Ops Professional (for Billing Function)

Cygnus Professionals Inc.; New York (NY); On-site; USD 100,000 - 130,000; Full time

Job summary

A financial services company is hiring a Senior Billing Specialist in New York, NY, requiring extensive experience in end-to-end billing cycles within the Asset Management industry. This role involves managing complex fee calculations, enhancing billing governance, and ensuring accurate invoicing. Candidates should possess strong analytical skills, expertise with billing systems like Revport, and an ownership mindset to thrive in a high-stakes environment. Join us to contribute to automating billing processes and managing client interactions.

Qualifications

• 8+ years in billing or revenue operations within Asset Management or Wealth Management.
• Strong understanding of fund structures and fee mechanics.
• Experience with major billing systems like Revport or Workday.

Responsibilities

• Lead billing cycles across various fund structures.
• Review fees including management and performance.
• Identify discrepancies in billing outputs.

Skills

Attention to detail

Analytical mindset

Problem-solving

Communication skills

Tools

Revport

Workday Financials

Oracle

Alteryx

Power BI

Job description

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We are seeking a highly skilled and detail-oriented Senior Billing Specialist with extensive experience in the Asset Management industry. The role requires deep expertise in managing end-to-end billing cycles, including fee calculation, AUM data aggregation, reconciliation, and invoice generation across a variety of fund structures and distribution channels. The ideal candidate has hands‑on experience with advanced billing tools, custodial platforms, and reporting systems, and can seamlessly translate complex fee arrangements into accurate billing outputs.

This individual will play a critical role in strengthening our billing governance framework, enhancing automation, reducing revenue leakage, and ensuring timely and error‑free invoicing for institutional, intermediary, and private wealth clients.

Responsibilities

• 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.
• Aggregate AUM/holdings data from multiple custodians (LPL, Schwab, Fidelity, Pershing, etc.) and ensure consistency with internal systems.
• Perform in‑depth reconciliations between:
  • Internal books & records
  • 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
• 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.
• 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
• 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.