i80 Group is a specialty finance investment manager, providing capital and support to breakthrough fintech and proptech companies. We provide creative and flexible asset-based facilities used to fund the origination of loans and other collateral. We typically work with companies to provide financings starting at $25mm and scaling significantly thereafter.
i80’s capital is a complement to institutional equity (VC/PE). Whereas equity is typically used to finance the underlying operating business, i80’s credit is used to cost-effectively originate collateralizable assets (real estate, equipment, receivables, loan pools, etc.). Rather than offering a one-size-fits-all structure, we design bespoke solutions specific to the unique needs of our partners.
About the Director/VP Role:
The Firm is seeking a Director of Finance. This new hire will be a senior member of the organization. Key responsibilities will include managing many non-investment functions of the organization including finance and operations.
The candidate will be responsible for liaising with and managing all vendor arrangements across the Firm. The ideal candidate will have strong organizational skills and a prior experience in the management of investment adviser operations.
Responsibilities:
- Oversight of all financial, operations functions for the Firm
- Introduce and implement best-in-class processes and systems that can support further Firm growth
- Oversee the management company books and records including budgetary planning, cashflow/P&L accounting and client billing and reporting
- Management of service provider relationships including the Administrator, Custodians and Auditors
- Oversee the Administrator and internal accounting records and reporting of the funds and investment vehicles
- Negotiate and ensure timely renewal of all vendor agreements
- Participate in operational due diligence efforts with investors
- Work with the Firm principals to guide the overall strategy of the organization
Experience
- 12+ years of experience with an investment adviser/private credit fund as a controller
- Leadership skills necessary to manage organizational changes and new system implementations
- Demonstrated experience in problem solving
- Strong analytical and organizational skills
- Advanced knowledge of Excel, PowerPoint and the overall Microsoft office suite
- Understanding of the securities industry including SEC regulations applicable to a Registered Investment Adviser
- Superior written and verbal communication skills
- Ability to multi-task and willingness to accept any task that will benefit a growing organization
- Willingness and ability to communicate and operate at a strategic Firm level and also operate and work in the operational weeds
Detailed Duties (supported by controller):
Accounting Responsibilities
- Client financial statement preparation
- Investor allocations, including calculation of management and incentive fees
- Portfolio position valuation
- Bank and account reconciliations
- Personal financial statement preparation
- Tax allocations
- Tax workpaper preparation
- Expense management and payment
Cash Management:
- Maintain cash registers for multiple entities, families and accounts using Quickbooks
- Prepare periodic cash reports
- Reconcile monthly bank statements to registers
- Prepare and process invoices for payment
- Prepare capital calls for investments
Management Company Accounting:
- Prepare monthly/quarterly financial statements for management companies, investment partnerships and GP entities.
- Maintain chart of accounts for various entities within Quickbooks
- Prepare periodic personal financial statements
Tax:
- Help coordinate quarterly filings: NYC UBT, Individual estimates
- Prepare 1099’s for entities as required
- Individual and entity tax workpaper preparation
- Prepare tax estimates and associated quarterly payments
- Individual and Entity Tax return review
What We Offer
- $175k + Bonus (Total compensation commensurate with experience)
- Medical, Dental, and Vision plans
Application Form