Denver Staffing Agency - Fund Accounting Specialist Pilot Program Tested
|Jennifer - Fund Accounting Specialist - Investment / Securities Accounting|
- 05/23/2013 |
- 1192 Views
Generally fund accounting is an accounting system used by Denver, Colorado non-profit organizations and governments because the emphasis is on accountability rather than profitability. However, the label, "fund accounting", has also been applied to: 1. investment accounting, 2. portfolio accounting or 3. securities accounting
– all synonyms describing the process of accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual fund or hedge fund.
Denver Public Accounting Firm Executes Fund/Investment Accounting for Securities Client Audits
J. Kent’s client, a national public accounting firm and member of a global alliance of 250+ independent firms utilizes the fund accounting systems extensively due to its specialization in the securities industry.
Our client, recognized as a leader by its peers, and known for its collaborative team environment provides fund accounting expertise for many of its clients including: securities broker-dealers, hedge funds, commodity funds, private equity funds, registered investment advisors and other investment entities, both onshore and offshore. And, because of its secrurities expertise and knowledge, our client is also approved by the Public Company Accounting Oversight Board (PCAOB) to conduct audits of SEC registrants and securities broker-dealers.
Director of Audit Creates Pilot Program and New Position for Fund Accounting Specialist
With ever increasing business demands and engagement deadlines, the firm’s partners approved the creation of a new position, Fund Accounting Specialist for their Denver, Colorado office. The Audit Director was thrilled with this news, and so was his investment partnership and hedge fund audit team. The Fund Accounting Specialist would be responsible for reviewing and executing activities relating to the fund accounting process leaving more time for the auditors to complete the complicated engagements with direct focus. The new position would execute and support such accounting activities as:
- Closing sub-ledger (AP and AR)
- Preparing and posting Journal Entries including monthly accruals
- Reconciling GL accounts
- Working in the trial balance
- Reconciliation monthly bank statements and intercompany reconciliation
- Preparing monthly roll up of Investment (fund to investment & investment to investor)
- Reviewing monthly supporting reports including supporting schedule
- Cash Management (capital account statements, capital calls and distribution)
- Statutory and regulatory reporting as needed
- Coordinate with the client on final deliverables at auditors direction
Mathematics Major Identified for Newly Created Fund Accounting Specialist Job
Jennifer with two degrees, a BS in Applied Mathematics and a BA in Art History form Virginia Tech was identified by one of J. Kent’s Recruiters as the perfect fit for the position. New to Denver because of her husband’s job relocation, Jennifer was on the hunt to find a Temporary, Temp-to-Hire or Direct Hire job, and a company that would enable her to utilize both her hard and soft skills.
After the Direct Hire position was thoroughly reviewed with Jennifer by J. Kent’s Denver Recruiter, she quickly recognized that this position had just the right amount of accounting challenges and organizational responsibilities she was seeking. However, it was also noted that the position would give Jennifer the opportunity to fulfill her desire to work directly with clients, and become part of a dynamic, hard-working professional team. Jennifer is engaging, thoughtful, career oriented and a dedicated worker that brought to the interview:
- 2 degrees (BS in Applied Mathematics, BA in Art History)
- 5 years of corporate experience in the insurance and printing industries
- Property & Casualty and Life & Health Insurance Licenses
- Expert Excel skills with high proficiency in all MS Office applications
- And, a winning presentation and personality
Fund Accounting Specialist Pilot Program Successful
The newly created position and pilot program has proven to be very effective for our public accounting client. The position has been reviewed by the partners, directors and the audit team and deemed extremely successful. The success of the program has caused our client to expand the support to its audit team by approving another Fund Accounting Specialist position. J. Kent Staffing is currently working on this search.