What does a Fund Accountant do?
Fund accountants are primarily responsible for the aspects of day-to-day accounting for their assigned mutual or institutional funds. They prepare timely and accurate fund accounting output, including net asset values, yields, distributions for subsequent review, and accounting for investment portfolios including securities, real estate, or commodities. They calculate and report net asset values per unit and compile standard weekly and monthly financial statements and income expense accruals.
Fund accountants conduct daily analysis of various financial metrics to help firms set a price or value of their funds. They also calculate and report income, expense, and item-specific accrual statements including a dividend or interest income worksheet and other schedules including a T-bill. They monitor and record security transactions including trade, interest payment, maturity and corporate actions. They report findings promptly to clients and ensure their findings adhere to laws, compliance, and protocol. Fund accountants need a minimum bachelor’s degree in accounting, finance, or related fields.
- Implement fund structures on accounting system.
- Assist in design and implementation of internal audit practices and procedures.
- Coordinate with fund administrator for accounting and reporting matters.
- Review and coordinate fund expense analysis and expense processing.
- Assist in development of policies and procedures for work performed.
- Prepare reports provided to internal and external customers, including maintenance of supporting documentation.
- Analyze fund performance on a daily and monthly basis.
- Oversee, as a resource, acquisitions of new business and portfolio management.
- Generate quarterly financial statements, accompanying notes, and supporting schedules.
- Daily/Monthly/Quarterly reconciliation of investment positions and fair market values.
- Assist with reviewing compliance and regulatory filings.
- Support and review the work produced by lower level staff.
- Prepare and maintain goals and career development plans for all direct reports.
- Quarterly calls: Track participants and take notes for calls.
- Assist in tracking PSC member information participation in meetings and teleconferences.
- Ensure accurate and timely recording of general journal entries.
- Where applicable, support the tax team with information to prepare tax compliance/reports.
- May participate in annual and strategic business planning process.
- Develop strong business relationships with both internal and external clients.
- Provide fund advisors with forecasted available cash for fund every morning in a quick and accurate manner.
- Prepare allocations of capital calls and distributions and setup notices accordingly.
- Assist other departments with the acquisition and disposition of real estate properties.
- Bachelor's Degree in accounting or business, or GED/high school diploma and equivalent experience.
- Experience with C#, IRR, and SOC software and systems.
- Fluent in GAAP updates and requirements.
- Experience with legal documentation and enterprise resource planning.
- Prior experience in a consulting position.
- A sound decision maker and natural problem solver with demonstrated critical thinking and collaboration skills.
- A good work ethic and natural leader.
How much does a Fund Accountant make near United States?
Base Pay
Additional Pay
$66,904
/ yrFund Accountant Career Path
Learn how to become a Fund Accountant, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Fund Accountant Insights
Citco“People are great resource of Citco Group and one of the best reasons to work for this company.”
Gen II Fund Services“Overtime pay on top of the LOW base salary does help take the sting out of this MEAGER pay.”
CIBC“Best place to work and good for opportunties”
BNP Paribas“Good lifts and ambience is nice”
Alter Domus“Good bonus and WFH options are good.”
Brown Brothers Harriman“Good teams and good WLB.”
Citi“You get to learn and do a lot but I terms of benefits don't expect much.”
“Friendly nice great good best”
Frequently asked questions about the roles and responsibilities of a Fund Accountant
- Management Accountant
- Accountant
- Accounting Manager
- Cost Accountant