Title

Assistant Controller / Controller (depending on experience level)

Company

Established in 2016, LightBay Capital is a Los Angeles-based private investment fund with over $650 million of committed capital. We apply a flexible capital approach to middle-market investing, and are primarily focused on the consumer, healthcare, and business services industries. LightBay invests across the capital structure and in all market environments to help accelerate the growth of high-quality companies. For more information, please visit www.lightbay.com.

Responsibilities

This person will report to the CFO / CCO and will have responsibility for all of Firm’s current and future fund partnerships, investment vehicles, co-investment and management company entities. This is a highly visible position with interactions with the senior members of the organization, in addition to working closely with the internal deal teams, third-party service providers, limited partners, legal counsel, auditors, vendors and other outside relationships. This position offers a great opportunity to gain a broad range of experience within a private equity firm. You will be a part of an energetic team with the ability to contribute to a growing, entrepreneurial firm.

Primary responsibilities include:

  • Oversee the preparation of deadline-driven reporting processes, including financial statements, partner allocations, capital account statements and portfolio company valuations.
  • Actively manage the relationship and workflows with the Firm’s Fund Administrator.
  • Manage the process for delivering quarterly and annual investor reports, K-1s and other ad-hoc communications.
  • Create and manage internal financial controls and accounting procedures in accordance with U.S. GAAP.
  • Analyze complex partnership agreements for thorough understanding of reporting requirements and partner economics.
  • Manage investor capital calls and distributions.
  • Review waterfall, management fee and expense allocation calculations in accordance with partnership agreements.
  • Manage each fund’s portfolio valuation process, work with deal teams and external third-party valuation consultants to manage and review fair market value of investments.
  • Ensure accuracy for fund and investment performance tracking.
  • Respond to investor requests in a professional and timely manner.
  • Responsible for budgeting and cash flow forecasting for the management company.
  • Interface with deal execution professionals and portfolio company peers, as needed, to effectively meet the requirements of the position.
  • Manage annual audit processes.
  • Oversee the preparation of fund and holding company tax returns.
  • Assist in preparation of SEC Form ADV and Form PF on behalf of the registered investment advisor.
  • Manage and maintain the firm’s accounting and reporting technologies.
  • Monitor cash positions in management company and fund entities and prepare lender reporting packages as required.
  • Prepare invoices for portfolio company fees, reimbursable expenses, and consulting fee engagements.
  • Review, process, and pay vendor invoices for both the management company and the fund, ensuring documentation and approvals are received and that transactions have been coded and accounted for properly.
  • Review employee expense reports and ensure compliance with firm policies.
  • Maintain vendor records in electronic form, including all data required for 1099 reporting.
  • Regularly evaluate internal controls and implement process improvements, including streamlining financial reporting processes.
  • Support internal reporting requirements and other special projects / ad-hoc requests, as needed.

Personal Attributes

  • A shared belief in our culture of collaboration, empowerment, and community.
  • Outstanding organizational skills, able to multi-task and manage various deadlines.
  • Able to work as part of a team or independently, adaptability and responsiveness in an entrepreneurial environment.
  • Unquestionable business ethics and integrity.
  • Demonstrated leadership and team management skills.
  • Highly motivated, strong work ethic, keen eye for continuous process improvement.

Qualifications

  • Bachelor’s degree in Accounting or related field from top college/university.
  • Seven to ten years of experience in public/private accounting in the financial services industry, private equity partnership accounting experience highly preferred.
  •  CPA or equivalent required.
  • Strong knowledge of U.S. GAAP accounting principles, the principles of private equity partnership accounting and taxation, valuation of privately-held companies, complex waterfall and carry calculations, partner allocations, master-feeder and blocker structures, investor reporting and management company accounting.
  • Excellent quantitative and problem-solving skills, good attention to detail.
  • Advanced Excel skills (e.g., complex formulas, macros).
  • Strong written and verbal communication skills; able to analyze and summarize complex information both verbally and in writing.

Compensation

LightBay offers a competitive compensation and benefits package.

For consideration, please submit your resume to BuildMyCareer@LightBay.com.