Investment Accountant

Minneapolis, Minnesota
Oct 15, 2020
Nov 14, 2020
Job Function
Employment Type
Full Time

At Parametric, we offer competitive salaries, generous benefits and opportunities for growth and development. We invite you to explore our available job opportunities listed below and look forward to having you become a part of our continued success!

General Description

The Investment Accountant is responsible for reconciling Client portfolios, and providing the resulting accounting reports to Clients and their consultants.   Clifton’s books and records are reconciled against statements provided by all counterparties that also provide services to the Client.  Upon completion of this process, the Investment Accountant works with the counterparties to correct errors, monitor resolution, and ensure the Accounting Manager is apprised of all situations that are not corrected in a timely manner.  Because AUM and Client management fees are based on these values, accuracy and timely resolution are critical. 

Primary Responsibilities

  • Obtain and organize statements from banks and brokers to be used in the reconciliation process.  Monitor to ensure final and preliminary versions are available, properly labeled, and filed.
  • Careful analysis and reconciliation of statements received from custodians, swap counterparties, futures commission merchants, financing counterparties, and a variety of brokerage firms.
  • Research and resolve discrepancies in a timely manner.
  • Research and resolve complex problems to minimize the impact to the Client.  If such problems are the result of system weaknesses or security profile error, work with appropriate senior level staff to remedy immediately, as typically these issues will impact multiple Clients.
  • Upon receipt of corporate action information, compile relevant positions, ensure the notification has been received for all Clients, and work with Portfolio Managers to determine the decision.  Communicate and follow the resulting transaction through to ensure all Clients are impacted in the desired manner.
  • Leverage business relationships with counterparties to negotiate and expedite the implementation of accounting solutions and improvements to better serve Clients.
  • Ensure deadlines are met across Clients, understanding that this may require Accountants to put aside their scheduled work to assist colleagues in meeting earlier deadlines.
  • Escalate aged reconciliation discrepancies and situations that may indicate a lack of control or data integrity.
  • Compile and maintain procedures manual.
  • Provide accurate financial data that will support performance returns for each Client.
  • Assist in the calculation of performance returns for Clients.
  • Responsible for the shadow accounting for all proprietary funds, insuring Fund Administrators correctly account and accrue for all aspects of Clifton’s Funds. 
  • Insure Fund Clients receive accurate Net Asset Value statements by reviewing all returns, positions, prices, P&L, and fund expenses.
  • Calculate management fee invoices for Fund Administrators, and ensure prompt payment.
  • Verify NAVs for multiple share classes, ensuring each investor is being properly charged expenses according to their share class or their unique side letter.

Job Requirements

  • (4yr) degree w/ concentration in Finance or Accounting
  • 3+ years relevant experience in fund accounting working with an Investment Manager, Hedge Fund or business in a similar industry
  • CPA and/or MBA a plus
  • Competent in Microsoft Office programs
  • Proficient in Excel, using PivotTables and V-Lookups
  • Experience and familiarity with accounting software a plus
  • Understanding of the characteristics of various assets types such as futures, swaps, options, assets backed bonds, equities, bonds, and ETFs desirable
  • Familiarity with fund accounting
  • Strong attention to detail
  • Ability to work independently under tight deadlines
  • Leadership skills are encouraged