Open Web Collective is looking for an ambitious and flexible accounting professional to lead all aspects of balance sheet and fund accounting, reporting, and operations. The Director of Finance will be responsible for various tasks and activities supporting OWC’s' venture capital funds and growing number of accelerator programs around the world. 

Responsibilities

Support Mgmt. Company Financial Strategy:

  • Create and lead financial planning and analysis (FP&A), strategic accounting and reporting capabilities for management company
  • Reviewing the financial structures of all other departments and providing strategic recommendations to the CEO and executive management team
  • Advise on long-term business and financial planning initiatives; Create and establish yearly financial objectives that align with the company’s plan for growth and expansion
  • Create and maintain strong accounting and finance policies, procedures, and internal controls

Support Fund: 

Management

  • Complete ownership of general ledgers, quarterly financial statements, investor allocations, capital account statements, and portfolio summary reports
  • Establish, maintain, document, and monitor an appropriate system of internal controls over cash, investments, financial reporting, and compliance with fund agreements and securities laws
  • Build strong working relationships with external vendors - auditors, tax, legal, valuation, international fund service providers

Reporting

  • Responsible for daily accounting operations, the preparation and review of capital calls, distributions, management fee calculations, waterfall calculations, and IRR calculations.
  • Complete the monthly close process to issue timely and accurate monthly, quarterly, and annual financial statements
  • Review preparation of various US and international regulatory filings, and assist with monitoring VC exemption compliance
  • Oversee timely completion of accurate LP reporting across fund(s) in accordance with fund agreements

Operations

  • Manage elements of a system implementation to ensure the integrity of data and reporting
  • Understand and analyze fund limited partnership / operating agreements and operationalize new fund(s)
  • Ability to scale systems and processes in a fast-growing organization

Support Investment Team and Portfolio Management:

  • Review proposed investments, ensuring all legal documentation is complete prior to wire initiation
  • Facilitate wire review and approval for investments, distributions, and fund expenses
  • Manage all fund cashflow, ensuring sufficient capital on hand to fund investments across various vehicles through line of credit management and owning capital call projections
  • Assist legal, tax, and investment teams resolve complex problems and issues related to various transactions and structuring decisions.
  • Analyze and review information at portfolio company level ensuring accuracy, completeness and correct valuations

 

Support IR & Business Development:

  • Point of contact for the structural, operational, and content aspects of fund
  • Manage new client and investment onboarding, and respond to client inquiries
  • Assist with due diligence requests and preparation of materials for new fund(s)
  • Provide comments and input on drafts of new partnership agreements and proposed side letters

Qualifications

  • 6+ years accounting/finance experience, with significant experience at both at a top tier accounting firm serving venture capital & private equity fund clients, as well as experience with a venture capital and/or private equity firm
  • Familiarity with relevant securities laws (1940/1934 Acts; AIFMD)
  • Sound understanding of key venture capital fund characteristics and fund management concepts
  • Expert knowledge and understanding of US GAAP, investment company accounting (ASC 946), and fair value measurements (ASC 820)
  • Expert understanding of valuation methodologies specific to venture capital and application to complex capital structures
  • Sound knowledge of key tax issues and principles relevant to US venture capital partnerships
  • Significant experience with complex fund legal structures and international funds strongly desired
  • Expert Microsoft Excel skills required
  • Strong organizational skills with exceptional attention to detail and the ability to see and understand the bigger picture
  • Excellent written and oral communication skills
  • Ability to multi-task, problem-solve, and take complete ownership of work in a fast-paced, high-volume environment
  • Good sense of humor, ability to adapt to change, no job too small attitude

About NEAR & OWC 

NEAR’s mission is to enable community-driven innovation to benefit people around the world. The NEAR blockchain is secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people, putting the power of Open Finance and the Open Web in their hands. NEAR  protocol is built by the best engineers in the world who work across teams, companies and countries similar to other large scale open source projects. Core contributors include a couple of 2-time ICPC world champions, 2 gold medalists, a Latin American champion and multiple other competitive programming finalists.

Open Web Collective (OWC)  is an early-stage blockchain venture fund and seed accelerator. OWC aims to reimagine how the next wave of applications will be built using open technologies.

OWC’s mission is to support founders building the open web. Our founders are promising pre-seed and seed-stage startups from around the globe. They work with leading corporate partners and investors such as IDEO, Deloitte, and WEF to validate/invalidate business ideas and decisions, build products, define and grow KPIs, develop product-market fit, and fundraise to push blockchain forward.

 

Apply for this Job

* Required