Northern Trust Associate Accountant - Fund Accounting (Recent Graduate) - 64653 in Chicago, Illinois

This job was posted by https://illinoisjoblink.illinois.gov : For more information, please see: https://illinoisjoblink.illinois.gov/ada/r/jobs/5286782 For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

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We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

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As of March 31, 2017, Northern Trust Corporation had:

•$121 billion in banking assets

•$7.1 trillion in assets under custody

•$8.9 trillion in assets under custody/administration

•$1.0 trillion in assets under management

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Northern Trust Fund Accounting provides valuation accounting and administration services to investment manager clients. The Fund Accounting department delivers net asset values and income details for various investment products. They also support fund administration and regulatory reporting services. Utilizing fund administration's global operating platform ensures that client reporting is driven from a single transaction source and enables delivery of a full suite of online tools including daily performance and compliance monitoring already available to sophisticated institutional investors.

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Major duties include:

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+ Calculate and deliver net asset values for various commingled fund products, including registered mutual funds, private equity, partnerships, hedge funds, fund of funds, and collective trusts.

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+ Provides performance data for individual manager portfolio through the processing and reconciliation of accounting on the appropriate system.

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+ Daily reviews diversified transactions, performing maintenance on assigned accounts according to procedures, including checking and correcting discrepancies, verifying outside funds, and reviewing transactions

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+ Audits investment reports, cash statements, and supplemental reporting to verify that data is correctly posted and transactions properly classified. Writes inquiries to resolve audit discrepancies

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+ Verifies report schedules, ensuring that reports sent to clients are accurate and mailed within scheduled timeframes.

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+ Run daily valuation audits and Deliver valuation reports to clients

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+ Investigate and resolve cash/position exceptions and tolerance breaches

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+ Understand and reconcile asset life cycle events between the accounting system and custodians

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+ Apply accounting and finance principals to numerous asset types.

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+ Demonstrate ability to work well in a team environment.

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+ First point of reference for day-to-day queries.


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nKnowledge/Skills

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+ Candidates should be analytically and technically sound with knowledge of financial markets and some knowledge of investment management operations.

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+ Knowledge of accounting and securities processing procedures, usually acquired through accounting/finance coursework or prior related experience, is required to review and audit reports.

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+ Analytical skills are required to research and resolve inquiries/data.

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+ Organizational skills are required to provide client reports within scheduled timeframes.

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+ Strong communication skills are required to facilitate the flow of information back and forth between clients, underlying investors, internal partners, and interested 3rd parties /li>n

+ Industry Knowledge is preferred

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+ Pro-active approach to accuracy and attention to detail

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+ Ability to work well under pressure and with tight deadlines

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+ Proficient user of Excel

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+ Knowledgeable with investment strategies and/or securities.

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+ Must understand accounting and financial principals for numerous asset classes


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