Private Equity Finance Manager recruitment
The Private Equity business provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs.
Private Equity Finance provides full end-to-end financial control and product control support to the various private equity investment businesses within the bank across Mid-Market and Infrastructure, Natural Resource Investments, Principal Investments and Leveraged Finance Equity Co-invest.
This role is for a VP to head up the Natural Resource Private Equity Financial Control team.
This team is a commodities-focused private equity business, investing in global natural resources by finding and partnering with specialist operational management teams with specific sector expertise and experience, primarily in upstream oil gas, mining, and power, including renewables. The area typically commits US$50–100m to each investment, which is structured as a line of equity to a newly established portfolio company, whereby management teams identify potential asset and transaction opportunities. This is a relatively new private equity business within the bank but has expanded rapidly, has ambitious growth plans and has a strong pipeline of deal flow activity. The business currently has circa $1bn committed across approximately 20 portfolio investments and has substantial investment capacity.
Main Function
This Finance team is a small team of five and forms part of the larger Private Equity Finance business within the Financial Control function. The team provides financial control support for the private equity businesses at each stage of the investment lifecycle, for example:
- Investment Appraisal - accounting and valuation guidance in investment structuring
- Portfolio management - quarterly impairment and valuation reviews, portfolio analysis and provision of comprehensive management information for the business and senior finance management
- Financial Control - preparation of management, statutory and regulatory reporting; maintenance of a robust control environment
- Investment Realisation - accounting advice on exit or restructuring, reporting of investment performance, review of distribution proceeds
Main Duties
- The role will encompass responsibility for a number of key areas, including:
- Management and prioritisation of the team and its workload. The team's workload includes the maintenance of the books and records of the business, annual statutory accounts and regulatory filings for approximately 25 entities, the provision of management information to the Front Office, as well as numerous varied ad hoc work streams.
- Working closely with the business to develop value add relationships, develop solutions and manage expectations
- Review of significant new transactions and exits
- Review and challenge of portfolio investment valuations
- Heavy involvement in an on-going IT project to automate the books of the business within an IT system
Candidate Requirements
Essential:
- Qualified accountant (academically or by experience) with a strong grasp of IFRS and financial control experience.
- Experience of managing a small finance team.
- Strong interpersonal skills and gravitas - good communicator, comfortable resolving issues with senior management and the business.
- Excellent problem solving, time management and prioritisation skills.
- Ability to take ownership and responsibility of issues and see them through to resolution.
- Excellent ability to review and challenge financial information and valuations.
- Awareness of an effective internal control environment.
- Ability to get into the detail of a transaction when required.
- The desire to challenge existing processes and the ability to identify and resolve control gaps.
Preferred:
- Knowledge of private equity industry and fund structures
- Exposure to investment banking environment
- Understanding of the regulatory capital framework
Keywords: Financial Control, Private Equity, Hedge Funds, Venture Capital, Investment Banking, Commodities, Investment, Portfolio Management, Management, entities, ACA, ACCA, CA, CPA, CIMA, Qualified, Accountant, IFRS, Funds.