Analyst, Fund Management - BDC at Carlyle Investment Management, LLC in New York, New York

Posted in Other 5 days ago.





Job Description:

Responsible for assisting in all aspects of the accounting and fund management of the BDCs on the Carlyle Direct Lending platform ("CDL"), which is Carlyle's direct lending business unit that operates within the broader Carlyle Global Credit segment.


This individual will coordinate and manage the review of the accounting close packages for Carlyle's BDCs, including liaising with front office professionals and conducting detailed valuation reviews and tie outs of senior loans (marked via model) and any opportunistic credit investments (marked to model, pricing services and/or broker quotes). The valuation review will also include performing subsequent event review and summarizing impacts for the individual's supervisor; facilitating the Independent Valuation Firm's review of valuations and analyses directly with front office professionals; reviewing valuations, including reviewing assumptions and conclusions and working with front office professionals to make adjustments as needed; and preparing the valuation materials for the Valuation Committee and Boards of Directors. This role therefore requires careful attention to detail and a solid understanding of valuation techniques for both liquid and illiquid credit products.


This individual is expected to review closing packages in detail in conjunction with the junior analyst, with a thorough understanding of various accounting related considerations, including the effective interest method of amortization of discount, PIK accrual, incentive fees, credit facility costs accrual, budget to actual expense accrual adjustments and reforecasts, consolidation/elimination entries for wholly-owned subsidiaries, and accounting for multiple credit facilities. This individual also will assist with amendments to credit facilities as such occur. This individual is expected to work closely with the TPA on any adjustments needed to the closing packages, review tie-out packages done by the junior analyst and help resolve escalated issues.


Once all aspects of the closing packages are reviewed and analyzed, this individual will review the tie-out of the quarterly financial statements (10-Qs and 10-Ks), including financial highlights and MD&A, and work with the junior analyst to communicate changes to the TPA. This individual will also help coordinate the production calendar for TPA, CDL Front Office, CDL Operations Teams and the auditors in order to meet corporate timelines for quarterly close. This individual will be consistently challenged to streamline the TPA and CDL data-warehouse processes to create further efficiencies within CDL in areas such as valuation, compliance, close, ENI/other corporate deliverables. This individual will also review quarterly tax diversification, income and distribution tests and annual tax returns, working closely with the TPA directly to correct any errors, and will be closely involved in the review of pre-trade compliance deal input, including working with the CCO on real-time stats for pre-trade compliance and deal allocation. This role will require detailed review of a variety of due diligence materials, including validation of performance data for fundraising and investor reporting purposes and regular coordination with front office and investor relations professionals.


This individual will be involved in investor capital calls and distributions, which require detailed review of allocations and merged capital call and distribution notices in coordination with the TPA. This individual will be responsible for timely posting of these notices, as well as quarterly account statements, to the investor portals. This individual will oversee maintenance of the income/dividend forecast model for projecting net income and dividends, including tracking book-to-tax differences. Additionally, this individual will be in charge of management company accounting for revenues, expenses and placement fee arrangements, as well as reviewing coding of invoices in the expense payment system and coordinating payment of direct third party expenses and reimbursements to the Investment Manager.


This individual will coordinate EY's (external auditor) quarterly review work, AUP and annual audit, working directly with EY throughout the audit to provide support for audit inquiries and manage timely delivery of signoff, as well as serving as the key point of contact for internal audit and EY for the firm's SOX assessment. This individual will be central in the documentation of controls effort, including taking charge of performing the key controls timely and coordinating the documentation of key controls with the team, as well as developing and enhancing control environment.


This individual will coordinate and detail review credit facility deliverables, including servicing report, borrowing base, financial covenants, collateral quality tests, quarterly waterfalls, etc. and coordinate borrowing and repayment requests internally and with the lender groups frequently as needed.



Auto req ID

1768BR



Qualifications


  • Bachelor's degree in Accounting

  • CPA preferred

  • 4-5 years related experience required

  • Big 4 accounting firm background a plus

  • BDC experience required

  • Strong knowledge of closed-end and regulated investment funds and US GAAP/SEC reporting requirements

  • Proficient in Microsoft Word, PowerPoint and Excel

  • Knowledge of advanced features in excel (e.g. Macros, V-look ups) a plus

  • Attention to detail

  • Self-starter

  • Time management/prioritization

  • Interpersonal skills and a team player

  • Organizational skills

  • Planning skills






Business Title

Analyst, Fund Management - BDC



Key Duties/
Responsibilities


Accounting for the BDCs


  • Coordinate the production calendar to meet corporate and investor deadlines and identifies ways to further streamline the TPA and CDL data-warehouse processes

  • Coordinate and manage review of the accounting close package from TPA

  • Manage and review TPA to ensure accurate processing of activity, timely receipt of deliverables, accuracy of NAV reporting and financial statements, and accuracy of investor notices and reporting

  • Interface with auditors in all quarterly review and audit coordination and completion as well as for the SOX assessment

  • Review the tie-out of financial statements and assist in implementation of new accounting requirements with auditors and TPA

  • Assist to generate and coordinate other corporate deliverables such as ENI forecasts and AUM reporting

  • Coordinate and detail review valuations, including Independent Valuation Firm review subsequent event review and prepare valuation materials for the Valuation Committee and Board of Directors.

  • Coordination and oversight of the quarterly credit facility waterfall payment file review

  • Coordinate and detail review credit facility reporting and compliance

  • In charge of management company accounting including revenue recording and expense and accruals review, as well as reviewing coding of invoices in the expense payment system and coordinating payment of direct third party expenses and reimbursements to the Investment Manager

  • In charge of overseeing maintenance of the income/dividend forecast model for projecting net income and dividends, including tracking book-to-tax differences



Investor Reporting/Presentations for the BDCs


  • Coordinate and review all investor reporting as required (i.e. capital accounts, investor communications including capital calls and distributions notices, due diligence presentations, performance, etc.)

  • Retrieve and compile relevant financial information for investor correspondence

  • Preparation and/or review of investor presentations and responses to investor inquiries and requests

  • Ensure the LP reporting website is updated timely with documents as necessary



Review Tax for the BDCs


  • Review quarterly and annual RIC tests (tax diversification, income and distribution tests)

  • Review annual tax returns



Other


  • Handles EY quarterly review and annual audits and handles SOX, including documentation for BDCs

  • Coordinate borrowing and repayment requests internally and with the lender groups frequently as needed

  • Review of pre-trade compliance deal input, including working with the CCO on real-time stats for pre-trade compliance and deal allocation

  • Assist in improving efficiency through technology

  • Assist in a wide variety of projects as reasonably assigned






Company Information

The Carlyle Group (NASDAQ: CG) is a global investment firm with $246 billion of assets under management and more than half of the AUM managed by women, across 397 investment vehicles as of December 31, 2020. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world's largest and most successful investment firms, with more than 1,800 professionals operating in 29 offices in North America, South America, Europe, the Middle East, Asia and Australia. Carlyle places an emphasis on development, retention and inclusion as supported by our internal processes and seven Employee Resource Groups (ERGs). Carlyle's purpose is to invest wisely and create value on behalf of its investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Carlyle invests across three segments - Global Private Equity, Global Credit and Investment Solutions - and has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.



Job Function

Finance