Director of Fund Administration

Lending Club (NYSE: LC) opened in 2007 with one simple mission: create a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. Today, we're the world's largest online credit marketplace, and we're radically changing the way lending operates. We're proud of the recognition we've received, including being named a World Economic Forum Technology Pioneer, a CNBC Disruptor 50, and one of The World's 10 Most Innovative Companies in Finance by Fast Company. We're conveniently located in downtown San Francisco, California.

What we're looking for:

We seek to hire an entrepreneurial leader with deep experience overseeing financial and operational functions in a private investment fund context (e.g., work experience at US private equity funds and/or hedge funds). You should be comfortable operating independently in a fast-paced environment, balancing priorities between ensuring smooth day to day operations and supporting the development of new products & strategies. You should understand accounting and financial management practices for private funds, the regulatory context for investment advisors and typical legal considerations around private fund structures, and know how to design compliant and controlled processes to support growth. You understand the role of every function that allows a private investment fund to operate, have a point of view on what work to do in-house and where to rely on third parties, and have experience managing people directly and indirectly and overseeing critical service provider relationships.

This not your typical fund administration role, it is an opportunity to stretch yourself and help drive innovation in support of LendingClub's mission to make borrowing more affordable and investing more rewarding. You will become part of an experienced and motivated leadership team that is charting the next horizon of growth for asset management in FinTech.

Requirements:

  • 5-8+ years experience in financial and/or operational management of hedge funds, private equity funds or other private investment products
  • 10-15+ years of total work experience
  • Bachelor's Degree in Accounting, Finance or related field required; professional degree is a plus
  • CPA preferred; knowledge of GAAP required

Responsibilities:

Fund finance and accounting: oversee all financial accounting and reporting and books and records associated with private investment funds and separately managed accounts advised by LC Advisors, LLC, including calculation of partners' capital balances, allocation of fees & expenses, return calculations, distribution payments, etc. Manage in house fund accounting function and activities performed by fund administrator, including conducting and documenting review of third party work product. Oversee annual audit process. Oversee valuation processes including valuation committee meetings, creation of data flows to and from valuation agent, and validation of calculations. Oversee processes for cash movement and validate cash transactions.

Management, Board and investor reporting: provide regular support to management and Board oversight of LC Advisors, LLC, including data regulatory compliance, business management, and oversight of investment products. Handle data flows used to provide metrics to investors, and validate metrics. Build out new reporting processes and metrics for growth and improve investor experience. Create a subset of the quarterly Governing Board reporting pack.

Vendor oversight: work with vendor management team, operations team and business leadership to manage relationships with service providers to LC Advisors, LLC. You will conduct vendor due diligence, negotiate and manage SLAs, and manage costs.

Fund operations: You will work with operations team to provide guidance on escalated questions from investors, junior operations team members, or fund administrator. Manage to monthly and annual operating calendars, ensuring no dropped balls across the operations of the fund company. You will ensure that contracts and client arrangements are appropriately documented and stored in contract management systems, and ensure compliance with contractual arrangements (e.g., side letters, vendor agreements). You will lead implementation of books and records policies and procedures, maintaining well organized records with tight access controls.

Systems: You will handle and drive improvements to the technology & systems infrastructure that supports all aspects of the business, including operations and accounting, CRM and portfolio management.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

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