Mutual Fund Administration Specialist

northwesternmutual; Milwaukee (WI); Hybrid; USD 61,000 - 91,000; Full time

Job summary

Northwestern Mutual in Milwaukee, WI is seeking a Mutual Fund Administration professional to oversee fund accounting, valuation controls, and financial reporting for NM's fund portfolios. You will coordinate controls and prepare financial materials and regulatory filings for the SEC and other regulators.

The role requires a Bachelor's degree in Accounting or Finance and up to three years of accounting experience, with strong communication, analytical skills, and GAAP knowledge for investments.

Qualifications

• Bachelor's degree in Accounting or Finance.
• Three years or less of prior accounting experience.
• High degree of self motivation.
• Proven ability to meet strict deadlines.
• Strong oral and written communication skills.
• Ability to work with limited guidance.
• Analytical and problem solving ability.
• Working knowledge of GAAP accounting for investments.

Responsibilities

• 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.
• Provide financial information to internal and external customers, including regulatory filings for the SEC, performance calculations, and marketing information.
• Responsible for mutual fund compliance with the IRS, SEC and all other regulators.
• Research and engage in projects related to new products, new funds, new regulations, system enhancements and ad hoc requests.
• May assist on projects.
• May identify book-to-tax differences and oversee excise and fiscal tax calculations for mutual funds.
• Demonstrates ability to collaborate with information systems, investment traders, auditors, brokers, custodians and investment advisors.

Skills

Self motivation

Deadline-driven

Oral and written communication

Analytical thinking

Accounting system data retrieval

Education

Bachelor's degree in Accounting or Finance

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 assist on 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.

What You'll Bring

• Bachelor's degree in Accounting or Finance
• Three years or less 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
• Analytical and problem solving ability
• Ability to retrieve and use information from accounting system and other sources
• Previous mutual fund accounting or administration experience a plus.
• A working knowledge of GAAP accounting for investments.
• Ability to work well in a team environment

Skills You'll Have

• Applies knowledge and utilizes systems that facilitate or automate one or more business application solutions, including linking rules to workflow management and requirements acquisition.
• Establishes, analyzes and interprets compliance metrics. Defines and implements monitoring controls in order to communicate compliance status, risks, trends and monitors results to stakeholders
• Facilitates collaboration, communication, coordination, and planning with individuals and teams from different functions within the organization, and who have different areas of expertise, to achieve common goals
• 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.

#LI-Hybrid

Compensation Range

Pay Range - Start:
$60,880.00

Pay Range - End:
$91,320.00

Geographic Specific Pay Structure

• Structure 110: $66,960.00 USD - $100,440.00 USD
• Structure 115: $70,000.00 USD - $105,000.00 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, learn more.

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.