Credit Accounting Manager

Petrafundsgroup; New York, Northern (NY, KY); Hybrid; USD 130,000 - 180,000; Full time

Benefits offered by this job

90% covered medical, dental, andvision

HSA employer contributions

401(k) matching up to 5%

Flexible paid time off

Generous holiday calendar

Hybrid work environment

Job summary

Petra Funds Group, a New York-based private capital firm, seeks a Credit Accounting Manager to own day-to-day accounting and financial reporting for the credit and hybrid capital portfolio, in collaboration with the COO/CCO, fund administrators, auditors, and the investment team.

This hands-on role shapes processes and controls as the platform grows, overseeing loan-level accounting, NAV calculations, and annual audits in a lean, fast-paced environment.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• 5-8+ years of accounting experience in private credit, direct lending, or hybrid capital fund structures.
• Experience with loan-level accounting mechanics (PIK, OID, amortization).
• Experience coordinating year-end audits with a fund administrator.
• Strong Excel skills; familiarity with fund accounting systems.

Responsibilities

• Own the accounting and valuation process for private credit, structured equity, and special situations investments.
• Prepare and review monthly, quarterly, and annual financial statements and investor reporting packages.
• Track and reconcile facility draws, borrowing base calculations, covenant compliance, and interest accruals.
• Manage cash management, capital calls and distributions, and treasury functions for fund/SPV entities.
• Support NAV calculations and carry/management fee computations in partnership with the administrator.
• Coordinate the year-end audit process with external auditors and tax preparers.
• Develop scalable accounting processes and internal controls as the platform grows.
• Respond to investor due diligence requests and quarterly reporting.

Skills

Accounting

Private credit

Fund accounting

Excel

Auditing

Financial reporting

Education

Bachelor's degree in Accounting, Finance, or related field

Tools

Investran

eFront

Allvue

Job description

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 join our Client's team and own day-to-day accounting and financial reporting for the firm's credit and hybrid capital portfolio, working closely with the COO/CCO, external fund administrators, auditors, and the investment team. This is a hands-on role suited to a candidate who is comfortable operating with limited existing infrastructure and wants to help shape process and controls as the platform grows.

Our client is a private capital investment firm headquartered in New York that provides flexible, customized financing solutions to middle-market businesses. The firm invests across the capital structure through a hybrid strategy that blends private credit, structured equity, and special situations investing - including senior and junior debt, preferred and structured equity, and rescue or transition capital for founder-led and sponsor-backed companies navigating growth, liquidity, or ownership transitions. The portfolio spans a range of industries and includes both control and non-control positions, with holding structures common to private credit and hybrid capital vehicles (SPVs, credit facilities, and fund-level co-investments).

Responsibilities:

• Own the accounting and valuation process for a portfolio of private credit, structured equity, and special situations investments, including loan-level accounting (PIK, OID, amortization, prepayments, fee income).
• Prepare and review monthly, quarterly, and annual financial statements and investor reporting packages in coordination with the third-party fund administrator.
• Track and reconcile credit facility draws, borrowing base calculations, covenant compliance, and interest accruals across the portfolio.
• Manage cash management, capital call and distribution processing, and treasury functions for fund and SPV entities.
• Partner with the investment team on deal closings to ensure new investments are properly onboarded into accounting systems and records.
• Coordinate the year-end audit process, including preparation of audit schedules, supporting documentation, and liaison with external auditors and tax preparers.
• Support NAV calculations, management fee and carried interest computations, and waterfall mechanics in partnership with the administrator.
• Assist in building and documenting scalable accounting processes, internal controls, and policies as the firm grows its AUM and investor base.
• Respond to ad hoc investor due diligence requests and support quarterly investor reporting and capital account statements.

Qualifications:

• Bachelor's degree in Accounting, Finance, or related field.
• 5-8+ years of accounting experience, with direct exposure to private credit, direct lending, or hybrid capital fund structures.
• Experience with loan-level accounting mechanics (PIK, OID, amortization schedules, unitranche/first lien-second lien structures).
• Prior experience working with a fund administrator and coordinating year-end audits for private fund vehicles.
• Strong Excel skills; experience with fund accounting or portfolio management systems (e.g., Investran, eFront, Allvue, or similar).
• High attention to detail, strong organizational skills, and comfort operating in a lean, fast-paced, entrepreneurial environment.
• Big Four or national accounting firm audit background with private funds or asset management clients.
• Prior experience at a private credit manager, BDC, or hybrid capital/special situations platform.
• Familiarity with capital call/distribution mechanics, waterfall structures, and management fee/carry calculations.

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 t hat 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 and 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.