Summary
Overview
Work History
Education
Skills
Professional qualifications
Awards
Timeline
Generic

JOE YIP TSZ CHUNG (葉子聰)

Certified Public Accountant (HKICPA)
Kowloon

Summary

Certified public accountant with 17 years' experience in asset management across major Asian financial centers in Hong Kong, Singapore, and Tokyo. Former audit manager at Ernst & Young specializing in investment manager and investment funds. Oversight on fund accounting, investment valuation and modelling, investor reporting and tax reporting and analysis for fund size over US$1 billion. Reviewed investments totaling up to US$2 billion and structured deals from an finance, tax and operational perspective. Managed treasury and cashflow functions, and implemented and upgraded ERP and portfolio management systems. Reviewed existing finance and operational policy for process enhancements. Skilled in regulatory compliance, risk management, and HR responsibilities (including team expansion and payroll management). Knowledgeable in corporate accounting including different fees and carry structure.

Overview

19
19
years of professional experience
2
2
Languages

Work History

SENIOR FINANCIAL CONTROLLER, FINANCE

PAG
8 2023 - Current
  • Led a team of 4 under the CFO, overseeing investment accounting, treasury operations, and process enhancements.
  • Managed weekly cashflow and reporting for multiple funds, advising on financial decisions (capital calls, distributions and facility repayments).
  • Provided oversight on fund flow, payments approvals, and identified areas for operational and financial improvements.
  • Maintained and updated finance and operations manuals as needed.
  • Collaborated with deal team on investment accounting, cashflow and portfolio management updates, and return projections (IRR and MoIC).
  • Proposed and implemented changes to portfolio management systems for enhanced tracking and reporting (such as enhancing loan trackers and investment concentration and limits).
  • Mentored junior team members on audit issues across various jurisdictions (Cayman Islands, BVI, Hong Kong, Singapore and India).
  • Served as an ESG Committee member for quarterly meetings and training programs.
  • Spearheaded new process implementation and automation projects, including payment process automation, loan administration consolidation and investment reporting.

VICE PRESIDENT, INVESTMENT OPERATIONS

Ares Management Asia
06.2019 - 07.2023
  • Managed a team of 8, overseeing investment structure setup, accounting, project management, and operational risk identification.
  • Reviewed management accounts, disclosures, and worked with auditors for annual audits.
  • Prepared operational budgets and quarterly meeting materials for stakeholders.
  • Led investment projects totaling over US$2 billion, focusing on tax and operational related structure and related risks.
  • Established and managed custodian accounts for cash and securities, handling trade settlement, review reconciliations and related activities.
  • Implemented various fund investment structures set up across different jursidictions (including Hong Kong Limited Partnership, Renminbi Qualified Foreign Limited Partnership, Qualified Domestic and Foreign Limited Partnership structures)
  • Drive business improvements projects and new policy and regulatory regime implementations (e.g. improve efficiency of intra-group master loan program, updated risk management framework, updated ESG policy and implemented Economic Substance policy for BVI and Cayman Islands).
  • Identified operational risks and implemented related controls for identification of root causes as part of risk management processes.

SENIOR MANAGER, FINANCE & OPERATIONS

ShawKwei & Partners (SKP)
04.2017 - 06.2019
  • Led a team of 5 overseeing fund accounting, corporate accounting, human resources, treasury management, and investor support.
  • Managed inhouse fund and accounting and administration functions, corporate accounting, tax reporting, treasury functions, budget forecasting, and stakeholder presentations.
  • Reviewed and analyzed quarterly NAVs and financial statements, overseeing audits.
  • Monitor budget versus actual variances and expense allocations and reimbursements between investment manager, advisor and funds.
  • Conducted valuations for a portfolio exceeding US$1 billion.
  • Reviewed fundraising materials and supported due diligence for a new fund setup (with target fund size of US$1 billion).
  • Assisted the investment team with financial and commercial due diligence and post-investment activities.
  • Developed internal control, governance, and compliance policies and manuals (eg. finance and operations manual, risk management framework, business continuity plan).
  • Managed human resource functions, including team management, expansion, and payroll.

ASSOCIATE, FUND ADMINISTRATION AND INVESTOR REPORTING

PAG
1 2016 - 4 2017
  • Reported directly to the General Manager/CFO and is responsible for reviewing valuations and management accounts, investor reporting and managing fund set up processes.
  • Review financial statements and analyse quarterly NAV prepared by fund administrator under US GAAP and IFRS and manage overall annual audit process;
  • Responsible for reviewing fund raising materials (PPM/LPA), tax structuring documentation and investor due diligence questionnaires for new fund with target AUM of US$1.9 billion;
  • Work closely with the investment management team for investment structuring and valuation and financial model and assisted to project key returns (IRR/EM);
  • Responded to investors investment/cashflow projections related questionnaires;
  • Review internal control processes and drafted the operation manual; and
  • Manage KYC process for new accounts opening processes with banks and brokers and review related agreements (ISDA agreements, related sub-schedules and CSA).

