Northern Trust
Associate Accountant, Fund Accounting, UVRS (Finance)
The Unitized Valuation and Reporting Services (UVRS) division determines Net Asset Values (NAV) for Defined Contribution plans such as 401(k) plans and Defined Benefit plans on a daily basis. The group falls under Global Fund Accounting Practice and serves large corporate relationships with portfolios containing equities, mutual funds, derivatives and fixed income securities. In addition the group delivers Monthly and Annual Statements for the clients and auditors.
The ideal candidate will go through training. After training, the role will including resolving reconciliations items, completing reasonability audits on trades and pricing, and completing a daily NAVs that are delivered to 3rd party recordkeepers. In addition, the candidate will complete monthly and annual reporting for the clients delivered timely.
Knowledge/Skills
This is an entry-level position with great career path opportunities within the department and at Northern Trust. Candidate should be willing to learn and adapt to change, have the ability to work in a team environment, and have a basic conceptual understanding of the financial markets. Analytical skills and Organizational skills are required to research and resolve inquiries. Attention to detail and multiple tasking skills are required to value the funds in a timely and accurate manner. Ability to work in a fast paced environment to meet deadlines while maintaining accuracy for the clients.
Major Duties
Work as part of a team to meet client deadlines and expectations by auditing and providing the daily Net Asset Value, monthly and annual client portfolio reporting, and annual 5500s / GASB reporting.
•Determine Net Asset Value (NAVs) for defined contribution or defined benefit plans on a daily basis.
•Evaluate and reconcile funds including mutual, benchmark, commingled, and collective for production of client month-end reports 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 portfolio statements in accordance with generally accepted accounting principles and performance standards.
•Record and respond to partner and client inquiries resolving exceptions related to accounts.
Experience
Bachelor's degree in Business/Finance/Accounting preferred or relevant work experience in Institutional Fund Accounting or Mutual Fund Accounting.
Microsoft 365 application including Excel, Powerbi and / or knowledge of FIS Accounting platforms a plus.
Work Schedule: Monday- Friday: 10:30CT -7PMCT with slight changes depending on time-zone.