The Accounting Manager, Operations plays a vital role in our Foundation Accounting team. You thrive in a structured environment, delivering high-quality, precise work based on established standards and procedures. You're involved in managing complex assets and financial transactions to ensure accurate accounting and tax treatment; supporting the onboarding of existing foundations onto the Foundation Source platform; and reviewing all alternative assets, including K-1s reporting for accuracy.

Success in this role requires patience, strong leadership qualities, meticulous attention to detail, and a commitment to consistent, error-free work in a mostly remote setting. The Accounting Manager, Operations reports directly to the Head of Tax and Accounting.

Key Responsibilities:

Manage and Carry Out Alternative Asset Process (30%)

• Oversee process of review and recording of all alternative assets ensuring accuracy and compliance.
• Establish process and protocols for booking and recording all alternative assets to ensure accuracy and compliance.
• Using regular meetings, materials, and training, work with stakeholders (management and teams) in other departments (including Tax, Accounting, Finance, and Client Services) to ensure assets are booked properly, timely, and in accordance with internal SLAs.
• Responsible for working with Product and Development team to explore technology improvements related to Foundation Source’s Alternative Asset Matrix, K-1 Matrix, 990PF Tax Matrix, and other proprietary modules.
• Ensure appropriate valuation methodologies are used for alternative investments in accordance with accounting and tax principles.
• Identify accounting issues, process improvements, and automation opportunities within alternative asset workflow (including K1s).
• Coordinate Foundation Source’s K1 Process across 2,000+ partnership holdings. Manage recording of K1 data entries and all associated transactions for completion and accuracy.
• Complex assets held by private foundations include, but are not limited to:

Partnerships Interests (foreign and domestic)

Private Equity

Hedge Funds

Real Estate

Private Credit

Debt Instruments

Commodities

Derivatives

Liabilities

Promissory Notes

Mortgage Loans Receivable

Options

Exempt function assets and activities

Program related investments

Other Illiquid or Non-Traditional Investments

Complex Financial Transaction Management (30%)

• Responsible for the process of recording and reviewing complex financial transactions across various asset types, applying technical expertise to determine proper accounting and tax treatment.
• Complex assets and/or transactions include, but are not limited to:

Margin

Corporate actions

Negative cash

Purchased interest

UBTI classification

Options

• Review all transactions related to complex assets, including basis, capital contributions and distributions.
• Identify best practices, processes, and technology for booking and tracking complex transactions.
• Responsible for process by which we obtain, process, review, and record investment documentation or supporting documents for financial transactions.

Valuation reports

Capital account statements

Prospectuses

Private placement memorandums

Subscription agreements

Side letters

Settlement sheets

Closing statements

Purchase agreements

• Assist with the onboarding of existing foundations, focusing on a smooth transition by ensuring all financial data is accurately integrated into the Foundation Source platform.
• Create tools, such as onboarding questionnaire and new-asset client questionnaire

Finance, Tax, and Accounting Management and Process Support (20%)

• Partner with team responsible for onboarding financials of private foundations
• Work with fellow leaders in client service, finance, tax, and accounting teams to ensure a streamlined and cohesive approach to client service.

Leadership & Team Development (10%)

• Lead, mentor, and develop accounting staff through coaching, performance feedback, and career planning
• Establish training programs and development plans to strengthen technical and professional skills
• Foster a culture of accountability, collaboration, and continuous improvement
• Conduct performance evaluations and support goal setting aligned with organizational objectives

Direct Client Support (10%)

• Serve as subject matter expert resource to clients and colleagues alike.

Technical Expertise in Accounting

• Demonstrates strong technical accounting skills, including proficiency in debits, credits, transactions, and financial reporting, with tax accounting experience being a plus.

Effective Communication

• Possesses exceptional communication skills, able to convey complex financial information clearly and concisely to both internal teams and external stakeholders, adapting the communication style to the audience.

Project Management and Prioritization

• Skilled at managing and prioritizing multiple projects simultaneously, consistently meeting internal Service Level Agreements (SLAs) and deadlines without compromising quality.

Collaboration and Independence

• Excels in both collaborative team settings and while working independently, leveraging strong interpersonal skills to contribute effectively in a remote work environment.

Problem Solving and Proactivity

• Highly detail-oriented, driven to identify issues, and adept at recommending effective solutions, especially in a fast-paced environment.

Continuous Learning and Adaptability

• Demonstrates a strong capacity for quickly acquiring new skills and proactively taking steps to improve processes and outcomes.

Educational and Professional Credentials

• Bachelor’s degree in accounting or finance is preferred, with a CPA or active progress towards CPA certification highly desirable. A minimum of 5+ years of experience in accounting is required, along with mastery of computer and web-based financial software.

Job Requirements for Hybrid Work Environment:

Dedicated Workspace: Must have a home office or workspace that is free of distractions and interruptions to ensure productivity and focus during work hours.

Reliable Internet Connection: High-speed internet is required to support video conferencing, file sharing, and other work-related technology needs.

Hybrid Work Commitment: Must be able to reliably commute to the office and meet in-person collaboration requirements as needed.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions. While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers, handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and/or move up to 15 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate.

An Equal Opportunity Employer

We do not discriminate based on race, color, religion, national origin, sex, age, disability, genetic information, or any other status protected by law or regulation. It is our intention that all qualified applicants are given equal opportunity and that selection decisions be based on job-related factors.