AUDIT MANAGER

Ernst & Young LLP (EY)
11.2011 - 12.2015
  • Assisted partners in business development and managed engagements with a team of 5 audit seniors of different scope and structures to ensure timelines are met and audit issued are resolved.
  • Responsible for asset management clients with audit fee of over US$1.0 million;
  • Involved in the business development (presentation and proposals and fee);
  • Evaluate, plan, budget, execute audit programs including testing of internal controls;
  • Experienced with regulation with MAS of Singapore, SFC in Hong Kong, and AML/CFT;
  • Audited Investment Managers and Funds (IFRS / USGAAP) with varying structures; and
  • Participated in the coordination of complex valuation process with internal valuation team.

PERSONAL ASSISTANT TO CHAIRMAN

Mayberry Investments Limited
04.2010 - 09.2011
  • Assumed the role of management trainee and undergo training in portfolio management, corporate financing, bonds and equity trading for local and international markets.
  • Constructed and managed high net worth clients’ portfolio;
  • Assisted in the construction and monitoring on performances of fixed income products;
  • Performed foreign exchange trading transactions (USD, EUR, GBP, CAD, JMD);
  • Analyzed bonds and equities and made buy/sell recommendation to clients;
  • Determine valuation using discount cash flow model, comparable multiples for IPO; and
  • Monitor and manage corporate projects (change and upgrade of banking and CRM system).

AUDIT SENIOR

Ernst & Young LLP (EY)
09.2005 - 05.2009
  • Developed strong relationships with clients, addressing concerns promptly and providing timely updates on progress throughout the engagement process.
  • Assisted in the preparation of audit reports, presenting findings clearly and concisely to senior management for review.
  • Increased overall reliability of financial statements by performing detailed reviews of account reconciliations and supporting documentation.
  • Conducted walkthroughs of various business processes, gaining an in-depth understanding of operations while identifying potential control weaknesses.
  • Provided guidance to junior auditors on best practices, fostering a collaborative working environment and enhancing team performance.
  • Managed multiple engagements simultaneously, prioritizing tasks effectively to meet client deadlines consistently.
  • Evaluated critical business systems and processes, identifying areas of potential risk exposure and offering recommendations to mitigate those risks.

Education

Bachelor of Arts - Commerce

University of Toronto
Toronto
04.2001 -

Skills

  • Cross border investment structure review

  • Fund Accounting and Administration

  • Corporate Accounting

  • Fundraising and Investor Reporting

  • Valuation, financial modelling and fund return projections

  • Portfolio management and ongoing review

  • Pre-investment financial due diligence and execution of post investment plans

  • Operation risk improvement and internal policy implementation

  • Human resource and team management and payroll functions

  • ERP (SAP) system implementation

  • Treasury and securities operations

  • External Audit process

  • Financial Reporting Standards (IFRS, US GAAP)

  • Licensed and regulated entity compliance requirements and KYC related matters

  • Knowledgeable on ESG related policies

  • Microsoft Office, Bloomberg, PEFO, Sentry, Coupa, SAP ByDesign, Gold Mine CRM, Unibanx

Professional qualifications

  • Member of Hong Kong Institute of Certified Public Accountants (HKICPA) since 2009
  • Candidate in the Chartered Financial Analyst Program (CFA - Level II)
  • Bachelor of Commerce, Honors (with Distinction) from University of Toronto, Canada (2001 - 2005)

Awards

Golden Key International Society Award (CGPA within top 10% of program studied)

Timeline

VICE PRESIDENT, INVESTMENT OPERATIONS

Ares Management Asia
06.2019 - 07.2023

SENIOR MANAGER, FINANCE & OPERATIONS

ShawKwei & Partners (SKP)
04.2017 - 06.2019

AUDIT MANAGER

Ernst & Young LLP (EY)
11.2011 - 12.2015

PERSONAL ASSISTANT TO CHAIRMAN

Mayberry Investments Limited
04.2010 - 09.2011

AUDIT SENIOR

Ernst & Young LLP (EY)
09.2005 - 05.2009

Bachelor of Arts - Commerce

University of Toronto
04.2001 -

SENIOR FINANCIAL CONTROLLER, FINANCE

PAG
8 2023 - Current

ASSOCIATE, FUND ADMINISTRATION AND INVESTOR REPORTING

PAG
1 2016 - 4 2017

Similar Profiles

CREATE PROFILE
JOE YIP TSZ CHUNG (葉子聰)Certified Public Accountant (HKICPA)