Job Description
We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.
Role Overview
The Accounts Payable Manager is responsible for overseeing day-to-day accounts payable operations for the Fund Accounting team. This role supports the accurate processing of invoices charged to investment funds and corporate entities, ensuring payments are executed in accordance with fund documents, internal controls, and firm policies. The Manager partners closely with Corporate Accounting, Treasury, Legal, and external vendors to maintain a consistent, well-controlled AP process.
Key Responsibilities
- Oversee daily AP processing activities across fund and corporate entities
- Review invoice allocations to funds and legal entities for accuracy and compliance
- Ensure proper invoice coding, including review against LPAs, contracts, and engagement letters
- Approve and oversee high‑volume accounts payable wire payments, ensuring transactions are executed in accordance with approved controls, authorization matrices, and cut‑off timelines, with escalation of exceptions as needed
- Confirm appropriate approvals are obtained prior to payment
- Coordinate resolution of vendor inquiries and invoice discrepancies
- Prepare and review invoice uploads into accounting systems
- Review and approve new vendor and fund setup requests
- Support reporting of AP activity to third-party fund administrators
- Assist with Due From Funds (DFF) reviews related to AP reimbursements
- Coordinate with Treasury on vendor payment execution and scheduling
- Ensure remittance advice is distributed to vendors timely
- Assist with review of bank reconciliations related to AP activity
- Track fund reimbursements and ensure proper application to open invoices
- Support month-end close activities related to accounts payable
- Prepare or review journal entries related to AP and fund reimbursements
- Review balance sheet reconciliations prepared by AP staff
- Ensure AP documentation and support is audit-ready and well organized
- Provide day-to-day guidance to AP staff and outsourced service providers
- Review work product for accuracy, timeliness, and adherence to procedures
- Assist with training, documentation, and process improvement initiatives
- Escalate issues, risks, or control gaps to senior leadership as appropriate
- Support the implementation and ongoing enhancement of accounts payable systems, including participating in requirements gathering, user acceptance testing, data validation, workflow design, and post‑implementation stabilization, in partnership with Treasury, IT, and Fund Accounting stakeholders
Qualifications
- 3-5 years of experience in accounts payable, fund accounting, or related finance roles
- Experience supporting investment funds or complex legal entity structures preferred
- Strong understanding of invoice processing, approvals, and payment controls
- Familiarity with accounting systems such as NetSuite, StavPay or similar platforms
- Strong attention to detail and ability to manage multiple priorities
- Effective communication skills and ability to partner cross-functionally
Salary Range: $120,000 - $130,000
The salary range is an estimate of pay for this position. Actual pay may vary depending on job-related factors that can include location, education, skill, and experience. The salary range does not include any benefits or other forms of possible compensation that may be available to employees.
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At StepStone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.
As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.
Candidates must be at least 18 years old to apply.
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