Analyst, Institutional Fund Accounting

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

Job summary

Northern Trust, a global financial services leader, seeks an Entry level Analyst to evaluate and reconcile funds and determine NAV daily for large Defined Contribution and Pension plans. You will audit income postings, accruals, and corporate actions within scheduled timeframes.

Responsibilities include producing monthly and annual reports, addressing inquiries, and ensuring accurate fund valuation. A business degree and US work authorization are required.

Qualifications

• Basic knowledge of accounting, finance and securities; coursework/experience.
• Analytical skills and organizational skills to resolve inquiries within deadlines.
• Attention to detail and multitasking to value funds accurately and timely.
• Ability to absorb information quickly in a fast-paced environment and meet deadlines.
• Strong Excel skills and Microsoft Power suites are a plus.
• Bachelor’s degree in Business or relevant Fund Accounting experience preferred.
• Authorized to work in the U.S. without visa sponsorship now or in the future.

Responsibilities

• Determine Net Asset Value (NAV) for defined contribution and defined benefit plans daily.
• Evaluate and reconcile mutual, separately managed, commingled, and collective funds against benchmarks.
• Analyze impact of transactions, income positions, accruals, and corporate actions on investments.
• Audit and resolve exceptions on assigned accounts per procedures and timelines.
• Assist in timely preparation of monthly and annual reports and financial statements.
• Record and respond to partner and client inquiries resolving account exceptions.
• Value funds daily and provide client portfolio and 5500 reporting annually.

Skills

Analytical skills

Attention to detail

Excel skills

Power suites

Absorb information quickly

Education

Bachelor's degree in Business

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. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

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.

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.
• 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 and performance standards.
• Record and respond to partner and client inquiries resolving exceptions related to accounts.
• Value funds on a daily basis.
• Provide client portfolio and 5500 reporting on an annual basis.
• Expected to use some initiative but refer more complex problems to supervisors/experts.

Qualifications

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).

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

Salary Range: $43,200 - 64,800 USD Salary range is a good faith estimate of base pay.

Benefits

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).

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. Looking for greater? You found it. A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

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.

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO Know Your Rights (U.S.)