Accounting Manager

About Formulary Financial

Formulary Financial is building the world’s first AI-native, comprehensive fund administration services business. Formulary offers expert-driven services across the investment lifecycle—including accounting, reporting, compliance, audit, capital activity, and investor communications—powered by an AI-native platform designed to keep data accurate, synthesized, and accessible in real time. In less than a year, Formulary has grown to manage billions in assets on its platform across clients and design partners that represent some of the leading and largest asset managers worldwide.

Formulary is built by veterans in fintech, artificial intelligence and fund administration and is backed by premier investors, including Khosla Ventures, Acrew Capital, Company Ventures, Human Ventures, Serena Ventures, and Alumni Ventures, among other strategic partners and industry executives. 

Formulary is on a mission to transform fund administration from error-prone paperwork into data-driven intelligence and expert service for investors. By implementing a high-touch service delivery model, data systemization, and AI-powered solutions in fund operations, Formulary is taking on the defining challenges of the asset management industry. Private markets span thousands of GPs and trillions in assets under management; the industry stands at the brink of a seismic transformation driven by the convergence of evolving investor expectations and rise of emerging technologies.

The position requires a minimum of three days onsite.

What Impact You Will Own and Drive

• Fund Administration and Client Service Delivery: Responsible for end to end oversight and execution of all client deliverables and communications. 

  • Fund Administration Deliverables: Generate accurate, fund administration deliverables in a timely manner, and consistent with the scope of work. This includes generating reports and overseeing deliverables produced by other members of the team.

  • Partner to Product Development Team: Identify, propose and help launch automation and systemization improvements.

  • Compliance: Ensure all activities adhere to Formulary's internal standards, controls and industry requirements (regulatory, legal, tax, audit).

  • Master Complex Calculations: Generate and perform rigorously review waterfall distributions and capital calls/contributions, verifying adherence to the Limited Partnership Agreements (LPAs).

• Project and Team Management: Ensure that the teams are operating effectively and efficiently to deliver excellent client service.

  • Team Build: Participate in recruitment, development, and supervision of the staff accountant.

  • Operations: In-charge of the day to day with the staff accountant, email traffic, capital calls, and inquiries.

  • Mentorship and Development: Serve as a coach to other team members. 

• Client Service and Partnership: Nurture and maintain trust-based relationships with clients. 

  • Thought Partnership: Identify opportunities to serve as a thought partnership to general partners and limited partners.

  • Client Communications: Serve as the first line of defense for all client inquiries, needs, and opportunities.

What You Need

• 3-7 years of fund accounting experience in venture capital, growth equity or private equity asset classes. 

• Demonstrated impact at a leading fund administration services firm.

• 2+ years of experience hiring, training and managing a team of fund accountants, inclusive of managing a team of entry level fund accountants.

• Bachelor’s degree in accounting or a related field.

• A keen interest in using AI and machine learning to solve complex problems.

• Experience scoping out system requirements and implementing new systems

• Deep, practical experience with the entire investment lifecycle (from fund formation to fund dissolution) for venture capital, growth equity, and private equity asset classes.

• Strong knowledge of industry best practices for fund management and operations, including regulatory, tax, audit, compliance and other areas.

• Experience with Limited Partnership Agreements, LLC Operating Agreements, and other legal requirements. Understanding of traditional close-ended fund structures, SPVs, GP entities, blocker entities, parallel entities, and other investment structures (e.g. evergreen, master/feeder, and series fund structures)..

• Thorough understanding of GAAP (Generally Accepted Accounting Principles) and regulatory compliance, specifically as related to calculations and journal entries.

• Proficiency in preparing fund financial statements (Statement of Assets and Liabilities, Schedule of Investments) and comprehensive Limited Partner (LP) reporting, including capital account statements.

• Strong knowledge of tax, audit and compliance regulations and requirements.

• Experience with SOC 1 and SOC 2 controls to develop and maintain robust internal systems to ensure data security, operational reliability, and meet client audit requirements.

• Fluency with software solutions and openness to explore and adapt modern technologies and resources to deliver an enhanced and more efficient client service experience.

Extra / Bonus

• Demonstrated impact as a founding member of a fund administration services business. 

• Experience in leveraging AI/ML to solve different problems in fund administration. 

• Track record in achieving operational excellence and efficiencies through tech-enabled automation and systemization.

• CPA certification.

Who You Are

• You set high goals, are driven to become the best at what you do and do not settle.

• You put the needs, priorities and interests of clients at the heart of everything you do, never compromising customer experience for anything else.

• You nurture an environment that attracts, develops and empowers the brightest minds to collaborate and achieve audacious goals.

• You are mission-driven and motivated to build a category-defining business from scratch.

• You possess relentless drive, grit, and the inspiration to work at an early-stage startup.

• You act like an owner, deal well with ambiguity, and push for results without constant guidance.

• You are an ambitious problem-solver, balance speed and quality, and can effortlessly navigate complex situations.

• You value excellence, integrity, and the meritocracy of ideas.

• You are a strong communicator and collaborator who thrives in a hybrid work environment.

• You provide and receive feedback with honesty, care, and thoughtfulness.

• You are curious and have a rare growth mindset.

• You have a superior attention to detail and are committed to ensure accuracy and excellence in client service, experience, and deliverables. 

Why Join Our Mission

• Build an Industry-Defining Business: Play a key role in creating a groundbreaking fund administration services business that will reinvent the asset management industry.

• Partner with Experienced Leaders: Join a team of repeat founders, world-class fund administration experts, AI and asset management veterans, tier-one investors, and forward-thinking clients.

• Compensation and Equity: Competitive base salary, comprehensive benefits, and equity ownership in a high-growth, funded venture.

• Shape Culture and Values: Be part of an agile startup where your contributions directly influence the organization’s culture and long-term success.

Please email your resume to talent@formulary.co