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About the Firm
Founded in 2011, The CrossBoundary Group is a mission-driven investment firm committed to unlocking the power of capital to make a substantial return while creating a lasting difference in frontier markets. We take a transaction-centered approach to frontier markets.
CrossBoundary provides investment advisory services and has developed specialised expertise in driving investment across all sectors in fragile and frontier markets. Our advisory clients include governments, development finance institutions, private equity firms, Fortune 100 companies, and research institutions. As part of the firm’s commitment to using private capital to make an impact on frontier markets, CrossBoundary manages three direct investment platforms: CrossBoundary Energy, CrossBoundary Energy Access, and CrossBoundary Educational Infrastructure. These vehicles mobilise blended finance to extend affordable project financing toward often-neglected asset classes in Africa. Which nonetheless offer our investors compelling financial, environmental, and social returns.
- CrossBoundary Energy (CBE): CBE was established in 2015 as Africa’s first fund dedicated to Commercial and Industrial solar PV projects. CBBE now owns and operates Sub-Saharan Africa’s largest portfolio of solar assets serving private businesses, with active investments spanning Kenya, Ghana, Nigeria, Rwanda, and Sierra Leone. CBE’s installations deliver energy savings and clean energy to 15+ African enterprises, and the business plans to scale rapidly in the coming years.
- CrossBoundary Energy Access (CBEA): CBEA launched in 2019 and is Africa’s first project finance fund for mini-grids. Over 600 million people in Sub-Saharan Africa still lack access to electricity. CrossBoundary conservatively estimates that at least 100 million of these people are most cost-effectively served by mini-grids today. CBEA raises blended finance and invests in a developer’s pipeline of mini-grids. This unique approach is designed to prove that investor capital can be injected at scale into mini-grids. CBEA recently closed its first transaction to finance the electrification of 34,000 people in rural Tanzania and is extending its portfolio to include investments in other African geographies.
- CrossBoundary Educational Infrastructure (CBEI): CBEI develops and finances school campuses and quality student housing across African markets. The fund’s turn-key solutions for education infrastructure offers a design that benefits students’ learning outcomes at a cost lower than local bank financing. CBEI helps early- and growth-stage educational operators scale cost-effectively, and it is currently sourcing deals in Uganda as well as other additional markets across Sub-Saharan Africa.
Job Description
The CrossBoundary Group is recruiting a full-time Senior Fund Accountant to lead and oversee compliance of its direct investment vehicles. The Senior Fund Accountant will be responsible for overseeing the preparation and review of quarterly and annual financial statements, head up internal controls and processes, manage financial operations, and act as the contact point for all service providers including outsourced accountants, auditors, and other related parties. We will also look to you as a trusted business advisor. You will be called on for practical insights on how to make discrete business decisions that will directly affect the financial outcomes and operations of our investment vehicles. The Senior Fund Accountant will be part of the financial leadership of the investment funds business. This person works closely with the investment teams to ensure strong financial returns and compliance.
Who We Are
CrossBoundary operates in frontier and developing markets that offer immense investment opportunities. The chosen candidate will play an essential role in a unique team with the opportunity to make a significant impact on the private equity investment landscape in Africa. Team members come from diverse backgrounds, but share several of qualities: curiosity, humility, integrity, a drive for excellence, and a bias for action.
Who You Are
- Self-starter who is passionate about creating lasting change in frontier and developing market
- The belief that innovation is at the heart of finding solutions to the world’s biggest challenges
- Background and interest in accounting for alternative investment funds
- Creative, discerning, and detail-oriented regarding the proper application of accounting principles to various transactions
- A problem-solver who perseveres through complicated puzzles and builds systems from solutions
- Strategic thinker who acts with both team and broader group objectives in mind
- Confident and effective communicator, especially in cross-cultural contexts
- Willingness to work and live in challenging environments
- Ability to manage multiple workstreams, prioritise, and deliver on tasks independently
Primary Responsibilities
- Oversee the financial close process for all regional fund entities, managing local accounting service providers in Mauritius and seven other African countries
- Perform cash balance reconciliations
- Manage quarterly and annual investor financial reporting processes, including approval of financial statements and capital account statements
- Design and implement a robust internal control environment across all entities and ensure adherence to group reporting policies
- Oversee invoicing and collections for operational assets
- Manage tax compliance and audit for operational entities, in conjunction with local service providers
- Prepare budgets and forecasts for fund entities
- Manage and track debt and cash balances for each fund
- Lead capital activity including capital calls, distributions, valuations, and finance facility sweeps/transfers
- Calculate fair value/NAV of investments where required
- Read and interpret investor agreements
- Collaborate with internal and external legal teams to monitor fund loan and equity covenants
- Collaborate with investment officers to design fund performance metrics and portfolio monitoring processes
- Recommend and implement automation and documentation of fund management processes
- Train new and existing team members to build Group fund management expertise
Qualifications
The ideal candidate will have the following skills and qualifications:
- Experience working across multiple African jurisdictions
- Interest in designing and implementing financial management and compliance processes for newly established funds (process, team, systems, etc.)
- Comfort with ambiguity; ability to operate effectively within a growing business
- Ability to edit/interpret financial models for a wide range of structures and scenarios
- Working proficiency with Deltek, Preqin, Sage Suite or similar preferred
- Desire to play a senior role advising the scale-up of innovative financing ventures
Required skills and qualifications:
- Strong quantitative and technical accounting skills
- Chartered Accountant, CPA, CIMA, or similar qualification
- 2-5 years post qualification experience, preferably working in private equity, venture capital or infrastructure fund management
- Understanding of the key commercial terms in legal contracts and how to apply them to fund management processes
- Proficient in Microsoft Office (Word, Excel, PowerPoint)
Location
Nairobi, Kenya
Equal Opportunity Employer
CrossBoundary is an equal opportunity employer