Assistant Treasurer - 1940 Act Funds

Northern Trust; Chicago (IL); On-site; USD 114,500 - 194,700; Full time

Benefits offered by this job

Comprehensive benefits package

401k and pension

Health and welfare benefits

Paid time off

Discretionary bonus program

Job summary

Northern Trust in Chicago is seeking a financial expert primarily responsible for ensuring compliance with GAAP in financial reporting for 1940 Act Funds. The successful candidate will oversee accounting and financial reporting functions while collaborating closely with various partner areas within the firm.

Applicants should have at least 10 years of experience in the mutual funds industry, with strong communication and leadership skills. A CPA credential is preferred, and a comprehensive benefits package is offered, including health, retirement plans, and a bonus program.

Qualifications

• Minimum of 10 years of proven related work experience in mutual funds and ETF industry.
• Experience with 1940 Act funds financial reporting is required.
• Highly flexible and adaptable to change.

Responsibilities

• Ensure financial statements are prepared in accordance with GAAP.
• Establish and maintain disclosure controls and procedures.
• Prepare items for independent Mutual Fund Board presentation.

Skills

Financial Reporting

Tax Reporting

Treasury/Budgeting

Fund Accounting

Communication Skills

Leadership Skills

Education

College or University degree

CPA preferred

Job description

Job Description Summary

Responsible for ensuring policies and procedures are followed to ensure financial statements are prepared in accordance with GAAP. In this role reporting to the Treasurer of Proprietary 40 Act Funds, responsibilities include oversight of Asset Management’s Accounting/Financial Reporting, Controls, Operations and 40 Act Regulatory adherence for the 1940 Act Funds. Also, acts as the liaison with other Northern Trust partner areas, financial and accounting groups, and regulatory reporting groups.

Duties and Responsibilities

• Possess strong working knowledge of Financial Reporting, Tax Reporting, Treasury/Budgeting and Fund Accounting affecting regulated and unregulated investment companies.
• Understand GAAP for investment companies as well as financial statement presentation and disclosure rules established under Regulation S-X, Form N-1A and the Investment Company Act of 1940.
• Establish and maintain disclosure controls and procedures and internal controls over financial reporting under the Investment Company Act of 1940.
• Prepare and support items presented to independent Mutual Fund Board.
• Seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise.
• Focus of role is on execution of strategic direction of business function activities.
• Carrys out complex initiatives involving multiple disciplines and/or ambiguous issues.
• Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity.
• Participates in developing division strategic plan and sets goals and priorities based on the direction set for the unit; follows through to ensure that objectives are met.

Knowledge

• Excellent oral and written communication skills.
• In-depth Functional / Industry Knowledge of Asset Management and Treasury Services.
• Highly flexible and adaptable to change.
• Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.

Experience

• A College or University degree.
• Minimum of 10 years of proven related work experience in mutual funds and ETF industry, with specific experience with 1940 Act funds.
• 1940 Act funds financial reporting experience.
• CPA preferred.

Salary Range

$114,500 - 194,700 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).

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.