Fund Accounting Analyst

Job Description

Analyst, Institutional Fund Accounting | Northern Trust

The Tone:
This is an entry-level position at Northern Trust, a global leader in innovative wealth management, asset servicing, asset management, and banking services. Northern Trust, with over 135 years of financial experience and more than 24,000 partners, guides successful individuals, families, corporations, and institutions worldwide. This role is crucial for ensuring the accurate daily valuation of institutional investment funds, directly supporting the financial reporting and operational integrity for large asset owner plans.

The TL;DR
• Role: Early Career
• Pay: $41040–$61560 yearly
• Team: Under direct supervision of supervisors/experts
• Mission: Evaluate, analyze, and reconcile mutual and separately managed funds daily to determine Net Asset Value (NAV) and produce client reports.
• Tech Stack: Excel, Microsoft Power suites

What You’ll Actually Do
• Net Asset Value Determination: Determine the Net Asset Value (NAV) on a daily basis for defined contribution and defined benefit plans.
• Fund Reconciliation: Evaluate and reconcile mutual, separately managed, commingled, and collective funds for daily valuation, often compared against a benchmark.
• Portfolio Impact Analysis: Assess the impact of investment manager trading activity, income postings, accruals, and corporate actions on investment portfolio returns and option market values.
• Exception Resolution: Audit and resolve exceptions related to cash, holdings reports, price variances, expenses, expense accruals, and any activity in investment accounts within scheduled timeframes.
• Financial Reporting Support: Assist in the timely preparation of monthly and annual reports, financial statements in accordance with GAAP, and provide annual client portfolio and 5500 reporting.

The Must-Haves
• Background: Entry-Level. Bachelor’s degree in Business preferred or relevant work experience in Fund Accounting or Mutual Fund Accounting. Basic knowledge of accounting, finance, and securities.
• Experience: Prior related experience. Works with large asset owner plans, primarily large Defined Contribution (i.e. 401k) and Defined Benefit (Pension) ERISA plans. Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future.
• Skills: Analytical skills, organizational skills, attention to detail, multi-tasking skills, ability to absorb information quickly, work in a fast-paced environment, meet deadlines, and maintain accuracy. Strong Excel skills are required.
• Bonus: Usage of Microsoft Power suites.