Investment Accounting Manager

Department/Agency of position: 
Washington State Investment Board
Location of position: 
Olympia, WA
$97,200 – $128,000
Date Posted: 
Tuesday, December 11, 2018
Closing Date: 
Monday, January 7, 2019
Job Description: 

The Washington State Investment Board (WSIB) is seeking a skilled professional to serve as the Investment Accounting Manager. This is a full time, exempt position reporting to the Investment and Financial Services Director. The position is part of a co-management team that works collaboratively with peers to allow opportunities for cross training and growth at all levels within the team.

The incumbent oversees a specialized and highly technical accounting unit, interprets and implements investment accounting policies and makes recommendations for policy changes. This position assists in the development and implementation of major program decisions and in designing methods to update the investment accounting functions and business operations.

PRINCIPAL RESPONSIBILITIES: This position is directly responsible for the operations and results of the Investment Accounting (IA) Unit. The incumbent ensures the effective and efficient functions of all operational procedures, which include daily cash processing and cash management activities, custodian bank accounting, monthly reconciliations between several complex accounting systems, pricing and net asset value/per share calculations of comingled investment portfolios, financial reporting, and management of portfolio verification systems.

Commingled Fund Accounting: Oversees the pricing, unitization, and income allocation for daily and monthly valued investment products which include the Retirement Funds, Permanent Funds, and the internally managed Fixed Income Portfolios. Reviews and approves: • Income distributions to Permanent Fund beneficiaries. • Daily cash transfers between the State Treasurer, record keepers, and custodian bank for stakeholder transactions. • Daily and monthly unitization reports, net asset value computations, share price computations, and reconciliations. • Income allocations between individual retirement plans within the Commingled Trust Fund (CTF).

Reconciliations: Reviews and approves monthly reconciliations between the portfolio verification system, external investment managers, AFRS, and the Master Custodian for all funds, and assures timely disposition of reconciling items by IA staff. Approves journal vouchers for entry to the state’s general ledger system. Responsible for agency cash management functions, which include daily cash reconciliations and confirmation between the custodian bank and portfolio verification system.

Supervision and Reporting: • Manages a staff of four accounting professionals. • Manages the annual audited financial statement preparation and serves as agency liaison for the annual external audit. • Oversees the statutory reporting and return calculations for the LNI portfolio. • Manages all external and internal stakeholder reporting. • Contract manager for the portfolio verification system vendor. • Participates in special unit and agency-wide projects and initiatives. • Serves as main back up to the Portfolio Administration Manager.

MINIMUM QUALIFICATIONS: • Bachelor’s degree in accounting, finance, or related field. • 5 years of experience in accounting, investment accounting, trade settlement, or closely related field. • 3 years of supervisory experience.

DESIRED QUALIFICATIONS: • Certified Public Accountant. • Experience with back office operations of an investment management firm, institutional investor, corporate pension plan, custodian bank, etc. • Knowledge of Governmental Accounting Standards and Statutory

Accounting Standards.

THE STRONGEST CANDIDATE WILL POSSESS: • Experience: Diverse experience in accounting and financial reporting with strong project management skills. Experience with complex accounting systems and processes. Experience designing and implementing process improvements within an accounting department. • Analytical Skills: The ability to comprehend and execute highly technical and complicated information and instructions. Ability to understand the impact of transactions that interface with various systems and processes outside the accounting unit. • Communications Skills: Communicate effectively, both orally and in writing, across all levels of the agency and various external entities. • Collaboration: The ability to co-lead and manage processes and teams for the purposes of cross training, skill development, strategic initiative implementation, and unit coverage. • Leadership: The ability to effectively supervise, develop, and train staff. • Computer Skills – Intermediate to advanced Excel skills. Experience with complex financial processing systems and trade settlement platforms.

TO APPLY PLEASE VISIT – WWW. CAREERS.WA. GOV Please complete the application profile, and submit the following documents: • A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages. • A current chronological resume.

Incomplete applications will not be considered. Candidate evaluation will be ongoing and the WSIB may make a hiring decision at any time.

ABOUT WSIB: The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $130 billion in assets under management. WSIB’s globally diversified portfolios are comprised of more than 15,000 securities across 84 countries on 6 continents and in 46 currencies. The WSIB’s central mandate is to maximize return at a prudent level of risk.

WHY WORK AT WSIB? The WSIB is a respected institutional investor and thought leader in its industry. A solid reputation and large scale offer the opportunity to invest in the world’s leading investors on behalf of more than 500,000 public employee beneficiaries.

We are located in Olympia, on the southernmost tip of Puget Sound. Olympians enjoy a quality of life enhanced by natural beauty and a mild year-round climate that promotes outdoor activities such as skiing, sailing, fishing, hiking, kayaking, and mountain climbing. Its close proximity to Seattle provides a variety of cultural and culinary experiences, while its residents enjoy a lower cost of living. Within a two-hour drive from Olympia are the Pacific Ocean, the Cascade and Olympic Mountains, and Seattle.


—Opportunities for professional development, training, growth and advancement. — Tuition reimbursement. — A comprehensive benefits package including health, dental, life and long-term disability insurance; vacation, sick, military and civil leave; and 11 paid holidays per year. — Membership in the Public Employees’ Retirement System. — Opportunities to participate in the Deferred Compensation and Dependent Care Assistance Programs.

SPECIAL NOTE: Prior to a new hire, a background check including criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.

Due to the time sensitivity of these responsibilities, the incumbent may be required to work on state and federal holidays, as well as a varied work schedule as deemed appropriate due to workload issues.

The WSIB is an equal opportunity employer. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, and disabled and Vietnam era veterans are encouraged to apply. Persons of disability needing assistance in the application process, or those needing this announcement in an alternative format, please contact Mary Hougan, Human Resources Consultant at (360) 956-4716 or via email to