Director of Accounting

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: Ensure flawless, high-quality delivery of end to end fund accounting and back office operations across multiple pods.

  • Fund Accounting: Hands-on keys fund accounting processes, e.g. preparing financial statements, waterfalls, LP reporting needs, and any client deliverables.

  • Technical Mastery: Serve as an expert in private markets operations and fund accounting by supporting all client needs and guiding the team.

  • Accuracy: Ensure that fund administration deliverables are generated accurately, in a timely manner, and consistent with the scope of work. 

  • Partner to Product Development Team: Identify, propose and adapt innovative technology solutions to deliver service and operational efficiency

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

  • Audit/Tax: Manage, oversee and approve the year-end audit process and tax process.

• Team Development, Culture and Professional Success: Accountable for the team's professional success and well-being, fostering a positive, high-performing culture that is reflected in promotions and positive client feedback. 

  • Team Strategy and Build: Attract, develop and manage A-players, ensuring a culture of high performance and accountability. 

  • Mentorship and Growth: Actively develop and mentor team members.

  • Culture Carrier: Serve as the steward of Formulary’s culture, ensuring a positive and inclusive work environment as evidenced in high retention. 

• Client Service: Responsible for developing and growing strong client relationships.

  • Thought Partnership: Serve as a thought partnership to general partners and limited partners.

  • Growth: Scale the business by servicing more clients while maintaining a very high bar for client satisfaction and excellence.

What You Need

• 8-12+ years of fund accounting impact and experience in venture capital, growth equity and / or private equity asset classes. 

• Demonstrated track record of impact and held a management position at a leading fund administration services firm. 

• 5+ years of experience hiring, managing and developing a team of fund accountants, inclusive of managing a team of entry level and experienced fund accountants.

• CPA or equivalent accounting degree.

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

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

• Extensive 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.

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

• Complete knowledge of the 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, 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