Fund Accountants provide accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual fund or hedge fund. Daily reporting needs make this a fast-paced, deadline-driven role.
While many financial institutions have moved toward outsourcing Fund Accountant positions, demand for the role remains steady.
College/Undergraduate degree typically required.
Office
While many financial institutions have moved toward outsourcing Fund Accountant positions, demand for the role remains steady.
College/Undergraduate degree typically required.
Office
Responsible for all aspects of day-to-day accounting for a group of assigned funds: Calculate and report the daily NAV (Net Asset Value) per unit, compile standard weekly and/or monthly financial statements and income and expense accruals.
May conduct research in support of fund management: For example, may compare several funds’ performances and prepare reports for use by management, or research the effect of certain corporate actions on fund value.
Fund Accountants will work in the fund management area of any financial organization that manages a fund, such as a mutual fund company or bank. However, many organizations now outsource fund accounting to firms that specialize in this function.
Regardless of their place of employment, Fund Accountants focus on:
Daily analysis of various financial metrics: These metrics assist firms in setting the price/value of their funds.
May focus on more complex funds: More senior Fund Accountants may focus on such areas as hedge funds, exchange traded funds and private equity funds.
Fund Accountants generally:
Calculate and report on fund Net Asset Values (NAVs) on a daily basis:
Perform daily, monthly and periodic functions relating to accounting and record keeping:
Assist in maintenance and improvement of systems applications:
Must-haves:
Nice-to-haves:
Entry-level positions typically require:
In the fields of:
Additional certifications may include:
There are a number of pathways open to Fund Accountants through:
Rules, regulations and tax laws can influence the demand and qualifications for this role. For example, movement of the Canadian accounting standards from GAAP (Generally Accepted Accounting Principles) to IFRS (International Financial Reporting Standards) required many Fund Accountants to acquire more knowledge of IFRS standards.