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Investment Accountant I

COMPANY OVERVIEW:

Since 1918, it has been TIAA's mission to serve, our ability to perform and the values we embrace that make us a different kind of financial services organization. We're dedicated to serving the financial needs of those in the academic, medical, cultural, governmental and research fields, and committed to helping make lifetime financial well-being possible for them.

By building a culture that allows all employees to contribute their unique talents and skills, we're able to provide our customers with fresh ideas and distinct perspectives to help them achieve their goals. We believe a diverse and inclusive workforce is one of our greatest strengths and a key measure of our success*.

For more information about TIAA, visit our website.

POSITION SUMMARY:

The Private Equity Accounting team at TIAA is responsible for the accounting and reporting for the private equity funds held in the Company's General Account. The Private Equity team works closely with other groups across the company as well as external business partners to ensure the accuracy of the information reported internally and externally related to the portfolio of funds.

KEY RESPONSIBILITIES AND DUTIES:

The Investment Accountant I position is responsible for the effective performance of the various duties and responsibilities described below.

*Ensure all Private Equity fund investment activity is recorded to the sub ledger and corporate ledger including contributions, distributions, valuations and foreign exchange gains and losses

*Review private equity fund financial statements and ensuring all activity ties to the sub ledger

*Review of daily cash and valuation activity across the private equity portfolios

*Determine income recognition for the funds based on SSAP 48

*Responsible for the review of audited financial statements of fund investments to determine if assets should be admitted for statutory reporting purposes as well as the review of footnote disclosures to determine if there is any new information that should be reported to management regarding major changes in accounting policies and/or valuations

*Ensure timely and accurate completion of both internal and external monthly and quarterly investment reporting

*Participate in system upgrades and business continuity exercises

*Partner across Investment Accounting & Reporting, Asset Management, Risk Management, Valuation Services, Internal Audit and Compliance to ensure proper accounting treatment for new investments, changes in strategy or portfolios and other events that impact the private equity portfolio

*Assist in the SOX and TIAA internal and external audits

*Stay abreast of changes in statutory accounting guidance to ensure compliance with statutory reporting requirements for the private equity fund portfolio

In addition, the individual will receive exposure to investment accounting and reporting on Statutory, GAAP, and Tax bases for General Account assets. The position may also partner across Investment Accounting & Reporting, Asset Management, Risk Management, Valuation Services, Internal Audit and Compliance to ensure proper accounting treatment for new investments, changes in strategy or portfolios and other events that impact the private equity portfolio.

Impact:

This position directly impacts the timeliness of the financial close process, the accurate reporting of the financial statements, and the preparation and reporting of various internal reports and external disclosures.

The role will also have impact to various business units both internal and external to the enterprise. Reports prepared by this position will be used in decision making by internal management, subject to audit by external auditors, and analyzed by external regulators.

Functional Knowledge:

*Understands basic accounting principles and financial statements

*Prior Statutory (SSAP) and Generally Accepted Accounting Principles (GAAP) knowledge is a plus, but must be able to effectively analyze, interpret, and apply relevant guidance, as necessary

*Possess the ability and drive to become a subject matter expert in the field of investment accounting and reporting

Business or Industry Expertise:

This position requires a basic understanding of the financial services industry, investment products, and financial reporting and analytics

Interactions / Interpersonal Skills:

*Networks across investment accounting groups, middle office, and internal control groups to ensure integrity of the investment related balances and disclosures

*Engages and participates in discussions with Accounting Policy, Risk Management, Compliance, Asset Management, Regulatory Reporting and Investment Accounting & Reporting

*Interacts with internal and external auditors. Requires fulfilling requests for information and walking them through the transactions and reports.

QUALIFICATIONS:


Required Skills

  • Bachelor's degree in accounting or finance required
  • Thorough analytical skills required
  • Ability to analyze financial data and transactions to ensure appropriate data integrity and reporting
  • Produces a work product that is clear, organized, accurate, and performed within often aggressive timelines
  • Superior problem solving and decision making skills with guidance from management
  • Ability to effectively perform research of complex accounting topics from various authoritative guidance sources
  • Superior communication skills, both oral and written
  • Able to effectively drive process improvement by looking at job responsibilities through a critical lens

Desired Skills

  • Investment accounting or private equity accounting preferred
  • Knowledge of investment securities including fixed income and equities
  • Previous experience with Front Invest, PeopleSoft, and/or Oracle Business Intelligence Tools
  • CPA or CPA eligible preferred



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This organization is an equal employment opportunity (EEO) employer, dedicated to maintaining a work environment free of bias, harassment, discrimination and retaliation. As an EEO employer, this organization expressly prohibits discrimination, harassment, and retaliation on the basis of race, creed, ethnicity, color, age, religion, sex, sex stereotype, pregnancy (including childbirth, breastfeeding or related medical conditions where applicable), sexual orientation, gender, gender identity, gender expression, transgender, marital status, national origin, ancestry, physical or mental disability, requesting a reasonable accommodation based on mental or physical disability, medical condition (as defined by applicable law), genetic history and information, citizenship status, military or veteran status, or any other status protected by federal, state, or local law or ordinance or regulation (collectively referred to here as 'protected characteristics').


*©2016 Teachers Insurance and Annuity Association of America (TIAA), 730 Third Avenue, New York, NY 10017


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