BDO USA, LLP
Assurance Manager - Asset Mgmt & Private Equity Funds
BDO USA, LLP, Houston, Texas, United States, 77246
Job Summary:BDO's Asset Management and Private Equity Funds practice is a dynamic and rapidly growing practice nationwide, focused specifically on private equity funds, venture capital funds, small business investment companies (SBICs), real estate funds, hedge funds and other alternative investment vehicles.The Assurance Manager is responsible for managing financial statement audit engagements for private equity funds and serving as a leader of the Financial Services practice. This role is responsible for developing suggestions to improve client internal controls and accounting procedures, as well as advising clients on various economic and regulatory risks in a specific industry field of expertise by identifying financial and non-financial performance measures, formulating and communicating the audit plan, answering complex questions involving GAAP and GAAS and composing technical consultation memos on engagements related to GAAP and/or GAAS issues. The Manager is charged with maintaining key client relationships and acting as the primary contact for clients regarding complex questions and information. The manager will also support the team with active involvement in business development, training and networking activities.Additionally, this role is a critical part of the office Assurance leadership team, and is involved in the direct supervision, problem resolution and delegation stages of the overall audit.Job Duties:
Control Environment:
Applies advanced knowledge and understanding of the collective effect of various factors on establishing or enhancing effectiveness, or mitigating the risks, of specific policies and procedures.Applies an advanced understanding of objectives and components of the overall control environment and organization, and supervisory controls.Validates and assesses effectiveness of internal control over financial reporting.Identifies and communicates to management and audit committee suggestions to improve client internal controls and accounting procedures.Identify and delegates functions of the audit to the auditor in charge as deemed appropriate.Supervise the work of audit team and review workpapers and conclusions preferably onsite during audit field work.Provide on-the-job-training to the engagement staff during audit field work.
GAAP:
Applies advanced knowledge and understanding of governing principles; applying these principles to client transactions; and documenting and communicating an understanding and application of these principles.Identifies and consults with clients on the impact of new accounting pronouncements.Presents and discusses alternative application of generally accepted accounting principles and arguments for/against such alternatives.Drafts complex financial statements and related footnote disclosures and effectively communicates these to client.Identifies complex accounting issues and forms and documents resolution, seeking counsel of BDO technical experts as needed.
SEC and PCAOB:
Applies advanced knowledge and understanding of SEC regulations and PCAOB guidelines, and documents and communicates the application of these principles.Reviews SEC filings, including MD&A, financial statements and disclosures for appropriateness in form, content, completeness, and accuracy, and ensures that quarterly reviews are properly performed.Reviews required communications to the client and Audit Committee, ensuring their completeness, accuracy and compliance with Firm and professional guidelines.Reviews Section 404 internal control audit work to ensure their completeness and compliance with Firm and professional guidelines.Ensures compliance with engagement independence requirements and consults internally as needed.
GAAS:
Applies advanced knowledge and understanding of professional standards; application of the principles contained in professional standards; and the ability to document and communicate an understanding and application of professional standards on an engagement.Applies advanced knowledge of professional standards/practices, including GAAS and PCAOB in performing and supervising work.Provides guidance to others and affirms conclusions made by others.Communicates matters required to be reported to the Audit Committee/Board and those charged with governance.Applies the use of efficiency tools such as statistical sampling, CAATS, etc.
Methodology:
Applies advanced knowledge and application of BDO standards, policies and technology that guide effective and efficient delivery of quality services and products.Conducts detailed review to assure audit is completed in accordance with assurance manual standards.Prepares or reviews required communications to management and audit committees, ensuring timeliness and completeness.Recommends appropriate outcomes to critical issues.Initiates and prepares client acceptance/retention procedures where appropriate.Plans the audit process and oversees the execution of procedures with quality, efficiency, and completeness despite pressures of deadlines.Executes proper BDO methodology including but not limited to proper archiving procedures.Considers Sarbanes-Oxley rules in understanding and executing service plans for combined 404 and financial statement audits for public clients.
