Investment Accounting Analyst

3 weeks ago

Philadelphia, United States American Bible Society Full time
Job DescriptionJob Description

Job Purpose/Position Objective

The Investment Accounting Analyst will provide timely and accurate roll forward and investment accounting for all the Society’s investment assets in accordance with US GAAP Accounting Standards. You will also be responsible for the flow and organization of investment transactions and data management respectively. This role requires effective communication with investment managers, fund administrators and asset servicing professionals, as well as deliverables to the CFO, the Investment Committee, and external auditors. To be successful in this role, you must be vested in your professional development and motivated to network/navigate the ecosystem of investment professionals and infrastructure.

Essential Functions

Roll forward and Annual Audit Deliverables

  • Provide a detailed investment roll forward schedule in connection with the annual audit. Indicate the changes in investment transactions, accounting for purchases, sales, realized gain/loss, unrealized gain/loss, transfers, and adjustments.
  • Provide a detailed investment roll forward schedule in connection with the annual audit for CRATs, CRUTs and Annuities Indicate the changes in investment transactions, accounting for purchases, sales, realized gain/loss, unrealized gain/loss, transfers, and adjustments.
  • Maintain supporting schedules for investment asset classes with breakdown by ASC 820 levels.
  • Maintain supporting schedules for unfunded Capital Commitments in Limited Partnerships.
  • Assist management with the NAV preparation and annual investment footnotes.
  • Provide an accurate Defined Contribution (DC) Fund Allocation schedule for audit review.

Investment Accounting/Transactions

  • Provide timely and accurate monthly investment accounting close in accordance with US GAAP.
  • Compare month-end values of custody bank audited financial reports with those of portfolio managers and prepare any cash/asset reconciliation required to tally with the Society’s general ledger records.
  • Analyze and post changes in Net Assets and Fair Market Value for traditional and alternative investments.
  • Analyze and post changes in Total Gains and Losses, Income received and Accruals.
  • Perform monthly and quarterly allocation for Defined Contribution (DC) and Board Designated Funds and journalize accordingly.
  • Journalize quarterly spending withdrawals from the MEF and other cash inflows and outflows resulting from portfolio rebalancing in the reporting period.
  • Monitor daily activity in Private Equity accounts to ensure that capital calls, cash distribution, and stock distribution, as well as other partnership trades are settled or accounted for.
  • Verify all investment manager’s quarterly fees for market value basis and prepare payments for authorization. The same applies for investment managers who invoice us separately.
  • Enter cash and security instructions in custodian’s portal for approval and authorization.

Investment Communication

  • Daily, monitor and liaise with BNY Mellon concerning all problems that may arise regarding wire transfers, recording of assets and balances.
  • Provide timely responses to requests by the Sr. Manager or CFO for any information or reports.
  • Support the investment relationship with fund managers and banking professionals, the Finance and Accounting team, and other need-to-know parties including the CFO to ensure the timely and efficient completion of the investment accounting process.
  • Support the ongoing communication with the Custodian and Investment Consultant and assist with the meeting materials for the quarterly Investment Committee meetings.
  • Promptly identify and escalate risks or variances that would impact the investment accounting process.

Investment Data Management & Reports for CFO/Investment Committee

  • Create data management models for various investment tracking, such as unfunded commitments for Private Real Assets, Private Equity, and Venture Capital.
  • Download investment documents (monthly or more frequently) from various portals and file them in each manager’s folder.
  • Compile data for periodic reporting to the Investment Committee or the Board of Directors.
  • Assist with monthly, quarterly, and annual reports including Strategic Asset Allocation, Fund Status, and Investment Performance summary for Planned Giving as directed.
  • Resolve data exceptions among fund managers, custodian, and consultant monthly or escalate as needed.
  • Maintain information repository for all cash and security transactions, including interfund transfers.

Essential Traits & Skills: Minimum qualifications individual must possess

  • Passion for the Bible cause and its ability to impact lives.
  • Fervent belief in the mission of American Bible Society.
  • Demonstrate positivity and professionalism in individual or team assignments.
  • Be a critical thinker who employs curiosity and investigation in problem solving.
  • Knowledge and application of accounting concepts, techniques, and principles.
  • Skilled in analyzing and interpreting financial data; accurate in working with large amounts of data.
  • Advance proficiency in Excel or willingness to learn
  • Problem solving, research and attention to details; good verbal and written communications.
  • Excellent time management and organization skills.
  • Willing to pursue professional development and advance training /certification in CFI’s FMVA qualifications

Education and/or Training

  • Bachelor’s degree, preferably in Accounting, Business Administration, Economics, Finance, or other related fields.
  • 3+ years’ experience in the financial services industry.

Working Conditions: Office located in Old City Philadelphia. Minimal travel expected. Core Hours: 8:30 – 5:00

Hybrid Work Location—2 days in office (Mandatory Tuesdays and Wednesdays)

Special Requirement: Background checks are required after a conditional job offer is made. Consideration of the background check will be tailored to the requirements of the job.

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