Job Description
Title: Ops Professional (for Billing Function)
Location: New York, NY (5 Days Onsite)
Job Description:
End-to-End Billing Management
- Lead the monthly, quarterly, and annual billing cycles across mutual funds, SMAs, hedge funds, and private equity vehicles.
- Review and calculate management fees, admin fees, performance fees, breakpoints, and waterfall structures.
- Maintain and update client-specific billing instructions, fee schedules, side letters, and negotiated terms.
Data Management & Reconciliation
- Aggregate AUM/holdings data from multiple custodians (LPL, Schwab, Fidelity, Pershing, etc.) and ensure consistency with internal systems.
- Perform in-depth reconciliations between:
- Custodian feeds
- Internal books & records
- Pricing & NAV systems
- CRM/contract repositories
- Identify and resolve discrepancies proactively to ensure accurate billing outputs.
Billing System Operations
- Operate and enhance workflows in billing engines such as:
- Revport
- Eagle/Advent APX Billing
- Salesforce (contract modules)
- Workday Financials or Oracle/NetSuite billing modules
- Configure rules, rate cards, fee tiers, client hierarchies, and exception logic in the billing platform.
- Partner with technology teams to drive automation and reduce manual touchpoints.
Invoice & Reporting
- Generate, validate, and deliver invoices for institutional clients, distributors, wealth platforms, and sub-advisory relationships.
- Coordinate with finance on revenue recognition and ensure alignment with GAAP and internal controls.
- Maintain dashboards and MIS covering billed revenue, accruals, write-offs, and client-level profitability.
- Process Governance & Client Interaction
- Serve as the subject-matter expert for billing queries from clients, auditors, relationship managers, and compliance.
- Enhance billing policies, documentation, SOPs, checklists, and control frameworks.
- Contribute to continuous improvement initiatives, including workflow redesign and automation using tools like Power BI, Alteryx, Tableau, or Python-based scripts.
Qualifications & Skills
Mandatory Experience
- 8+ years in a billing or revenue operations role within an Asset Management, Wealth Management, or Fund Administration organization.
- Strong understanding of fund structures, AUM feeds, custodial platforms, and fee mechanics.
- Technical & Tool Proficiency
- Experience working with at least one major billing system (Revport, APX Billing, Workday, Oracle, SAP, or custodian billing engines).
- Familiarity with data extract and reconciliation tools:
- Alteryx
- Power BI / Tableau
- Excel (advanced - macros, pivoting, lookups, modeling)
- Experience with document management or contract systems (e.g., Salesforce, SharePoint).
- Functional Expertise
- In-depth understanding of investment products (equity, fixed income, alternatives, SMAs, model portfolios, multi-asset funds)
- Strong command of fee structures: standard management fees, tiered breakpoints, performance fees, incentive fees, hurdle rates, distribution fees, platform fees, and negotiated institutional terms.
- Knowledge of billing-related controls, audit trails, and compliance requirements.
Soft Skills
- Exceptional attention to detail and accuracy in a high-stakes financial environment.
- Strong analytical and problem-solving mindset.
- Ability to communicate clearly with internal teams, tech partners, auditors, and high-value clients.
- Ownership mindset with ability to thrive in fast-paced, deadline-driven environments.
Preferred Experience (Nice to Have)
- Background in hedge fund or private equity fee calculations.
- Exposure to custodial billing for platforms.
- Experience in revenue assurance or fee leakage analysis.
- Prior involvement in migration or system-implementation projects for billing engines.
Job Tags
Contract work,