Job Role Description

Payroll > Mutual Fund Accountant

Salary National Average

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50450.0000 60470.0000 77250.0000

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Short Description:

 

A Mutual Fund Accountant is responsible for managing and maintaining the financial records of mutual funds. Their duties include reconciling daily transactions, calculating net asset values (NAVs), and preparing financial statements in compliance with regulatory standards. Mutual Fund Accountants often collaborate with investment managers, auditors, and regulatory bodies to ensure accurate reporting and adherence to industry guidelines. Strong analytical skills, attention to detail, and knowledge of financial instruments and accounting principles are essential for success in this role, as Mutual Fund Accountants play a crucial role in the accurate valuation and financial reporting of mutual funds.

Duties / Responsibilities:

  • Implement fund structures in an accounting system.
  • Assist in the design and implementation of internal audit practices and procedures.
  • Coordinate with fund administrator for accounting and reporting matters.
  • Review and coordinate the fund expense analysis and expense processing.
  • Assist in the development of policies and procedures for work performed.
  • Prepare reports to internal and external customers, including maintenance of supporting documentation.
  • Analyze fund performance on a daily and monthly basis.
  • Oversee, as a resource, acquisitions of new business and portfolio management.
  • Generate quarterly financial statements, accompanying notes, and supporting schedules.
  • Daily/Monthly/Quarterly reconciliation of investment positions and fair market values.
  • Provide fund advisors with forecasted available cash for funds every morning quickly and accurately.
  • Prepare allocations of capital calls and distributions and set up notices accordingly.
  • Assist other departments with the acquisition and disposition of real estate properties.

Skills / Requirements / Qualifications

  • Education: Bachelor's Degree in accounting or business, or GED/high school diploma and equivalent experience.
  • Software skillset: Experience with C#, Internal Rate of Return (IRR), and System on a Chip (SoC) software and systems.
  • Private Equity Experience: Experience with annual reporting (audited financial statements) and familiarity with private real estate reporting models (operating/non-operating). 
  • Compliance: Fluent in U.S. GAAP updates and requirements.
  • Team Work: Experience with reviewing fund accounting work for team members.
  • Miscellaneous: Experience with fund-level accounting and reporting, including complex fund structures and consolidations, waterfall, performance metrics (IRRs), distributions, and capital calls calculations. Experience scoping out system requirements and implementing new systems. Experience with legal documentation and enterprise resource planning.

Job Zones

  • Title: Job Zone Four: Considerable Preparation Needed
  • Education: Most of these occupations require a four-year bachelor's degree, but some do not. 
  • Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. 
  • Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  • Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others. 
  • Specific Vocational Preparation in years: 2-4 years preparation (7.0 to < 8.0)

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