vice president

private equity associate

vice president of accounting

vice president of client services

vice president of operations

Citco

•Calculated the month-end NAV and developed the financial statements for multiple hedge funds
•Administered complex hedge funds exposed to equities, fixed income, futures, options, forwards and swaps
•Analyzed and calculated fund-level expenses (incentive, research, management and administration fees)
•Corresponded with clients, brokers/custodians and other departments to resolve trading issues
•Analyzed trades, OTC confirms, dividends and interest for settlement
•Knowledge of Front, Middle and Back Office functions to analyze and resolve client questions   
•Reviewed and evaluated corporate action processing
•Developed month-end schedules to reduce risk and increase accurate NAV calculation 
•Evaluated month-end market prices for all open positions
•Researched Front-to-Back breaks, identified and resolved problems in the Security Master (trades, factors, rates)  
•Performed comparative analysis and isolate differences between client month-end estimate to Citco numbers 
•Prepared financial statements after finalizing the balance sheet, P&L, and valuation sign-off 
•Communicated with client and accounting team to provide superior client service and resolve any issues
•Resourceful decision making leading to increased efficiency in daily accounting operations
•Assisted with training new fund accountants
•Completed monthly reports and assist with annual SOC 1 audit requests

Review and preparation of the process of preparing financial statements in compliance with U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). 
Prepare and review financial highlight disclosures, including calculations of total returns, preparation of per share tables, expense ratio analysis, etc.
Prepare reports for the client upon request. Troubleshoot Fund Accounting issues. Attend meetings and training to enhance knowledge to be passed down to the Financial Reporting Accountants.
Management was great, worked under limited supervision.  Follow established procedures.  Plan own work.  Suggest methods and procedures for new work assignments, reviewing with supervisor for input or approval. 
Co-workers was friendly and willing to help.
Hardest part of the job was during winter when our deadlines have to be met and we only have couple of month to do it.
The most enjoyable part of the job is the work itself and the atmosphere of the company.

You'll find a lot of people working there who have been there well over 5 years. Citco pays well, and have great benefits. Culture wise, they have always done an exceptional job at hiring accountants, analysts, developers and IT specialists who are really easy to work near, and see everyday. They are the stars of the culture. However, Citco was not safe from tough economic times, and that changed other aspects of the culture related to job security, raises, and bonuses. Also a lot of smart and interesting people left the company. Citco hasn't done well keeping their unique and talented people feeling rewarded with promotions, or bonuses.

There seems to be little relationship between other offices that are very distant. For example, the San Francisco office and the Jersey City office show little evidence of a relationship. I've seen no evidence of relationships with overseas offices. That could be an attractive aspect for people who have not rooted themselves deeply in one location yet.

During my time at Citco, I had the opportunity to witness firsthand the company’s dedication to excellence and client service. Citco fosters a professional and collaborative environment where attention to detail and accuracy are paramount. The leadership team encourages continuous learning and growth, which helped me develop both technically and professionally.

What sets Citco apart is its proactive approach to fund administration and its commitment to delivering high-quality, timely results. The culture promotes teamwork, open communication, and innovation, creating a supportive atmosphere for employees to thrive.

I was consistently impressed by the company’s ability to adapt to complex client needs while maintaining strong compliance and operational standards. Citco’s focus on both client satisfaction and employee development makes it a standout organization in the industry. I am grateful for the experience and would highly recommend Citco as an employer and service provider.

If you want to work in finance as a college grad and can only get work here you should do something else.  Working here you will be stuck in a repetitive role full of non-growth tasks that no one in the market cares about and you will eventually be forced to go back to grad school to learn something new.

They only promote based off length of time in service regardless of knowledge of product or competencies.  If your manager knows nothing about the product they are dealing with they will hire a sucker from another company with great promises to train them and their other employees.  Once trained Citco will terminate you in the next round of layoffs.

The managerial roles are long hours with not much pay difference than what your employees make.  Difference is you manage folks with low moral due to pay cuts, high turnover, layoffs and outsourcing.  As the manager you are expected to cover all the work if someone is sick or quits and in this environment it happens a lot.

There are no typical days. Every day brings new requirements, demands, challenges.
One of the biggest skill advancements I have achieved in my role is reporting on different parameters and activities of the Internal Audit Group to the Business Partners, Head of Internal Audit, and Citco Management Team. I have prepared monthly and quarterly reports indicating numbers of hours IA teams spent on various audits, issuance dates of the audit reports and their results, numbers of risk issues found, and comparisons of numbers of issues to previous audits' results.
Citco Management is demanding, and eager to help an employee at any obstacle.
My co-workers are a great team of professionals, who help each other during various stages of projects to achieve the efficient yet best results.
The most enjoyable part of the job is delivering the desired results, and receiving good feedback from management.

Just like anything, the more you put in , the more rewarding it gets. I was lucky to work for a good manager. They pay really well for a fund admin. Base salary for me was 25% more than the other admin shop I worked at previously.

You get to learn a ton about private equity accounting, which is currently in high demand in this industry's job market. If you work hard and show management you care about your job, they usually recognize you and reward well. They also give you plenty of chance to pursue other opportunities within the firm.

That being said, during busy season, working hours can be long. However, if you work with a good team that is helpful and supportive (like mine was), it makes it a helluva lot easier. Culture is generally good & most of the people are down-to-earth and supportive.

The dysfunction of the company is from the top down.  Executive management cares not one iota for the staff that work at the company.  This attitude has permeated throughout all levels of management.  It's more important to meet deadlines than to have a life or family.  A "reasonable" suggestion was to work to at least 10pm, when the company will pay for an Uber to take one home because it's great the company will pick up the cost, get five hours or so of sleep, and do it all again the next day and everyday during the quarter end process.  I heard a story of a staff member who was no longer there when I started who worked so much overtime that they quit at the beginning of summer because they had eclipsed their yearly salary in six months.

On a typical day in accounting, I would be processing monthly/quarterly activity, responding to client inquiries or processing capital activity.  Depending on the day of the month, I would be preparing/reviewing monthly or quarterly net asset value packages including supporting schedules and reconciliations.  There are also client conference calls and meetings that require schedule coordination and preparation of the meeting materials.  Sometimes, these tasks are completed during an 8 hour day, or depending on when the required information is received, the work day could last greater than 10-12 hours.

Citco isn't a bad place to work as overall the benefits and pay are good. The trouble is that the space has become more crowded and competitive with what seems like a race to the bottom in terms of fees. This hurts Citco more than some of the other administrators as it is independent and doesn't have the luxury of performing administration at a loss in order to win the custody business or some other service. As a result of some of these changes, the work/life balance has worsened as has some of the opportunity for career advancement.
At the same time, the people are friendly and it still offers good exposure to someone looking to learn more about the products hedge funds trade.

Top Job Titles	Average Salary
Vice president 5 salaries reported	$172,000 per year
Private equity associate 3 salaries reported	$169,500 per year
Vice president of accounting 11 salaries reported	$216,455 per year
Vice president of client services 8 salaries reported	$256,688 per year
Vice president of operations 6 salaries reported	$106,083 per year

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