HomeDelawareFund Accountant I - Alternati...
UMB Bank

Dover, DE

Fund Accountant I - Alternative Investments (Remote Hybrid)

Location55 Loockerman Plaza, Dover, Delaware 19901
Employment TypeContractor
Date Posted2022-09-07
Direct Apply
Valid Through2023-02-14

Job Description:

Be part of something more.

A majority of our time is spent “at work.” We believe that time most meaningful when it’s spent around people who care about you and who challenge you. We hire people who know how to make good decisions, because we won’t be constantly looking over your shoulder—you’ll be empowered to do what’s right for our customers. Most importantly, we’re a partner. We partner with our associates to help them thrive personally and professionally. We partner with our communities and the organizations that support them. And, we partner with our customers to create an experience they won’t find elsewhere.

Are you ready to be part of something more?

You’re more than a means to an end—a way to help us meet the bottom line. UMB isn’t comprised of workers, but of people who care about their work, one another and their community. Expect more than the status quo. At UMB, you can expect more heart . You’ll be valued for exactly who you are and encouraged to support causes you care about. Expect more trust . We want you to do the right thing, no matter what. And, expect more opportunity . UMBers are known for having multiple careers here and having their voices heard.

The Fund Accounting Alternative Investments Team provides accounting, pricing, and reconciliation services for our alternative investment fund clients. This group is a growing team that continues to add to our client portfolio. With additional clients and the evolution of client needs comes the opportunity to grow our knowledge base and expand our technological capabilities.

The Fund Accountant-Alternative Investments role supports UMB by handling all accounting, bookkeeping, and reporting for our clients. In this role, you will have the opportunity to grow professionally, learning more complex tasks, increasing client contact, and ultimately training and reviewing peer’s work. UMB will also help you pursue your CPA!

Working in the Fund Accounting group at UMB can be fun, challenging, and very team oriented. We perform at a high level for our clients and believe that relationships both internally and externally are key to UMB’s success. There are deadlines we rally around as a team and we rely on our shared expertise to accomplish our goals. We enjoy being part of a work family and many of our associates get together for intermural sports and various community service projects throughout the year.

How you’ll spend your time:

  • You will operate Excel and UMB accounting systems to perform general ledger accounting functions, enter trade information, price securities, and reconcile accounts.

  • You will ensure data accuracy and prepare client financial statements and reports to share with investors.

  • You will interact with clients to address any requests as well as handling correspondence to the client investor base.

  • Perform accounting, pricing, reconciliation and first level review functions for more complex funds.

  • Independently perform general ledger accounting functions in compliance with all accounting policies and procedures and in accordance with applicable rules and regulations such as SEC, IRS and GAAP

  • Assist with developing and maintaining strong relationships with clients and other professional firms (such as audit/tax) with whom the clients conduct business

  • Review preliminary and final trial balances and net asset value (NAV) for funds completed by junior level Fund Accountants

  • Monitor and review cash settlements, investor activity, interest, dividend payments, and other cash items to ensure that outstanding issues are being addressed and elevated to the appropriate level

  • Maintain and/or review monthly audit and expense analysis schedules to support year end audits and financial statement preparation. Enter and/or review trade information as needed, to reflect current positions in each funds portfolio. Price securities, as required, in accordance with the funds Offering Memorandum (OM).

  • Identify, investigate, and propose solutions for daily accounting and pricing issues. Review or where necessary prepare account reconciliations and ensure that all exceptions are resolved in a timely fashion.

  • Report information to: clients, brokers, and accounting systems. Review or where necessary prepare the financial reports to ensure that the income has been allocated correctly in accordance with the funds documents. Review or where necessary prepare the financial reports to ensure that the management and incentive fees have been calculated and allocated correctly in accordance with the funds documents. Review and distribute the financial statements, investor reports and other client reports.

  • Schedules to include the balance sheet, income statement, statement of cash flows, financial highlights and accompanying notes

  • Calculate and present for review, to the Lead or Manager, the final financial package, and the net asset value of the fund.

  • Review or where necessary prepare the expense accrual analysis. Prepare the quarterly regulatory filings, such as N Q, N CSR etc., where applicable

  • Utilize general working knowledge of alternative investment funds.

  • Other duties as assigned.

We’re excited to talk with you if:

  • You have a bachelor’s degree in accounting or finance

  • You are an organized individual who works well as part of a team and thrives in a deadline driven environment

Candidates who exceed the minimum experience of a bachelor’s degree in accounting or finance or equivalent experienced, may be considered for the position of Fund Accountant 2 or 3 if minimum qualifications are met for the respective role

UMB and its affiliates are committed to inclusion and diversity and provide employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex (including gender, pregnancy, sexual orientation, and gender identity), national origin, age, disability, military service, veteran status, genetic information, or any other status protected by applicable federal, state, or local law. If you need accommodation for any part of the employment process because of a disability, please send an e-mail to ***** or call ***** to let us know the nature of your request.

Job ID: 7817167619446704596

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