WHO WE ARE
The Texas Permanent School Fund (PSF) is a constitutionally established education endowment with a 150+ year history of supporting Texas public schools. Today, PSF manages more than $57 billion in assets and invests with a long-term perspective to generate sustainable funding for Texas K–12 education. Through a diversified investment platform, along with strong operational, legal, financial, and governance functions, PSF serves as a careful steward of public capital. Our work helps secure billions of dollars in school district bonds and supports more than 5 million students across 1,000+ school districts statewide. Guided by principles of fiduciary responsibility, integrity, and service to Texans, PSF plays an enduring role in strengthening public education and investing in Texas’s future.
JOB SUMMARY
You are responsible for overseeing advanced reconciliation processes, interpreting and implementing governmental and investment accounting standards, and ensuring the accuracy and integrity of financial reporting for the fund’s investment activities. You report to the Investment Accounting Manager and provide technical guidance to team members, support audits, and contribute to process improvements to maintain compliance with regulatory requirements and internal controls. This role requires advanced technical expertise, strong analytical skills, and the ability to tailor communication of complex accounting concepts to stakeholders with diverse levels of accounting expertise.
ROLES AND RESPONSIBILITIES
Lead financial reconciliation: Lead and perform complex reconciliations of investment accounts, general ledger, and cash positions, including daily, monthly, annual and ad hoc reconciliations. Investigate and resolve reconciling differences in a timely manner. Assist with daily cash projections ensuring cash availability for settlement of trades while maximizing return on idle cash; prepare and process cash transfer instructions for delivery to custodian and for loading into the trade order system; monitor, record, and reconcile interest income.
Accounting policy research and implementation: Interpret, implement, and ensure compliance with Governmental Accounting Standards Board (GASB), Financial Accounting Standards Board (FASB), and Generally Accepted Accounting Principles (GAAP) as they apply to public investment funds. Serve as a subject matter expert on accounting standards, providing research and recommendations on new pronouncements and regulatory changes.
Financial statement and report preparation: Prepare and review annual and interim financial statements and management report schedules related to investment activity. Assist with the Annual Comprehensive Financial Report (ACFR), including compiling supporting documentation, validating reported amounts, and ensuring disclosures reflect applicable accounting standards.
Collaboration and Communication: Provide technical guidance and support to team members on accounting standards and reconciliation processes. Perform peer reviews and quality checks of reconciliation and financial-reporting work prepared by team members to ensure accuracy and consistency. Collaborate with internal and external auditors to facilitate investment-related audits and ensure compliance with accounting principles, industry standards, and regulatory guidelines. Communicate effectively with investment staff, legal counsel, and other stakeholders to address accounting and reporting matters.
Special projects as needed: This may include, but is not limited to, participation in finance-related initiatives that support organizational goals, collaboration with cross-functional teams to implement best practices and enhance operational efficiency, and/or providing analytical support and reporting for projects tied to the corporation’s strategic objectives.
REQUIRED MINIMUM QUALIFICATIONS
Education
- Graduation from an accredited four-year college or university with 20-30 hours of upper-level accounting coursework.
Experience
- Minimum of five (5) years’ experience in accounting, with a strong emphasis on reconciliations, general ledger, and financial reporting.
- Demonstrated experience interpreting and applying Governmental Accounting Standards Board (GASB) or Financial Accounting Standards Board (FASB) Generally Accepted Accounting Principles (GAAP).
LICENSE
- Texas Certified Public Accountant (CPA) is required.
Substitution for License
- 20-30 hours of accounting coursework and 10 years’ experience in accounting, with a strong emphasis on reconciliations, general ledger, and financial reporting.
PREFERRED QUALIFICATIONS
- Minimum of three (3) years’ experience in government fund accounting.
- Minimum of two (2) years’ experience in investment accounting.
- Experience implementing GASB pronouncements and/or Texas Comptroller financial reporting policies.
- Experience using State of Texas software packages such as the PeopleSoft-based Centralized Accounting and Payroll/Personnel System (CAPPS), the Uniform Statewide Accounting System (USAS), and Texas Identification Number System (TINS).
KNOWLEDGE/SKILLS/ABILITIES
- Knowledge of investment and governmental accounting and reporting, including GASB and FASB standards for public investment funds.
- Knowledge of treasury cash management principles.
- Knowledge of GAAP and procedures for maintaining accounting records and automated accounting systems.
- Knowledge of securities accounting, market operations, and market research.
- Knowledge of macroeconomics, statistical concepts, and methods applied to research and financial analysis
- Advanced proficiency in Microsoft Excel (pivot tables, advanced formulas), Word, and PowerPoint
- Experience with ERP/accounting systems (e.g., PeopleSoft CAPPS, USAS) and financial databases.
- Strong customer-service mindset and ability to maintain professional relationships.
PHYSICAL REQUIREMENTS
- Ability to sit and work at a desk and computer for extended periods. Work requires mobility around the worksite routinely to carry out duties. This position may periodically require the ability to lift, carry, move and/or set up equipment and materials that weigh up to 10 pounds.
TRAVEL/SCHEDULE REQUIREMENTS
- Domestic travel up to 5%
- Hybrid office/telework schedule, dependent on business needs.
- Ability to work/travel outside of normal business hours.
KEY BENEFITS
Texas PSF’s status as a special purpose governmental corporation allows for a unique opportunity to provide state employee benefits along with other company perks. Our extensive state employee benefits package includes retirement benefits, employer‑paid health and basic life insurance, generous paid holidays, and multiple retirement options—along with longevity pay and a range of optional insurance plans. You can find additional benefits details at www.ers.texas.gov. Employees also enjoy various in-house training and professional development opportunities, free downtown parking, flexible work arrangements, and an office location near the Moody Amphitheater at Waterloo Park.