Fund Controller

The role of a Fund Controller mainly requires assessing the financial activity within the fund, it’s entities or assets, and reporting upwards.

Fund controllers are central to the running of a fund’s operations, usually pulling together accounts from different entities and jurisdictions, keeping an eye on liquidity, and cash moving around the fund, and being able to give an accurate perspective on what is really happening within the fund at any given time.

The role can be further expanded to include people management, reporting to the local regulator, and relationships with trade bodies which might release guidelines to a specific type of fund. All these things depend a little on the size of the business, and its structure.

Fund Controllers work closely together with the investment team, giving frequent details to the Fund Manager, and sharing details back again. Therefore, a close working partnership, and crucially, a strong set of soft skills including communication, ease of working, and proactivity, gives the person an important position in the successful running of a fund’s operations.

In terms of education, most companies will be looking for people holding degrees in Finance, Accounting, Economics or Business Administration. It is also a major asset to already be ACCA qualified, or the equivalent in different countries, is also a must for some employers.

Fund Controllers oversee the correct performance of the fund, its accounting and financial statements, and reporting of the fund, liaising with the fund administrators, internal or external auditors and investors to ensure a correct and transparent assessment of the financial situation of the fund. This person will have to track any inconsistency by the team and make sure it is corrected and delivered in time.

Some of the tasks of a Fund Controller are to oversee and review the NAV calculations and daily cash reconciliations, distributions, cashflow monitoring oversight, analyse all data on reports and responding to investor queries, review the VAT and tax returns, get involved on regulatory matters and liaise with the CSSF.

Candidates who show strong skills on both the finance side, as well as the communication side, are of great value to investment companies, as they enable transactions to happen more smoothly, and can explore the reasons behind why a fund is performing the way it is, and report to the Board on specific aspects at times.

This role naturally evolves into that of a Finance Director or CFO within some successful years at a fund manager. Candidates are interesting to us both with and without Luxembourg experience, the stronger the academic background, the better. We look forward to hearing from you.