Analyst II, Fund AdministrationSan Antonio, TXGeneral Summary and Purpose:We are seeking a detail-oriented and analytical Analyst II to join our Fund Administration team. This role combines hands-on fund accounting work with oversight of our third-party fund accountant and sub-administrator for a diverse lineup of mutual funds and ETFs.
About 60% of the role is hands-on: validating security prices, preparing fair value analyses, and performing independent NAV checks. About 40% is oversight: reviewing service provider output, challenging results where needed, and supporting the firm's responsibilities as Valuation Designee under Rule 2a-5. The position requires a strong understanding of financial markets, sound judgment, and the ability to work effectively under strict daily deadlines.
You Will:Fund Accounting and Valuation- Validate Daily Pricing: Perform independent daily and periodic price validation across multiple asset classes (equities, fixed income, derivatives, and structured products) using primary and secondary vendor sources.
- Research Pricing Exceptions: Investigate stale prices, tolerance breaches, and outlier movements. Source broker quotes or secondary vendor prices, and prepare price challenges and overrides with full documentation.
- Prepare Fair Value Analyses: Calculate and document fair values for securities without readily available market quotations, including halted, illiquid, and defaulted securities. Prepare fair value support and materials for the Valuation Committee.
- Perform Independent NAV Checks: Run shadow and independent NAV checks, including NAV movement analysis, review of price changes, and corporate action impacts. Review income accruals and distribution rates.
- Resolve NAV Variances: Investigate NAV variances and potential NAV errors, quantify impacts, and document root cause and resolution in line with the firm's NAV error policy.
Service Provider Oversight- Oversee the Fund Accountant: Review the fund accountant's daily pricing output, exception reports, and NAV controls, and confirm that issues are identified, escalated, and resolved on time.
- Challenge Service Provider Results: Evaluate the support provided for prices and NAV results, and escalate or challenge results when the support is not sufficient.
- Oversee Pricing Vendors: Monitor the quality of pricing vendor data (e.g., ICE Data Services, Bloomberg, LSEG, PricingDirect), track vendor challenges, and support periodic vendor due diligence and back-testing reviews.
- Support Board and Committee Reporting: Help prepare periodic valuation reporting for the Valuation Committee and the Board, including fair value activity, price challenges, and back-testing results.
- Track Service Levels and Controls: Monitor service provider performance against agreed service levels and key controls, and contribute to oversight reporting and issue tracking.
Across Both Areas- Ensure Policy and Control Compliance: Apply the firm's valuation policies and procedures, U.S. GAAP, and internal controls. Maintain clear audit trails for price challenges, overrides, and fair value decisions.
- Collaborate Across Teams: Partner with the fund accountant and sub-administrator, custodians, portfolio management and trading teams, Compliance, and auditors to answer pricing and valuation questions and resolve issues.
- Contribute to Process Improvement: Identify opportunities to strengthen controls, reporting, and automation, and participate in projects such as fund launches, reorganizations, and service provider changes.
You Have:- Education: Bachelor's degree in Finance, Accounting, Economics, or a related field.
- Experience: 2 to 4 years of experience in fund accounting, pricing or valuation, or fund administration, including hands-on NAV or pricing work.
- Technical Proficiency: Advanced Microsoft Excel skills (lookups, pivot tables, and data formulas) and experience with financial data platforms such as Bloomberg. Experience with portfolio accounting systems is a plus.
- Market Knowledge: Working knowledge of different asset classes, market data sources, and common security valuation methods, including fair value techniques.
- Operational Strengths: Proven ability to work under pressure, meet firm daily cut-off times, and maintain strong attention to detail.
- Communication: Clear written and verbal communication skills, with the confidence to question service provider results and explain issues to non-technical stakeholders.
Preferred Qualifications:- Fund Experience: Experience with registered investment companies, specifically mutual funds and ETFs under the Investment Company Act of 1940.
- Regulatory Knowledge: Familiarity with Rule 2a-5 fair value requirements, NAV error correction practices, and service provider oversight.
- Certification: Progress toward, or interest in, a professional certification such as the CFA, CIPM, or CPA.
Our Benefits:Victory Capital Management offers excellent Medical, Dental, Vision plans, Flexible PTO, Family Medical and Disability Leaves, Education Tuition Reimbursement and a 401k plan with a generous employer match.
Target Compensation:San Antonio, TXThe target base salary range for this position is $73,685 - $ 86,685.
Boston, MAThe target base salary range for this position is $92,625 - $ 108,975.
Salaries are determined based on internal equity, internal salary ranges, market data/ranges, applicant's skills and prior relevant experience, certain degrees, and certifications.
Victory Capital Management operates a pay-for-performance compensation philosophy and total compensation may vary based on role, location, department and individual performance.
Victory Capital Management's total compensation package includes the opportunity for annual compensation bonuses and/or commissions and a generous benefits package.
