Position Summary
Guggenheim is seeking an exceptional candidate to join its Investment Accounting Analysis team as an Associate in the Fund Accounting Department. This person will be responsible for resolving cash and position reconciliation exceptions; analyzing security-level accounting information for client portfolios, including assets under management for invoice amounts; and maintaining GAAP and Statutory balance sheet values used in the portfolio management decision-making process.
The ideal candidate will be organized, detail-oriented, innovative, manage time efficiently, and possess critical and analytical-thinking skills. A key aspect of the role is collaborating and communicating with other groups within Portfolio Operations, portfolio management teams, and custodial bank representatives.
This position is located in Chicago.
Essential Job Functions
- Monitor accounting system production jobs and review accounting entries processed by offshore team; execute checks and controls to ensure timely accuracy of data in accounting system
- Work with internal and external parties to resolve position reconciliation exceptions, identify root causes of exceptions, and escalate to stakeholders as needed
- On daily basis ensure transactions and income are properly recorded in accounting system; be able to trouble shoot, correct and identify root causes of the issues
- Work with Client Service Support team to ensure new portfolio and security-level accounting are correct at the point of initial account set-up
- Record asset transfers and monitor accuracy of corporate actions recorded in the accounting system
- Process capital activity for limited partnership portfolio; reconcile monthly transactions and prepare monthly LP market value roll-forward report
- Periodically review earned income for more complex investments
- Analyze fixed income securities book yields in ABOR; load and review expected cash flows to support accurate accounting book values and yields
- Asist in review and up-load accounting book of records’ (“ABOR”) book value information into investment book of records’ (“IBOR”)
- Reconcile periodically ABOR asset market values to the corresponding IBOR asset market values; efficiently and accurately analyze root causes of variances, and clearly summarize exceptions for management
- Ensure holdings are reconciled to custody accounts’ positions and values for certain portfolios. Communicate and resolve exceptions with Custodian
- Reconcile cash per bank to investment accounting records (including reconciliation of open receivable/payable for securities, due and accrued interest)
- Participate and contribute to initiatives that generate greater accuracy in accounting information and process efficiencies; and assist with ad hoc requests and special projects as assigned
Preferred Qualifications
- Currently holding or pursuing CPA or CFA
- GAAP and/or Statutory accounting for insurance company investments
- Team-oriented individual with ability to collaborate with a diverse range of groups
- Ability to multitask, prioritize and meet tight deadlines in a fast-paced environment, while maintaining accuracy and quality of work
- Analytical mindset to problem-solve and analyze processes and procedures for improvements
- 5+ years’ accounting experience in financial services, specifically back-office investment operations and/or fund accounting.
- Experience with PAM for Investments, BlackRock Solutions and/or Wall Street Office or a similar investment system.
Basic Qualifications
- Bachelor’s degree in finance or accounting
- 1-3 years’ accounting experience in financial services, specifically back-office investment operations and/or fund accounting
- Proficiency in MS Excel (including understanding of complex formulas for large data analytics), Access, Word, etc
- Team-oriented individual with ability to collaborate with a diverse range of groups:
- Ability to multitask, prioritize and meet tight deadlines in a fast-paced environment, while maintaining accuracy and quality of work
- Analytical mindset to problem-solve and analyze processes and procedures for improvements
- Comprehensive knowledge about fixed income, loans, limited partnerships, and equity securities
Salary Details
Actual base salaries may vary depending on factors such as location and experience.
Currently, this role is expected to be in the Chicago office at least 4 days per week.
About Us
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with expertise in fixed income, equity, and alternative strategies. We focus on the return and risk needs of our diverse client base that includes insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, wealth managers, and high net worth investors.
#GuggenheimInvestments is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Learn more at GuggenheimInvestments.com and follow us on LinkedIn.
