Investment Accountant Investment Accountant …

Washington State Investment Board
in Olympia, WA, United States
Permanent, Full time
Be the first to apply
$80,340 - $90,340
Washington State Investment Board
in Olympia, WA, United States
Permanent, Full time
Be the first to apply
$80,340 - $90,340
The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $164 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 14,000 holdings across 87 countries on 6 continents and in 45 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk.

The WSIB manages investments for 17 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line by earning the lion’s share of money needed to cover state pension benefits.  

The Washington State Investment Board (WSIB) is seeking candidates for an Investment Accountant in the Investment Accounting and Administration Unit. This is a full-time position exempt from Civil Service provisions. This position focuses on investment accounting, trade settlements, and cash management functions. The position requires a complete understanding of critical unit duties such as daily cash movement, capital call and distribution processing, cash projections for trading support, stakeholder requests, and complex investment reconciliation and reporting processes.  This position is anticipated to perform work remotely during the COVID-19 pandemic, although the incumbent should be available for onsite work upon a phased reopening of the office.

The position 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 by ensuring the investment portfolio is accounted for in compliance with state law, applicable accounting standards, and industry best practice.

PRINCIPAL RESPONSIBILITIES:

  • Monitors and reconciles the daily cash positions between multiple sources utilizing complex accounting platforms. Ensures all cash movement is completed accurately and efficiently prior to deadlines.  
  • Analyzes and prepares monthly transactions and compiles stakeholder reporting while demonstrating a keen attention to detail and accuracy. 
  • 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, and prepares the reconciliation report, explaining and resolving all reconciled items.
  • Assists the management team in the development and review of the annual financial statements and plays a key role in the closing fiscal year end postings, reconciliations, and reporting. 
  • Monitors the group inbox for capital call and distribution notices from 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 custodial bank.
  • Prepares monthly journal vouchers for posting into AFRS.
  • Provides back-up to other principal tasks in the unit. 

MINIMUM QUALIFICATIONS:

  • Bachelor’s degree in accounting, finance, or closely allied field.
  • 2 years of relevant experience.
  • Intermediate to advanced Excel skills.

DESIRED QUALIFICATIONS:

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

The strongest candidate will possess:

  • Experience – Diverse experience in accounting and financial reporting with strong project management skills including complex accounting systems and processes, back office services of a custodian bank or institutional or other investor and designing and implementing process improvements within an accounting department.
  • Analytical Skills – Ability to comprehend and execute highly technical and complicated information and instructions, 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 and experience with complex financial processing systems and trade settlement platforms.

If your experience looks a little different from what we’ve identified and you think you can be successful, please address this in your cover letter.

TO APPLY PLEASE CLICK ON THE "APPLY" BUTTON AT THE TOP OF THE PAGE.

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.
  • A list of at least three professional references under the profile section. References will not be contacted without the written consent of the applicant but must be submitted at the time of application.

The initial screening will be based on the content and completeness of your application and the materials submitted. Failure to follow the application instructions may lead to disqualification. All information may be verified and documentation may be required.

Candidate evaluation will be ongoing and the WSIB may make a hiring decision at any time. It will be to the candidate’s advantage to submit materials as soon as possible.

BACKGROUND CHECK:

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.

At the WSIB...

You’ll experience true work-life balance and talented, passionate co-workers focused on maximizing the investment returns for the exclusive benefit of the beneficiaries. The WSIB is a respected institutional investor and thought leader in its industry and we value diverse perspectives and life experiences.

The WSIB is an equal opportunity employer. Women, racial and ethnic minorities, LGBTQ+, persons of disability, persons over 40 years of age, veterans, military spouses or people with military status, and people of all sexual orientations and gender identities are encouraged to apply. Persons needing this announcement in an alternative format or assistance in the application process please contact Human Resources at HR@sib.wa.gov.

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