Investment Accounting Analyst

The Investment Accounting Analyst is responsible for performing accounting tasks for assigned private market accounts to ensure that transactions, including cash flows, and market values are reported timely, accurately and in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The position is expected to independently identify and coordinate the resolution of reconciliation discrepancies and be able to evaluate the reasonableness of reporting received from fund managers. The Investment Accounting Analyst also completes ongoing monitoring tasks. The position reports to the Manager of Accounting.

35% - Ongoing Monitoring

• Evaluates quarterly and annual financial statements to ensure basis of accounting is consistent with fair value reporting and US GAAP and resolves /escalates exceptions as needed
• Reviews annual audited financial statements and documents analysis of auditor's report, balance sheet, statement of changes in equity, note disclosures and K-1s in tracking spreadsheets
• Communicates with fund managers to obtain and clarify information required to perform the annual valuation risk ranking
• Monitors reports received from fund managers and corresponds with fund managers to ensure timely receipt of reporting per contractual documents
• Researches and validates explanations of material changes in valuations on fair value roll-forward using private market data aggregation portal (eFront Insight)
• Analyzes quarterly fund manager reporting to identify quarterly accrued and realized carried interest amounts allocated to the SBA and ensures accurate tracking in portfolio monitoring system (Backstop)
• Analyzes quarterly fund manager reporting to identify unfunded commitments and ensures accurate tracking in portfolio monitoring system (Backstop)

40% - Transaction and Valuation Processing

• Sets up new investment accounts in portfolio monitoring system (Backstop) and Private Market Accounting SharePoint site
• Analyzes distribution/contribution notices received from the investment’s manager and prepares the instructions for Financial Operations and custodian bank to record daily cash flow activity consistent with US GAAP
• Monitors for legal and consulting fee payments in Procure-to-Pay system (PeopleSoft P2P) and instructs Financial Operations and custodian bank on how to post upon payment
• Determines appropriate posting instructions for non-cash transactions, including but not limited to management fees taken from cash on hand or line of credit, reclassifications of distributions from general ledger code 67696, and ad hoc accounting corrections to ensure complete an accurate journal entries of activity per US GAAP
• Verifies that posting instructions are reported correctly by in custodian bank system (NEXEN) and internal investment management system (Eagle)
• Reconciles transactions posted in custodian bank system (NEXEN) against transactions posted by Financial Operations in internal investment management system (Eagle) and directs custodian bank, Financial Operations, and asset classes in resolving discrepancies
• Evaluates and analyzes manager statements to ensure data is appropriately classified and entered into portfolio management system
• Reconciles monthly and quarterly manager statement data to internal records and resolves discrepancies, including liaising with fund managers to confirm cause of discrepancies and directs corrections as deemed necessary
• Prepares monthly market value reports using portfolio monitoring system (Backstop) and evaluates data to ensure report is complete, valid and accurate prior to sending to custodian bank
• Calculates and ensures accurate upload of monthly pricing for private market investments in investment management system (Eagle)
• Prepares monthly inventory reconciliations to ensure custodian bank investment reports (NEXEN) agree with internal reports (Eagle and Backstop)
• Researches inventory reconciliation discrepancies and directs / collaborates with Financial Operations, Financial Systems, Performance, asset classes and custodian bank in resolution
• Reviews monthly inventory reconciliations prepared by other team members to ensure completeness and accuracy
• Updates monthly Investments By Program workbooks specific to private market investments

15% - Program Oversight, Information Technology and Year End Tasks

• Audits appraisal administrator invoices against contract and work product to ensure appropriate payment
• Liaises with appraisal administrator and SBA departments (e.g., Accounts Payable, Contracts, Real Estate asset class) to research and resolve payment discrepancies
• Verifies general ledger system trial balances (PeopleSoft) agrees with custodial bank ledger (NEXEN)
• Develops working knowledge of SharePoint workflows and coordinates with asset classes and Financial Operations to resolve workflow errors
• Develops working knowledge of RPA processes and uses RPA resources effectively

05% - Creates and maintains documentation of all major job responsibilities, and participates in Accounting’s cross-training plan

• Develops and maintains thorough knowledge of SBA systems and operations including the SBA portfolio management systems, custodian bank software, and SBA operating procedures in Accounting, Financial Operations and other sections
• Creates and maintains written desk procedures for each major task performed
• Identifies procedure modifications to improve the effectiveness and efficiency of Accounting processes
• Communicates problems effectively and in a timely manner with management and other SBA sections as needed
• Trains backup personnel to perform primary tasks and learns to backup other Accounting staff

05% - Performs other duties as assigned

5 years of related experience. A postsecondary degree may be used as an alternative for years of direct experience; 2 years for an associate’s degree, 4 years for a bachelor’s degree, 6 years for a master’s degree, 7 years for a professional degree, or 9 years for a doctoral degree.

Preference:
A bachelor’s degree from an accredited college or university in accounting, finance, business administration, or management information systems

Knowledge, Skills and Abilities:

• Skill in applying accounting principles and procedures to work assignments
• Skill in independently analyzing and solving reconciliation discrepancies
• Strong interpersonal and communications skills (both oral and written) and the ability to work effectively with others
• Ability to complete tasks in a timely manner
• Ability to follow established policies, procedures and processes
• Ability to learn new skills in a dynamic work environment
• Ability to manage workload independently and with minimal supervision
• Ability to perform accurately in a detail-oriented environment
• Ability to effectively apply computer skills and knowledge of accounting systems to work assignments
• Ability to independently solve problems through application of analysis and critical thinking

Hiring Range: $61,100 - $76,400

The State Board of Administration is an Equal Opportunity Employer

Successful completion of a pre-employment background check is a condition of employment with the State Board of Administration