Accountant, Institutional Fund Accounting at Northern Trust in Chicago, Illinois

Posted in General Business 13 days ago.

Type: Full-Time

Job Description:

The Unitized Valuation and Reporting Services (UVRS) division determines Net Asset Values (NAV) for Defined Contribution plans such as 401(k) plans and Defined Benefit plans on a daily basis. The group falls under Global Fund Accounting Practice and serves large corporate relationships with portfolios containing equities, mutual funds, derivatives and fixed income securities. In addition the group delivers on an Annual Statements for the clients and auditors.

The role will including resolving reconciliations items, completing reasonability audits on trades and pricing, and completing a daily NAVs that are delivered to 3 rd party recordkeepers for senior level relationship. In addition, the candidate will complete monthly and annual reporting for the clients and assist junior level associates.


This is a second level position in department with great career path opportunities within Northern Trust which lead candidate to technical or management career path. Candidate should be willing to learn and adapt to change, have the ability to work in a team environment, and have a basic conceptual understanding of the financial markets. Analytical skills and Organizational skills are required to research and resolve inquiries. Attention to detail and multiple tasking skills are required to value the funds in a timely and accurate manner. Ability to work in a fast paced environment to meet deadlines while maintaining accuracy for the clients.

Major Duties

Work as part of a team to meet client deadlines and expectations by auditing and providing the daily Net Asset Value, monthly and annual client portfolio reporting, and annual 5500s reporting.

  • Determine Net Asset Value (NAVs) for defined contribution or defined benefit plans on a daily basis.
  • Evaluate and reconcile funds including mutual, benchmark, commingled, and collective for production of client month-end reports for daily valuation.
  • Analyze the impact of transactions, income positions, accruals, and corporate actions on the portfolio investment options.
  • Audit and resolve exceptions on assigned accounts according to procedures and within scheduled timeframes.
  • Assist in the timely preparation of portfolio statements in accordance with generally accepted accounting principles and performance standards.
  • Record and respond to partner and client inquiries resolving exceptions related to accounts.
  • Serve as a resource to clients, partners, and members of the team for clarity, understanding, and information regarding your relationships.
  • Utilize knowledge of client needs and business operations to assist with special requests of clients or other partner areas.
  • Assist in training and/or mentoring the newer associates
  • Play a role in plan changes or transitions for assigned clients.
  • Ability to be part of division wide initiatives

Bachelor's degree in Business/Finance/Accounting preferred in addition to work experience in Institutional Fund Accounting or Mutual Fund Accounting.

Microsoft 365 application including Excel, Powerbi and / or knowledge of FIS Accounting platforms a plus

Work Schedule: Monday- Friday: 10:30CT -7PMCT with slight changes depending on time-zone.

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Global Fund Services:

Global Fund Services (GFS) is a full-service provider of fund solutions to investment manager and fund company clients around the world. North America GFS Operations provides Fund Accounting and Administration, Custody Servicing, Investment Outsourcing Operations, Transfer Agency, and Investor Servicing. Our expert team of 900 partners across North America are solutions-oriented, innovative, and passionate about servicing clients and helping them execute their business strategies. We commit ourselves to ensuring our partners reach their full potential.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve!Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us andapply today.#MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at .

We hope you're excited about the role and the opportunity to work with us.

We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.

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