Institutional Fund Accounting, Accountant

As a Northern Trust employee, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Career growth and movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve. Our talented, driven and energetic people are truly changing the face of Northern Trust. The speed with which we work, the influence of each partner and the focus to positively change the client and employee experience is our common passion. People are our greatest asset, so if you have a genuine desire to work in a fast-paced, inclusive environment which requires teamwork, well-honed problem-solving skills, deadline management, ongoing and comprehensive communication, constant attention to detail, and a commitment to continuous improvement then seek no more!

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 on an Annual Statements for the clients and auditors.

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 for senior level relationship. In addition, the candidate will complete monthly and annual reporting for the clients and assist junior level associates.

Knowledge/Skills

This is a second level position in department with great career path opportunities within Northern Trust which lead candidate to technical or management career path. 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 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.
• 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.
• Assist in training and/or mentoring the newer associates
• Play a role in plan changes or transitions for assigned clients.
• Ability to be part of division wide initiatives
  

Bachelor’s degree in Business/Finance/Accounting preferred in addition to 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.

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Global Fund Services:

Global Fund Services (GFS) is a full-service provider of fund solutions to investment manager and fund company clients around the world.  North America GFS Operations provides Fund Accounting and Administration, Custody Servicing, Investment Outsourcing Operations, Transfer Agency, and Investor Servicing.  Our expert team of 900 partners across North America are solutions-oriented, innovative, and passionate about servicing clients and helping them execute their business strategies.  We commit ourselves to ensuring our partners reach their full potential.

Working with Us:

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!

We recognize the value of inclusion and diversity in culture, in thought, and inexperience, which is why we are honored to receive the following awards in 2021:

• Gender Equality Index Member, Bloomberg
• Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine

We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.

For further information, and to apply, please visit our website via the “Apply” button below.