Portfolio Accounting Associate
Bridgewater Associates is a premier asset management firm, focused on delivering unique insight and partnership for the most sophisticated global institutional investors. Our investment process is driven by a tireless pursuit to understand how the world's markets and economies work - using cutting edge technology to validate and execute on timeless and universal investment principles.
Powering this engine requires a diverse community of investment professionals, technologists, managers and other specialists. The firm attracts independent thinkers who share a commitment to achieving excellence in their respective lines of work and operating in our unique culture. Bridgewater was founded in 1975 and its principal offices are located in Westport, CT - an hour outside New York City. Our Culture
Bridgewater aspires to be an idea meritocracy in which radical transparency and believability-weighted decision-making allow the best ideas to prevail. Feedback is frequent and flows in all directions, meetings are recorded and shared, mistake-based learning is encouraged, and everyone is expected to uphold high standards of excellence and personal accountability.
Diversity and Inclusion (D&I) is central to that mission - to develop the deepest understanding of markets and economies we must find, retain, and grow the best talent across gender identity, race and ethnicity, sexual orientation, gained experiences, and more. To unlock the power of that diversity also requires an inclusive environment. In pursuit of this vision, Bridgewater has a full-time D&I team reporting to our CEO, vibrant affinity networks, and several companywide initiatives to drive progress. Ask your Bridgewater recruiter to learn more. About the Back-Office Department
The Back-Office Department is an integral part of the post-trade flow at Bridgewater, managing and continually enhancing many of the company's mission-critical processes to facilitate the investment engine. The Back-Office is responsible for processing trades, ensuring that portfolios are properly valued, measuring and monitoring market and counterparty exposures, and managing the information flow with the Investment Engine (Account Management and Trading) and Client Service groups. It is also primarily responsible for maintaining Bridgewater's proprietary portfolio accounting system. We also partner closely with the Investment Engine and Client Services groups to implement initiatives that both enhance existing capabilities and bring on new functionality, in support of the trade lifecycle and portfolio valuation, as well as the collateral management and reporting partnerships between external providers and internal processes. About Your Role
We are currently looking to hire a Portfolio Accounting Associate to join the Accounting QC team. New associates have the opportunity to be an integral part of evolution and transformation efforts in the Back-Office Department and participate in personal and professional growth with an industry leader.
The ideal candidate will have fund administration experience at an asset manager, fund administrator in accounting or operations or has experience auditing funds. They should have a good understanding of operational and accounting concepts and general process flow. Candidates should also have exposure to vendor and/or counterparty interaction (preferably having worked in this capacity) and should be effective at managing relationships as they will be responsible for day to day oversight of outsourcers. Candidates must be comfortable navigating change and ambiguity (i.e. engaging on department goals, and working to evolve outsourcing model and controls, assessing risk). In addition to processing the daily business, the Portfolio Accounting Associate must be highly process-improvement orientated, should demonstrate the willingness and ability to challenge the status quo, to examine day-to-day operations critically, and to identify key issues, risks, and opportunities for improvement. This individual must be detail oriented and reliable as they will be responsible for overseeing the fund and account valuation process on a daily and monthly basis and delivering on client and CIO initiatives. Candidates must also have exceptional communication and interpersonal skills, as they will play a key role in ensuring excellent relationships through senior management cross departmentally and with external vendors.
You will be responsible for:
- Monitoring external partners daily activities to ensure that all service level agreements, procedures, and KPI's are met including but not limited to:
- Daily review of NAV, PNL, performance, reconciliations, and client reports
- Engaging in design and implementation of metrics and management tools
- Ensuring that functional work (e.g. reconciliations of accounts, valuations and returns) is completed excellently, without error, and according to procedure
- Ensuring that account events are accurately reflected and processed; validate the accuracy of vendor output
- Partnering with various departments in the build out, testing, and evolution of new designs, processes, reporting, and controls
- Collaborating with management to identify opportunities for improvement and address issues, risks and inefficiencies
- Organizing and drive to completion anything from simple process enhancements to larger strategic initiatives
- Serving as a liaison with internal departments and external service providers to ensure quality communication and accurate trade processing; facilitate resolution of complex issues
- Ad hoc projects, and coverage as necessary
You will be a click for the role if you:
- Have outstanding decision-making capabilities, keen logic, and good judgment
- Are an independent thinker, able to operate independently on short- and long-term goals, possesses common sense and comfort working in a high volume, fast-paced, constantly changing environment
- Have the ability to perceive risks and make quality decisions, often with incomplete information
- Are analytical and creative problem-solving skills demonstrated under pressure with tight deadlines
- Have strong communication skills, are able to synthesize thoughts in an effective manner and communicate well with people at various levels of the external and internal organization
- Are highly capable in commonly used software such as Excel, SharePoint, PowerPoint.
- Have a professional team-player mentality with a genuine interest in pursuing Bridgewater's common goal of excellence
Why Choose Bridgewater?
- Bachelors degree, demonstrating a strong academic record from a competitive school
- 2-8 years of Accounting and/or Operations experience
- Prior experience in financial service i.e. investment banking, hedge fund administration, hedge fund, investment bank setting or consulting firm (Accounting or Operations specific consulting)
The unifying experience at Bridgewater is meaningful work and meaningful relationships - the unique and lasting personal bonds forged out of a purposeful, rigorous, and inclusive work environment. Consistently, our employees find that this environment enables personal and professional growth, developed through an honest examination of their abilities and performance. We strive to provide you opportunities that will challenge you and unlock your potential.
In this role, you will grow with us by:
- Taking ownership of increasingly complex systems and processes.
- Taking on oversight and mentorship responsibilities to grow talent as you gain experience.
- Advancing in your personal and professional development through a deep understanding of your own strengths, weaknesses, and experiences
One of our core priorities at Bridgewater is to enable our employees to build a great life and career, and we believe our benefits are an important extension of that philosophy. Bridgewater offers a competitive suite of benefits including health insurance with 100% premium coverage, a 401(k) plan with generous employer match, fully paid parental leave, a competitive PTO package, workplace flexibility, adoption and egg-freezing assistance, wellness offerings such as on-site gyms, free meals, healthy snacks, and meditation rooms, and an engaged and active community that includes company events, affinity networks and extracurricular interest groups.
Bridgewater reserves the right to change its current benefits program at any time, in a manner that is consistent with applicable federal and state regulations
This job description is not a contract and confers no contractual rights, privileges, or benefits on any applicant or potential applicant. Bridgewater has the right to change any and all terms of this job description, including, but not limited to, job responsibilities, qualifications and benefits. Nothing in this job description constitutes an offer or guarantee of employment. Please note that we do not provide immigration sponsorship for this position.
Bridgewater Associates, LP is an Equal Opportunity Employer