Mutual Fund Accountant Job Description
Mutual fund accountant
provides daily general ledger accounting, ensuring compliance with SEC regulations and generally accepted accounting principles.
Mutual Fund Accountant Duties & Responsibilities
To write an effective mutual fund accountant job description, begin by listing detailed duties, responsibilities and expectations. We have included mutual fund accountant job description templates that you can modify and use.
Sample responsibilities for this position include:
Ensure all accounting activity and detail is accurate for Mutual Fund Accounting Reporting and Tax units
Ensure all accounting activity and details are accurately captured for the Mutual Fund Accounting Reporting and Tax units
Applies generally accepted accounting principles (GAAP) to prepare income and balance sheet statements and various other accounting statements and reports
Maintain relationships with internal and external partners including Financial Reporting, Fund Accounting, Legal, Transfer Agent and vendors
Prepare, record, and analyze accounting activity for multiple investment portfolios
Assist in helping to improve, document and maintain adequate and effective processes to improve the close and reporting cycles the SOX Control procedures
Provide internal reporting and support for the Investment Division, Marketing Division, Legal
Apply knowledge of accounting principles and practices
Work both independently and with peers, performing a wide range of detailed accounting functions
Prepares journal entries, performs reconciliations, and performs account analysis
Mutual Fund Accountant Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Mutual Fund Accountant
Typically a job would require a certain level of education.
Employers hiring for the mutual fund accountant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Accounting, Finance, Economics, Business, Business/Administration, Education, Religion, Guidance, Trades, Performance
Skills for Mutual Fund Accountant
Desired skills for mutual fund accountant include:
Accounting
Analysis
Reporting
GAAP and other regulations
Microsoft Excel and Microsoft Accessstrongly
SAP General Ledger Systemstrongly
Eagle applications nice to have
Microsoft Office
Accounting principles
Investment Company Act of 1940
Desired experience for mutual fund accountant includes:
Monitor funds daily to ensure that cash, security, and unit positions are reflected correctly
Proficiency in Microsoft Excel and Word and Windows NT
As a key member of this team, you will monitor funds on a daily basis to ensure that cash, security and unit positions are reflected correctly
Using your high degree of accuracy you will ensure that transactions are entered into the system on a timely basis
You will also be responsible for reviewing and preparing monthly and quarterly reports as required
Finally, you will assist in preparing semi-annual and annual Financial Statements for Internal team members
Mutual Fund Accountant Examples
1
Mutual Fund Accountant Job Description
Job Description Example
Our innovative and growing company is hiring for a mutual fund accountant. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for mutual fund accountant
- Work both independently and with peers, performing a host of detailed accounting functions
- Oversight of the tax provision calculations and related disclosures in the financial statements, including ASC 740 analysis
- Provide analysis of tax implications related to any new products or investments
- Oversight of complex security analysis, including the review of new security prospectuses and term sheets
- Maintain tax department technical analysis memos and make decisions/recommendations related to tax positions taken by the funds
- Responsibility for and oversight of filing monthly, quarterly and annual shareholder tax reporting forms for both federal and state requirements
- Preparing and reconciling a variety of reports supporting the various accounting input and output of data
- Prepare timely and accurate Net Asset values, mill rate distributions and other fund accounting output for review
- Identify exceptions and problems affecting accounting records and prices
- Responds to inquiries regarding accounting audits, internal and external
Qualifications for mutual fund accountant
- Detail-oriented, organized, and excellent documentation skills a must
- Must be detail oriented with strong analytical, time management and organizational skills
- High degree of PC proficiency with experience using spreadsheet software
- Ability to work independently, prioritize work, manage time and meet deadlines
- Proactive self-starter with commitment to error free work
- Assist in the execution of the financial close process by preparing the financial statements, schedule of investments, manager’s discussion of fund performance of the annual and semi-annual shareholder reports
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Mutual Fund Accountant Job Description
Job Description Example
Our growing company is looking for a mutual fund accountant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for mutual fund accountant
- Identify and research reporting issues arising from application of accounting principles and standards and rules and regulations of the SEC and other regulators and assess their applicability
- Maintains adequate accounting and control for various accounting functions
- Responsible for performing routine to moderately complex accounting activities relating to the maintenance of a complete and accurate general ledger, preparation of daily work packets and calculation of daily NAV
- Prepare and review fund expenses, including allocation, review and analysis
- Identify exceptions and problems affecting accounting records and prices, communicating same to management, and assisting in their resolution
- Independently resolve and coordinate resolution of the problems within the budgeting and financial reporting process
- Audit, resolve, and approve net asset value/unit value calculations of funds daily to ensure no discrepancies remain undiscovered that would result in reporting an incorrect net asset value
