Daily Valuation division determines Net Asset Value (NAV) for Defined Contribution plans such as 401(k) plans, Profit sharing plans, Public Funds on a daily basis. The majority of clients are Large Corporate relationships with portfolios holding equities, derivatives, mutual funds, and fixed income securities. In addition to analyzing and auditing participant / investment options, Daily Valuations produces portfolio statements as well as 5500 reporting to clients and the Department of Labor.
Evaluate, analyze and reconcile Mutual Funds and separately managed funds for production of client month-end reports and to determine the Net Asset Value (NAV) on a daily basis for Defined Contribution plans such as 401(k) plans, profit sharing plan, Public funds etc. Analyze impact of Investment Manager trading activity on the investment portfolio returns and market value. Also, audit income posting, accruals, and corporate actions --all within scheduled time frames. Perform exception resolution of cash, holdings reports and price variances and any activity in the investment accounts.
Details you should know:
* Work Hrs - 10:30 am to 7:00 pm CST and with flexibility of over time required + NAV for the night has to be completed before the Analyst can go home.
* Holiday Schedule - Follow the US Stock Market schedule (have to work half days on Columbus and Veterans days - Good Friday is a Holiday for DV)
* Vacation Policy - 1st, 2nd, 3rd and last business day are not allowed, unless an emergency. For fourth and fifth business day vacation is allowed at manager discretion.
Basic knowledge of accounting / finance and securities usually obtained through business related coursework and/or prior related experience. Analytical skills and Organizational skills are required to research and resolve inquiries within scheduled timeframes to meet client deadlines. Attention to Detail and Multiple Tasking skills are required to value the funds in a timely and accurate manner. Ability to absorb information fast and work in a Fast Paced environment and meet deadlines while maintaining accuracy is critical.
1.) Determine Net Asset Value (NAV) for DC plans on a daily basis.
2.) Evaluate and reconcile funds including mutual, benchmark, commingled, and collective for production of client month-end reports for daily valuation.
3.) Analyze the impact of transactions, income positions, accruals, and corporate actions on the portfolio accounts.
4.) Audit and resolve exceptions on assigned accounts according to procedures and within scheduled timeframes.
5.) Assist in the timely preparation of reports and financial statements in accordance with generally accepted accounting principles and performance standards.
6.) Record and respond to partner and client inquiries resolving exceptions related to accounts.
7.) Value funds on a daily, weekly, or monthly basis.
8.) Provide client portfolio and 5500 reporting.
Bachelor’s degree in Business preferred or relevant work experience in Fund Accounting or Mutual Fund Accounting. New grads with a Business degree may be considered. Strong Excel skills and usage of a Macro/Access is plus.
Internal Candidates - Experience in Sun-Guard Systems (Invest-One) is a plus. Additionally knowing Northern Trust Proprietary systems such as Fundmaster, Pace, Management Reporting, IMS, CDR would also be a plus.
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