Private Equity Assistant Controller

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Working at PPM America, Inc.

PPM is a US-based institutional asset manager. Established in Chicago in 1990, PPM exists to consistently support institutional clients in achieving their long-term value goals. We take a hard work, straight talk, full transparency and humility approach to our work. Our success is supported by a team-based culture that encourages debate, collaboration and consistency. At the center of our belief is the fact that our best ideas to date have and can come from any team member anywhere in our firm. We believe the success of our investment culture is best demonstrated by the strong retention of our clients and investment professionals. PPM was again named one of the Best Places to Work in Money Management by Pensions & Investments in 2024. We attract professionals who exhibit humbleness, directness, and dedication. PPM’s values guide our internal conduct and help define the type of relationships we share with our investors, affiliates, and other valued partners. Above all, PPM is passionate about giving back to our clients, to each other, and to our community. We understand that community and purpose are just as important as the job description when finding your next career.

Values

At PPM, our values are reinforced in our culture every day.  We act like owners.  Integrity guides all that we do, and we are committed to exercising sound judgment in every decision that impacts the company and serves our clients.  We are passionate about investment performance and driving results.  We are relentless in our efforts to provide best in class service.  We strive to build strong and lasting relationships with our clients, seeking to gain trust in everything we do.  We work collaboratively with transparency and accountability.  We operate as a team.  We rely on each other, are accountable to each other, and respect each other.  We value differences and unique perspectives and embrace the principle that great ideas can come from anyone.  We embrace change.  We are not afraid to challenge the status quo in search of a better, smarter or faster solution.  We value learning, challenge ourselves and motivate others.  We are also committed to positively impacting our community.  As a firm, we invest time, experience and fundraising efforts with our non-profit partners. 

At PPM, we offer volunteer opportunities to get involved with a network of peers and support the causes that are important to you. Your passion and talents can make a lasting impact on our organization and our community. Additionally, our employees go the extra mile every day and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company. 

Job Purpose

The Private Equity Assistant Controller is responsible for financial management and reporting for all private equity and newly created CLO equity funds. This role is central to the team's development as PPM grows the 3rd party client base . The Private Equity Assistant Controller displays operational rigor and a proven track record in implementing process improvements. The Private Equity Assistant Controller reports to and works closely with the VP, Private Equity Controller.

Essential Responsibilities

• Entity-Level Financial Management:
• Production and review of monthly, quarterly, and annual financial statements.
• Production of weekly management reports.
• Review of accounting entry inputs.
• Calculation and review of management fee calculations.
• Review of quarterly fund valuations.
• Researches and makes recommendations on GAAP accounting and entity specific issues.
• Maintenance of entities’ waterfalls.
• Manages auditors in preparation of audited financial statements.
• Works with administrators and reviews their workpapers.
• Partner Capital Account Management:
• Capital account maintenance and reporting.
• Reviews capital call and distribution models.
• Ensures all distribution requirements are satisfied, including the calculation of IRRs and running waterfall tests.
• Deals with partner inquiries and reporting needs.
• Investing Activities:
• Works with the Private Equity team to establish a control framework and reporting structure for all private equity investments.
• Interacts with investment sponsors to maintain up-to-date financial information and documentation.
• Tracks and monitors investment performance.
• Cash Management:
• Manages and maintains lines of credit.
• Oversees and manages reporting requirements.
• Ensures adherence to loan covenants.
• Works with lenders on annual renewals.
• Reviews draw and paydown requests for completeness and accuracy.
• Works capital management.
• Manages and trains team of Private Equity Accountants/Analysts.

Other Duties

• Identifies and proposes opportunities for process improvement and efficiencies.
• Works with multi-disciplinary team on new fund launches, including entity creation, document production/review, and bank account and loan facility setup.
• Performs other duties and/or projects as assigned.

Knowledge, Skills and Abilities

• Strong knowledge of and experience with private equity funds required.
• Strong communication and interpersonal skills. Ability to deal with all levels across the firm.
• Continuous improvement mindset.
• Ability to work under pressure and to tight deadlines.
• Expert PC skills.
• Experience with Investran or similar software preferred.

Qualifications

• Bachelor's Degree required.
• 5-7 years of directly relevant experience required.
• Experience of partnership taxation preferred.
• Certified Public Accountant (CPA) required.

Equal Employment Opportunity PPM America, Inc. is an equal opportunity employer and we base our employment decisions without unlawful regard or consideration of an individual’s race, color, religion, national origin, sex, gender, sexual orientation, ancestry, citizenship, age, marital status, veteran status, medical condition, non-job related disability, pregnancy or any other basis protected by federal, state, or local law.

Base Pay: