Fund Accounting Specialist

6 days ago

Chicago, Illinois, United States Northern Trust Full time

About Northern Trust:

Northern Trust, a leading global financial institution, has been in continuous operation since 1889. As a renowned provider of innovative financial services, we are committed to delivering exceptional expertise and integrity to our clients.

We offer a balanced hybrid working model to ensure our employees have the flexibility they need. The successful candidate will spend their time between working in the office and working from home.
Global Fund Services:

Our Global Fund Services (GFS) team provides comprehensive fund solutions to investment manager and fund company clients worldwide. We offer a range of services, including Fund Accounting and Administration, Custody Servicing, Investment Outsourcing Operations, Transfer Agency, and Investor Servicing. Our team of experts is dedicated to delivering solutions-oriented, innovative, and client-centric services.
Job Summary:

This is an entry-level position with great career path opportunities. As an Associate Accountant, you will participate in Northern Trust's training program and be responsible for the daily valuation of assigned clients. You will work in a team environment, building on your accounting skills and learning from experienced professionals. The ideal candidate should be willing to learn and adapt to change, have strong analytical and organizational skills, and be able to work in a team environment.
Key Responsibilities:

• Determine Net Asset Value (NAV) for defined contribution 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 reports and financial statements in accordance with generally accepted accounting principles and performance standards.
• Record and respond to partner and client inquiries, resolving exceptions related to accounts.
• Value funds on a daily, weekly, or monthly basis.
• Provide client portfolio and reporting.
• Serve as a resource to clients, partners, and members of the team for clarity, understanding, and information regarding your relationships.
• Utilize knowledge of client needs and business operations to assist with special requests of clients or other partner areas.
• Be part of all transitions, conversions, and plan changes for each of your clients.
• Assist Technical Coordinator in the nightly NAV review process.
Qualifications:

• Bachelor's degree in Accounting and Finance preferred or relevant work experience in Fund Accounting or Mutual Fund Accounting. New grads with a Business degree may be considered.
• Strong Excel skills and usage of a Macro/Access is a plus.
• Experience in Sun-Guard Systems (Invest-One) is a plus.
Working with Us:

As a Northern Trust partner, you will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve.
We value an inclusive workplace and understand flexibility means different things to different people. Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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