- Assures fund administration compliance with the Investment Company Act of 1940 the Securities Acts of 1933 and 1934
- Responds to inquiries regarding accounting policies, procedures, and issues from management, external auditors, and regulatory authorities
- Assist in preparing reports for the Mutual Fund/Series Funds Board of Trustees/Directors
Qualifications for mutual fund accountant
- Proficiency in Microsoft Excel highly desirable
- Custodian
- Transfer Agents
- Sub-advisors
- Analyzing and reconciling financial data to generate Semi-Annual and Annual Reports and assisting in
- Previous experience supporting mutual funds
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Mutual Fund Accountant Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of mutual fund accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for mutual fund accountant
- Audits various records to verify accuracy
- Partner with custodian to ensure that funds are receiving all entitled income and principal payments
- Assist in executing the financial close process by preparing the financial documents, schedule of investments, manager’s discussion of fund performance of the annual and semi-annual shareholder reports
- Build and analyze reports for the Mutual Fund/Series Funds Board of Trustees/Directors
- Responsibility for and oversight of all processes related to mutual fund tax such as tax provisions, distributions, income and excise tax returns, excise distributions calculations
- Responsibility for RIC qualification testing for quarterly and annual requirements
- Oversight of foreign tax requirements related to security holdings, including monitoring withholding and treaty rates, opening accounts in new markets, reclaim payments, and payment of capital gain tax
- Responsible for all daily, monthly, quarterly and annual income and capital gains distributions
- Oversight of calendar year end 1099 process and related disclosures
- Maintain a current understanding of tax requirements related to mutual funds and related investments and tax structures
Qualifications for mutual fund accountant
- A minimum of one year related work experience required
- In this role you must have solid problem solving, leadership, and analytical skills
- Ability to multi-task and handle tight deadlines in a team environment
- You have the ability to work in the United States for an indefinite period without sponsorship
- You will have the ability to work full time in the summer
- You have an excellent academic track record (GPA 3.0+)
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Mutual Fund Accountant Job Description
Job Description Example
Our company is growing rapidly and is hiring for a mutual fund accountant. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for mutual fund accountant
- Review tax related sections of prospectus and SAI, work with internal and external legal groups as needed
- Oversee periodic updates of procedures and internal control processes
- Prepare tax related communications for the Board of Directors
- Records accurately, and in accordance with Department policies and procedures general ledger balances such as cash, income, capital, advisor trades, corporate action postings
- Auditors (Book and Tax)
- Review of annual and semi-annual reports
- Review of information for various regulatory filings, including registration statements, forms N-CSR, N-PORT
- Review and help coordinate deliverables for fund audits and respond to auditors during examinations
- Help prepare reports to the Funds' Board of Directors and Senior Management
- Reconcile various accounts, or reviewing reconciliations prepared by others, and promptly research and correct any variances
Qualifications for mutual fund accountant
- Ability to work full time in the summer
- Minimum 6 years of experience with ‘40Act/mutual fund/regulated investment company tax required
- Experience with complex tax adjustments such as those for derivatives, partnerships, and foreign blocker entities required
- Experience determining taxable income and distribution amounts required
- Experience establishing and maintaining an internal control environment required
- Bachelor’s degree in accounting or Finance and has zero to two years related experience, preferred
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Mutual Fund Accountant Job Description
Job Description Example
Our growing company is looking to fill the role of mutual fund accountant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for mutual fund accountant
- Participating and coordinating client/process/solution onboarding on the team level
- Identifying inefficiencies, risks and control gaps in the process and help develop and implement changes to eliminate them
- Conduct quality control over reports and NAV generated by outsourced service providers
- Review invoices and ensure accurate processing in the funds
- Preparing cash activity and projections for the portfolio managers, researching and verifying corporate behaviors, verifying daily interest, dividend and expense accruals, and posting security trade and shareholder activity
- Prepare monthly reconciliation work papers and ad hoc reports
- Assists with the coordination, preparation, validation and review of the SEC financial data filings to ensure they are filed timely and accurately
- Prepares financial statements and reports
- Prepares and develops reports for management and/or for regulatory authorities
- Prepare the tax provision for annual reports including supporting schedules
Qualifications for mutual fund accountant
- One to two years of experience in accounting or finance activities
- Proficient computer navigation skills using a variety of software packages including Microsoft Office applications
- Experience or understanding of investment concepts strongly preferred
- Determine daily fund values, including verification of pricing within required time frame
- Complete periodic and monthly reconciliations on a timely basis
- Distribute fund data to internal and external stakeholder