as well as across the organization, collaborating with Asset Management, Legal, Risk, and Compliance on product launches, and build processes specific to fund record keeping, investor servicing, tax reporting, and financial reporting. Additionally, you will help to drive innovation to ensure the Alternative Accounting Team can support Fidelity’s growing Alternative product offerings.

The Expertise and Skills You Have

·Bachelor’s degree in finance/accounting or equivalent with 10+ years of experience in financial services with at least 3-5 of those years spent in Private Equity/Hedge Funds and Alternative Investments or Master’s degree with 8+ years of experience in same.

• Strong understanding of the alternative fund industry, including private equity and hedge fund products, including BDCs, REITS

• Experience with multi-layered fund structures as well as working knowledge of derivatives and direct debt, a plus.

• Strong understanding of partnership accounting, investor allocations, and complex investor level management fee and incentive fee calculations

• Experience supporting fund level back-office operations as well as portfolio expense caps, recoupments, and revenue share agreements.

• Experience with Geneva and Geneva World Investor preferred.

• Outstanding analytical, communication, conceptual thinking, project management, and problem-solving capabilities. Flexibility and the skill to both lead and contribute to teams are musts.

• Strong communication skills with the ability to develop and deliver cogent, insightful presentations to all levels of finance and business leadership.

• Presence and judgment to put forward well-reasoned recommendations and engage in dialogue with key decision-makers.

• Understanding of financial and accounting principles and how to apply them in business.

Strategic Problem Solver Who Focuses on Innovation

• Provide guidance based on experience and knowledge with product development, implementation, and ongoing accounting operations of various alternative products including open and close ended partnerships.

• Creates operational processes and procedures for new funds & products.

• Participates in and executes strategy and initiatives set forth by senior leadership.

• Coordinates testing of new technology prior to roll out into production and reports results to peers and managers.

Encourage and Empower Others & Develop Talent

• Provides feedback, direction, and assists in development of team.

• As subject matter expert ensures proper in-depth training of analysts within team.

• Values and rewards contributions, drive, initiative, and achievement of results

Lead by Example & Drive Results

• Perform detailed review of activity within the portfolios, inclusive of fund level trading and expense activities and investment valuation as well as investor level allocations and complex management and incentive fee expense calculations.

• Provides technical leadership and acts as a technical resource to the Alternative Accounting team as well as other business units within Fidelity.

Collaborate & Build Key Partnerships

• Assist with quarterly financial statement preparation, annual tax & audit reporting, and risk & compliance inquiries.

• Coordinates and manages departmental workflows.

• Monitors and assesses the department’s control environment; identifies potential issues and their impact on internal controls and drives a course of action to mitigate risk.

• Escalates operational incidents to senior management and Risk team; manages resolution processes.

• Leads and maintains relationships with business partners and expectations of service levels.

The Team

The Alternative Accounting Team is part of the Fund Operations division within Fidelity's Fund and Investment Operations (FFIO) business unit. The Fund Operations division provides back office operational support to Fidelity Retail and Institutional products, including books and records maintenance, securities' pricing, fund and security level performance analysis, financial reporting, and tax work. The FFIO Alternative Accounting Team performs the daily, monthly, and quarterly pricing and bookkeeping for Fidelity’s alternative products, including fund structures with varying complexities with strategies focused on digital assets, distressed debt, direct lending, derivatives, private equity, and real estate.

Certifications:

Company Overview

Fidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients’ money.

Join Us

At Fidelity, you’ll find endless opportunities to build a meaningful career that positively impacts peoples’ lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a Glassdoor Employees’ Choice Award , we have been recognized by our employees as a top 10 Best Place to Work in 2024. And you don’t need a finance background to succeed at Fidelity—we offer a range of opportunities for learning so you can build the career you’ve always imagined.

Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite all business days of every other week in a Fidelity office.

At Fidelity, we value honesty, integrity, and the safety of our associates and customers within a heavily regulated industry . Certain roles may require candidates to go through a preliminary credit check during the screening process. Candidates who are presented with a Fidelity offer will need to go through a background investigation, detailed in this document , and may be asked to provide additional documentation as requested. This investigation includes but is not limited to a criminal, civil litigations and regulatory review, employment, education, and credit review (role dependent). These investigations will account for 7 years or more of history, depending on the role. Where permitted by federal or state law, Fidelity will also conduct a pre-employment drug screen, which will review for the following substances: Amphetamines, THC (marijuana), cocaine, opiates, phencyclidine.

We invite you to Find Your Fidelity at fidelitycareers.com .

Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.

Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Accommodation Team by sending an email to accommodations@fmr.com .

We welcome those with experience in jobs such as Accounts Payable Clerk, Billing and Posting Clerk, and Accountant and others in the Accounting and Finance to apply.

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