Title:Portfolio Services Accounting AssociateAbout thePosition
Client Xis 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.
ResponsibilitiesInclude
- Responsible forreviewingthatall portfolio leveltransactional activityisbeingproperlyrecordedand performingdailyreviews 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 dailytransactional activityto ensure that the market values of portfolios are accurately recorded by the accounting systemto 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 toboth firm wide and department initiatives.
- Assist with internal/external ad hoc requests, special projects, and other duties as assigned.
Preferred Qualifications
- 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.
Basic Qualifications
- Bachelor’s degree with at least 1-5years ofexperience in financial services industry, specifically back office operations and/or fund accounting.
- Excellentdataskills (Excel, VBA, Access, etc.) andsystemexperience.
- Familiarity or prior experience with any of the following:
- Fixed Income, Bank Loans, Derivates, Bonds
- FundAccountingexperience
- Global Custodian Processes
