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About the Role
This role sits directly with one of Petra's clients, an established alternative investment manager. The Senior Fund Accountant will own the accuracy and timeliness of all fund accounting deliverables for an assigned group of funds and co-investment vehicles, serving as the first level of review over administrator-prepared work product.
Responsibilities
- Prepare all capital activity, either in-house or by kickstarting and reviewing the administrator's process.
- Build and validate investor-level allocations of called and distributed amounts in line with the LPA, side letters, and subsequent closes.
- Review and tie out investor notices and statements against the underlying model and GP cover letter.
- Confirm notice dates, funding due dates, and wire instructions are consistent across all documents.
- Coordinate the wire package with the administrator and track funding receipt through resolution.
- Maintain a clean audit trail across models, approvals, notices, and funding confirmations.
- Review invoices against supporting documentation, vendor, amount, period, and GL coding.
- Determine fund vs. manager vs. shared expense classification against the LPA, side letters, and firm expense policy.
- Perform high-level reasonableness checks on allocations and flag recurring or unusual items to the Controller.
- Input and release wires for distributions, fundings, expenses, and intercompany transfers, following dual-approval and callback protocols without exception.
- Support bank account opening and maintenance for funds, co-invest vehicles, and SPVs.
- Reconcile operating and capital accounts, research and clear breaks, and manage cash tied to investment activity, including escrow, holdback, and lender draws.
- Monitor liquidity and flag anticipated shortfalls ahead of funding dates.
- Serve as first-level reviewer on close packages, allocations, distribution waterfalls, carried interest, PCAPs, net IRR, remaining commitment schedules, draft financials (year-end), management fee calculations, reconciliations, and the NAV build.
- Foot and cross-foot, recompute independently, and document review comments through to clearance.
- Drive the close calendar with the administrator and escalate presentation or treatment questions to the Controller.
- Support K-1 preparation and review, coordinate with tax preparers, and assemble audit PBC deliverables.
- Take on other ad hoc analysis and projects as assigned.
Requirements
- 4-6 years of fund accounting experience at a Big 4/national firm (asset management practice), a fund administrator, or in-house at a private equity or credit manager.
- Experience with closed-end drawdown funds.
- Strong command of US GAAP and ASC 946 investment company accounting, capital call and distribution mechanics, partner allocations, distribution waterfalls, management fee and carried interest calculations, and ASC 820 fair value concepts.
- Ability to read an LPA and side letters and translate the economic terms into a calculation, without relying on someone else's summary.
- Advanced Excel skills.
- Hands-on treasury experience: initiating and releasing wires, building funding/payment schedules, and performing cash reconciliation across multiple entities.
- CPA, active or in progress.
- Exposure to credit vehicles, co-invest vehicles, SPVs, parallel funds, and blocker/feeder structures.
- Working knowledge of a fund accounting platform (Investran, eFront, Allvue, Geneva, or similar) and of Sage or QuickBooks.
- Prior experience reviewing outsourced administrator work product; experience with Petra and/or Northern Trust is a distinct plus.
- Comfort using AI platforms to work more efficiently.
Skills
- US GAAP
- ASC 946 investment company accounting
- Capital call and distribution mechanics
- Partner allocations
- Distribution waterfalls
- Management fee and carried interest calculations
- ASC 820 fair value concepts
- Advanced Excel
- Treasury
- Wire initiation and release
- Funding/payment schedules
- Cash reconciliation
- Fund accounting platform (Investran, eFront, Allvue, Geneva, or similar)
- Sage
- QuickBooks
- AI platforms
Location
- US
- Europe
Work Type
- Hybrid
Experience Level
- 4-6 years
Education Level
- CPA, active or in progress
Salary/Compensations
- $102,000 - $153,000 per year
Benefits
- 90% covered medical, dental, and vision insurance premiums
- Fully funded Health Savings Account (HSA) employer contributions up to the IRS maximum
- 401(k) employer match at 100% of your contributions up to 5% of compensation, with immediate vesting
- Flexible paid time off
- Generous holiday calendar
About the Company
- 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.
- 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.
Equal Opportunity
- Certified Great Place to Work®
- Fortune Best Medium Workplaces™
- Fortune Best Financial Services & Insurance Workplaces™