Associate Accountant, Fund Accounting

ACCA Careers; Chicago (IL); On-site; USD 43,000 - 65,000; Full time

Benefits offered by this job

Health benefits

401(k) and pension

Paid time off

Discretionary bonus program

Job summary

Northern Trust is seeking an Entry-Level Fund Accountant to support daily fund accounting and financial reporting. You will prepare records, assist NAV calculations, and reconcile accounts in a collaborative environment with mentorship and training provided.

The role is ideal for recent graduates pursuing accounting/finance, offering exposure to mutual funds, hedge funds, and other investment vehicles within a renowned global firm. A strong Excel background and teamwork are valued.

Qualifications

• Bachelor's degree in Accounting, Finance, Business, or a related field is required.
• Strong analytical and problem-solving skills are essential.
• High attention to detail and accuracy is required.
• Proficiency in Microsoft Excel is expected.
• Strong communication and teamwork abilities are important.
• Internship or accounting/finance experience is a plus.

Responsibilities

• Prepare and maintain daily, weekly, and monthly fund accounting records.
• Assist in calculation and verification of Net Asset Values (NAVs).
• Reconcile cash, securities, and other balance sheet accounts.
• Monitor and resolve accounting breaks and reconciliation discrepancies.
• Process and review investment transactions, including purchases, sales, income, and corporate actions.
• Ensure adherence to internal controls, policies, and procedures.
• Participate in process improvement initiatives to enhance efficiency and reduce risk.

Skills

Analytical skills

Attention to detail

Microsoft Excel

Communication

Teamwork

Internship experience

Education

Bachelor's degree in Accounting, Finance, Business, or related field

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 Fund Accountant

Join our Fund Accounting team and build a strong foundation in investment operations and financial reporting. This role is ideal for recent graduates or early-career professionals interested in accounting, finance, and investment funds.

Key Responsibilities

• Prepare and maintain daily, weekly, and monthly fund accounting records.
• Assist in the calculation and verification of Net Asset Values (NAVs) for investment funds.
• Reconcile cash, securities, and other balance sheet accounts.
• Monitor and resolve accounting breaks and reconciliation discrepancies.
• Process and review investment transactions, including purchases, sales, income, and corporate actions.
• Ensure adherence to internal controls, policies, and operating procedures.
• Participate in process improvement initiatives to enhance efficiency and reduce operational risk.

Qualifications

• Bachelor's degree in Accounting, Finance, Business, or a related field.
• Strong analytical and problem-solving skills.
• High attention to detail and accuracy.
• Proficiency in Microsoft Excel.
• Strong communication and teamwork skills.
• Prior internship or accounting/finance experience is a plus.

Preferred Skills

• Knowledge of mutual funds, hedge funds, private equity funds, or other investment vehicles.
• Ability to work well both independently and as a team
• Effective written and verbal communication skills
• Adaptability in a fast-paced, deadline-driven environment

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.