• Fund Accountant

    Posted Date 1 week ago(4/17/2018 1:28 PM)
    Req ID
    Regular Full-Time
    Boston Retirement System
    Ret Retirement Board
    Salary Min
    Salary Max
    Posting End Date
    Contact Email
  • Overview:

    This is a provisional appointment.


    Brief Job Description (essential functions of the job):

    The Boston Retirement Board has a diversified investment portfolio of approximately $5.5B; all funds are invested with outside investment managers.  Our holdings include, but are not limited to, equities, fixed income, hedge funds, and private investments. 


    Under the supervision of the Director of Finance and Investments, the Fund Accountant, as a member of our finance team, will be responsible for collecting and reconciling fund valuations, entering journal entries into our accounting software, preparing month end reports and statements, working with fund managers and custodian bank to resolve discrepancies, and special projects/related work as necessary.  


    • Assists in maintaining the fiscal records of the Boston Retirement System according to Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) standards, and all other applicable rules/laws.
    • Inputs all necessary journal entries into financial accounting software (PeopleSoft).  Calculates daily and monthly Net Asset Values (NAVs) for the System’s investments and cash holdings.
    • Resolves discrepancies when found. Tracks and reconciles all capital calls, distributions, and other income to ensure timely transfer of funds. Includes collecting, tracking, and depositing individual checks.
    • Works with portfolio managers, custodian bank, banks, consultants, and City of Boston Treasury Department to collect, track, and reconcile all transactions. Verifies all manager statements and organizes them for easy reference.
    • Works on the preparation of annual financial statements and contributes to year-end closing process. Supports annual System audit(s). Contributes to internal audit process. 
    • Contributes to documentation of best practices for fund accounting including aspects related to data management, reporting, and accounting.
    • Works with The Public Employees Retirement Administration Commission (PERAC) to provide regular and ad-hoc reports and builds cooperation between PERAC and the System.
    • Tracks and verifies all management fees, performance fees, and operating expenses.
    • May prepare trade notices as required.
    • Assists with special projects as assigned by senior management.
    • Performs related work as required.

    Minimum Entrance Qualifications:

    • At least three (3) years of fulltime, or equivalent part-time, experience in work that included accounting, audit, data validation, or financial reconciliation. A bachelor’s degree from an accredited college or university in business, economics, finance, accounting, or related field preferred and may be substituted for two (2) years of the required experience. Additional experience calculating Net Asset Values or preparing financial statements highly preferred.
    • Ability to enter and review financial data and resolve discrepancies.
    • Proficiency in MS Office and Excel strongly preferred.
    • Knowledge of best practices relating to accounting and investment management preferred.
    • Strong written and oral communication skills.
    • Ability to establish and maintain effective working relationships with co-workers, City employees, and banking representatives.
    • Ability to work independently and in a team-oriented, multi-cultural setting on a variety of tasks and report results to management.
    • Ability to exercise good judgment and focus on detail as required by the job.


    Boston Residency Required.


    Union/Salary Plan/Grade:   SEIU/RL-15

    Hours per week:  35


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