About Magnetar
Magnetar is a leading, global alternative asset manager with over $17.5B AUM as of June 30, 2024. Grounded in nearly two decades of investing experience, we focus on delivering positive outcomes for our investors by seeking to generate consistent performance across a variety of market conditions through our core businesses: Alternative Credit and Fixed Income, Healthcare and Systematic Investing. We are based in Evanston, IL with additional offices in New York, and London.
Magnetar employees are among the best in the business at what they do. We attract highly skilled, dedicated professionals who enjoy collaborating and implementing innovative ideas. Our employees have an intense level of intellectual curiosity, a profound passion for our work and care deeply about delivering results for our investors, the firm and for each other. We work hard to foster an inclusive and welcoming environment where employees are empowered to thrive.
We are purposeful about investing in our employee’s health, well-being and firm culture. When you work at Magnetar, you will receive premier health care benefits, eligibility to enroll in a 401(K) savings program with employer match, unlimited PTO, lunch onsite, access to mental and physical wellness programs, the opportunity to participate in employee affinity groups with curated programming and networking events, and much more.
Position Overview
As Manager – Expense Management & Analysis at Magnetar, you will benefit from the knowledge and experience of a broader team and work closely with a mentor/supervisor who will provide regular feedback and guidance.
This individual will have varying degrees of responsibility across vendor management, invoice and expense review processes, vendor payments, and robust financial reporting & analysis. The Manager - Expense Management & Analysis can expect a high degree of visibility into the workings of the Firm, and will be expected to be an independent thinker and problem solver. The role will also regularly deal with highly confidential information and thus the Manager – Expense Management & Analysis will be expected to have a high level of integrity and trustworthiness.
Magnetar’s culture is based on the core values of insight, integrity and passion. We have an intense level of intellectual curiosity, a profound passion for our work and care deeply about delivering results for the Firm and for each other. These qualities drive everything we do.
Responsibilities
The Manager – Expense Management & Analysis will support the Management Company Finance team (responsible for the day-to-day financial management of the Firm, financials, and multiple audits). This individual will report to the Director – Expense Management & Analysis and assist with management of Analysts on the Expense Management & Analysis team.
- Contribute to and take ownership of the ongoing efforts to improve the efficiency, accuracy, and organization of the vendor management and accounts payable processes.
- Perform first-level reviews of New Contract and Contract Renewal requests
- Leading weekly invoice processes, inclusive of accounting-level invoice review to confirm accuracy, completeness, and timeliness of invoice processing.
- Assess adherence of invoice expense recognition with Magnetar’s cost allocation methodologies to ensure accurate expense recognition in the financials.
- Researching and resolving requests and/or inquiries from internal stakeholders and external vendors, inclusive of vendor payment escalations to ensure operational continuity.
- Monitoring and updating of the accounts payable system user access and permissions for employee hires, terminations, role changes, and any other changes affecting system access and/or workflow.
- Drive the implementation of new systems supporting contract management, vendor management, and spend management functions.
- Developing reporting as needed and providing to management or other internal stakeholders on a regular basis.
- Perform ad hoc special project work and analysis for reporting or information requests, system modifications, or new product deployment.
- Work closely and cohesively with the Management Accounting and Financial Planning & Analysis team to ensure efficiency and accuracy of processes across the Management Company Finance function
- Various other tasks as needed, including first level reviews and ad-hoc analyses.
Qualifications
- 5 – 7 years of work experience in finance or accounting role
- BA/BS in Accounting or related field preferred
- Competent in accounting and financial reporting
- Experience with process implementation and related internal controls
- Easily coachable and ready to take on a leadership role on the team
- Strong analytical and decision-making skills
- Detail oriented with excellent organizational skills
- Proficiency in Microsoft Office – specifically Excel, Word and PowerPoint
- Experience or familiarity with Concur and NetSuite would be a bonus
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
