Entry-Level Fund Accountant

Job Description

Associate Accountant, Fund Accounting | Northern Trust

The Tone:
This is a full-time role at Northern Trust, a US-based opportunity. Northern Trust is a global leader in innovative wealth management, asset servicing, asset management, and banking services, guiding the world’s most successful individuals, families, corporations, and institutions. With over 135 years of financial experience and 24,000 partners, the company aligns its efforts with three guiding Principles That Endure: Service, Expertise, and Integrity. This entry-level position is crucial for recent graduates or early-career professionals to build a strong foundation in investment operations and financial reporting within the company’s Fund Accounting team, directly contributing to the accurate and compliant management of investment funds.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: US-based
• Pay: $43200–$64800 yearly
• Team: Fund Accounting team
• Mission: Build a strong foundation in investment operations and financial reporting by accurately managing fund accounting records and Net Asset Values.
• Tech Stack: Microsoft Excel

What You’ll Actually Do
• Account Maintenance: Prepare and maintain daily, weekly, and monthly fund accounting records.
• Valuation Support: Assist in calculating and verifying Net Asset Values (NAVs) for investment funds.
• Financial Control: Reconcile cash, securities, and other balance sheet accounts to ensure accuracy.
• Issue Resolution: Monitor and resolve accounting breaks and reconciliation discrepancies promptly.
• 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; Entry-Level career.
• Experience: Prior internship or accounting/finance experience is a plus, offering valuable initial exposure to financial operations and reporting.
• Skills: Proficiency in Microsoft Excel; strong analytical and problem-solving capabilities; high attention to detail and accuracy required for financial record-keeping.
• Bonus: Knowledge of mutual funds, hedge funds, private equity funds, or other investment vehicles; ability to work effectively both independently and as part of a team; strong written and verbal communication skills; and adaptability in a fast-paced, deadline-driven work environment.