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The Robert Toigo Foundation

Investment Accountant

Washington State Investment Board
Published
March 15, 2024
Location
Olympia, Washington
Category
Job Type
Salary
$80,340.00 - $99,000.00
City
Olympia
State
  • Washington

Description

This recruitment will remain open until filled. The WSIB may make a hiring decision at any time, and it is in the candidate’s best interest to apply early. 

The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $197.3 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 17,500 holdings across 87 countries on 6 continents and in 49 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk.
 
The WSIB manages investments for 18 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.  

To learn more about the organization and the work we do, please visit our website at sib.wa.gov and follow us on LinkedIn.  

The WSIB operates in a hybrid work environment and this position should anticipate 60% of their time in the office. 

The WSIB is seeking candidates for an Investment Accountant (IA) in the Investment Accounting and Administration Unit. This is a full-time position exempt from Civil Service rules. 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 investment reconciliation and reporting processes.  

The position also requires an ability to identify, correct, and communicate variances, and a thorough understanding of all 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.

PRINCIPAL RESPONSIBILITIES:

  • Enters, monitors, and reconciles the daily cash positions between multiple sources utilizing several accounting platforms. Ensures all cash movement and fund unitization 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 between various accounting systems and the custodial bank. Demonstrates a comprehensive understanding of various types of complex investment instruments and cash flows, prepares the reconciliation report while 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.   

  • Assists in coordinating trade processing with the investment division, custodian bank, brokers and other impacted parties and resolves settlement or other cash processing issues to ensure timely settlement.   

  • Accounts for various unitized products where a daily or monthly net asset value is computed. Reconciles data to subsidiary systems, reviews price movement and other activity in relationship to established metrics, researches and resolves discrepancies in a timely manner to meet daily or monthly deliverable timelines. 

  • Collaborates with peers to prepare daily cash projections used by investment staff and external managers for asset allocation and trading decisions. 

  • Prepares monthly journal vouchers for posting to state general ledger systems and reconciles the general ledger to supporting documentation. 

  • Provides back-up to other principal tasks in the unit.   

MINIMUM QUALIFICATIONS:  

  • Bachelor’s degree which includes 18 quarter or 12 semester hours of accounting, auditing, or budgeting.

  • 2 years of relevant accounting experience.  

  • Intermediate to advanced Excel skills.  

DESIRED QUALIFICATIONS:  

  • Investment accounting and/or treasury management experience.  

  • Knowledge of Governmental Accounting Principles, investment accounting, and operational best practices.  

  • Certified Public Accountant (CPA) certification (or candidate for).

THE STRONGEST APPLICANT WILL POSSESS:  

  • Experience – Diverse experience in accounting and financial reporting; preferably fund accounting experience at a custodian bank, institutional, or other investor. Experience utilizing complex accounting systems to independently perform complex processing and reconciliations to various accounting, cash management, and trading systems.    

  • Analytical and problem-solving skills – Demonstrated ability and experience interpreting and applying highly technical and complicated financial instructions and processes. Ability to identify and anticipate the potential downstream impacts interfacing with other accounting processes and various data and information platforms throughout the agency. A high degree of intellectual curiosity, creative problem-solving skills, and proactivity.  

  • Communications Skills – Communicate effectively, both orally and in writing, across all levels of the agency and external parties 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.  

  • Computer Skills – Intermediate to advanced Excel skills.  Experience with comprehensive financial processing systems and trade settlement platforms. 

If your experience or qualifications look different from what we have identified and you think you can be successful in this position, please address this in your cover letter.

SUPPLEMENTAL INFORMATION:

TO APPLY CLICK HERE - 

In addition to a complete profile, please include:

  • 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.

BACKGROUND CHECK:

Prior to a new hire, a background check including education verification, credit check, and 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, people of color and those representing diverse ethnicities, 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.

Employees may be eligible for the following benefits:

An overview of benefits of state employment and WSIB specifically can also be found on our website.

The WSIB is committed to the full inclusion of all qualified individuals. As part of this commitment, the WSIB will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@sib.wa.gov.

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