Senior Product Manager, Fund Management
The Company You’ll Join
At Carta we create owners and make private markets liquid.
We live in a world where some people live on the equity stack and enjoy exponential wealth growth and preferential tax treatment; others live on the debt stack and may work their entire lives for a company and retire only with the cash they’ve managed to save from their paychecks. Our contribution to solving the wealth inequality problem is moving people from the debt stack (payroll) to the equity stack. By making it as easy to issue equity to employees as it is to put them on payroll, we can create more owners.
At Carta, we are helpful, transparent, fair, and kind. We are relentless executors, unconventional thinkers, and masters of our craft.
To learn more, here is what one of our investors wrote about leading our Series F.
The Team You’ll Work With
This role is on the event-based accounting team within Investor Services. We solve for our internal fund administration team and CFOs/fund managers. We build the general ledger, nitty gritty accounting logic, and are stewards of data quality for our clients. We are the tip of the spear for the future of fund admin.
We are a team that moves quickly and values execution above all else. We pride ourselves on developing deep domain expertise so we understand complex accounting systems and bridge the gap between where we are today and what the future could be. We are thoughtful, hold the bar high for what good looks like, and are our own most stringent critic of the outcomes we produce.
The Problems You’ll Solve
Our fund admin business has grown at an unprecedented rate since we entered the market in mid 2018. To power this growth, we’ve built a world class accounting team, our own general ledger, and a framework we call event-based accounting. Our challenge now is to use this foundation to build the fund back office of the future; one where the accounting is automated and the fund administrator is freed up to provide white glove, CFO-like service. One where the accounting data is completely accurate and kept up to date in real time.
We break this down as two objectives - create leverage for our team and a source of truth for our clients.
Leverage: We must automate rote tasks within accounting to free up our team. Tasks like calculating expense ratios, reconciling bank charges, and entering share purchases all lend themselves well to software. We must find ways to eliminate manual data entry, build bulletproof calculations, and keep our funds books’ up to date in real time.
Truth: Audit is time consuming and clients catch errors. Fund legal documents must be retrieved and searched through to verify rules. We imagine a system where every output can be easily justified by seeing the math, accounting, legal documents, and business event that caused it altogether in one experience.
You’ll be facing a legacy industry entrenched in “the way we’ve always done it”, change averse auditors, and plenty that say it can’t be done. This is a tough problem set where none have succeeded before.
Some of the problems you’ll help us solve:
- How can we automate classifying, paying, and reconciling fund expenses?
- How can we better leverage the Carta network to automatically update fund holdings data?
- What would it take to make SPV fund administration completely automated?
The Impact You’ll Have
Most fund admin shops spend a majority of their time doing data entry, math and stitching data together between their ledger, excel, email, LP portal. Not only is this error prone and tedious, but it requires substantial effort and knowledge from fund managers/CFOs to make it run smoothly.
If we are successful, we free up our fund administrators to provide real value add service. They can be proactive partners that help run the back-office rather than a reactive group that requires close oversight. This means less effort from fund managers to start and run a fund. We believe that if that effort was spent on fundraising, investment theses, and getting deals done, that :
- More deals will get done with companies finding the right investors
- Limited PartnersPs will get better returns
- The world benefits from both the profit AND those companies creating value for us all
This is all made possible through automating accounting and bringing trust to fund data.
About You
You’re a problem solver who gets into the details. You know how to figure things out and ship good product where others spiral. You’re naturally curious and obsessive about learning. You care about doing the right thing as much as you do winning.
We are an equal opportunity employer and are committed to providing a positive interview experience for every candidate. If accommodations due to a disability or medical condition are needed, connect with us via email at [email protected]. As a company, we value fairness, helpfulness, transparency, leadership and build our teams around these values. Check out our careers page to get to know us better as you think about your next step at Carta.