Job Role Description

Accounting > Mutual Fund Accountant (3 to 5 Years)

Salary National Average

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47290.0000 64330.0000 78450.0000

Change from Previous Year:

+6%

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Short Description:

 

A Mutual Fund Accountant is responsible for managing and maintaining the financial records of mutual funds. Their duties include reconciling daily transactions, calculating net asset values (NAVs), and preparing financial statements in compliance with regulatory standards. Mutual Fund Accountants often collaborate with investment managers, auditors, and regulatory bodies to ensure accurate reporting and adherence to industry guidelines. Strong analytical skills, attention to detail, and knowledge of financial instruments and accounting principles are essential for success in this role, as Mutual Fund Accountants play a crucial role in the accurate valuation and financial reporting of mutual funds.

Duties / Responsibilities:

  • Coordinate with counterparties and the fund administrator during reviewing the fund's cash and position reconciliations and resolving breaks.
  • Perform investment and fund-level performance calculations.
  • Review capital call and distribution allocations and memos from fund administrator(s).
  • Review the allocation of Profit & Loss (P&L) to investors and calculate management and performance fees.
  • Review fund level and service provider documentation to ensure that accounting and pricing are accurate.
  • Create fund expense budgets to update expense accruals.
  • Assist with the quarterly and annual audit processes and review financial statements.
  • Assist in creating analysis needed for updating marketing materials and preparing due diligence questionnaire responses.
  • Coordinate with prime brokers, fund administrators, and custodians during the onboarding process of new fund launches.

Skills / Requirements / Qualifications

  • Experience: 3-5+ years of fund accounting experience in fund administration and in-house with exposure to Private Equity, Venture Capital, and Real Estate funds.
  • Education: Bachelor's degree in Accounting or related field required. CPA would be an advantage but not required.
  • Team Work: Experience with reviewing fund accounting work for team members.
  • Private Equity Experience: Experience with annual reporting (audited financial statements) and familiarity with private real estate reporting models (operating/non-operating).
  • Software skillset: Experience with C#, Internal Rate of Return (IRR), and System on a Chip (SoC) software and systems.
  • Compliance: Fluent in U.S. GAAP updates and requirements.
  • Miscellaneous: Experience with fund-level accounting and reporting, including complex fund structures and consolidations, waterfall, performance metrics (IRRs), distributions, and capital calls calculations. Experience scoping out system requirements and implementing new systems. Experience with legal documentation and enterprise resource planning.

Job Zones

  • Title: Job Zone Four: Considerable Preparation Needed
  • Education: Most of these occupations require a four-year bachelor's degree, but some do not. 
  • Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. 
  • Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  • Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others. 
  • Specific Vocational Preparation in years: 2-4 years preparation (7.0 to < 8.0)

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