Fund Accountant

BANK OF CHINA LIMITED; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading financial institution in Singapore is seeking an experienced Fund Accountant to manage fund accounting operations and prepare financial statements in compliance with US GAAP and IFRS standards. The ideal candidate will have at least 5 years of experience in fund administration and must be proficient in fund accounting software. Strong analytical skills and proficiency in both English and Mandarin are required to handle client communications. Join a team dedicated to delivering accurate financial reporting and compliance in a dynamic environment.

Qualifications

• Bachelor’s degree in Accounting or related field.
• At least 5 years of working experience, 3 years in fund administration.
• Good working knowledge of investment products and fund regulations.

Responsibilities

• Manage daily operations for fund accounting activities.
• Prepare NAV calculations and financial reports.
• Ensure compliance with US GAAP and IFRS standards.

Job description

We are currently seeking a Fund Accountant who will report to the Fund Administration Manager. The Fund Accountant will be responsible for financial statements, fund accounting, financial reporting, and net asset value (NAV) calculations. The role involves ensuring accurate NAV calculations of investment funds, report deliverables, maintaining accurate records, and ensuring compliance with regulations and industry standards.

Responsibilities

• Manage and support daily operations for the fund accounting activities.
• Booking of trades, corporate actions, and maintaining fee accruals and expenses allocation in fund administration system.
• Reconciliation of investment asset positions, cash holdings and investigate the breaks if any.
• Prepare calculation of daily/monthly/quarterly Net Asset Values (NAV), financial reports for various funds and fund performance reports.
• Understand and apply various fund calculation methods based on investor returns, such as equalization and series accounting.
• Work closely with custodians/brokers to ensure on-time settlement of all equity, futures, FX trades and other trading activities.
• Monitors cash flows, expenses and fee calculations (performance fees, etc).
• Handle fund investors’ queries. Prepare capital call and distribution notices.
• Support multiple asset classes and various funds structure setup.
• Prepare financial statements in accordance to US GAAP and IFRS standards for Investment Funds and audit-related tasks.
• Assist to manage and coordinate client funds’ compliance and regulatory requirements involving auditors, corporate secretary, tax advisors and legal counsels.
• Participate in fund administration system rollout initiatives by coordinating with IT and other stakeholders to ensure smooth operational transitions for new fund services initiatives.
• Handle adhoc duties and group –wide projects to support the operational and fund accounting needs of the business and management.

Requirements

• A Bachelor’s degree in Accounting or related field, and preferably be a qualified Singapore Chartered Accountant (CA) or other equivalent qualifications.
• At least 5 years of working experience and 3 years of relevant experience in fund administration and knowledge of preparing funds’ financial statements is a must.
• Good working knowledge of investment products, investment operations and familiarity with fund regulations and accounting standards. Familiarity with various asset classes, such as equities, fixed income, derivatives, and alternative investments knowledge of MAS regulation requirements and able to draft Financial statements in accordance to US GAAP and IFRS standards for Investment Funds.
• Timeline cautious with the ability to complete fund accounting processes independently, with minimal supervision.
• Self-motivated, detailed-oriented and possess strong analytical skills.
• Good written, verbal communication skills in English and Mandarin, so as to communicate via Chinese business with Chinese speaking customers and head office.
• Experience in fund accounting software is a must, coupled with advanced proficiency in Microsoft Office, particularly Excel.