Compensation Manager for Partners

4 weeks ago


Houston, Texas, United States Wegman Full time
Job Description

We are seeking a skilled Compensation Manager for Partners to join our team at Wegman. This role will be responsible for managing partner distributions, maintaining partner capital accounts, and addressing any partner-related inquiries.

Key Responsibilities:

  • Calculate and prepare partner monthly and annual cash distributions, working closely with finance, tax, and IT departments to ensure an effective and timely distribution process.
  • Prepare and issue monthly statements to partners, including detailed breakdowns of gross distributions, deductions, and capital account balances.
  • Ensure proper tax withholdings are made for all partner distributions and handle any necessary tax reporting.
  • Manage partner capital accounts and update compensation schedules on a monthly basis, conducting reconciliations as needed.
  • Review and analyze personal charge and tax accounts, identifying and resolving any issues.
  • Prepare year-end close out journal entries for partner capital and draws.
  • Work closely with the firm's accounting and tax teams to ensure all financial data is accurately reported for book and tax purposes.
  • Monitor cash flow related to partner tax advances and related withholding.
  • Manage the partner compensation system, reconciling the system reporting to partner compensation schedules and the firm's general ledger.
  • Serve as the primary point of contact for the administrative aspects of partner monthly distributions statements, responding to partner inquiries and providing timely and accurate information.
  • Perform partner compensation forecasts and budgets, including requests for partner budget process schedules.
  • Assist with requests from other groups and departments related to partners.
  • Develop and implement policies and procedures related to partner compensation, driving process improvements and utilizing technology to enhance efficiency.
  • Assist with financial statement, tax, and compliance audits.
  • Monitor current and proposed changes in tax laws and regulations related to partner compensation.
  • Assist with non-periodic assignments related to partner compensation, capital, personal charges/taxes, income verifications, distribution forecasts, and other ad-hoc reporting as requested by management.


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