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Vice President, Global Expense Allocation

Company: Ares Management Corporation
Location: Culver City
Posted on: February 9, 2024

Job Description:

Vice President, Global Expense Allocation page is loaded Vice President, Global Expense Allocation Apply locations New York, NY Los Angeles, CA - CULVER CITY time type Full time posted on Posted 26 Days Ago job requisition id R3594 Over the last 20 years, Ares' success has been driven by our people and our culture. Today, our team is guided by our core values - Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy - and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry. Job DescriptionAres is searching for a highly motivated, detail-oriented team player to join the Ares Corporate Finance & Accounting team based in the Los Angeles.In this role, you will engage key partners, including Portfolio Management, Legal, Compliance, Finance, and external service providers to ensure accurate expense allocation and payment processing for our investment funds.The successful candidate would be detailed oriented with the drive to be both accurate and efficient. You thrive in fast-paced environment with the ability to effectively manage the needs of multiple stakeholder groups. You can turn concepts into action and drive results which will mean you have an excellent balance of analytical, technical and communication skills. You have a willingness and ability to drive change in a growing organization to streamline processes and improve efficiency to facilitate that growth. This individual should have a strong desire to deliver excellent customer service with the ability to be proactive and anticipate the needs of the business and react accordingly.

  • Manage and oversee business processes and governance over fund expense allocation process
  • Serve as primary liaison/escalation point between the expense allocation team and key stakeholders (Compliance, Legal, Portfolio Managers, Fund accounting, Corporate Accounting and Deal Teams)
  • Identify and lead continuous improvement opportunities as it relates to the expense allocation process.
  • Ensure team members are properly trained and adhering to the controls, policies and procedures.
  • Analyze & review Fund Legal Documents, Ares Compliance Policies, and expense details to accurately calculate expense allocation across funds, including the following:
    • Understand our various Fund expense and allocation policies
    • Apply allocation policy to calculate expense allocations accurately
    • Understand private fund structures
    • Address expense-related inquiries from internal and external clients
    • Assist in technology builds to automate expense allocation and accounts payable functions further
    • Coordinate and attend quarterly governance meetings to review updates on policy and expense matrices
    • Establish KPI/Metrics and reporting
    • Ensure process/policy/expense matrix documentation is up to date
    • Provide support and analysis to other ad-hoc projects & initiatives as directed by department manager.Education:
      • Minimum of a Bachelor's Degree in Legal Studies, Finance, Business or AccountingExperience Required:
        • 10+ years of overall experience is required
        • 5-8 years of Compliance experience, specifically in a global asset management company, is a plus
        • 3+ years of people management experience is preferred
        • Prior expense allocation compliance experience is preferred
        • Prior paralegal or legal documentation review experience is preferred
        • Good working knowledge of Excel is required
        • Strong background & understanding of Accounts Payable policies and procedures is required
        • Experience using ERP packages (SAP, Oracle Fusion, Peoplesoft etc.) is a plus
        • Experience being on a project team implementing new technology and/or enterprise level process change is a plusGeneral Requirements:
          • Understanding of complex allocation methodologies and Private Equity investment manager accounts payable functions
          • Strong analytical and problem-solving skills with ability to understand the implications for the wider enterprise.
          • Excellent communication and presentation skills with the ability to influence stakeholders at all levels of the organization
          • A self-starter with the ability to work on own initiative.Reporting RelationshipsCompensation The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role. $175,000 - $220,000 The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more. There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active. About UsAres Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2023, Ares Management's global platform had approximately $395 billion of assets under management(1) with more than 2,800 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com .Ares Management LLC (together with its related operating and administrative subsidiaries, "Ares Management") is an Equal Employment Opportunity employer and considers all applicants for employment without regard to race, color, religion, ethnicity, creed, sex, age, national origin, alienage or citizenship status, disability, medical condition, pregnancy, marital status, partnership status, sexual orientation, status regarding public assistance, military or veteran status, domestic violence victim status, gender identity and expression, transgender status, genetic information, status as unemployed, political affiliation or any other characteristic protected by federal, state or local law.Ares Management will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the Fair Chance Initiative for Hiring Ordinance.(1) As of September 30, 2023. AUM amounts include funds managed by Ivy Hill Asset Management, LP., a wholly owned portfolio company of Ares Capital Corporation and registered investment adviser. -
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Keywords: Ares Management Corporation, Los Angeles , Vice President, Global Expense Allocation, Executive , Culver City, California

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