Entry Level Analyst – Fund Accounting

Job Description

Analyst, Fund Accounting | Northern Trust

The Tone:
This is an entry-level analyst position at Northern Trust, a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust provides innovative financial services and guidance to successful individuals, families, and institutions by upholding enduring principles of service, expertise, and integrity. This role is crucial for evaluating, analyzing, and reconciling mutual funds and separately managed funds to accurately determine the Net Asset Value (NAV) on a daily basis and produce client month-end reports for large asset owner plans.

The TL;DR
• Role: Early Career
• Type: Full-time
• Pay: $41040–$61560 yearly
• Mission: This person determines the daily Net Asset Value (NAV) for various funds and supports accurate client financial reporting for large asset owner plans.
• Tech Stack: Excel, Microsoft Power suites

What You’ll Actually Do
• NAV Determination: Calculate the daily Net Asset Value (NAV) for defined contribution and defined benefit plans.
• Fund Reconciliation: Evaluate and reconcile various fund types, including mutual, separately managed, commingled, and collective funds, for daily valuation.
• Portfolio Analysis: Assess the impact of investment manager trading activity, income postings, accruals, and corporate actions on investment portfolio returns and option market values.
• Exception Resolution: Audit and resolve discrepancies in cash, holdings reports, price variances, expenses, and investment account activity within scheduled timeframes.
• Financial Reporting Support: Assist with the timely preparation of monthly and annual reports and financial statements in accordance with generally accepted accounting principles.

The Must-Haves
• Background: A bachelor’s degree in Business is preferred, or relevant work experience in Fund Accounting or Mutual Fund Accounting, providing basic knowledge of accounting, finance, and securities.
• Experience: This is an entry-level analyst position; prior related experience in fund accounting or mutual fund accounting is beneficial.
• Skills: Analytical skills, organizational skills, attention to detail, multi-tasking skills, and the ability to absorb information quickly and meet deadlines while maintaining accuracy.
• Bonus: Proficiency in Excel and Microsoft Power suites.