Mutual Fund Administration Senior Specialist

Northwestern Mutual; Milwaukee (WI); Hybrid; USD 70,000 - 105,000; Full time

Benefits offered by this job

Flexible work schedules

Concierge service

Comprehensive benefits

Employee resource groups

Job summary

Northwestern Mutual in Milwaukee, WI is seeking a Fund Accountant to support the Mutual Fund Administration division. You will oversee outsourced fund accounting and pricing services, coordinate daily valuation controls, and prepare financial statements and related disclosures.

The role requires a Bachelor's in Accounting/Finance, 3 years of accounting experience, and strong analytical and communication skills. CPA or candidate preferred; teamwork and meeting deadlines are essential.

Qualifications

• Bachelor's degree in Accounting or Finance.
• Three years of prior accounting experience.
• CPA or CPA candidate preferred.
• Working knowledge of GAAP and/or tax accounting for investments.

Responsibilities

• Oversee outsourced service providers including fund accounting and pricing services.
• Coordinate controls over daily valuation of mutual funds.
• Prepare and review financial statements and related financial materials and disclosures.
• Provide financial information for internal and external customers, including regulatory filings.
• Ensure mutual fund compliance with IRS, SEC and regulators.
• Engage in projects related to new products, funds, regulations, and system enhancements.
• Lead small project efforts and assist on complex projects.
• Identify book-to-tax differences and oversee tax calculations for mutual funds.
• Collaborate with internal/external contacts (traders, auditors, custodians, advisors).
• Suggest and review methods to improve processes and controls.

Skills

Analytical ability

Strong communication

Ability to work with limited guidance

Problem-solving

Education

Bachelor's degree in Accounting or Finance

Tools

GAAP knowledge

Job description

About The Job

The Mutual Fund Administration (MFA) division is responsible for fund administration related to the Northwestern Mutual Series Fund which consists of 30 portfolios. MFA is also responsible for accounting and financial reporting related to Northwestern Mutual's variable annuity and variable life separate accounts.

What You'll Do:

• Perform oversight of outsourced service providers including but not limited to fund accounting and pricing services
• Execution and coordination of controls over daily valuation of mutual funds.
• Preparation and review of financial statements and related financial materials and disclosures.
• Provides financial information to meet the needs of internal and external customers, including preparing regulatory filings for the Securities and Exchange Commission, performance calculations and marketing information.
• Responsible for mutual fund compliance with the IRS, SEC and all other regulators.
• Researches and engages in various projects associated with new products, new funds, new regulations, system enhancements and ad hoc requests.
• May be asked to lead small project efforts and assist on complex projects.
• May be asked to Identify book to tax differences and oversee the preparation of the excise and fiscal tax calculations for the mutual funds.
• Demonstrates ability to work with internal and external contacts such as information systems, investment traders, auditors, brokers, custodians and investment advisors.
• Recommends and reviews new methods to allow for added process/control improvements

What You'll Bring:

• Bachelor's degree in Accounting or Finance
• Three years of prior accounting experience
• High degree of self-motivation
• Proven ability to meet strict deadlines
• Strong oral and written communication skills
• Ability to work well with limited guidance
• Demonstrated superior analytical and problem-solving ability
• Demonstrated ability to retrieve and utilize information from accounting system and other sources
• CPA or CPA candidate preferred
• Previous mutual fund administration, mutual fund accounting, or investment company audit experience preferred.
• A working knowledge of GAAP and/or tax accounting for investments.
• Ability to work well in a team environment

Skills You'll Have:

• Prepares and presents financial statements accurately and reports that summarize the financial performance and position of NM's products and services, adhering to accounting principles and regulatory requirements. This includes analyzing financial data, reconciling accounts, and effectively communicating financial information to internal and external stakeholders to facilitate decision-making and ensure transparency and compliance.
• Demonstrates knowledge of various types of financial instruments such as stocks, bonds, derivatives, structured securities, and alternative investments to effectively engage with stakeholders involved in the investment process.
• Demonstrates ability to understand and apply the concepts of internal controls over financial reporting and applicable business cycles (e.g., Budget, Expenditure, Revenue, Payroll, Property).
• Pursues learning and obtains knowledge continuously in relevant fields, methods, or technologies in current and future practices; continuously utilizes critical thinking to identify opportunities, execute solutions, and measure impact to constantly improve existing practices and processes based on feedback, lessons learned, and market trends.

#LI-Hybrid

Compensation Range:

Pay Range - Start:

$70,320.00

Pay Range - End:

$105,480.00

Geographic Specific Pay Structure:

Structure 110:

$77,360.00 USD - $116,040.00 USD

Structure 115:

$80,880.00 USD - $121,320.00 USD

We believe in fairness and transparency. It's why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you're living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click here to learn more.

Grow your career with a best-in-class company that puts our clients' interests at the center of all we do.

Northwestern Mutual is an equal opportunity employer that welcomes talented individuals of all backgrounds. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.

We're excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and our commitment to a culture of belonging.

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups