B ACKGROUND :|
Fortress Investment Group LLC (NYSE: “FIG”) is a leading global investment manager with approximately $51.5 billion of assets under management as of September 30, 2012. Fortress applies its deep experience and specialized expertise across a range of investment strategies - private equity, credit, liquid markets and traditional fixed income - on behalf of over 1,400 institutional investors and private clients worldwide. Fortress is headquartered in New York and has affiliates with offices in Atlanta, Dallas, Frankfurt, Hong Kong, London, Los Angeles, Munich, New Canaan, Philadelphia, Rome, San Francisco, San Diego, Singapore, Sydney and Tokyo.
Founded in 1998, the Company seeks to provide its investors with risk-adjusted returns in a management structure that closely aligns the interests of investors and managers. Fortress has continued to evolve from a dedicated private equity investment firm to a diversified asset management company.
Fortress’s Liquid Markets hedge fund business was launched in June 2002 by Mike Novogratz. Liquid Markets has a multi-disciplinary team with experience trading through various market conditions, geographies and asset classes. The team’s top priority is the preservation of capital supported by extensive market analysis focused on top-down idea generation and fundamental research. The Liquid Markets hedge fund business primarily consists of the Fortress Macro Fund, the Fortress Asia Macro Fund, the Fortress Convex Asia Fund, Fortress Partners Fund and related managed accounts.
P OSITION :
The Fund Chief Financial Officer of Liquid Markets is responsible for overseeing all aspects of the accounting, reporting, and financial planning. Reporting to the Liquid Markets COO, this individual will oversee and be accountable for the integrity and timely reporting of fund financial data both internally and to investors. This person will play a critical leadership role in developing and enhancing the technology platform of the Liquid Markets business. In addition, the CFO is a member of and is expected to significantly contribute to the Fortress Liquid Markets Management Committee.
K EY R ESPONSIBILITIES :
Oversee and further enhance the established financial reporting and control systems, structure, and organization.
Managing the fund accounting, tax and fund administration functions and relationships.
Lead and develop the Liquid Markets finance team: recruit, motivate, develop and retain high quality accounting and finance professionals.
Oversee the day-to-day responsibilities of the team which include:
Overseeing the calculation and communication of the NAVs for the funds and managed accounts.
Reviewing and approving month end valuations.
Reviewing and approving all fund and Liquid Markets related management company expenses.
Overseeing the year end audit process including preparation and review of Financial Statements.
Preparing and reviewing ad-hoc investor requests.
Financial reporting to FIG corporate for public company filings.
Participating in global regulatory reporting.
Actively monitor tax-related issues, and optimize tax exposure/expense in conjunction with the corporate tax department.
Providing project management, financial, business and technical expertise to facilitate timely generation, synthesis and distribution of financial and management reports.
Consistent and accurate communication with existing and potential investors.
Chairman of the valuation committee.
C ANDIDATE :
The candidate will possess deep, “hands-on” knowledge of Generally Accepted Accounting Principles and complex financial products. This individual will have the demonstrated ability to work effectively with multiple teams and functions within a fast-paced, performance-driven environment common to successful growth-oriented financial organizations.
R EQUIRED Q UALIFICATIONS :
Will have 10-15 years total business experience, in accounting of a hedge fund, investment bank, auditor or other financial institution.
Will have worked as a CFO/Controller (or equivalent) with the senior leadership team of a similar financial services business with experience in Alternative Investments.
Bachelors Degree (preferably in Accounting, Finance, Engineering or Computer Science) and CPA certification is required.
Must have superior technical accounting capabilities, with the experience and confidence to analyze, understand and act on issues related to operating a publicly traded, diversified financial services business. Experience with fund tax issues is required.
Is a highly-skilled manager who effectively leads the group by clearly communicating expectations, following-through on deliverables and providing input and direction to ensure the accurate and timely development and communication of financial data.
Has an in-depth understanding of financial and regulatory requirements, as it pertains to Alternative Investments.
Experience working at senior levels in other large financial institution(s), and has the confidence to interact with senior business and finance leaders.
Must demonstrate superior quantitative and analytical skills, and a propensity to be “hands on” and detail oriented.
Strong technology orientation; must demonstrate success in automation of accounting processes.
PERSONAL CHARACTERISTICS :
Unquestioned Integrity . A thoroughly honest and forthright individual who has an uncompromised reputation and who is upfront and direct with subordinates, peers, management executives and shareholders.
Hands-on Operator . Someone who is prepared to be thoroughly involved in the details of the Finance and Accounting functions in order to understand processes and opportunities for improvement. Someone who will address the issues that surface on a daily basis.
Domain Expertise . An individual with the depth of knowledge and expertise to maintain unimpeachable books and records of funds; apply sound judgment in key matters; and provide valued counsel to senior leadership.
Exceptional Management Skills . An individual who works through an organization and its people. A decisive manager who sets priorities and who handles multiple projects simultaneously and well. A process-engineer who will work to improve from the current state.
Effective Team Builder . Someone with the ability to effectively attract, assess, select and develop talent. A developer of people. Someone who can delegate responsibility, motivate subordinates, and develop a deep accomplished team.
Excellent Written, Verbal and Interpersonal Communication Skills . Can clearly articulate complex concepts, ideas and processes. Has the proven presence, maturity, and credibility to represent the firm effectively externally and internally.
Dedication, Drive and Staying Power . Energetic, resourceful, hands-on executive who operates effectively with minimum direction and who pursues his/her objectives with a sense of urgency. Readily copes with changing priorities, takes appropriate initiative and assumes responsibility even in the face of resistance.
Fortress Investment Group LLC - 14 months ago