Senior Billing Specialist
19 days ago
New York
Job DescriptionTitle: Ops Professional (for Billing Function) Location: New York, NY (4 Days Onsite) 6-12Months& Job Description 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. 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 SkillsMandatory 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.