We are looking for fund accountants on behalf of our client, Fidelity Investments. These
contract positions are located in Boston, Mass.
The Fund Accounting department performs the daily pricing and bookkeeping for retail and
institutional funds managed by Fidelity Investments. The primary function of this group is to
calculate the daily Net Asset Value (NAV), which is the price shareholders use to buy and sell
Fidelity's mutual funds. There are two distinct processes to calculate the NAV. The first
process is to update last night's NAV for any trading activity as well as any daily expenses,
shareholder purchases and redemptions, and income earned. The second process is updating the
NAV for the change in market value on the securities the fund holds. This is completed after
the stock, bond, and futures markets close for the day, usually 4 p.m. EST. The pricing
process occupies the late afternoon and is considered the busiest portion of the day.
Accounting Analysts for fixed income mutual funds also calculate a daily distribution and SEC
yield. The daily distribution (milrate) is the income payout a shareholder receives; it is
accrued daily and paid monthly. The SEC yield is a standard yield to maturity calculation
across all mutual fund companies that allow shareholders to compare funds.
Calculate, analyze, and report NAVs, yields and mil rates that are reported daily to clients
Review, research, and resolve bank balance variances and other exception items
Analyze and review monthly general ledger reconciliations and expense accruals and
Prepare, analyze and review on a semi annual and annual basis, financial statements,
compliance tests and audit packages.
Work with the fund reporting area and fund auditors to ensure these reports are completed
Provide daily support of business relationships with customer/suppliers such as the
shareholder service area, custodian banks, portfolio management, trading, and custody
operations on a fund specific basis
Bachelors Degree and a solid of accounting principals (Accounting I & II level knowledge)
18-24 months of experience
Demonstrated analytical skills
Ability to work in a team environment
Ability to work in a deadline-oriented environment
Organizational and time management skills
Flexibility to work overtime (as needed) to fulfill the job requirements
Veritude is a Fidelity Investments company and a leading provider of strategic human resources
— the talent, technology and tactics that growing organizations need to anticipate and adapt to
changes in the workplace.
Veritude offers its associates competitive market rates and an industry-leading benefits
package designed for flexibility and choice. It includes medical, dental, vision care and life
insurance options; 401(k) program participation; and company-paid short-term and long-term
disability insurance. For additional company information, please visit www.veritude.com.