Credit - Accounting Manager

Socket.dev; New York (NY); On-site; USD 130,000 - 180,000; Full time

Benefits offered by this job

Health insurance 90% premiums covered

Fully funded HSA employer contribution

401(k) employer match 100% up to 5%

Flexible paid time off

Generous holiday calendar

Hybrid work environment

Job summary

Petra Funds Group in New York seeks a Credit Accounting Manager to lead the fund accounting lifecycle for BDCS, including NAV oversight, portfolio valuation support, and investor reporting.

You will collaborate with fund administrators, auditors, and investor relations, guiding a team of fund accountants and ensuring compliance with the '40 Act and US GAAP.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• 6+ years of fund accounting experience with BDCs or private credit.
• Strong working knowledge of the '40 Act and BDC regulatory requirements.
• Experience with NAV oversight, portfolio valuation, and credit facility compliance.
• People management experience with direct reports.
• Strong US GAAP knowledge for investment companies/credit funds.
• Experience collaborating with fund administrators and external auditors.

Responsibilities

• Oversee day-to-day fund accounting operations for a portfolio of Business Development Companies (BDCs), including senior secured loans, unitranche, mezzanine, and other private credit instruments
• Manage NAV calculation process and review, ensuring accuracy and timeliness across monthly/quarterly close cycles
• Review and support portfolio valuation processes in coordination with valuation committees, third-party valuation firms, and investment teams
• Ensure compliance with the Investment Company Act of 1940 ('40 Act) and other applicable BDC regulatory requirements
• Prepare and review financial statements, investor reporting packages, and regulatory filings (e.g., Form 10-K, 10-Q, N-2 as applicable)
• Manage relationships with fund administrators, external auditors, custodians, and tax advisors
• Lead, mentor, and develop a team of fund accountants/analysts
• Oversee credit facility compliance, covenant monitoring, and borrowing base calculations
• Partner with investor relations on investor reporting deliverables, capital calls, and distributions
• Support audit processes, including coordination of PBC (prepared-by-client) items and audit inquiries
• Identify and implement process improvements to enhance accuracy, efficiency, and scalability of accounting operations
• Stay current on accounting standards (US GAAP) and regulatory changes impacting BDCs and private credit vehicles

Skills

Fund accounting

NAV oversight

US GAAP

BDC regulatory

Team leadership

Financial reporting

Investor reporting

Regulatory compliance

Portfolio valuation

Audit coordination

Education

Bachelor's degree in Accounting/Finance

Job description

About Us

Petra Funds Group is a leading provider of comprehensive fund administration and infrastructure services for both private equity and debt funds. Our mission is to empower fund managers to concentrate on value-adding activities while entrusting us with their administrative and operational needs.

Our team comprises highly skilled professionals across the US and Europe, distinguished by our deep industry experience and commitment to accuracy and timeliness. Our reputation is built on trust, expertise, and meticulous attention to detail. We pride ourselves on our collaborative approach and relentless pursuit of excellence.

Petra’s credit operations compliments the fund administration offering and provides support to private credit managers of all sizes and strategies. This includes a flexible approach to credit middle office operations, loan agency and monitoring services, as well as other pre and post execution support.

About the Role

We are looking for a Credit Accounting Manager to lead fund accounting operations for our Client's portfolio of Business Development Companies (BDCs). This role owns the full accounting lifecycle for leveraged credit vehicles — NAV oversight, portfolio valuation support, investor reporting, and compliance with the '40 Act and related regulatory requirements. You'll manage a team responsible for accurate, timely financial reporting across complex credit structures (senior secured loans, unitranche, mezzanine, and other private credit instruments), partner closely with fund administrators, auditors, and investor relations, and serve as a key technical resource on BDC-specific accounting and regulatory nuances. Ideal for someone who thrives in a fast-paced private credit environment and wants ownership over both the technical accounting and the team leading it.

Responsibilities

• Oversee day-to-day fund accounting operations for a portfolio of Business Development Companies (BDCs), including senior secured loans, unitranche, mezzanine, and other private credit instruments
• Manage NAV calculation process and review, ensuring accuracy and timeliness across monthly/quarterly close cycles
• Review and support portfolio valuation processes in coordination with valuation committees, third-party valuation firms, and investment teams
• Ensure compliance with the Investment Company Act of 1940 ('40 Act) and other applicable BDC regulatory requirements
• Prepare and review financial statements, investor reporting packages, and regulatory filings (e.g., Form 10-K, 10-Q, N-2 as applicable)
• Manage relationships with fund administrators, external auditors, custodians, and tax advisors
• Lead, mentor, and develop a team of fund accountants/analysts
• Oversee credit facility compliance, covenant monitoring, and borrowing base calculations
• Partner with investor relations on investor reporting deliverables, capital calls, and distributions
• Support audit processes, including coordination of PBC (prepared-by-client) items and audit inquiries
• Identify and implement process improvements to enhance accuracy, efficiency, and scalability of accounting operations
• Stay current on accounting standards (US GAAP) and regulatory changes impacting BDCs and private credit vehicles

Qualifications

• Bachelor's degree in Accounting, Finance, or related field
• 6+ years of fund accounting experience, with direct exposure to BDCs or private credit vehicles
• Strong working knowledge of the '40 Act and BDC-specific regulatory/reporting requirements
• Experience with NAV oversight, portfolio valuation processes, and credit facility compliance
• People management experience (direct reports)
• Strong understanding of US GAAP as applied to investment companies/credit funds
• Experience working with fund administrators and external auditors

Salary Range

At Petra Funds Group, we are committed to transparency and equity in our hiring practices. The compensation range for this position is $130,000 - $180,000 per year. This range represents the base salary only. Actual pay will depend on factors such as qualifications, experience, and skills.

How We Care

We believe people do their best work when they feel supported — personally and professionally. That’s why we offer a comprehensive benefits package that reflects our commitment to your well-being. Our perks include:

• 90% covered medical, dental, and vision insurance premiums to help you stay healthy without financial strain.
• Fully funded Health Savings Account (HSA) employer contributions up to the IRS maximum — available to employees enrolled in our high-deductible health plan. *
• 401(k) employer match at 100% of your contributions up to 5% of compensation, with immediate vesting, so you start building long-term savings right away.
• Flexible paid time off to recharge, travel, or take care of what matters most.
• Generous holiday calendar to ensure you have time to rest, reflect, and celebrate throughout the year.
• Hybrid work environment that offers flexibility and supports work-life balance.

*Funded amount is prorated for new hires.

What We’re Proud Of

We’re proud of many milestones, but we’re especially honored by the recognition we’ve received for our workplace experience:

• Certified Great Place to Work®, based on direct feedback from our employees about trust and overall culture.
• Fortune Best Medium Workplaces™ and Best Financial Services & Insurance Workplaces™, highlighting our commitment to building an environment where people thrive.