We are looking for fund accountants on behalf of our client, Fidelity Investments.  These
contract positions are located in Boston, Mass. 

 

Function Overview

 

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.  

 

Major Responsibilities

 

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
disbursements. 
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
accurately 
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
 

Requirements

 

Bachelors Degree and a solid of accounting principals (Accounting I & II level knowledge) 
18-24 months of experience  
Excel skills 
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.