Portfolio Accounting Associate

Job Description

Job Description

Client X is seeking an exceptional candidate to join its Portfolio Services team as a Portfolio Reconciliation/Accounting Associate in the Portfolio Operations Department. Reporting to the Head of Investment Accounting/Reconciliation, this person will be responsible for resolving cash and position reconciliation exceptions; analyzing security level accounting information for client portfolios, including data attributes and metrics used to calculate performance returns and invoice amounts; and the maintenance of GAAP and Statutory balance sheet values used in the portfolio management decision-making process.

The ideal candidate will be organized, detail-oriented, innovative, manage time efficiently, and possess critical- and analytical-thinking skills. A key aspect of the role is collaborating and communicating with other groups within Portfolio Operations, portfolio management teams, and custodial bank representatives.

This position is located in Chicago.

• Responsible for reviewing that all portfolio level transactional activity is being properly recorded and performing daily reviews on system-to-system feeds of transactional activity.
• Work with internal and external parties in order to resolve breaks, identify root causes and expedite resolution.
• Monitor formal processes in order to ensure reconciliation processes meet standards established by internal and external auditors including SAS 70 procedures.
• Analytically review daily transactional activity to ensure that the market values of portfolios are accurately recorded by the accounting system to ensure accurate performance information for both client and internal reporting.
• Work with Client Service Support team to ensure that portfolio and security level accounting characteristics are correct at the point of initial account set-up.
• Assess income recognition on complex fixed income instruments and identify/resolve issues with system generated accruals.
• Analyze fund/account data to identify potential problems and develop appropriate solutions and recommendations.
• Evaluate efficiency and effectiveness of current processes and controls to make recommendations for continuous process improvement and support implementation. This will involve a high degree of working with other departments (Trade Operations, Data Integrity, Pricing, Reconciliation, and Performance) in identification and remediation of process issues.
• Maintain, review and analyze GAAP and Statutory accounting information for fixed income, equity, and derivative positions and transactions for all applicable client portfolios in an accurate and timely manner.
• Assist in the development and documentation of policies and procedures for work performed.
• Actively participate and contribute to both firm wide and department initiatives.
• Assist with internal/external ad hoc requests, special projects, and other duties as assigned.

• Experience with PAM for Investments or a similar investment accounting system.
• Experience with BlackRock Solutions and/or Wall Street Office or a similar investment book of records system.
• A background in GAAP and/or Statutory accounting for insurance company investments a plus.
• Sound working knowledge of fixed income and equity securities and an understanding of derivative accounting including interest rate derivatives, equity derivatives and credit derivatives.
• Team-oriented individual with ability to collaborate with a diverse range of groups.
• Ability to multitask and meet tight deadlines in a fast-paced environment, while maintaining accuracy and quality of work.
• An eye for detail and an analytical mindset.
• Problem solving skills and demonstrated ability to take initiative and critically analyze processes and procedures with the intention of constant improvement.

• Bachelor’s degree with at least 1-5 years of experience in financial services industry, specifically back office operations and/or fund accounting.
• Excellent data skills (Excel, VBA, Access, etc.) and system experience.
• Familiarity or prior experience with any of the following:
  • Fixed Income, Bank Loans, Derivates, Bonds
  • Fund Accounting experience
  • Global Custodian Processes