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Become A Mutual Fund Accountant

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Working As A Mutual Fund Accountant

  • Interacting With Computers
  • Processing Information
  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Organizing, Planning, and Prioritizing Work
  • Mostly Sitting

  • Repetitive

  • $82,670

    Average Salary

What Does A Mutual Fund Accountant Do At Raymond James

* Independently processes and reviews moderately complex issues, analyzing and interpreting data to determine appropriate corrective action.
* Answers moderately complex calls and questions on operational topics and account maintenance.
* Utilizes various intermediate reports and departmental databases as well as 3rd party applications.
* Retains ownership and follows through on calls received from internal/external customers and fund companies on issues or questions involving moderate operational topics and account maintenance.
* Provides inbox and functional support to less experienced associates.
* Heavily contributes to departmental projects, documentation, functional analysis and testing as needed.
* Assists with establishing and enforcing departmental policies and procedures.
* Monitors reports related to moderately complex maintenance issues; notifying advisors on actions concerning client positions.
* Understands client needs, identifies root causes of more complex problems, and implements pragmatic solutions.
* Assists in reviewing lower level associates work for accuracy and completeness.
* Assists associates with proper recordkeeping/note taking practices to ensure all advisor/client requests are completed in a timely fashion.
* Assists other areas of the department with various functions when volume is high and/or staffing levels are low
* Works with management team to analyze and report trends which will aide in streamlining processing procedures to help improve workflows without hindering service levels provided by the department.
* Leads departmental training as needed, as well as act as lead person in group for technical problem resolution.
* Actively participates in intermediate User Agreement Testing (UAT) for systems and new process implementation.
* Involved in all aspects of testing, including internal audit, troubleshooting and suggested solutions.
* Travels to the RJA Operating Center in Memphis, Tennessee if deemed necessary in the event of a BCP (Business Continuity Plan) situation involving the St Petersburg campus or vice versa

What Does A Mutual Fund Accountant Do At Kforce

Applies generally accepted accounting principles (GAAP) to prepare income and balance sheet statements and various other accounting statements and reports

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How To Become A Mutual Fund Accountant

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Mutual Fund Accountant jobs

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Mutual Fund Accountant Career Paths

Mutual Fund Accountant
Portfolio Accountant Finance Analyst Controller
Accounting Officer
7 Yearsyrs
Senior Associate Controller Finance Director
Assistant Treasurer
5 Yearsyrs
Business Analyst Senior Finance Analyst Controller
Controller, Vice President
9 Yearsyrs
Portfolio Accountant Accountant Controller
Controller/Business Manager
10 Yearsyrs
Business Analyst Finance Manager Controller
Controller/Director Of Finance
11 Yearsyrs
Staff Accountant Finance Analyst Accounting Manager
Corporate Accounting Manager
8 Yearsyrs
Accountant Senior Accountant Controller
Corporate Controller
12 Yearsyrs
Senior Finance Analyst Finance Manager Controller
Director Of Accounting & Finance
11 Yearsyrs
Senior Accountant Accounting Supervisor Accounting Manager
Division Controller
9 Yearsyrs
Senior Associate Audit Manager Assistant Controller
Divisional Controller
9 Yearsyrs
Accountant Accounting Manager Controller
Finance Controller
9 Yearsyrs
Fund Accountant Senior Accountant Senior Finance Analyst
Finance Manager
7 Yearsyrs
Service Representative Accounting Clerk Accountant Assistant
Management Accounts Manager
5 Yearsyrs
Senior Accountant Senior Finance Analyst
Manager, Finance Analysis
8 Yearsyrs
Finance Analyst Accounting Manager
Plant Controller
10 Yearsyrs
Finance Analyst Controller
Regional Controller
10 Yearsyrs
Staff Accountant Internal Auditor Senior Accountant
Reporting Manager
8 Yearsyrs
Fund Accountant Accountant
Senior Accountant
6 Yearsyrs
Senior Finance Analyst Cost Accounting Manager Accounting Manager
Senior Accounting Manager
10 Yearsyrs
Accounting Supervisor Assistant Controller Plant Controller
Unit Controller
8 Yearsyrs
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Mutual Fund Accountant Demographics

Gender

  • Male

    62.2%
  • Female

    35.5%
  • Unknown

    2.3%

Ethnicity

  • White

    76.8%
  • Asian

    11.0%
  • Hispanic or Latino

    8.9%
  • Unknown

    2.1%
  • Black or African American

    1.2%
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Languages Spoken

  • Spanish

    19.4%
  • French

    16.1%
  • Chinese

    9.7%
  • Mandarin

    8.1%
  • Russian

    6.5%
  • Cantonese

    6.5%
  • Greek

    4.8%
  • Swahili

    3.2%
  • Hindi

    3.2%
  • German

    3.2%
  • Polish

    3.2%
  • Arabic

    3.2%
  • Romanian

    1.6%
  • Korean

    1.6%
  • Hungarian

    1.6%
  • Malay

    1.6%
  • Bengali

    1.6%
  • Thai

    1.6%
  • Italian

    1.6%
  • Latvian

    1.6%
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Mutual Fund Accountant

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Mutual Fund Accountant Education

Mutual Fund Accountant

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Real Mutual Fund Accountant Salaries

Job Title Company Location Start Date Salary
Mutual Fund Accountant ICMA Retirement Corporation Washington, DC Sep 01, 2013 $53,414
Mutual Fund Accountant Pax World Management LLC Portsmouth, NH Sep 01, 2015 $51,027
Mutual Fund Accountant Driehaus Capital Management LLC Chicago, IL Sep 06, 2013 $50,000 -
$60,000
Mutual Fund Accountant ICMA Retirement Corporation Washington, DC Sep 01, 2013 $45,000
Mutual Fund Accountant ICMA Retirement Corporation Washington, DC Oct 01, 2013 $45,000

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Top Skills for A Mutual Fund Accountant

MonthlyFinancialStatementsIncomeSecuritiesPortfolioGroupsGeneralLedgerActivityEquityFundsCorporateActionsFundAccountantsDailyNETNasdaqBloombergCustodianBankJournalEntriesExpenseAccrualsFinancialReportsDailyPricingNETAssetValueNavsMonthlyReconciliationCapitalStockActivityTrialBalances

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Top Mutual Fund Accountant Skills

  1. Monthly Financial Statements
  2. Income Securities
  3. Portfolio Groups
You can check out examples of real life uses of top skills on resumes here:
  • Prepared weekly and monthly financial statements for Fund Management
  • Verified income, dividends and expenses for international, domestic and money market funds as well as fixed income securities.
  • Reconciled fund records to custodian, transfer agent and portfolio groups.
  • Monitored the General Ledger activity and reconciliation.
  • Processed daily activity on multiple Domestic fund types as well as International Equity funds.

Top Mutual Fund Accountant Employers

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