fund accountant

senior fund accountant

analyst

financial reporting analyst

supervisor

CIBC Mellon

Everyday is routine - run morning reports > 3pm cutoff for trade entry > run 3 pm reports > prices for the securities come in and we run end of day reports and price the mutual fund.

There may be some complications with a fund
* unusual transactions
* cash discrepancies
* big fluctuations in prices, income or expenses
I learned how to investigate thoroughly and use some of my basic understanding in finance from school and problem solve.
I also learned how to use systems such as Enterprise, Custody Management system and Bloomberg systems. I have also become more proficient with microsoft office, specifically excel and basic understanding of macros.

It's a fairly young demographic so the environment at work was more laid back. This is the enjoyable part of work in my opinion. To work with people you closely relate to definitely takes away  some of the stress. Management is minimal but supervisors are always within reach if needed.

Hardest part of the job is the need for little to no mistakes. Due to the fact that the accuracy of our work greatly affects the prices of the mutual fund which is sent to the client on a daily basis, the job can be very stressful and high pressure. Each fund has their own characteristics and it can sometimes be overwhelming to learn how to properly account for them. Once I have a complete understanding of the fund and how it functions, it can be quite enjoyable as well, as I feel like I have learned something and can effectively utilize it in future employment.

Typical day involves conducting fieldwork (walkthroughs and control testing plus follow-up meetings), issue validation and assisting Auditor-in-Charge (AIC) (typically Sr. Manager) with planning.

Pros: 
- Convenient proximity to Union Station
- Many walkable amenities nearby like restaurants, shops, walk-in clinic and Harbourfront
- Strong corporate social responsibility volunteerism (Together in Action) and great socials
- Nice coworkers and managers who are generally flexible and understanding (2 days/week on-site hybrid at the time of writing)
- Strong benefits
- Professional development opportunities

Cons:
- High workload that can peak at times especially towards year-end. Q1 and Q3 can be busy too.
- High turnover each year in which new hire tenures can last between 1-2.5 years on average.
- CEO hints at future increased office presence in alignment with other financial services institutions
- Sense of micromanagement due to deadline pressure
- Reputation for one of the lower paying institutions in industry

What is the best part of working at the company?
Extremely high turnover, so, opportunities will come when the market is good.

What is the most stressful part about working at the company?
Every new change of "improvement", the feedback loop is not welcome. Even when the feedback comes from measurable results by full compliance of the standard of procedures. 

What is the work environment and culture like at the company?
Nepotism was in plain sight a few years back. Not sure after the layoffs 

What is a typical day like for you at the company?
Booking the subscription and redemption to the fund, checking the fee accrual, running corporate actions projections, cash reconciliations of all currencies, reconciliations currency spots and/or forward against brokers, checking actual dividend accruals after fx rates are loaded, clearing the outstanding items from the diagnostic run. After markets close, after the prices are loaded, then checking for big movers if they are actual market movements or errors.

I administered more complex corporate and institutional accounts, providing daily reconciliation of cash balances and asset positions; investigated and followed-up on outstanding discrepancies to resolve issues; prepared accurate financial statements for client portfolios, according to predetermined time schedules, on a monthly, quarterly and annual basis; provided assistance to specialists to resolve problems, meet deadlines, and signed off on their statements and valuations. I participated in training seminars and courses to improve knowledge and performance. Management invoked incentives to increase productivity and to adhere to company values. Co-workers were friendly and helpful. The hardest part of the job was rotating accounts and saying goodbye to the clients. The most enjoyable part was working with the people there, and of course the clients.

A typical day involved meeting many deadlines for internal departments and external clients, delivering private and confidential information, with a lot of client interaction via email, phone and in-person.

I learned what it is to be a leader and to be held accountable and gain your trust of fellow co-workers while there.

Management was easy going yet firm at the same time, a good combination.

The hardest part of the job was managing the opinionated personalities on different teams.

The most enjoyable part of the job was the different people that i worked with over the years, and overcoming any daily challenges that arose.

Expected to support dual teams where managers do not communicate with each other on an individual's workload which results in extra hours. In our dept, 5-6 people have left in a span of 1.5 years. Big transitions happening simultaneously and a new employee is expected to learn things themselves. If you are good at work, you will be swamped and a senior colleague would be enjoying with less work and responsibility. Some managers working since 15 years badger young individuals who demand salary increase with their experience in the same position for over a year. They talk about employees behind their back to other employees. Female managers are really terrible here. Choose wisely. No work life balance.

There were some fun quarterly events , which eventually were discontinued by new management.Staff Turnover at Senior and the Executive Levels were very high.Culture and Business Models were changed very frequently. Staff were very frustrated, lots of great talented people left. 
Very difficult to progress through some divisions as they were always roadblocks from Managers who did not want their staff to leave.
Lots of Emails from unhappy clients,and street brokers, following up on queries which Management never answered or calmly brushed aside.Too much pressure on the Frontline Staff to battle the storms and put out the fires.

Turn on your PC, Unlock your desk drawers sort out your work for the day by prioritize what needs to be curior sent by regular mail or place at counter for pick-up by client. Prepare shares for broker to sell.

I learn time management skills.

Meet with management to discuss transaction or to have documents endorse.

All co-workers in group get along beautifully and work well together.

Hardest part of the job is lifting boxes to do research when required.

Most enjoyable part of the job is having customers well pleased with the work you have done on their behalf.

Repetitive, lots of overtime hours with no pay. Not your typical 9 to 5 job. No work life balance.
Senior Fund Accountant is a client-facing role within Private Capital Services and will be responsible for the oversight of Net Asset Value (NAV) calculation for clients whilst ensuring oversight requirements under Luxembourg law and market best practice in relation to Fund Accounting monitoring. You will be responsible to oversee transfer agent activities as well as maintaining the register of funds.

Long days and no care about your actual life. Very dog eat dog world. Saw the top CEO's act worse than lower management ... Which should be back there way. I saw the people at the lowest work the hardest and the ones at top work the less since they know their job is concrete. Not a fan of the corporate ladder. It's a big game of snakes and ladders and I don't deal with games in life.

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