Role: Ops Professional/Senior Billing Specialist
Location: New York City, NY / 4 days onsite in a week
Employment Type: Contract
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.
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.
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.