Job brief
We are seeking an experienced Fund Accountant to join our investment operations team and take ownership of accounting processes for our $2.5 billion multi-strategy fund platform. In this role, you will ensure accurate NAV calculations, manage investor reporting workflows, and collaborate closely with portfolio managers, compliance officers, and external service providers to maintain the highest standards of fund administration. You will work with cutting-edge financial technology, contribute to process automation initiatives, and play a critical role in supporting our fiduciary responsibilities to institutional and high-net-worth investors. If you are passionate about investment accounting and thrive in a detail-oriented, deadline-driven environment, this role offers exceptional growth opportunities.
Key highlights
- Calculate daily net asset value (NAV) for multiple investment funds using portfolio management systems such as Charles River, SimCorp, or Advent Geneva
- Reconcile cash positions, securities holdings, and derivative exposures between custodian reports and internal portfolio records to ensure data integrity
- Prepare monthly investor statements, quarterly regulatory filings (Form N-Q, Form PF, 13F), and annual audited financial statements in compliance with GAAP and fund governing documents
- Validate third-party pricing for complex securities including private placements, distressed debt, and over-the-counter derivatives through independent valuation analysis
What is a Fund Accountant?
A Fund Accountant is a specialized accounting professional who manages the financial operations of investment funds, including mutual funds, hedge funds, private equity, and pension funds. Working with sophisticated portfolio management systems such as Charles River, SimCorp Dimension, or SS&C Advent, Fund Accountants ensure accurate net asset value (NAV) calculations, maintain investor capital accounts, and produce regulatory filings required by the SEC, CFTC, and other governing bodies. Their expertise in fund structures, derivative instruments, and complex security valuations is essential for maintaining investor confidence and regulatory compliance in the asset management industry.
What does a Fund Accountant do?
On a typical day, a Fund Accountant calculates daily NAV for investment portfolios, reconciles cash and position discrepancies between custodian banks like State Street or BNY Mellon and internal records, and processes subscription and redemption transactions for fund investors. They prepare monthly investor statements, quarterly regulatory reports such as Form N-Q and Form PF, and coordinate with fund administrators, prime brokers, and auditors during month-end close processes. Fund Accountants also validate derivative mark-to-market valuations, investigate pricing discrepancies on illiquid securities, and support annual audits by providing detailed transaction histories and supporting documentation to firms like PwC, Deloitte, or KPMG.
Key responsibilities
- Calculate daily net asset value (NAV) for multiple investment funds using portfolio management systems such as Charles River, SimCorp, or Advent Geneva
- Reconcile cash positions, securities holdings, and derivative exposures between custodian reports and internal portfolio records to ensure data integrity
- Process investor subscriptions, redemptions, and distributions while maintaining accurate capital account records and calculating management and performance fees
- Prepare monthly investor statements, quarterly regulatory filings (Form N-Q, Form PF, 13F), and annual audited financial statements in compliance with GAAP and fund governing documents
- Validate third-party pricing for complex securities including private placements, distressed debt, and over-the-counter derivatives through independent valuation analysis
- Coordinate month-end and quarter-end close processes with fund administrators, prime brokers, and external auditors to meet strict reporting deadlines
- Analyze expense allocations across fund series and share classes, ensuring accurate calculation of total expense ratios and compliance with prospectus limits
- Support annual financial statement audits by preparing audit confirmations, providing transaction detail, and responding to auditor inquiries from Big Four accounting firms
Requirements and skills
- Bachelor's degree in Accounting, Finance, or related field with 3+ years of experience in fund accounting or investment operations
- Professional certification such as CPA, CFA, or CAIA preferred, with strong understanding of investment vehicles and accounting standards
- Proficiency in portfolio management systems including Charles River, SimCorp Dimension, SS&C Advent Geneva, or similar institutional platforms
- Advanced Excel skills including complex formulas, pivot tables, and VBA macros for financial modeling and data analysis
- Deep knowledge of GAAP, investment company accounting rules under ASC 946, and regulatory requirements for registered and private investment funds
- Experience with derivative instruments including options, futures, swaps, and foreign exchange contracts, and their accounting treatment
- Strong analytical skills to investigate pricing discrepancies, reconcile complex transactions, and resolve accounting issues under tight deadlines
- Excellent attention to detail and ability to manage multiple fund accounting responsibilities while maintaining accuracy in a high-volume environment
FAQs
What does a Fund Accountant do on a daily basis?
A Fund Accountant is responsible for calculating net asset values (NAV) for investment funds, reconciling portfolio positions with custodian banks, and processing investor transactions such as subscriptions and redemptions. Daily tasks include validating security prices, investigating cash and position breaks, updating investor capital accounts, and ensuring accurate fee calculations for management and performance fees. Fund Accountants work extensively with specialized software like Charles River, SimCorp, or SS&C Advent to manage complex investment portfolios including equities, fixed income, derivatives, and alternative investments. They also coordinate with prime brokers, fund administrators, and auditors to maintain accurate books and records for regulatory compliance.
What skills and qualifications are required for Fund Accountant jobs?
Fund Accountants typically need a bachelor's degree in accounting or finance, with 2-5 years of experience in fund administration, investment operations, or public accounting. Professional certifications such as CPA, CFA, or CAIA are highly valued and often preferred by employers. Technical skills include proficiency in portfolio management systems like Charles River or SimCorp, advanced Excel capabilities, and deep knowledge of investment accounting principles under ASC 946. Fund Accountants must understand complex financial instruments including derivatives, foreign exchange, and alternative investments, while maintaining expertise in GAAP, SEC regulations, and fund compliance requirements. Strong analytical skills and attention to detail are essential for managing multiple funds and meeting strict daily NAV deadlines.
Who does a Fund Accountant work with in their role?
Fund Accountants collaborate extensively with internal teams including portfolio managers, compliance officers, operations specialists, and senior management to ensure accurate fund reporting. Externally, they work closely with custodian banks like State Street or BNY Mellon, prime brokers such as Goldman Sachs or Morgan Stanley, and third-party fund administrators including SS&C or Citco. They also coordinate with external auditors from Big Four firms during annual audits, communicate with pricing vendors like Bloomberg or Refinitiv for security valuations, and interact with regulatory bodies when filing required reports. Additionally, Fund Accountants often work with transfer agents, legal counsel, and investor relations teams to support fund operations and investor communications.
What is the career path and salary range for Fund Accountants?
Fund Accountants typically start in junior roles earning $55,000-$75,000 annually, progressing to senior positions with salaries ranging from $80,000-$120,000 depending on experience and location. Career advancement often leads to supervisory roles such as Fund Accounting Manager ($100,000-$150,000) or Director of Fund Operations ($130,000-$200,000+). Many Fund Accountants transition into portfolio operations, investor relations, or compliance roles within asset management firms. The role provides excellent exposure to investment strategies, regulatory frameworks, and financial markets, making it a valuable stepping stone to senior positions in fund management, investment banking, or starting independent advisory practices. Professional development through CPA, CFA, or CAIA certifications significantly enhances earning potential and career mobility.