Accounting Manager

About Formulary Financial Our mission is to be the most reliable operations partner to asset management firms by equipping them with expert service and AI. We deliver unprecedented speed, data accuracy, and actionable insights to help investors manage and grow their businesses. This is a unique opportunity to join a category-defining business built by veterans in asset management and AI/ML (Bridgewater Associates, Meta, IBM Watson, Elemental Cognition), backed by premier investors (Khosla Ventures, Acrew Capital, Serena Ventures, Company Ventures), and driving transformation in one of the largest industries in financial services. Formulary rapidly grew to manage billions in assets across a global client base that represents leading firms and is scaling to transform the $30 trillion fund administration industry. We’ve assembled a dream team of experts passionate about solving complex problems with powerful technology and delivering exceptional, white-glove service to investors. We are deeply committed to our mission, incredibly customer-focused, and inspired to reshape the private markets industry. If you want to move fast, hold yourself to a high bar, and make a meaningful difference in the future of finance, come build with us. Location: New York · Hybrid or remote What Impact You Will Own and Drive

• Fund Administration and Client Service Delivery: Responsible for end to end oversight and execution of all client deliverables and communications.

• Fund Administration Deliverables: Generate accurate, fund administration deliverables in a timely manner, and consistent with the scope of work. This includes generating reports and overseeing deliverables produced by other members of the team.

• Partner to Product Development Team: Identify, propose and help launch automation and systemization improvements.

• Compliance: Ensure all activities adhere to Formulary's internal standards, controls and industry requirements (regulatory, legal, tax, audit).

• Master Complex Calculations: Generate and rigorously review waterfall distributions and capital calls/contributions, verifying adherence to the Limited Partnership Agreements (LPAs).

• Project and Team Management: Ensure that the teams are operating effectively and efficiently to deliver excellent client service.

• Team Build: Participate in recruitment, development, and supervision of the staff accountant.

• Operations: In-charge of the day to day with the staff accountant, email traffic, capital calls, and inquiries.

• Mentorship and Development: Serve as a coach to other team members.

• Client Service and Partnership: Nurture and maintain trust-based relationships with clients.

• Thought Partnership: Identify opportunities to serve as a thought partner to general partners and limited partners.

• Client Communications: Serve as the first line of defense for all client inquiries, needs, and opportunities.

What You Need

• 3-7 years of fund accounting experience in venture capital, growth equity or private equity asset classes.

• Demonstrated impact at a leading fund administration services firm.

• 2+ years of experience hiring, training and managing a team of fund accountants, inclusive of managing a team of entry level fund accountants.

• Bachelor’s degree in accounting or a related field.

• A keen interest in using AI and machine learning to solve complex problems.

• Deep, practical experience with the entire investment lifecycle (from fund formation to fund dissolution) for venture capital, growth equity, and private equity asset classes.

• Experience scoping out system requirements and implementing new systems

• Strong knowledge of industry best practices for fund management and operations, including regulatory, tax, audit, compliance and other areas.

• Experience with Limited Partnership Agreements, LLC Operating Agreements, and other legal requirements. Understanding of traditional close-ended fund structures, SPVs, GP entities, blocker entities, parallel entities, and other investment structures (e.g. evergreen, master/feeder, and series fund structures).

• Thorough understanding of GAAP (Generally Accepted Accounting Principles) and regulatory compliance, specifically as related to calculations and journal entries.

• Proficiency in preparing fund financial statements (Statement of Assets and Liabilities, Schedule of Investments) and comprehensive Limited Partner (LP) reporting, including capital account statements.

• Strong knowledge of tax, audit and compliance regulations and requirements.

• Experience with SOC 1 and SOC 2 controls to develop and maintain robust internal systems to ensure data security, operational reliability, and meet client audit requirements.

• Fluency with software solutions and openness to explore and adapt modern technologies and resources to deliver an enhanced and more efficient client service experience.

Nice to have

• Demonstrated impact as a founding member of a fund administration services business.

• Experience in leveraging AI/ML to solve different problems in fund administration.

• Track record in achieving operational excellence and efficiencies through tech-enabled automation and systemization.

• CPA certification.

Who You Are

• You set high goals, are driven to become the best at what you do and do not settle.

• You put the needs, priorities and interests of clients at the heart of everything you do, never compromising customer experience for anything else.

• You nurture an environment that attracts, develops and empowers the brightest minds to collaborate and achieve audacious goals.

• You are mission-driven and motivated to build a category-defining business from scratch.

• You possess relentless drive, grit, and the inspiration to work at an early-stage startup.

• You act like an owner, deal well with ambiguity, and push for results without constant guidance.

• You are an ambitious problem-solver, balance speed and quality, and can effortlessly navigate complex situations.

• You value excellence, integrity, and the meritocracy of ideas.

• You are a strong communicator and collaborator who thrives in a hybrid work environment.

• You provide and receive feedback with honesty, care, and thoughtfulness.

• You are curious and have a rare growth mindset.

• You have a superior attention to detail and are committed to ensure accuracy and excellence in client service, experience, and deliverables.

Why Join Our Mission

• Tangible Ownership. You'll own significant parts of a product used by some of the most sophisticated investment firms in the world.

• Enduring Impact. Private markets hold nearly $30 trillion, and most of it still runs on spreadsheets, PDFs, and inboxes. The platform you build here will change how this industry operates.

• Dream Team. We're deliberate about who we hire. You'll work with some of the brightest minds in AI and finance and do the best work of your career.

• Problem-Solving at the Frontier. We pair people, AI, and deterministic systems to fit the solution to the problem. We automate what's earned and keep a person on the rest.

• Compensation and Equity. Competitive base salary, comprehensive benefits, and equity ownership in a high-growth, funded venture.

Location Hybrid (3 days per week on-site in our New York City office) or remote. Compensation Base salary: $100,000 to $140,000, plus equity. Benefits

• Health, dental, and vision insurance

• 401(k) retirement plan

• Stock options with a standard four-year vest and one-year cliff

• Flexible paid time off and paid holidays