NAV Construction Accountant

Margetts; Birmingham; On-site; GBP 60,000 - 80,000; Full time

Job summary

A reputable financial services firm in Birmingham seeks a NAV Construction Accountant for a permanent, office-based role. The successful candidate will focus on calculating the daily Net Asset Value for various funds and ensure compliance with accounting principles. Key responsibilities include maintaining accruals, monitoring expenses, and collaborating with financial reporting teams. Ideal candidates have relevant experience, analytical skills, and a commitment to continuous improvement. This position offers a competitive salary and a 15% discretionary bonus.

Benefits

Competitive salary

15% discretionary bonus

Qualifications

• Relevant experience within a regulated firm, with strong awareness of applicable accounting policies.
• Track record of designing controls to identify anomalies in accruals and fee calculations.
• Commitment to ongoing improvement and operational robustness.

Responsibilities

• Maintain accurate accruals for fund operating expenses.
• Monitor fund-level expense caps and fee waivers.
• Calculate and validate income accruals for various income streams.
• Perform amortisation calculations for bonds and fixed-income securities.
• Reconcile cash movements against accruals and resolve discrepancies.
• Collaborate with Fund Financial Reporting team for process improvements.

Skills

Attention to detail

Strong analytical skills

Effective communication

Training and developing staff

Education

ACCA, ACA, CIMA or equivalent

Tools

FIS InvestOne

Excel

SQL

Job description

NAV Construction Accountant

Job Type: Office Based, Full time, Permanent, 8.30am to 5pm Monday-Friday, no weekend work.

Industry: Financial Services

Location: Jewellery Quarter, Birmingham

Salary and Benefits: Competitive salary and 15% discretionary bonus

The Company

Margetts offer fund management and ACD services for UK UCITs and NURs. We currently operate over 100 funds with approximately £13Bn Assets Under Management (AUM). The funds include a range of asset classes including equity, fixed income, property, derivatives, and fund of funds.

We currently employ 90+ members of staff across 6 departments.

Company Values

We will add value and work smart

We will be kind

We will recognise our achievements and learn from our mistakes

The Role

The NAV Construction team sits within Investment Operations and is responsible for calculating the daily Net Asset Value, unit prices, and income distributions of UK UCITs and NURs for all funds.

The NAV Construction Accountant reports to the NAV Construction Manager and is responsible for the application and oversight of accounting principles within the funds. The NAV Construction Accountant works alongside the NAV Construction Team Leader who is responsible for daily price delivery within SLAs.

Main responsibilities include :

• Maintaining accurate accruals for fund operating expenses, including management fees, audit fees, custody fees, and administrative charges.
• Monitoring fund-level expense caps and fee waivers to ensure expenses remain within contractual thresholds.
• Calculating and validating income accruals for interest, dividends, AMC rebates, withholding tax, scheme corporation tax and other income streams.
• Performing amortisation / accretion calculations for bonds and fixed-income securities using effective interest rate or straight-line methods as appropriate.
• Reconciling cash movements against accruals and investigating / resolving any discrepancies.
• Collaborating with the Fund Financial Reporting (FFR) team to identify and implement process improvements. FFR’s responsibilities include producing semi-annual financial statements and answering audit queries.
• Calculating Ongoing Charge Figure (OCF).
• Reviewing and developing processes to enhance accuracy, efficiency, and scalability.

Qualifications

The successful candidate is likely to possess

• Relevant experience within a regulated firm, with strong awareness of applicable accounting and valuation policies.
• A high attention to detail, with a track record of designing controls to identify anomalies in accruals, fee calculations, or income processing.
• A commitment to ongoing improvement, with a focus on scalability and operational robustness.
• Strong analytical skills and the ability to effectively communicate with stakeholders.
• Experience in training and developing junior staff members.

Desirable qualifications

• ACCA, ACA, CIMA or equivalent (or working toward one).
• Experience using FIS InvestOne.
• Working knowledge of UK SORP.
• Confidence working with large data sets using Excel, SQL, or other tools.
• Experience performing line management responsibilities for a small team.