Accounting Manager, Management Company Finance New Evanston, IL

Magnetar is a leading global alternative asset manager with $17B+ AUM as of June 30, 2026. We are based in Evanston, IL - just north of Chicago and easily accessible by the 'L' - with additional offices in New York, London, Menlo Park, CA, and Austin, TX.

Grounded in two decades of investing experience, we aim to generate consistent performance for our investors by identifying differentiated investment opportunities and building scalable businesses across our core strategies: Alternative Credit and Fixed Income, Quantitative Investing, and Venture.

Magnetar employees are among the best in the business at what they do. Our employees thrive on intellectual curiosity, collaboration and identifying creative solutions to complex problems. Our team is made up of highly skilled, passionate professionals who care deeply about delivering results for our investors, our firm and one another. We are proud to foster an inclusive, welcoming environment that empowers each employee to succeed.

At Magnetar, our commitment to our employees matches our dedication to our work. We offer top-tier benefits including comprehensive health, dental and vision insurance, a 401k match, competitive paid time off, wellness programs, daily lunches, and professional development through Magnetar University. We are also passionate about giving back, supporting financial education and community engagement through our Foundation and various volunteer initiatives.

We hope you'll consider joining us as you explore a career at Magnetar!

Position Overview

We are seeking an experienced and motivated Accounting Manager to join our Management Company Finance team. This individual will oversee a team of three accounting professionals and play a key role in the firm's management company accounting, financial reporting, and growing GP investment activities.

The ideal candidate is a hands-on accounting professional who combines strong technical expertise with the ability to lead and develop a team. This is an opportunity to take ownership of core accounting functions, enhance processes and controls, and collaborate across a dynamic alternative investment firm.

Responsibilities

• Manage and develop a team of three accounting professionals, providing oversight, guidance, and support while ensuring accuracy and timely completion of deliverables.
• Oversee day-to-day corporate accounting activities, including general ledger maintenance, journal entries, account reconciliations, and month-end and year-end close processes.
• Manage the preparation and review of financial statements, management reporting, and supporting financial analyses.
• Oversee accounting and financial reporting related to the firm's GP investments, including capital contributions, distributions, investment activity, and related transactions.
• Identify opportunities to streamline accounting workflows, strengthen internal controls, and improve the efficiency and accuracy of financial reporting.
• Coordinate with external auditors and support annual financial audits, including preparation of schedules and supporting documentation.
• Support regulatory reporting, tax-related reporting, and other compliance requirements.
• Partner with colleagues across Fund Finance, Operations, Tax, Legal, and investment teams to ensure appropriate accounting treatment and reporting of business activities.
• Leverage NetSuite and other financial systems to improve reporting capabilities and operational efficiency.
• Participate in special projects and initiatives as the firm's business continues to evolve.

Qualifications

• Bachelor's degree in Accounting or a related field.
• 5-10 years of accounting experience, preferably including public accounting and corporate accounting experience.
• CPA required.
• Strong knowledge of U.S. GAAP, financial reporting, general ledger accounting, and internal controls.
• Experience managing accounting close processes, preparing financial statements, and supporting financial audits.
• Experience reviewing others' work or overseeing staff, whether in a formal supervisory role or not, preferred.
• Experience in financial services, asset management, or alternative investments preferred.
• Exposure to GP investment accounting, investment partnerships, or investment-related transactions is a plus.
• Proficiency in Microsoft Excel and experience with NetSuite or a comparable general ledger system.
• Strong analytical, organizational, and problem-solving skills with exceptional attention to detail.
• Ability to manage competing priorities, exercise sound judgment, and collaborate effectively across teams.
• Proactive, hands-on approach with the ability to coach others, improve processes, and take ownership of results.

The annual base salary range for this position is $125,000 to $175,000 USD. The actual base salary will depend upon the candidate's relevant experience, qualifications, skills, business needs and market. This role may be eligible for a discretionary bonus and if awarded is based on a variety of factors including firm and individual performance.

Applicants must be authorized to work in the United States without the need for employer sponsorship now or in the future.

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.

AI Disclaimer

Magnetar uses AI tools such as Claude, an AI assistant developed by Anthropic, to support certain recruiting and talent acquisition activities, such as tracking candidates' status in the recruiting process, interviewer preparation, and interviewer feedback consolidation. These tools may facilitate recruiting and hiring-related processes. Information processed may include application materials, resumes, interview notes, interviewer feedback, candidate status information, and related communications. Magnetar uses an enterprise version of Claude that operates in a closed-loop environment and does not permit information processed by the system to be publicly available.

The AI tool currently used for these purposes is Claude, an AI assistant developed by Anthropic. Magnetar uses AI for the following types of positions: exempt positions.

Hiring decisions are made by authorized Magnetar personnel. No AI tool makes or determines any employment decision. AI-generated output is used only as a support tool and is subject to human review. Magnetar does not rely solely on AI-generated output, including any score, tag, classification, ranking, recommendation, or similar output, with no other factors considered. Magnetar also does not use any such output as one of a set of criteria where the AI-generated output is weighted more than any other criterion, or to overrule conclusions derived from other factors, including human decision-making.

Magnetar will not use artificial intelligence with respect to recruitment, hiring, promotion, renewal of employment, selection for training or apprenticeship, discharge, discipline, tenure, or the terms, privileges, and conditions of employment in a manner that has the effect of subjecting employees or applicants to discrimination on the basis of protected classes under the Illinois Human Rights Act or any other appliable law, or use zip codes as a proxy for protected characteristics.

Magnetar is aware of fraudulent job post schemes, such as phishing emails, that invite candidates to apply and interview for positions at Magnetar. We take this matter very seriously. If you have applied for a position at Magnetar through our Careers Page, any follow up communication will come from @magnetar.com. Any emails from accounts that do not end in @magnetar.com are fraudulent. Suspicious messages can be reported to Magnetar at View email address on click.appcast.io.