Financial Analyst, Sr.

1 month ago

Atlanta, United States City of Atlanta Full time
JOB DESCRIPTION

The Financial Investment Analyst, Senior works under the guidance of the General Accounting Director and is responsible for assisting in establishing appropriate policies and procedures for the ongoing monitoring, valuation and accounting for the City of Atlanta's Defined Benefit and Defined Contribution Plans as well as maintain the proper accounting for the City's Centralized investments and valuation. The Analyst will work closely with Investment Custodians and Investment Fund Managers. Other primary responsibilities include but are not limited to: liaison with City of Atlanta's Treasury Office, act as a go-to expert on Alternative Investments on a day to day basis and during the audit, update various financial models and prepare comprehensive due diligence reports and benchmark analysis.

Specific responsibilities include:

Investment Monitoring

The Investment Analyst will develop, organize and maintain appropriate documentation for the ongoing monitoring of the City's investments and alternative investments. Investment monitoring will be performed in concert with the Fund Managers and other external consultants. Specific responsibilities include, but not be limited to:

  • Develop appropriate monitoring practices and documentation to evidence the ongoing understanding of the alternative investment funds' operations.
  • Perform benchmark analysis periodically/Quarterly to gauge the performance of the Plan's alternative investment portfolio against the market indices.
  • Obtain and review alternative investment funds' SOC 1 reports if available and ensure that identified user controls are in place.
  • Obtain and review year-end audited financial statements of the underlying investee funds with the ability to gain comfort on the fair values of their alternative investments.
  • Track capital committed, unfunded capital commitments and money weighted returns throughout the year for investments.
  • Review the fund manager's audited financial statements in detail, noting whether the opinion is qualified, any change in the auditor, or change in valuation procedures.
  • Develop an understanding of each alternative investment agreement for ongoing operational monitoring.
  • In coordination with the Investment staff and consultants, develop an understanding of all fund operational and capital activities and compare to agreements for appropriateness.
  • Other duties as assigned.
    Investment Valuation
The valuation of Alternative Investments is relatively complex due to the lack of readily determinable market values. The Investment Analyst responsibilities would include but not be limited to:

• Obtain and review the funds valuation policy, verify that all underlying investments are covered by the policy and annually monitor and document any changes to the policy.

• Develop an understanding of the underlying investments held by the funds and the processes used for valuation.

• Periodic review of valuations for compliance to the funds' valuation policy and overall reasonableness.

• Track the quarterly valuations of the holdings of the private equity and private real estate investments and investigate significant fluctuations.
  • Prepare appropriate internal documentation to evidence the valuation review and any findings or adjustments.
• Assist with year-end valuation analysis to support values reported in the City's annual audited financial statements.

Accounting

  • Coordinate and manage quarterly Defined Contribution Pension Committee Meeting (DCPMC)
  • Assist with monthly reconciliations of the City's investments to trial balance.
  • Investigate discrepancies in recording of Traded Securities.
  • Reconcile investment balances reported by investment fund managers to the City's internal records.
  • Independently calculate fund performance and reconcile to the results presented by the fund and consultants.
  • Develop written procedures for the accounting for investment pools established by the City.
  • Prepare and process GASB reclassification of investments monthly close entries.
  • Ensure all City's Pooled Investments Securities are reconciled monthly between the External Investment Reporting System and Institutional Safekeeping Banks.
  • Analyze and prepare monthly adjustments to record Amortization of Premium/Discounts, Accrued/Purchased Interest and Realized/Unrealized Gains/Losses.
  • Perform monthly trial balance analysis of changes in investment earning to ensure alignment with market activity.
  • Ensure the financial records accurately reflect asset classification per the City's Investment Policy.
  • Perform quarterly and yearend audit PBC schedules assigned.
  • Assist in preparation of financial statements/annual reporting.
  • Other accounting functions as assigned by Management.
APPROPRIATE KNOWLEDGE, SKILLS, AND ABILITIES

  • Strong understanding of accounting theory and application of general accepted accounting principles and practices.
  • Ability to analyze complex alternative investment agreements.
  • Understands confidentiality and agrees to maintain 100% confidentiality
  • Ability to use computer programs including Word, Excel, PowerPoint, Visio and Access.
  • Ability and willingness to quickly learn new software and automated systems
  • Strong project management skills and the ability to manage multiple projects
  • Strong knowledge and experience working with the trial balance on both a modified and full accrual basis.
  • Prior experience in valuation of complex underlying alternative investments or financing arrangements preferred.
  • Display a high level of initiative and work with minimal supervision
  • Work well in team situations to promote trust, cooperation, commitment and team spirit
  • Willingness to work outside the normal schedule when necessary to meet deadlines
  • Ability and desire to act in a highly ethical manner always


QUALIFICATIONS

EDUCATION, EXPERIENCE, AND OTHER REQUIREMENTS

  • Bachelor's degree is required from an accredited college or university majoring in accounting or finance.
  • Working knowledge of accounting for Stocks, Bonds and Treasuries.
  • Knowledgeable about the alternative investment industry.
  • Minimum of three years prior experience in alternative investments. CAIA (Chartered Alternative Investment Analyst) Certification is a big plus.
  • Knowledge of accounting principles and journal entry preparation a plus.
  • Must be able to demonstrate knowledge of computer applications including Microsoft Office products

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