Investment Accountant

  • $78,000 - $83,000
  • Olympia, WA, USA
  • Permanent, Full time
  • Washington State Investment Board
  • 17 May 19

The Washington State Investment Board (WSIB) is seeking candidates for an Investment Accountant (IA) in the Investment and Financial Services Unit. This is a full time position exempt from Civil Service provisions. This position focuses on private market investments, trade settlements, and cash management functions. The position requires a complete understanding of critical unit duties such as capital call and distribution processing, foreign exchange trading, cash projections for trading support, stakeholder requests, and complex investment reconciliation and reporting processes.

The position also requires an ability to identify, correct, and communicate errors, and a thorough understanding of all complex processing and trade systems impacted.  The duties of this position have a direct impact on the daily investment decisions made by investment staff and external managers.  The position supports the agency’s mission to invest with integrity, prudence, and skill to meet the financial objectives of those we serve, ensuring the investment portfolio is accounted for in compliance with state law, applicable accounting standards, and industry best practice.

• Coordinates all trading activity with the Fixed Income unit, custodian bank middle office, and brokers. Resolves all trade settlement related issues. 
• Reconciles daily between the agency trading platform and the accounting Book of Record.  Works with the senior investment accountants and managers to resolve all issues.
• Prepares monthly reconciliations of par value, market value and income accruals, including the most complex WSIB funds, between the Investment Accounting system and the Custodial Bank. Utilizing a complete understanding of various types of complicated investment instruments and cash flows, including foreign securities, mortgages, CMO's and asset-backed securities, prepares reconciliation report, explaining and resolving all reconciled items.
• Determines accuracy of the net security lending income. This includes detailed security level review, analysis, and testing of documentation. Prepares a report for review by the IFS managers. Recommends procedural and control improvements to management.
• Monitors group inbox for capital call and distribution notices from our partners.  Verifies cash received at custody and collaborates with peers to input entries into our electronic cash flow module system.
• Collaborates with peers to prepare the daily cash projections used by investment staff and external managers for asset allocation and trading decisions.
• Prepares daily and monthly tickets to move stakeholder cash to/from the treasury and our custodial bank.
• Prepares monthly journal vouchers for posting into AFRS.
• Provides back-up to other principal tasks in the unit. 

• Bachelor’s degree which includes 18 quarter or 12 semester hours of accounting, auditing, or budgeting.
• 2 years of relevant experience.
• Intermediate to advanced Excel skills.

• Investment accounting experience.
• Knowledge of Governmental Accounting Principles, investment accounting practices and operational guidelines, and investment operations best practices.
• Professional accounting experience.
• Cash management experience.

The strongest candidates will possess:
• Experience – Diverse experience in accounting and financial reporting with strong project management skills.  Experience with complex accounting systems and processes.  Experience designing and implementing process improvements within an accounting department.  Experience with back office services of a custodian bank or institutional or other investor.
• Analytical Skills – Ability to comprehend and execute highly technical and complicated information and instructions.  Ability to understand the impact of transactions that interface with various systems and processes outside the unit.
• Communications Skills – Communicate effectively, both orally and in writing, across all levels of the agency and external entities such as consultants, stakeholders, third party record keepers, custodian bank, and external investment managers.
• Collaboration – Ability to collaborate across functional areas and teams for the purposes of cross training, skill development, and unit coverage.
• Leadership – Ability to effectively review and monitor staff work and train staff on complex investment processes.
• Computer Skills – Intermediate to advanced Excel skills.  Experience with complex financial processing systems and trade settlement platforms.

In addition to a complete profile, please attach:
 A cover letter specifying why this position is of interest to you, and how you meet the qualifications listed above.  This letter should be no more than two pages.
 A current chronological resume.

Prior to a new hire, a background check including criminal record history will be conducted.  Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.

Mary Hougan | | 360-956-4716