Investment Accountant

State of North Carolina

12d • $76,000 - $90,000 • Hybrid

About The Position

This position is responsible for analyzing, reviewing and reconciling information provided by the State’s custodian for pension investments. It is critical for the State that this job is performed in an accurate, timely and professional manner. The performance of this position has statewide implications for the cash and investments held by the State Treasurer’s Office. The ability to independently problem solve is required by this position. Resolving differences between reports from the same system or more often between different software applications requires extensive knowledge of the flow of information and the required inputs and outputs. The position has experienced increased scrutiny from the Office of State Auditor and other outside parties due to the financial magnitude of the transactions analyzed and recorded by the position. The position must be able to explain and defend the method of accounting for all transactions. It must also be able to indicate the controls in place which ensure the accuracy and validity of the information presented. This position reports to the Investment Accounting Supervisor. Duties in this position are considered essential to operations for the Department of State Treasurer. This may require mandatory, on site work during adverse or crisis situations. Essential duties are a condition of continued employment. This position is considered an essential position within FOD of the Department of State Treasurer, including but not limited to the following business processes: Vendor Payment Processing - Investments.

Requirements

• Monthly analysis of accounting transactions for the various portfolios. Requires thorough knowledge of investment accounting practices and the ability to interpret complex communications from multiple (140+) investment managers. Resolution of differences involves the ability to interpret and communicate facts supported by information provided by investment managers. Confirms asset valuation is consistent between custodian and investment managers and reflects any adjustments due to new capital fundings or distributions. Reconciles internal records to custodian’s accounting reporting system.
• Monthly reconciliation of internally managed STIF and LTIF (combined assets of approximately $80 billion) to custodial records. Differences are researched and communicated to higher levels.
• Monthly reconciliation of cash inflows and outflows as recorded by the custodian through month end transfer process. Absolute accuracy is required in order to maintain proper plan accounting ownership balances for the pension participants.
• Daily reconciliation of cash between Flexcube (internal general ledger) investment accounts and custodian. Differences must be researched and corrected. Judgment is required to determine the type of error and the necessary steps for resolution.
• Monthly reconciliation of STIF interest posting. Ensure amounts recorded by the Office of State Controller’s NCFS system and Flexcube are in sync. 100% accuracy is required to ensure participants across the state record proper balances.
• Monthly calculates residual interest due to General Fund.
• Weekly review of direct expense invoices.
• Prepares schedules for inclusion in statewide ACFR
• The minimum Education and Experience is a bachelor’s degree with 12 credit hours of accounting coursework; or equivalent combination of training and experience. All degrees must be received from appropriately accredited institutions.

Responsibilities

• Monitors and analyzes investment information to/from the Custodian
• Performs accounting functions for the operations of Investment Accounting
• Other duties as assigned

Benefits

• If you have student loans, becoming a state employee includes eligibility for the Public Service Loan Forgiveness Program.
• The NC Department of State Treasurer trusts our employees to be self-motivated and successful in hybrid/remote roles.
• The State of North Carolina offers excellent comprehensive benefits. Employees can participate in health insurance options, standard and supplemental retirement plans, and the NC Flex program (numerous high-quality, low-cost benefits on a pre-tax basis). Employees also receive paid vacation, sick, and community service leave. In addition, paid parental leave is available to eligible employees.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees