Credit Portfolio Associate

Petra Funds Group is a single source provider for the fund administration and fund infrastructure needs of Private Equity and Debt Funds. At Petra, we enable fund managers to focus on the tasks that add the most value to their businesses and leave the rest to us.

Petra is made up of highly experienced professionals across the US and Europe. In a business where accuracy and timeliness are paramount, having a deep bench who have spent years working inside of asset managers is what truly differentiates us.

Our foundation is built on trust, experience, and uncompromising accuracy. Our people are experts. We work collaboratively. We are relentless in our process and put attention to detail first.

The Portfolio Credit Associate will serve as the primary execution resource within the Portfolio Management function, working directly under the Head of Portfolio Management. This individual will handle the day‑to‑day issuer‑level monitoring across our Client's direct lending and leveraged finance portfolio — collecting and spreading borrower financials, tracking covenant compliance, maintaining the watchlist and RAG scorecard, preparing materials for lender calls, supporting quarterly valuation, and directing the firm’s outsourced data‑support team.

The Head of Portfolio Management directs the credit approach and makes the key judgment calls today; over time, the Associate will develop deep, cross‑product credit expertise and grow into greater independent responsibility. This role is intentionally designed as a development path — the ideal candidate is curious, adaptable, and eager to expand alongside our Client's product set, with the ambition to grow into a broader portfolio management role as the firm scales.

At the core of the function is data — the discipline of capturing, structuring, and interrogating issuer‑ and portfolio‑level information underpins every decision — and the ideal candidate pairs that data‑first rigor with the resourcefulness to think outside the box and build practical solutions in a lean, fast‑moving environment.

• Serve as the primary user and owner of data integrity for the firm’s portfolio monitoring system, ensuring accuracy, completeness, and consistency of all issuer‑level data across the platform
• Onboard new credits into the firm’s portfolio management systems upon close, capturing deal terms, financial covenants, reporting obligations, and key contact information as directed
• Build and maintain the borrower compliance calendar for each credit, mapping financial reporting deadlines, covenant testing dates, and lender call schedules
• Populate the initial RAG scorecard and baseline credit profile for each new issuer using the criteria and benchmarks set by the Head of Portfolio Management
• Ensure executed credit agreement terms, amendments, and side letters are accurately reflected in monitoring records, coordinating with the deal team
• Track and test financial maintenance covenants (leverage, coverage, liquidity, and other as applicable) on each testing date, comparing reported figures against credit agreement thresholds
• Maintain a covenant compliance log for each issuer, documenting test results, waiver history, and amendment‑driven threshold changes
• Support the deal team and Head of Portfolio Management on covenant modifications, waiver requests, and amendments; track and record outcomes
• Identify and surface material changes in revenue, EBITDA, leverage, liquidity, and other KPIs; prepare issuer‑level performance summaries for the Head of Portfolio Management’s review
• Maintain issuer financial data in the portfolio management system and supporting systems, ensuring accuracy and completeness of historical records
• Assign, prioritize, and direct the vendor team’s workload to align with reporting deadlines, covenant testing dates, and quarterly cycles
• Review outsourced deliverables for accuracy and completeness before they feed into monitoring, reporting, and valuation; provide feedback and corrective direction as needed
• Prepare pre‑call briefing materials for recurring lender calls and borrower management updates, drawing on the latest financial data and…