Assistant Director-Investment Accounting
About The Position
We’re looking for an Assistant Director - Investment Accounting to join our collaborative Investment Accounting team. This role is responsible for delivering and overseeing complex accounting and reporting for sophisticated investment strategies and asset classes. This highly visible position collaborates extensively with portfolio managers, investment operations, risk, compliance, tax, internal/external auditors, and technology teams to ensure robust reporting and control practices. People Leadership Foster an environment which embraces diversity and inclusion, emboldens change, provides clarity of vision and purpose, nurtures collaboration, promotes innovation and creativity, while producing results which are measured and recognized. Successfully operates within a global, matrixed organization, inspires team to embrace business evolution and helps them develop their skill sets through effective delegation and empowerment. This includes providing training, career development, performance measurement, performance management, and input into hiring, compensation administration and rewards and recognition activities. Investment Accounting & Financial Reporting Execute and review complex investment accounting activities, including sophisticated trade capture, income accruals, valuation, impairments, consolidations, and advanced hedging for diverse asset types including equities, fixed income, structured products, private placements, private asset funds, alternatives, and derivatives May ensure compliance with U.S. GAAP, client mandates, internal policies, and regulatory guidance Provide expert consultation to portfolio management teams on accounting implications of sophisticated investment strategies and transactions Own cash management proposals and vendor relationships Project Management & System Implementation Function as senior subject matter expert for accounting on key firmwide initiatives including new product launches, platform migrations, and system enhancements Lead collaboration with technology and data teams to develop comprehensive automated solutions for reporting efficiency and accuracy Direct UAT, business requirements gathering, and system functionality validation Compliance, Controls, and Risk Management Lead enhancement of internal control framework for investment accounting and reporting processes Design and execute sophisticated risk mitigation strategies, including documentation and remediation of control deficiencies Manage complex audit relationships and oversee comprehensive documentation preparation Cross-Functional Collaboration & Business Support Serve as senior technical advisor between accounting and other key teams Provide expert technical guidance on accounting impacts of complex investment vehicles, restructures, impairments, and valuation adjustments Lead complex analysis and scenario modeling for investment performance and risk assessment Continuous Improvement & Strategic Insight Evaluate and implement changes in accounting standards and regulations Drive process improvement initiatives and innovation within area of expertise Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!
Requirements
- Bachelor’s degree in Accounting, Finance, or related field; Master’s degree or advanced certification preferred
- Minimum of 8+ years of comprehensive accounting experience in asset management or financial services
- 4+ years people management experience
- Expert-level knowledge of investment products and strategies, including complex structured securities, private credit, hedge funds, and derivatives
- Extensive experience with investment accounting systems
- Advanced Excel skills and expert proficiency with reporting/analytics tools
- Outstanding technical and communication abilities
- Proven track record of driving process improvements and managing complex projects
- This position may require successful completion of a criminal background check
- Covered Associate – This position may be subject to SEC restrictions on personal political contributions.
Nice To Haves
- Advanced leadership skills and experience managing a team
- Investment accounting experience (specifically with PAM for Investment-PFI application) highly preferred
- Proven ability to collaborate with varying levels and handle subjectivity well in a fast-paced environment
Responsibilities
- Execute and review complex investment accounting activities, including sophisticated trade capture, income accruals, valuation, impairments, consolidations, and advanced hedging for diverse asset types including equities, fixed income, structured products, private placements, private asset funds, alternatives, and derivatives
- May ensure compliance with U.S. GAAP, client mandates, internal policies, and regulatory guidance
- Provide expert consultation to portfolio management teams on accounting implications of sophisticated investment strategies and transactions
- Own cash management proposals and vendor relationships
- Function as senior subject matter expert for accounting on key firmwide initiatives including new product launches, platform migrations, and system enhancements
- Lead collaboration with technology and data teams to develop comprehensive automated solutions for reporting efficiency and accuracy
- Direct UAT, business requirements gathering, and system functionality validation
- Lead enhancement of internal control framework for investment accounting and reporting processes
- Design and execute sophisticated risk mitigation strategies, including documentation and remediation of control deficiencies
- Manage complex audit relationships and oversee comprehensive documentation preparation
- Serve as senior technical advisor between accounting and other key teams
- Provide expert technical guidance on accounting impacts of complex investment vehicles, restructures, impairments, and valuation adjustments
- Lead complex analysis and scenario modeling for investment performance and risk assessment
- Evaluate and implement changes in accounting standards and regulations
- Drive process improvement initiatives and innovation within area of expertise
Benefits
- Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
- Pension Eligible
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
