Analyst – Fund Accounting

Northern Trust Corp; Chicago (IL); On-site; USD 43,000 - 65,000; Full time

Job summary

Northern Trust is seeking an entry-level Analyst, Institutional Fund Accounting in the United States. The role supports daily NAV calculations and reconciliation for various fund types, ensuring accuracy and timely reporting.

You will use Excel and Power Suite to analyze exposures, earnings, and corporate actions, contributing to client statements and compliance. This in-person, full-time position offers growth in a global financial services environment and exposure to institutional fund

Qualifications

• Bachelor’s degree in Business preferred or relevant work experience.
• Entry-level role requiring basic accounting/finance knowledge.
• Strong Excel skills are a plus and ability to navigate Power Suite.

Responsibilities

• Determine NAV for defined contribution and defined benefit plans daily.
• Reconcile various fund types against benchmarks for daily valuation.
• Analyze portfolio impact from trading activity, income positions, accruals, and corporate actions.
• Audit income postings, accruals, corporate actions, and resolve cash/price variances on time.
• Prepare monthly and annual client reports and financial statements per GAAP.

Skills

Analytical skills

Organizational skills

Attention to detail

Multitasking

Ability to learn quickly

Education

Bachelor’s degree in Business

Tools

Microsoft Excel

Microsoft Power Suite

Job description

Analyst, Institutional Fund Accounting | Northern Trust

The Tone:

This is an entry-level, full-time role at Northern Trust, located in the U.S. Northern Trust is a global organization with over 24,000 partners, providing innovative wealth management, asset servicing, asset management, and banking services. This role is crucial for ensuring the accurate daily valuation of institutional investment funds, directly supporting the financial reporting needs of the world’s most successful individuals, families, corporations, and institutions.

The TL;DR

• Role: Early Career
• Type: Full-time
• Location: In-person U.S.
• Pay: $43200–$64800 yearly
• Mission: Evaluate, analyze, and reconcile mutual and separately managed funds to determine Net Asset Value (NAV) on a daily basis.
• Tech Stack: Microsoft Excel, Microsoft Power Suites

What You’ll Actually Do

• Determine NAV: Calculate the Net Asset Value (NAV) for defined contribution and defined benefit plans on a daily basis.
• Reconcile Funds: Evaluate and reconcile various fund types, including mutual, separately managed, commingled, and collective funds, often against benchmarks for daily valuation.
• Analyze Portfolio Impact: Assess the impact of investment manager trading activity, income positions, accruals, and corporate actions on investment portfolios and option market values.
• Audit and Resolve Exceptions: Audit income postings, accruals, corporate actions, and perform exception resolutions for cash, holdings reports, price variances, and expenses within scheduled timeframes.
• Prepare Reports: Assist in the timely preparation of monthly and annual client reports and financial statements in accordance with generally accepted accounting principles and performance standards.

The Must-Haves

• Background: Entry-level position with basic knowledge of accounting, finance, and securities, typically gained through business coursework or relevant prior experience.
• Experience: Prior related experience is beneficial, with a Bachelor’s degree in Business preferred or relevant work experience in Fund Accounting or Mutual Fund Accounting.
• Skills: Strong analytical and organizational skills to research and resolve inquiries, keen attention to detail and multi-tasking abilities to ensure accurate and timely fund valuation, and the capacity to quickly absorb information, meet deadlines, and maintain accuracy in a demanding environment.
• Bonus: Strong Excel skills and proficiency in Microsoft Power suites are a plus.
• Work Authorization: Applicants must be authorized to work in the U.S. without requiring employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity.