Investment Portfolio Accountant
Location: Philadelphia metro area, Pennsylvania, USA
Department: Finance & Accounting
Reports to: Controller
Salary: Competitive salary and benefits package based on qualifications and experience
Organization and Position
The John Templeton Foundation serves as a philanthropic catalyst for discoveries relating to the deepest and most perplexing questions facing humankind. We support research within disciplines ranging from astrophysics, evolutionary biology, and genetics, to philosophy, psychology, and economics. We seek to share and discuss discoveries related to life’s purpose and human happiness. In all cases, our goal is to spur curiosity and accelerate discovery. To catalyze such discoveries, we provide grants for independent academic research on a wide range of topics that relate to the Foundation’s mission.
Reporting to the Controller, the Foundation is seeking an Investment Portfolio Accountant to work as an integral part of the Finance and Accounting team. The Investment Portfolio Accountant will be responsible for maintaining the day-to-day activities of the investment portfolio, accumulating, compiling, and analyzing investment data and for ensuring proper accounting, reporting and analysis of the various components of the John Templeton Foundation and Subsidiaries (the Foundation) investment portfolios. In addition, the Investment Portfolio Accountant provides support to the Assistant Controller, Controller, and CFOO for financial reporting and serves as the primary contact to investment managers, custodian, and administrator.
Areas of Responsibility
- Review and maintain the reporting, accounting, and analysis of the various components of the investment portfolios for the Foundation including reconciling reports provided by the custodian and managers on a monthly basis and managing the day-to-day investment account matters and investment closing process.
- Obtain and review individual investment statements together with supporting documentation for full and fair representation of all investment activity on individual investment reports.
- Review financial statements and web-based reports provided by fund managers/custodians for timeliness, accuracy, useful presentation, and consistency.
- Reconcile investment reports to general ledger and trial balance for the Foundation and record associated investment entries.
- Reconcile and process payments for custody fee invoices and management and performance fee invoices submitted by Competition Managers.
- Review and coordinate work and interaction with various outside service providers such as investment advisors, custodian, investment managers and funds, and administrator. Ensure timely communication, accurate reporting of investment and all operational matters are addressed. Serve as the primary contact for the Custodian.
- Prepare Letters of Authorization (LOAs) and Investment Directives and coordinate review, approval, and confirmation by the CFOO and Controller.
- Responsible for Investment Manager and Fund onboarding and redemption activities including ensuring custodial accounts are opened, required forms and questionnaires are completed accurately and proper documentation is maintained.
- Monitor and provide confirmation that the investment managers comply with the Competition account rules. Research and review Investment Compliance violations and compiles compliance issues for review by the Controller and CFOO.
- Communicate with investment managers concerning compliance violations, management and/or performance fees and prepare quarterly compliance report.
- Oversee procedures, processes and reports relating to documenting the investment process. Assist the Controller with updating, researching, and revising the Investment Competition Process Document and other policies and process documents. Maintain the Investment Contact List and Investment Schematic for the Foundation.
- Coordinate the execution of investment corporate actions, class action settlements, and proxy voting for the Foundation. Assist with year-end reporting and preparation of financial statements and footnotes related to investments and prepare various investment schedules and supporting documentation for the annual audit. Coordinate the preparation of year-end audit investment confirmations for the Foundation.
- Assist the Controller in the coordination and review of the tax/book cost of all investments, maintained by the Administrator, and calculation of Foundation Value for the Foundation.
- Assist the Controller in coordination of other schedules necessary for the preparation of the tax return.
- Prepare data requested for FFOG meetings and external surveys.
- Assist the Controller in monitoring cash to redeem assets to satisfy operating needs.
- Assist with the preparation of various requests from the President, CFOO, Executive Committee and Investment Advisory Sub-committee.
- Other duties and projects, as assigned.
Required Qualifications, Skills, and Abilities
- Bachelor’s Degree.
- Minimum of 5 years of experience in accounting, with an emphasis in investment accounting preferred.
- High degree of professionalism and accountability.
- Clear and concise verbal and written communication skills.
- Understands the importance of reviewing priorities with manager for guidance and validation.
- Timely approach to problem-solving; initiates internal customer-centric environment.
- Participate in departmental effort of continual improvement.
- Experience at working both independently and in a team-oriented, collaborative environment.
- Strong personal interest in the Foundation’s mission.
We are committed to caring for our employees and their families through exceptional benefits. We pay for 100% of employee medical, dental and vision premiums, and generously contribute to family premiums. We provide life insurance, short-term disability coverage and long-term disability coverage at no cost to employees. We offer a 401(k)-retirement savings plan with an employer match and additional discretionary contributions. Paid time off includes generous vacation, sick, and personal days. The Foundation offers a unique donation program, enabling employees the ability to direct a $5,000 donation to a mission aligned organization of their choice, with no employee donation required.
The position will be based in the Foundation’s offices, located in West Conshohocken. Due to the coronavirus pandemic, team members may work in-office or remotely through 2021. The Foundation does plan to resume in-office operations in January 2022.
West Conshohocken, PA is a short drive (~15 miles) from Philadelphia and there is a nearby commuter train station with service into downtown Philadelphia. The offices are close to residential and commercial districts with multiple restaurants.