Director, Accounting (PL)

Your Opportunity

Schwab remains committed to providing increased visibility to career growth opportunities and job requirements. This posting announcement is part of increased transparency and while all qualified applicants will be reviewed and considered, this organization has a preferred candidate identified for this role. 

The Fund Accounting Team function within Schwab Asset Management (SAM) is primarily responsible for oversight of the third-party fund accounting service provider with respect to the proprietary mutual funds, exchange-traded funds (ETFs), and bank collective trust funds. The Fund Accounting Team is looking for a Director to lead an experienced team of senior managers and managers by providing guidance and mentoring during the delivery of their job duties. The Director will be responsible for ensuring the fund accounting teams oversight of the fund accountant and that the vendor records transactions in accordance with the Funds' accounting policies, ensures accuracy of the fund Net Asset Values (NAVs) and oversees fund distributions of income and capital gains. In addition, the Director will be responsible for oversight of the fund contingent NAV and daily NAV oversight vendor to ensure technology is keeping up to date with fund initiatives and new investment instruments. As a Director you will also be partnering with all functional areas within SAM Operations including, but not limited to portfolio managers, product managers, internal tax professionals, trade operations, transfer agency, fund expenses, fund services, independent auditor, and financial reporting representatives. This person will ensure that the fund accounting team follows internal controls which are documented, implemented, and appropriately monitored which are also subject to internal compliance and audit reviews which the Director will take an active lead. This role includes responsibility to stay abreast of regulatory changes and implement those changes on a go forward basis alongside the continued analysis of team procedures and recommendations for process improvements.  Director will also be an active participant in new product initiatives and product changes along with working with senior leaders on strategic projects and initiatives when needed.

Primary responsibilities include:

• Oversight of the fund accounting teams processes for end of day signoff on vendor calculated NAVs including supporting team research and explanations outside of tolerance thresholds, including next day review of daily calculated NAVs including research and explanations of exceptions
• Oversight of third-party fund accounting service provider and contingent NAV and daily NAV oversight vendor which provides technology used by the fund accounting team
• Oversight and ability to analyze fund distributions and work with team to prepare recommendations
• Oversight of team production of monthly management reports, governance committee reports and quarterly fund board reports, as well as other periodic and ad-hoc requests
• Communicate and oversight with the external fund accountant regarding accounting policy updates and issue remediation
• Ongoing partnership and collaboration with all functional areas within SAM Fund Administration to coordinate and initiate Accounting Policy interim reviews/updates as well as to review and implement industry changes/trends
• Effectively communicate with all parties across the SAM and Schwab Bank organizations including portfolio managers and senior leaders
• Oversight of fund accounting teams coordinating of schedules with internal and external partners, moderating or oversight of weekly team meetings with fund accounting team
• Playing a key role in identifying and implementing process improvements and leading interactions with external and internal partners and vendors
• Staying abreast of regulatory changes and implementing internal policy updates on a go forward basis by working with fund administration partners and senior management
• Deep knowledge in U.S. Generally Accepted Accounting Principles
• Communicating and presenting to senior management in SAM on accounting standards and team process on a as needed basis, including interaction with the Schwab Fund Complex Treasurer and Chief Financial Officer and SAM Chief Operating Officer

What you have

• Bachelor’s degree in Accounting, Finance, Economics, or related field
• 15+ years of accounting and related experience in accounting for mutual funds and ETFs including experience in fund administration and expertise in fund accounting, fund distributions and valuations
• Strong working knowledge of calculation of NAV per share and components related to investment accounting, income, expenses, capital transactions, and valuations
• Strong project management, vendor management and research skills
• Proven verbal communication and presentation skills and ability to interact with all levels in the SAM Fund Administration teams and with other external/internal partners
• Proven organizational skills, attention to detail, and the ability to meet tight deadlines
• Drive and skillset to identify areas of opportunity and implement effective change and automation
• Proactively support business partners and overall company goals through collaboration and effective networking
• Experience in people leading which includes frequent 1:1 meetings, mentorship and development, and annual performance reviews
• Ability to communicate effectively with senior leaders on complex projects and strategic initiatives
• Ability to plan, organize and lead a team effectively
• Excellent verbal and communication skills
• Strong people skills