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About the Role
As a Fund Accounting Director, you will lead and oversee a credit fund accounting team, ensuring the delivery of accurate and timely financial reports to our clients. You will be a technical expert in credit fund accounting and credit operations, including loan servicing, trade settlement, waterfall mechanics, and credit facility administration, while also acting as a trusted advisor to our clients, offering insights and solutions that enhance their operations. In this leadership role, you will drive process improvements, mentor and develop your team, and maintain the highest standards of service and accuracy. You will collaborate closely with senior leadership to align our services with the strategic needs of our clients and the overall growth objectives of Petra Funds Group.
Responsibilities
- Lead the fund accounting team in the preparation and review of financial statements, capital activity, and loan-level accounting, ensuring compliance with GAAP and other relevant accounting standards.
- Oversee accounting for direct lending, credit facilities, and portfolio monitoring, including principal and interest accruals, fee amortization, and PIK income.
- Manage waterfall calculations and distribution mechanics across credit vehicles, including CLOs where applicable.
- Oversee credit operations functions, including loan trade settlement (par and distressed), agent bank notices processing, deal closing mechanics, and position reconciliation across the loan lifecycle.
- Ensure accurate tracking of loan amendments, assignments, and participations, and their downstream impact on fund accounting records.
- Serve as the primary point of contact for key clients, addressing their needs and ensuring that their expectations are consistently met or exceeded.
- Oversee the monthly, quarterly, and annual closing processes, ensuring accuracy and timeliness in all deliverables.
- Understand and monitor borrowing base calculations, covenant compliance, and key terms of underlying credit agreements and subscription/leverage facilities.
- Partner with loan operations and portfolio monitoring teams to ensure accurate lender reporting, covenant tracking, and agent notice processing.
- Drive process improvements and implement best practices to enhance the efficiency and effectiveness of the credit fund accounting and operations functions.
- Mentor, coach, and develop the fund accounting team, fostering a culture of continuous learning and professional growth.
- Contribute to strategic planning and decision-making at the senior leadership level, providing insights and recommendations based on your expertise in credit fund accounting and operations.
Requirements
- Bachelor’s degree in accounting, Finance, or a related field; CPA or equivalent designation is preferred.
- At least 15 years of experience in fund accounting, with a strong, demonstrated focus on private credit, direct lending, or credit fund structures.
- Working knowledge of credit operations, including loan trade settlement, agent bank notices, and loan servicing systems (e.g., WSO, ClearPar, LoanIQ).
- Demonstrated leadership experience, with the ability to manage, mentor, and develop a team.
- Deep knowledge of GAAP, financial statement preparation, and fund administration processes as applied to credit vehicles.
- Hands-on experience with waterfall calculations, borrowing base mechanics, credit facilities, and covenant reporting.
- Experience with CLOs, subscription lines, or leverage facilities is a plus.
- Strong client management skills, with the ability to build and maintain relationships with key stakeholders.
- Excellent communication and interpersonal skills, with the ability to effectively collaborate across departments and with clients.
- Proactive, organized, and solution-oriented, with a relentless focus on accuracy and attention to detail.
- Ability to thrive in a fast-paced environment, managing multiple priorities, requests and deadlines.
Skills
- Fund accounting
- Credit fund accounting
- Credit operations
- Loan servicing
- Trade settlement
- Waterfall mechanics
- Credit facility administration
- GAAP
- Financial statement preparation
- Fund administration
- Loan trade settlement
- Agent bank notices
- Loan servicing systems
- CLOs
- Subscription lines
- Leverage facilities
- Client management
- Communication
- Interpersonal skills
- Collaboration
- Process improvement
- Leadership
- Mentoring
- Team development
- Strategic planning
Location
- US
- Europe
Work Type
- Hybrid
Experience Level
- Director
- 15+ years
Education Level
- Bachelor's degree in accounting, Finance, or a related field
- CPA or equivalent designation preferred
Salary/Compensations
- $146,000 - $219,000 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 fund administration and infrastructure needs for 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™