Entry-Level Fund Accountant

Job Description

Associate Accountant, Fund Accounting | Northern Trust

The Tone:
This is an entry-level role at Northern Trust, located in the US. Northern Trust is a global leader in wealth management, asset servicing, asset management, and banking services, guiding successful individuals, families, corporations, and institutions since 1889. This role is crucial for building a strong foundation in investment operations and financial reporting, contributing to the firm’s long history of financial strength and stability by ensuring accurate and timely financial records for investment funds.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: US-based
• Pay: $43200–$64800 yearly
• Team: Fund Accounting team
• Mission: To prepare and maintain accurate fund accounting records and support financial reporting for investment funds.
• Tech Stack: Microsoft Excel

What You’ll Actually Do
• Record Keeping: Prepare and maintain daily, weekly, and monthly fund accounting records.
• NAV Calculation: Assist in the calculation and verification of Net Asset Values (NAVs) for investment funds.
• Account Reconciliation: Reconcile cash, securities, and other balance sheet accounts.
• Discrepancy Resolution: Monitor and resolve accounting breaks and reconciliation discrepancies.
• Transaction Processing: Process and review investment transactions, including purchases, sales, income, and corporate actions.

The Must-Haves
• Background: Bachelor’s degree in Accounting, Finance, Business, or a related field, suitable for an Entry-Level professional interested in accounting, finance, and investment funds.
• Experience: No specific years required; prior internship or accounting/finance experience is a plus.
• Skills: Strong analytical and problem-solving skills, high attention to detail and accuracy, proficiency in Microsoft Excel, and strong communication and teamwork skills.
• Bonus: Knowledge of mutual funds, hedge funds, private equity funds, or other investment vehicles; ability to work well both independently and as a team; effective written and verbal communication skills; and adaptability in a deadline-driven environment.