Job Detail

Fund Accounting Manager

Title
Fund Accounting Manager
Type
Full-time
Primary Location
New York
Education
Bachelor's Degree
Rate Type
Per year
Job Description

We are very excited to be supporting one of our newest clients on adding a key member of staff to their Fund Accounting team. We are in seek of a very strong manager with SME knowledge in the Fund Accounting space. The ideal candidate will work on site through Prospect 33 for a set period of time before transitioning to a FTE with the bank. The person will be tasked with managing a team of 4-8 Fund Administrators, including current Prospect 33 staff on site.

Candidates with very recent Fund Accounting experience will only be considered for this role, ideally from a Financial Services firm.

This Bank was started and owned by a Union, their main clients are Unions but the manager is not part of the union. Bank is now publicly traded on NASDAQ as of this year, with 40% ownership by a Union. Bank is approx $40B entity so under much of regulatory requirements CCAR etc. Bank has 16 funds in place, only institutional clients such as Pension Funds (AKA Qualified Investors - no Mutual Funds) and Trust Clients.

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

    • Bachelor’s degree or equivalent work related experience.
    • Must have demonstrable management experience in the Fund Accounting space
    • 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.
    • General knowledge of automated system processing as applied to equities, fixed income, financial futures and options.
    • Comprehensive knowledge of the accounting principles, reconcilement process and operational requirements relevant to equities fixed income, financial futures and options.
    • Thorough knowledge of personal computers together with the ability to use and develop spreadsheet applications in support of all recordkeeping, reconciliations, and fund valuations.
    • Good oral and written communication skills.

    Prospect 33 is an equal opportunity employer.

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