Position / Title: Compensation Finance Associate

Pretium

Pretium is a specialized alternative investment management firm focused on U.S. residential real estate, residential credit, and corporate credit with more than $50 billion of assets under management. Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate and structured credit markets, and believes that its insight and experience within these markets give the Firm its strategic advantage.

Position

We are seeking a self-starter to join our Compensation Finance Team. This position is based in New York, New York, reporting to the Director of Compensation Finance, and will play an important role in the evolution of the firm’s finance department. The role encompasses all aspects of employee compensation. The Associate will help the Finance and Human Capital teams manage compensation and carried interest programs, including conducting compensation benchmarking, running compensation analysis & reporting, maintaining an audit trail, and facilitating implementation and management of a carried interest tracking system.

Key Responsibilities

  • Manage Pretium’s deferred carry compensation process including:
    • Determining profit sharing and employee allocations across numerous funds
    • Preparation and distribution of carry award letters and participant statements
    • Calculation and administration of carry distributions from fund earnings and distribute notifications to firm equity holders. Additionally requires collaboration with Management Company Accounting to ensure funds are sufficient and wires are prepared accurately.
  • Manage Deloitte’s deferred carry Cascade Suite to ensure employee portal is up to date and accurate.
    • Ongoing opportunities exist to enhance participant experience, increase transparency, and improve data availability.
  • Responsible for calculating and recording monthly deferred compensation transactions in conformity with accounting standards generally accepted in the U.S. (GAAP)
    • Obtain values from fund controllers via SharePoint.
    • Work with the Management Company Accounting team to learn Sage Intacct to book journal entries.
  • Responsible for communications with investors regarding their equity holdings, which includes assisting FP&A and the Management Company Accounting team in compiling quarterly reports.
  • Prepare quarterly cash flow estimates for the CEO’s firm and fund holdings and assist the Tax Director in providing precise tax estimates.
  • Maintain monthly cash compensation accounting, reporting, and analysis including monitoring budget vs actual.
  • Work with business partners to ensure headcount and compensation expense is accurately reflected.
  • Work closely with firm executives including the Chief Financial Officer (CFO), Chief Human Resources Officer (CHRO), and Head of Legal and Compliance (collectively, the Compensation Committee)
  • Assist in the year-end compensation process:
    • Review third party benchmarking
    • Prepare packages for the Compensation Committee to utilize for reviewing compensation.
    • Track changes of determinations by the Compensation Committee
    • Prepare employee compensation statements.
    • Work with fund controllers to understand the forecasted terminal value of deferred compensation plans and provide recommendations to the Compensation Committee for the composition of award grants.
    • Prepare educational presentations for the CFO to present to employees to explain various compensation programs including deferred compensation, options, etc.

Requirements

  • A minimum of three years of related work experience, ideally within Compensation and/or Management Company Accounting at an investment manager or private equity firm
  • Bachelor's Degree in Accounting or Finance
  • CPA certification is a plus
  • Proficient with Microsoft Excel
  • Solid analytical, mathematical, and research skills
  • Excellent communication (written/verbal) and interpersonal skills
  • Highly organized with a sense of urgency and strong attention to detail

What We Offer

This position offers the opportunity to join a collegial, entrepreneurial firm committed to the personal and professional growth of its team members and to maintaining a positive, encouraging work environment where people enjoy working together. The company offers a comprehensive benefits and perks package, including:

  • 401(k) plan with an employer match
  • Employer-paid health, dental, vision and life insurance
  • 20 annual days of Paid Time Off (PTO)
  • 11 firm holidays
  • Hybrid office/work from home arrangement (in office minimum of three days per week)
  • Annual base salary for the position is expected to be between $110,000 - $125,000. The actual salary will depend on various factors, including but not limited to a candidate’s experience and credentials, salary expectations of applicable candidates, and other applicable market conditions.
  • Annual year-end bonus eligible

Pretium is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment regardless of race, color, religion, gender, gender identity or expression, genetic information, marital status, sexual orientation, national origin, disability, age, veteran status, or any other characteristic protected by federal, state, or local law.

 

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