Analyst, Institutional Fund Accounting

About the Role

Entry level analyst position under direct supervision responsible for evaluating, analyzing and reconciling mutual funds and separately managed funds to determine the Net Asset Value (NAV) on a daily basis and for the production of client month-end reports. The analyst works on large asset owner plans, primarily large Defined Contribution (i.e. 401k) and Defined Benefit (Pension) ERISA plans.

Key Responsibilities

• Determine Net Asset Value (NAV) for defined contribution and defined benefit plans on a daily basis.
• Evaluate and reconcile funds including mutual, separately managed, commingled, and collective funds, often compared against a benchmark, for daily valuation.
• Assess the impact of investment manager trading activity on the investment portfolio returns and option market values.
• Audit income postings, accruals, and corporate actions within scheduled time frames.
• Perform exception resolutions of cash, holdings reports and price variances, expenses and expense accruals, and any activity in the investment accounts.
• Record and respond to partner and client inquiries resolving exceptions related to accounts.
• Provide client portfolio and 5500 reporting on an annual basis.
• Expected to use some initiative but refer more complex problems to supervisors/experts.

Requirements & Tech Stack

• Basic knowledge of accounting, finance and securities, usually obtained through business related coursework and/or prior related experience.
• Analytical skills and organizational skills are required to research and resolve inquiries within scheduled timeframes to meet client deadlines.
• Attention to detail and multi-tasking skills are required to value the funds in a timely and accurate manner.
• Ability to absorb information quickly, work in a fast-paced environment and meet deadlines while maintaining accuracy is critical.
• Strong Excel skills and usage of Microsoft Power suites is a plus.

Qualifications

• Bachelor’s degree in Business preferred or relevant work experience in Fund Accounting or Mutual Fund Accounting.

Work Authorization: Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity.