Private Capital Markets Senior Analyst

PRIVATE CAPITAL MARKETS SENIOR ANALYST

Hello!

Unleash your potential by joining our team as a Private Capital Markets Senior Analyst. At PERA, you can support those who have supported you whether it's a favorite teacher, the snowplow driver that cleared winter roads or the state trooper who let you off with a warning. Chances are these people who make a difference are PERA members and you can make a difference to those who have helped you.

JOB SUMMARY

This position administers PERA's private asset fee validation program and the validation and verification of management fees and carried interest, including developing and enhancing policies, procedures, the Risk Priority Matrix (RPM), thresholds, and methodologies. Additional responsibilities include assisting with preparing the Annual Comprehensive Financial Report and other financial reporting and preparing or reviewing work completed by other accountants.

IDEAL CANDIDATE

Our ideal candidate is a reliable professional with private market investment accounting experience who is detail-oriented, attentive to accuracy and completeness, has a sense of urgency, and is focused on developing meaningful positive relationships. The ability to work independently and with a team, manage multiple priorities, and communicate clearly, concisely, and accurately is a must. If you are a dynamic, collaborative professional interested in working to fulfill the retirement expectations of our members, this is a great fit. You will use your unique skills to do important and meaningful work for the citizens of Colorado.

ESSENTIAL FUNCTIONS

• Identify enhancements and modifications to the private asset fee validation program, including:

• the Risk Priority Matrix (RPM)

• thresholds/tolerances criteria for fee validation results

• data validation procedures, including procedures for funds with limited data accessible to PERA

• Developing an internal benchmark for investment fee validation

• Identifying enhancements to LPA requirements (essential fund data) that support fee validation for future investments

• Validate private capital markets activity (capital calls, redemptions, distributions, equalizations, incentives, management fees, and fund expenses) and waterfall schedules

• Complete an annual risk assessment to determine the selection of the highest-risk investments for validation to ensure compliance with LPA terms

• Review limited partnership agreements, legal amendments, side letters, transaction activity, financial statements, tax returns, and investor K-1s for critical provisions in validating fees and carried interest

• Coordinate with partners, third-party administrators, investment accountants, PERA's legal team, and private asset managers to collect data elements necessary for fee and carried interest validation

• Reconcile the recalculated fee data to entries booked in the general ledger and research discrepancies

• Prepare written reports of data constraints and findings and present findings to internal stakeholders (investment administration, private market asset class managers, accounting, internal audit, etc.)

• Keeps abreast of new industry developments (ILPA) and other regulatory changes related to investment cost transparency for presentation to the accounting team and senior management, as appropriate

• Performs other duties as assigned, including

• Assists with the preparation of the Annual Comprehensive Financial Report

• Serves as a preparer, reviewer, or approver of various financial reporting

• Reviews journal entries, reconciliations, and other work completed by other accountants for both public and private investments

QUALIFICATIONS

• Bachelor's degree in accounting or finance or a related field and five plus years experience with investment compliance required

• Advanced degree and certification preferred (MBA, MS Accounting, MS, CPA, CFA)

• Knowledge of private equity, real estate, and alternative investments, including a structural understanding of complex, limited partnership agreement-driven investment fund set-ups, deals, and business models

• Must have robust financial reporting and analytical skills covering performance, valuation, and waterfall calculations for LPA fund distributions and fees, including carried interest

• Ability to read and comprehend technical and legal documents

• Ability to prepare and analyze complex financial reports and systems

• Exceptionally high attention to detail when managing and analyzing large data sets

• The role requires superior oral and written communication skills and the ability to deliver complex information both in written and oral presentation forms

• Proficiency with spreadsheet, database, and word-processing software

• Ability to organize, prioritize, and work with minimum supervision

• Manages multiple priorities and meets competing deadlines

WORKING CONDITIONS

• Standard office environment with frequent computer operation, and other office productivity machinery, such as a copy and printer machine.

HYBRID WORK OPTION

• Opportunity to work from home up to three days per week. Eligibility dependent upon factors detailed in PERA's Work from Home Policy.

JOB DESCRIPTION DISCLAIMER:

This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of an employee. Duties, responsibilities, and activities may change or new ones may be assigned with or without notice.

Unfortunately, at this time, we cannot consider candidates that require sponsorship (now or in the future), or are located outside of the US.

All Colorado PERA employees are subject to PERA's Ethics Policy and some employees are subject to the Personal Trading Policy. These policies include restrictions on outside business activities and employment and have certain requirements on personal trading. You may request copies of these policies from PERA's talent acquisition team and any questions can be answered by PERA's Investment Administration team.

INTERESTED CANDIDATES

Complete the employment application online at https://www.copera.org/careers. Please have copies of your resume and cover letter available to upload. Please review the following questions. You will be asked for a response to these as part of your application:

• Can you briefly describe how carried interest works?
• What does it mean to clear a hurdle rate of return? What are the impacts on carried interest?
• What is the difference between an American and a European equity waterfall?
• What is the relationship between committed capital, contributed capital, and unfunded commitment?
• What are the three stages of a private equity fund's life?

ABOUT COLORADO PERA

Looking for a career where you can make a difference? Colorado PERA offers benefit services to public employees across Colorado, including teachers, state troopers, snowplow drivers, correctional officers and many others who provide valuable services. As Colorado's largest pension plan, we serve and educate over 600,000 members who are former and current public employees.

At PERA you will earn more than a paycheck. PERA is a culture where you can grow your potential and work in an inclusive environment, where diverse perspectives are valued. We hire exceptional employees and recognize that our people are our best asset. Not only do we make sound investments for our members, PERA invests in our employees' growth through training and leadership opportunities.

To promote wellbeing, we offer hybrid or flexible working options for most roles and a total rewards and benefit program including health, dental and vision coverage - eligibility starts the first day of the month following the date of hire for most plans; generous paid time off and volunteer hours; pension and retirement plans, including PERA's defined benefit plan, 457 defined contribution plan, and 401(k) employer match, as applicable; tuition assistance; free, convenient on-site parking or RTD subsidy; free on-site fitness center to stay active; employee assistance program; training, leadership and mentoring programs and more. PERA is a Public Service Loan Forgiveness qualifying employer.

To learn more about life at PERA, watch this video or visit www.copera.org/careers.

Position Title: Private Capital Markets Senior Analyst

Division: Accounting

Reports to: Controller/Director of Accounting

Job Status: Full Time / Exempt

Salary: $97,000 - $127,000 annually, Commensurate with experience

Posting Dates: 5/3/2024 - Until filled