Petra Funds Group is a single source provider for the fund administration and fund infrastructure needs of Private Equity and Debt Funds. At Petra, we enable fund managers to focus on the tasks that add the most value to their businesses and leave the rest to us.
Petra is made up of highly experienced professionals across the US and Europe. In a business where accuracy and timeliness are paramount, having a deep bench who have spent years working inside of asset managers is what truly differentiates us.
Our foundation is built on trust, experience, and uncompromising accuracy. Our people are experts. We work collaboratively. We are relentless in our process and put attention to detail first.
The Management Company, Accounting Manager will support the CFO and management company finance team across accounting and reporting for general partner and management company entities as well as coordinating with service providers to handle: recurring intercompany settlements and accounts payable processes. The role executes these processes accurately and on schedule, taking day-to-day direction from a single point of contact in Corporate Finance. Location is required to be in New York, NY with four days a week in the office; availability during U.S. Eastern business hours is required.
Responsibilities:
Work with the external service providers to coordinate information gathering from the respective funds to create and maintain the general partner and management company entity financial records
Monitor intercompany balances between the management company and the funds, identifying amounts due and preparing the supporting detail behind each balance
Prepare and issue intercompany invoices and facilitate the settlement process through to cash movement, on a quarterly cycle or as directed
Own the intercompany and receivable accounts on the management company balance sheet, keeping every balance supported, current, and explainable at any point in the quarter
Maintain schedules that trace every invoiced balance to the underlying transaction-level detail and to the general ledger
Maintain accounts receivable aging reports across fund balances
Own the collections process end to end, including direct follow-up with fund contacts, escalation of past-due balances, and pursuit of open items through to resolution
Own the outcome, not just the report: drive outstanding accounts receivable balances down quarter over quarter and prevent unbilled activity from accumulating
Reconcile billed amounts to the underlying expense detail and to recorded receivable balances
Prepare new and updated vendor and other entity records in the accounts payable platform
Allocate invoices for payment within the accounts payable platform and submit them for approval
Obtain and maintain vendor W-9 and W-8 documentation
Qualifications:
5-10 years of experience with upper tier private fund general partner and management company legal entities
Experience preparing and/or managing the accounts payable, billing, or intercompany settlement functions ideally within financial services, private equity/alternative investments, or professional services
Demonstrated ownership of balance sheet accounts, including reconciliation and explaining period-over-period movement
Experience building and maintaining accounts receivable aging reports, with a track record of driving collections to resolution
Strong Excel skills, including reconciling detailed transaction populations to summary balances
Experience preparing and issuing invoices (intercompany or client-facing) with full supporting documentation
Familiarity with vendor tax documentation (W-9/W-8) and annual 1099 preparation
Clear written and verbal communication skills, with experience representing a firm professionally in direct contact with external stakeholders
Ability to work independently against a recurring calendar (monthly or quarterly close) with limited supervision
Salary Range:
At Petra Funds Group, we are committed to…