Entry Level Analyst – Fund Accounting & NAV

Job Description

Analyst, Institutional Fund Accounting | Northern Trust

The Tone:
This is a full-time role at Northern Trust, located in the U.S. Northern Trust is a global leader with over 135 years of financial experience, guiding successful individuals, families, corporations, and institutions through innovative wealth management, asset servicing, asset management, and banking services. This entry-level analyst position is critical for accurately evaluating, analyzing, and reconciling mutual and separately managed funds to determine their Net Asset Value (NAV) daily, directly supporting large Defined Contribution and Defined Benefit ERISA plans.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: U.S.
• Pay: $41040–$61560 yearly
• Team: Part of an accounting team, reporting to a supervisor
• Mission: Determine the Net Asset Value (NAV) for institutional funds on a daily basis and produce accurate client month-end reports.
• Tech Stack: Excel, Microsoft Power suites

What You’ll Actually Do
• Daily Valuation: Determine the Net Asset Value (NAV) for defined contribution and defined benefit plans on a daily basis.
• Fund Reconciliation: Evaluate and reconcile various fund types, including mutual, separately managed, commingled, and collective funds, often compared against a benchmark, for daily valuation.
• Portfolio Analysis: Analyze the impact of investment manager trading activity on investment portfolio returns and option market values, and audit income postings, accruals, and corporate actions.
• Exception Resolution: Audit and resolve exceptions related to cash, holdings reports, price variances, expenses, expense accruals, and all investment account activity within scheduled timeframes.
• Reporting & Inquiries: Assist in the timely preparation of monthly and annual reports and financial statements, provide annual client portfolio and 5500 reporting, and respond to partner and client inquiries resolving account-related exceptions.

The Must-Haves
• Background: Entry-Level; Basic knowledge of accounting, finance, and securities, typically obtained through business-related coursework.
• Experience: Relevant work experience in Fund Accounting or Mutual Fund Accounting is preferred, alongside a Bachelor’s degree in Business or equivalent work experience.
• Skills: Analytical skills, organizational skills, attention to detail, multitasking skills, ability to absorb information quickly, and a capacity to meet deadlines while maintaining accuracy.
• Bonus: Strong Excel skills and usage of Microsoft Power suites.