Controller - Specialty Finance

Company: Neuberger Berman
Location: New York
Posted on: September 21, 2023

Job Description:

Information regarding Neuberger Berman's privacy policy is available under Important Links on http://www.nb.com . Controller - Specialty Finance page is loaded Controller - Specialty Finance Apply locations New York, NY time type Full time posted on Posted 2 Days Ago job requisition id R0008068 Summary:NB Private Markets is a rapidly growing group within Neuberger Berman with over $100 billion of investor commitments across our private equity fund of funds, secondary investments, co-investment and direct investment areas, including alternative credit. NB Specialty Finance focuses on financing originators of high yield short duration debt, including consumer and small business loans/receivables, via credit facilities, whole loan purchases, corporate debt and equity. Due to the complex nature of the assets and funds that comprise NB Specialty Finance, 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 Specialty Finance. - Responsibilities:

• Oversee all accounting functions for the specialty finance 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+ years' experience in audit or asset manager
    • CPA, MBA or CFA a plus
    • Experience in credit, structured credit, whole loans, mortgages 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 DetailsThe salary range for this role is $135,000-$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 . About Us Founded in 1939, Neuberger Berman is a private, independent, employee-owned investment manager. From offices in 39 cities worldwide, the firm manages $408 billion in client assets (as of September 30, 2022) 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 7 00-plus investment professionals and more than 2,600 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). EQUITY, INCLUSION & DIVERSITYNeuberger Berman strongly embraces the principles of Equity, Inclusion and Diversity ("EID") - they are deeply engrained in our culture and are a fundamental part of our long-term business strategy. We firmly believe in fostering an environment, in which all of our people are respected and have an equitable opportunity to flourish and be their best selves. We believe having a diversity of perspectives strengthens our ability to deliver attractive outcomes for our clients and makes us a better organization.
      • Empowering is about our people having a voice and the ability and autonomy to contribute materially to the firm. As an employee-owned firm, we lean heavily on employee feedback and guidance, including through a series of surveys (e.g., our anonymous employee engagement survey and topic specific pulse surveys). We also provide many opportunities to contribute outside of the day-to-day, including through cross functional committees and firm-wide projects.
        • Developing is about our people having the resources, tools, and experiences to grow professionally and personally. As part of this, our colleagues and managers can leverage a broad array of offerings on our HCM Learning platform as part of a personalized career path plan that focuses intently on individual circumstances and objectives.
          • Supporting is about our people having the opportunity to be themselves, connect within NB and live a balanced life. Our Employee Resource Groups help to drive a greater sense of fellowship and build stronger connections across our firm. Through NB Wellness, NB Impacts (philanthropy) and Employee Investment Solutions (financial wellness), we take a holistic approach to ensure our colleagues have the resources they need to realize their personal goals.Our people and our culture are our greatest assets. We remain deeply committed to our EID values and to ensuring Neuberger Berman remains a best-in-class place to work. For important disclosures: http://www.nb.com/linkedin
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Keywords: Neuberger Berman, New York , Controller - Specialty Finance, Accounting, Auditing , New York, New York