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Mutual Fund Administrator

Company: Alger
Location: New York
Posted on: September 25, 2022

Job Description:

The Mutual Fund Administrator (MFA) will provide daily oversight of the accounting for the mutual funds and SICAV advised by Fred Alger Management. The MFA provides oversight of the determination of the daily NAV, calculated by an outside vendor, and completes a series of daily, monthly, and other periodic tasks relating to the ongoing administration of mutual funds and SICAV. Due to the daily deadlines required of this job, the MFA will generally be assigned a work schedule ranging from 8:00 AM to 6:30 PM. Duties & Responsibilities:

  • Daily Responsibilities
    • Projecting daily cash available balances or overdrafts and assist daily with cash management.
    • Reviewing/Reconciling capital stock payable and receivable
    • Verifying/challenging prices of fund holdings including: manual priced securities, stale priced securities and fair valued securities
    • Ensuring proper reconciliation and cash settlement of derivatives.
    • Ensuring assets are appropriately segregated to avoid senior security violation
    • Reviewing and distributing daily NAV and Distribution information
    • Monthly Responsibilities
      • Reviewing/Reconciling trial balance accounts to supporting documentations, including: security cost, receivables, payables, capital shares outstanding, and gain/losses
      • Completing Industry Surveys
      • Calculating of standard fund performance
      • Reviewing/calculating and preparing monthly asset-based fund fees
      • Maintaining fund paid bill and expense budget analysis
      • Periodic Responsibilities
        • Preparing financial statements and quarterly holdings report, including from N-PORT and N-CSR
        • Preparing form N-CEN
        • Reviewing fund tax compliance including quarterly diversification, income test, distribution test and PFIC analysis
        • Preparing reports for the Valuation, Disclosure, and Liquidity Committee meetings
        • Preparing reports for inclusion in quarterly board meeting agendas
        • Maintenance of data and dissemination to various vendors
        • Performing other related tasks as assigned by the MFA's Manager. Qualifications:
          • Undergraduate Degree in Accounting, Finance or an equivalent combination of training and experience
          • 3 to 5 or more years of Mutual Fund Administrator experience
          • Ability to identify and resolve problems in a timely manner and gather and analyze data skillfully
          • Strong verbal and written communication skills
          • Ability to prioritize and work under deadline pressure required
          • Effective oral and written communication skills
          • Demonstrated analytical and problem-solving ability
          • High degree of self-motivation and proven ability to meet strict daily deadlines
          • Proven ability to work with a high degree of accuracy
          • Displays a professional attitude
          • Ability to effectively prioritize work and resolve routine problems Skills:
            • Proficiency in Microsoft Office products, particularly Excel
            • Knowledge of Bloomberg/ICE Alger is an entrepreneurial, privately owned firm which encourages and empowers its employees to be intellectually curious and continually improve. We seek individuals who can think independently yet work collaboratively, are motivated to be best in class, challenge the norm and have fun while doing it. Alger values its employees and rewards them accordingly. Alger provides ample training (see below) to employees and encourages employees to grow in their roles. This culture of continuous improvement is reflected by the fact that many Alger employees have worked at the firm for more than 10 years. We offer a comprehensive personal wellness program that provides resources to help you take charge of your physical well-being, encourage a healthy lifestyle and better manage health care costs. Alger also provides its employees with numerous ways to save and invest, including a comprehensive 401(k) with a generous employer match, financial planning tools, automatic investing plans and more. Underlying our financial wellness program is a strong educational platform. We're focused on helping employees more easily manage their work and personal lives. Our life management programs include paid time off, sick leave, paid medical leave, paid parental leave, health club membership reimbursement program and helpful employee assistance programs. To learn more about Alger, our philosophy and some of the people that drive our investment success please visit our Profiles in Success page -HERE . Alger is proud to be an E-Verify & Equal Opportunity Employer. It is Alger's policy to provide equal employment opportunity to all employees and applicants for employment. No qualified applicant or employee of Alger shall be discriminated against in employment on the basis of race, national origin, ancestry, religion, gender (including gender identity and gender expression), mental or physical disability, age, sex, sexual orientation, genetic information, military or veteran status, or any other status protected by law ("Protected Characteristic"). This Policy applies to all terms, conditions, and privileges of employment, including but not limited to, hiring, compensation, benefits, promotion, and termination. Note: This job description should not be construed to imply that these requirements are the exclusive standards of the position. Incumbents will follow any other instructions, and perform any other related duties, as may be required. The employer has the right to revise this job description at any time. This job description is not to be construed as a contract for employment. Fred Alger & Company, LLC is an Equal Opportunity Employer.

Keywords: Alger, New York , Mutual Fund Administrator, Accounting, Auditing , New York, New York

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