A cover letter is required for consideration for this position and should be attached as the first page of your resume. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.
We are seeking a Senior Investment Accountant to join our team in the Investment Accounting area of Financial Operations, which is responsible for the integrity of the University's financial records and accounting controls over custody, reporting, transaction processing, and valuation of the University’s investment accounts, portfolios, and pools.
The University’s investment program, which totals approximately $14 billion, includes separately managed accounts, commingled funds/hedge funds and private limited partnerships, invested across multiple asset classes such as global equities, fixed income, high yield and distressed debt, venture capital, private equity, energy, real estate and absolute return strategies.
Please note: We have posted this position as an Investment Accountant Senior but could opt to underfill at an Investment Accountant Intermediate level. The selected candidate will be offered the position at the senior or intermediate level based on their overall qualifications and experience in areas directly relevant to the responsibilities of the position.
Examine quarterly/monthly capital account statements (“CAS”) received from the general partner/absolute return fund and reconcile amounts with custodian bank
Review funding commitments reflected on CAS reports and related partnership agreements and reconcile to the university’s remaining commitment files
Prepare monthly reports to support the reconciliation of internal investment pools, determination of NAVs, and changes in net assets and cash flows
Review audited annual reports for limited partnership and hedge fund investments and assess existence and valuation risks
Analyze limited partnerships and absolute return funds activity and assist in assessment of operational risk of investment funds
Verify accuracy of performance benchmarks maintained by the custodial bank
Prepare detailed reconciliations and supporting schedules for investment related items in the university’s financial statements and assist with other audit deliverables as requested
Monitor and analyze the use of derivative instruments in the university’s investment portfolios such as futures, forward foreign exchange contracts and interest rate swaps; maintain detailed records of notional values, positions, fair values and changes in fair value for purposes of financial statement disclosure
Support tax reporting for deferred gift arrangements by assisting in preparation of tax worksheets for each of the university’s more than 150 charitable remainder trusts, which are used by the university’s tax department to prepare IRS Form 5227 returns
Assist with the research and implementation of new accounting pronouncements and governmental regulatory filings as they apply to the university’s cash and investments
Special projects, including ad-hoc reports and analysis
Bachelor's degree in Accounting or Finance
More than five years of experience in accounting or finance and a strong knowledge of generally accepted accounting principles, including at least two years of experience in investment accounting, with exposure to large, complex investment portfolios
Excellent analytical organizational and problem solving skills, strong attention to detail and ability to handle multiple tasks with varied deadlines
Effective communicator, with strong writing, speaking and interpersonal skills
Proven ability to work collaboratively with colleagues and stakeholders across all levels of a large, complex organization and contribute to a positive work environment
Master’s degree and/or CPA
Experience working with complex financial and administrative information systems (Oracle PeopleSoft helpful), database query and spreadsheet tools
This position may be underfilled at a lower classification depending on the qualifications of the selected candidate.
The University of Michigan, with an operating budget of $8 billion, is a leader in higher education. The Finance Division reports to the Executive Vice President and Chief Financial Officer and partners with the University community to provide the financial infrastructure essential to being one of the world's greatest public universities. We are comprised of several units including Treasury, Financial Operations, Procurement Services and Financial Analysis. Comprised of several distinct divisions, we share a common set of values and goals. For more information about the Finance Division, please go to www.finance.umich.edu.
We offer an extensive total compensation package including competitive pay, two-for-one retirement contribution, and a variety of health insurance options.
Job openings are posted for a minimum of seven calendar days. This job may be removed from posting boards and filled anytime after the minimum posting period has ended.
The University of Michigan is an equal opportunity/affirmative action employer.
Internal Number: 165037
About University of Michigan - Ann Arbor
A great university is made so by its faculty and staff, and Michigan is recognized as one of the best universities to work for in the country. The Michigan culture is known for engaging faculty and staff in all facets of the university to create a workplace that is vibrant and stimulating.For two consecutive years, the Chronicle of Higher Education has placed U-M in its "Great Colleges to Work For" survey. In particular, the university earns high marks for strong relations between faculty and administrators, a collaborative system of governance, strong pay and benefits, and a healthy work/life balance.