Analyst, Institutional Fund Accounting

Socket.dev; Chicago (IL); On-site; USD 43,000 - 65,000; Full time

Job summary

Northern Trust is seeking an Entry Level Analyst to support NAV calculations and fund accounting tasks daily, under supervision. You will assist in reconciling mutual and managed funds and preparing client month-end statements in line with GAAP standards.

Ideal candidates bring foundational accounting knowledge, strong Excel skills, and the ability to work in a fast-paced environment with attention to detail. Bachelor's in Business or related experience preferred; visa sponsorship not offered.

Qualifications

• Bachelor’s degree in Business preferred or related work experience in Fund Accounting or Mutual Fund Accounting.
• Basic knowledge of accounting, finance and securities.

Responsibilities

• Determine Net Asset Value (NAV) for defined contribution and defined benefit plans on a daily basis.
• Reconcile funds including mutual, separately managed, commingled, and collective funds for daily valuation.
• Analyze the impact of transactions, income positions, accruals, and corporate actions on the portfolio investment options.
• Audit and resolve exceptions on assigned accounts according to procedures and within scheduled timeframes.
• Assist in the timely preparation of monthly and annual reports and financial statements in accordance with generally accepted accounting principles.

Skills

Excel

Analytical skills

Attention to detail

Education

Bachelor's degree in Business

Tools

Microsoft Power BI

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.

Entry Level Analyst Position

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. The analyst will assess the impact of investment manager trading activity on the investment portfolio returns and option market values and will also audit income postings, accruals, and corporate actions all within scheduled time frames. The analyst will be responsible for performing exception resolutions of cash, holdings reports and price variances, expenses and expense accruals, and also any activity in the investment accounts.

1. 1.Determine Net Asset Value (NAV) for defined contribution and defined benefit plans on a daily basis.
2. 2.Evaluate and reconcile funds including mutual, separately managed, commingled, and collective funds, often compared against a benchmark, for daily valuation.
3. 3.Analyze the impact of transactions, income positions, accruals, and corporate actions on the portfolio investment options.
4. 4.Audit and resolve exceptions on assigned accounts according to procedures and within scheduled timeframes.
5. 5.Assist in the timely preparation of monthly and annual reports and financial statements in accordance with generally accepted accounting principles and performance standards.
6. 6.Record and respond to partner and client inquiries resolving exceptions related to accounts.
7. 7.Value funds on a daily basis.
8. 8.Provide client portfolio and 5500 reporting on an annual basis.
9. 9.Expected to use some initiative but refer more complex problems to supervisors/experts

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.

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

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 (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa)

Salary Range:
$43,200 - 64,800 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

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 (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.