Entry Level Analyst – Fund Accounting

Job Description

Analyst, Institutional Fund Accounting | Northern Trust

The Tone:
This is an entry-level, full-time role at Northern Trust. As a global leader in wealth management, asset servicing, asset management, and banking services, Northern Trust guides the world’s most successful individuals, families, corporations, and institutions. With over 24,000 partners and more than 135 years of financial experience, the company operates on enduring principles of Service, Expertise, and Integrity. This position is vital for accurately determining the Net Asset Value (NAV) of institutional funds, ensuring financial integrity and timely reporting for large asset owners like Defined Contribution and Defined Benefit ERISA plans. The analyst directly contributes to the core function of safeguarding client investments and upholding Northern Trust’s commitment to exceptional service and financial precision.

The TL;DR
• Role: Early Career
• Type: Full-time
• Pay: $43200–$64800 yearly
• Team: Under direct supervision of supervisors/experts
• Mission: Evaluate, analyze, and reconcile institutional funds to determine their daily Net Asset Value (NAV) and produce client reports.
• Tech Stack: Excel, Microsoft Power suites

What You’ll Actually Do
• Daily NAV Calculation: Determine the Net Asset Value (NAV) on a daily basis for institutional defined contribution (401k) and defined benefit (Pension) ERISA plans.
• Fund Reconciliation & Valuation: Evaluate and reconcile various fund types, including mutual, separately managed, commingled, and collective funds, performing daily valuation and comparison against benchmarks.
• Portfolio Impact Analysis: Assess the impact of investment manager trading activity on investment portfolio returns and option market values, and audit income postings, accruals, and corporate actions within scheduled timeframes.
• Exception Management: Perform exception resolutions for variances in cash, holdings reports, prices, expenses, and expense accruals, as well as other activity in investment accounts.
• Reporting & Client Support: Assist in the timely preparation of monthly and annual financial statements according to GAAP, provide annual client portfolio and 5500 reporting, and record and respond to partner and client inquiries related to account exceptions.

The Must-Haves
• Background: Entry-Level. Candidates should possess basic knowledge of accounting, finance, and securities, typically acquired through business-related coursework or relevant prior experience. A Bachelor’s degree in Business is preferred, or equivalent work experience in Fund Accounting or Mutual Fund Accounting.
• Experience: This role seeks candidates with foundational understanding rather than specific years of experience, valuing prior exposure to fund accounting concepts.
• Skills: Demonstrated analytical and organizational abilities are essential for researching and resolving inquiries within strict deadlines. The ability to manage multiple tasks with keen attention to detail is critical for accurately valuing funds. Candidates must be able to absorb new information quickly, work efficiently, and consistently meet deadlines while maintaining high accuracy.
• Bonus: Proficiency in Excel and familiarity with Microsoft Power suites are considered beneficial for this position.