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Fund Operations Associate

Req #: 170084118
Location: Boston, MA, US
Job Category: Account Servicing
Job Description:

The JP Morgan Accounting Control Group delivers a range of services to mutual fund clients based in the United States.  The Accounting Control Group takes direct responsibility for the production and delivery of key inputs into Fund Administration deliverables.  Functions include but are not limited to adjustments to financial statements, trial balance analytics, audit support, system maintenance activities and subject matter experts for various projects.  Broad knowledge of fund accounting is required as the Accounting Control Group takes ownership of the accuracy of key input deliverables to various reports, including client financial statements.

 

Experience

 

Candidate to have 5-7 years or more experience in a Fund Accounting environment and experience in Fund Accounting or Fund Administration activities (Financial Reporting, Compliance, Tax, and/or Treasury).  Candidate should have managed a team of 1-2+ people/should have an accounting background. 

 

Main Duties and Responsibilities

  • Execute the production of the Team’s monthly deliverables.  Deliverables vary by team member role and include but are not limited to the following:
    • Run process reviews evaluating the trial balance for high risk items: execute critical checks and review balances on an ongoing basis ensuring issues are escalated and resolved. 
    • Prepare and/or review of financial statement adjustments from source to entry into the financial system.
    • Track and answer auditor/client/internal inquiries and fulfil internal and external requests accurately and timely.
    • Execute maintenance activities including completion of pre cycle activities, fund set-ups, chart of account maintenance and mapping.
    • Track to ensure all monthly deliverables, open items and/or escalation items have been documented and communicated to the appropriate parties and followed through until resolution.
  • Act as a contact for inquiries from partner sites/clients/auditor requests and ad hoc projects on issues. Represent JPMorgan Fund Accounting on calls and in-person meetings with external auditors and clients.
  • Able to resolve team queries. Run problem investigations and implement resolutions as needed.
  • Analyze accounting records and be able to clearly articulate fund accounting transactions/ processes to clients, external audit firms, and internal business partners.
  • Research and resolve inquiries from clients, external audit firms and internal business partners.  Engage internal business parties for assistance, when needed.  Ensure all inquiries are tracked and monitored through completion.
  • Prepare audit confirmation letters and manage broker confirmation process with the auditors/client.
  • Support year-end excise and distribution process including the production of income projections.
  • Assist in developing and adjusting department procedures, systems enhancements and achieving department’s efficiency goals. 
  • Recognize and act on opportunities to improve processes including developing and making recommendations for change.
  • Ensure all the Risk and Control checks are in place. Liaise with OCM team in case of issue. 
  • Work in accordance to Standard Operating Procedures and escalate to supervisors of any deviations. Ensure proper controls are maintained including but not limited to:
    • Prepare/review file in accordance with internal control checklist for items applicable to that particular portfolio.
    • Keep adequate documentation on file to fully explain and support all items, particularly those, which would be deemed unusual.
    • Complete accurate and legible files within deadlines set by Managers in order to fulfill production requirements.
    • Ensure documentation is completed and signed off as per requirements.
  • Coach, develop and mentor staff including formal objective setting, performance reviews and providing ongoing and regular feedback.
  • Work with local and global management team as and when required.

Gain knowledge of the client's structure i.e. its and various types of portfolios, their deliverables, and some of their specific requirements.

Key Skills and Knowledge

  • Understanding of various investment types including fixed income, equities, and derivatives.
  • Ability to explain general fund accounting principles, cash and asset reconciliation items, and calculation of interest income, amortization, dividends, complex corporate actions etc.
  • A self starter who can work on their own initiative.
  • Requires problem solving skill set and have a naturally inquisitive mind.
  • Ability to produce quality product to tight deadlines in a fast paced environment.
  • Proficient technical skills with the core Microsoft Office suite of products (Excel, PowerPoint, Word, Access) & external market vendor application (Bloomberg, FTS etc). Knowledge of JPM Accounting applications (WINS, Unity, Newton, and SPECTRA/OLE) is desirable. 
  • Skill to partner with internal teams and external clients to ensure resolution of all open queries/alerts.
  • Strong communication skills (both written and verbal) are essential
  • Ability to provide premier client service by building strong relationships with internal counterparties.
  • Knowledge of the theoretical and technical nature of mutual and commingled fund accounting and administration, as well as all review procedures and controls.
  • Strong technical understanding of the investment industry including an overview of various regulatory requirements and accounting standards.
  • Preferably qualified Chartered Accountant/background in accounting finance having at least 5 years of experience in Financial Services industry/(financial reporting activities/fund accounting/audit ) in a service delivery model.
  • Flexible & willing to work additional hours at peak reporting times if necessary and inculcating the same in the team.
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