Job Detail

Fund Accounting Manager

Fund Accounting Manager
Primary Location
New York
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.
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.

    Apply To Job