Job Detail

Fund Accounting Administrator

Fund Accounting Administrator
Primary Location
New York
Bachelor's Degree
Rate Type
Per year
Job Description

Our client is a bank based in New York city who are looking for a consultant who can help run the Fund Accounting department on an interim basis.

Purpose of Position

To administer and support various products such as collective and common investment funds and defined contribution plan recordkeeping and accounting by providing administrative, operational, accounting, and control functions in an accurate and timely manner on behalf of trust clients and the Amalgamated Bank.

Essential Job Functions

1. Confirm all securities transactions with clearing brokers, banks, agents, and investment advisors, as required.
2. Timely and accurately prepare, submit for approval, and process all necessary securities transactions and cash investments or divestments.
3. Verify realized and unrealized gains and losses (mark to market) on a daily basis.
4. Ensure accuracy of prices for all investment positions and, ensure appropriate and timely follow-up and resolution of discrepancies and exceptions.
5. Establish and reconcile initial margin requirements and daily margin calls.
6. Maintain and reconcile premium schedules for future contracts.
7. Prepare, submit for approval and process all instructions for electronic fund transfers relating to investments.
8. Audit and reconcile daily cash and securities movements with clearing brokers, banks, agents, and investment advisors, as required.
9. Prepare, submit for approval monthly, quarterly and yearly trial balances on fund accounts.
10. Prepare entries for general ledger accounting system (Prologue) for preparation of monthly, quarterly and or yearly financial statements as directed and approved by management.
11. Assist management in insuring that effective controls and procedures are in place for investments.
12. Prepare, submit for approval and process all properly authorized instructions for cash movements within pooled plans.
13. Audit and reconcile positions with investment advisors and perform fund valuations.
14. Upon receipt of properly authorized instructions, review, prepare, submit for approval and process all contributions for investments in defined contribution plans.
15. Reconcile defined contribution statements to all submitted transactions.
16. Establish and maintain a neat and accurate filing system for documents related to all funds and plans.
17. Prepare and submit for approval all loan fee payments and draw requests as directed and approved by management.
18. Update and maintain accurate records with respect to Ultra Loan Fund.
19. Perform various administrative duties as directed by manager.

Job Requirements
  1. Bachelor’s degree or equivalent work related experience.
  2. Thorough understanding of Depository Trust Company procedures, settlement practices, and product knowledge of equities, indexed funds, financial futures, options, and options on futures, including the futures deliver process.
  3. General knowledge of automated system processing as applied to equities, fixed income, financial futures and options.
  4. Comprehensive knowledge of the accounting principles, reconcilement process and operational requirements relevant to equities fixed income, financial futures and options.
  5. Thorough knowledge of personal computers together with the ability to use and develop spreadsheet applications in support of all recordkeeping, reconciliations, and fund valuations.
  6. Good oral and written communication skills.

Prospect 33 is an equal opportunity employer.

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