Mutual Fund Accounting Officer

SUMMARY OF POSITION

The main objective of this job is to calculate Net Asset Value prices, prepare financial statements, reconcile banking records and liaise with internal/external persons to perform admin functions.

KEY JOB RESPONSIBILITIES

  • Post and approve the settlement of transactions related to income, expenses, trades, subscriptions, redemptions etc.
  • Process bonds purchased with interest and bonds sold into Summit Software.
  • Verify interest and expense accruals in Software to excel worksheets before finalizing same in Software.
  • Reconcile foreign brokerage accounts held with Guyana Americas Merchant Bank Inc. (GAMBI) and foreign Brokers.
  • Verify all local bank reconciliations prepared by Accounts Clerks for accuracy.
  • Post accurately, and in accordance with the Trust Deed, accounting records such as security positions, corporate actions and adjusting entries.
  • Enter and finalize prices for all securities from broker statements in Software.
  • Finalize Gain and Loss report on Investment portfolio (PVR report) in Software.
  • Preparation of tax accrual entries for Property tax and Corporation tax in excel worksheets and process in Software.
  • Submit weekly schedules as required of each class of each fund along with reports to Consultant for NAV verification due every Tuesday, or on Thursday if Monday is a national holiday.
  • Finalize Balance Sheets after NAV approval by consultant for recording of NAV prices in Software.
  • Preparation of Management reports which includes but are not limited to amalgamated financial statement of each fund, consolidated financial statement of the funds, consolidated gain/loss reports, pie charts and NAV graphs.
  • Provide approved NAV prices to publishers, Marketing department and GAMBI so that NAVs are advertised as scheduled.
  • Provide monthly graphs and pie charts to Marketing department for uploading on website.
  • Research new types of securities in fund portfolios for the purpose of ensuring proper accounting treatment (such as nature of distributions) and compliance with prospectus restrictions and limitations.
  • Write reports as required to Management on Fund activities and other related activities.
  • Prepare accounting schedules/worksheets in excel and balancing of same in the fund accounting system for the next NAV week.
  • Prepare schedules for distribution and liaising with GAMBI for effective delivery to unitholders.
  • Perform or arrange for the performance of the administrative services (other than investment advice and related portfolio activities) necessary to carry out the daily operation of the Funds. These include but are not limited to maintaining the accounts, books and records of the Fund, providing reports and other documents required by the Guyana Securities Council and providing the Funds with administrative office facilities and other administrative services.
  • Liaise with external parties in the opening of Foreign Brokerage accounts.
  • Prepare Manager’s cheque to the Guyana Revenue Authority for advance Corporation taxes.
  • Prepare letters of instructions for payment of expenses and delivery of same
  • Monitor incoming transactions from Bank of Guyana through the RTGS website.
  • Authorize each recorded transaction from RTGS system for processing by Kingston-Corporate services.
  • Monitor portal for incoming transactions to be processed in a timely manner.
  • Liaise with Information Technology Services Department for monthly profit and loss summaries for branches and the monthly trial balance.
  • Prepare monthly Income Statements and Balance Sheets for branches assigned using data obtained from ITSD on the 1st working day of every month.
  • Ensure Income Statements and Balance Sheets are balanced to the trial balance.
  • Assist in scheduling and conducting annual fixed asset verification visits to all branches.
  • Prepare reports on visits conducted at branches and follow up on outstanding queries.
  • Assist in the enhancement of operational procedures.
  • Preparing necessary documents for audit process.
  • Undertake all such other duties and responsibilities as may be assigned by Management from time to
    time.

KNOWLEDGE AND SKILLS REQUIREMENTS

Essential Education and Experience

  • Bachelor’s degree in Accounting, Business Administration, or a related field
  • At least one (1) year’s prior experience working as an Accounting Officer or a similar position in an accounting department

Desirable Qualification

  • A professional certificate in a related field will be an advantage

REMUNERATION

Only suitable applicants will be acknowledged

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