Research:
Applies methodology used to seek or maintain information from authoritative sources and to draw conclusions regarding a target issue based on that information.Defines methodology to conduct research projects and completes in a timely manner.Applies advanced knowledge of all appropriate research tools and draws conclusions based upon appropriate research.Prepares memo supporting research/conclusions and consults with others if appropriate.Presents issues to RTD or concurring reviewer effectively and accurately.
Manages engagement profitability, including billings and collections, and maintaining engagement team focus on productivity and efficiency.Assists with marketing and business development for the Asset Management group.Other duties as required.Supervisory Responsibilities:
Sets the tone for teamwork by supporting others in their work and delivering on commitments made to the team members and clients.Supervision of associates and senior associates on all projects.Review work prepared by managers, associates and senior associates and provide review comments.Act as a Career Advisor to associates and senior associates.Schedule and manage workload of associates and senior associates.Provide verbal and written performance feedback to associates and senior associates.Teach/coach seniors and associates to provide on the job learning.Qualifications, Knowledge, Skills and Abilities:
Education:
Bachelor's degree in Accounting or equivalent, required.MBA or Master's degree in Accounting, preferred.Experience:
Five (5) or more years work experience, required.Significant supervisory experience, required.Two (2) or more years of team lead or in-charge experience overseeing staff on multiple engagements, preferred.Experience in valuation of portfolio companies (i.e. level 3 investments), preferred.Experience in valuation methodologies and waterfall calculations, preferred.Experience auditing private equity and/or venture capital funds, preferred.License/Certifications:
CPA or international equivalent, required.Software:
Experience in the use of various assurance applications and research tools, preferred.Microsoft Office Products, specifically Windows, Word, Excel, and PowerPoint, preferred.Language:
N/AOther Knowledge, Skills & Abilities:
Knowledge of partner capital allocations and computations.Knowledge of management and incentive fee and carried interest calculations.Awareness of tax issues impacting private equity funds.Awareness of regulatory issues impacting private equity funds.Ability to demonstrate strong leadership skills and be a role model to managers and staff.Advanced GAAP and GAAS knowledge.Sound working knowledge of SEC and PCAOB rules.Possesses excellent verbal and written communication skills.Possesses excellent people development and delegation skills, including training/instruction and engagement scheduling and budgeting.Possesses executive presence, with the ability to be the primary contact for the client, as well as prepare and present presentations to clients and potential clients.Possesses excellent client development and relationship-building skills.Possesses excellent decision-making skills.Ability to substantially take charge of entire basic engagements.Ability to resolve complex accounting issues.
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Control Environment:
Applies advanced knowledge and understanding of the collective effect of various factors on establishing or enhancing effectiveness, or mitigating the risks, of specific policies and procedures.Applies an advanced understanding of objectives and components of the overall control environment and organization, and supervisory controls.Validates and assesses effectiveness of internal control over financial reporting.Identifies and communicates to management and audit committee suggestions to improve client internal controls and accounting procedures.Identify and delegates functions of the audit to the auditor in charge as deemed appropriate.Supervise the work of audit team and review workpapers and conclusions preferably onsite during audit field work.Provide on-the-job-training to the engagement staff during audit field work.
GAAP:
Applies advanced knowledge and understanding of governing principles; applying these principles to client transactions; and documenting and communicating an understanding and application of these principles.Identifies and consults with clients on the impact of new accounting pronouncements.Presents and discusses alternative application of generally accepted accounting principles and arguments for/against such alternatives.Drafts complex financial statements and related footnote disclosures and effectively communicates these to client.Identifies complex accounting issues and forms and documents resolution, seeking counsel of BDO technical experts as needed.
SEC and PCAOB:
Applies advanced knowledge and understanding of SEC regulations and PCAOB guidelines, and documents and communicates the application of these principles.Reviews SEC filings, including MD&A, financial statements and disclosures for appropriateness in form, content, completeness, and accuracy, and ensures that quarterly reviews are properly performed.Reviews required communications to the client and Audit Committee, ensuring their completeness, accuracy and compliance with Firm and professional guidelines.Reviews Section 404 internal control audit work to ensure their completeness and compliance with Firm and professional guidelines.Ensures compliance with engagement independence requirements and consults internally as needed.
GAAS:
Applies advanced knowledge and understanding of professional standards; application of the principles contained in professional standards; and the ability to document and communicate an understanding and application of professional standards on an engagement.Applies advanced knowledge of professional standards/practices, including GAAS and PCAOB in performing and supervising work.Provides guidance to others and affirms conclusions made by others.Communicates matters required to be reported to the Audit Committee/Board and those charged with governance.Applies the use of efficiency tools such as statistical sampling, CAATS, etc.
Methodology:
Applies advanced knowledge and application of BDO standards, policies and technology that guide effective and efficient delivery of quality services and products.Conducts detailed review to assure audit is completed in accordance with assurance manual standards.Prepares or reviews required communications to management and audit committees, ensuring timeliness and completeness.Recommends appropriate outcomes to critical issues.Initiates and prepares client acceptance/retention procedures where appropriate.Plans the audit process and oversees the execution of procedures with quality, efficiency, and completeness despite pressures of deadlines.Executes proper BDO methodology including but not limited to proper archiving procedures.Considers Sarbanes-Oxley rules in understanding and executing service plans for combined 404 and financial statement audits for public clients.
Research:
Applies methodology used to seek or maintain information from authoritative sources and to draw conclusions regarding a target issue based on that information.Defines methodology to conduct research projects and completes in a timely manner.Applies advanced knowledge of all appropriate research tools and draws conclusions based upon appropriate research.Prepares memo supporting research/conclusions and consults with others if appropriate.Presents issues to RTD or concurring reviewer effectively and accurately.
Manages engagement profitability, including billings and collections, and maintaining engagement team focus on productivity and efficiency.Assists with marketing and business development for the Asset Management group.Other duties as required.Supervisory Responsibilities:
Sets the tone for teamwork by supporting others in their work and delivering on commitments made to the team members and clients.Supervision of associates and senior associates on all projects.Review work prepared by managers, associates and senior associates and provide review comments.Act as a Career Advisor to associates and senior associates.Schedule and manage workload of associates and senior associates.Provide verbal and written performance feedback to associates and senior associates.Teach/coach seniors and associates to provide on the job learning.Qualifications, Knowledge, Skills and Abilities:
Education:
Bachelor's degree in Accounting or equivalent, required.MBA or Master's degree in Accounting, preferred.Experience:
Five (5) or more years work experience, required.Significant supervisory experience, required.Two (2) or more years of team lead or in-charge experience overseeing staff on multiple engagements, preferred.Experience in valuation of portfolio companies (i.e. level 3 investments), preferred.Experience in valuation methodologies and waterfall calculations, preferred.Experience auditing private equity and/or venture capital funds, preferred.License/Certifications:
CPA or international equivalent, required.Software:
Experience in the use of various assurance applications and research tools, preferred.Microsoft Office Products, specifically Windows, Word, Excel, and PowerPoint, preferred.Language:
N/AOther Knowledge, Skills & Abilities:
Knowledge of partner capital allocations and computations.Knowledge of management and incentive fee and carried interest calculations.Awareness of tax issues impacting private equity funds.Awareness of regulatory issues impacting private equity funds.Ability to demonstrate strong leadership skills and be a role model to managers and staff.Advanced GAAP and GAAS knowledge.Sound working knowledge of SEC and PCAOB rules.Possesses excellent verbal and written communication skills.Possesses excellent people development and delegation skills, including training/instruction and engagement scheduling and budgeting.Possesses executive presence, with the ability to be the primary contact for the client, as well as prepare and present presentations to clients and potential clients.Possesses excellent client development and relationship-building skills.Possesses excellent decision-making skills.Ability to substantially take charge of entire basic engagements.Ability to resolve complex accounting issues.
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