What are the responsibilities and job description for the Financial Accountant position at State of Wisconsin Investment Board?
Making a Difference
The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $156 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. We are the 9th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.
Serving more than 691,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,500 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.
SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.
Home To Top Talent
Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.
Job Description
About the Team
The Finance Division (Finance) serves the entire organization and is under the direction of the Chief Financial Officer. Finance is responsible for several critical functions at SWIB and comprises six teams: Fund Administration (FA), Finance Operations (FinOps), Financial Planning & Analysis (FP&A), Vendor Engagement and Oversight (VEO), Performance, and Operational, Financing & Counterparty Risk Management (OFCR).
This position is within FinOps. FinOps is responsible for overseeing SWIB’s general ledger, payroll processing, accounts payable, and business travel. They provide focus and oversight over SWIB’s internal costs. FinOps leverages financial data to support activities directly impacting SWIB’s performance results. In addition, FinOps is responsible for preparing the financial statements for the WRS and SIF, while also providing key financial reporting information for the separately managed funds SWIB oversees.
Position Overview
The Financial Accountant will play a key role on the FinOps team by ensuring complete and accurate accounting information is produced and available for critical SWIB processes. The Financial Accountant will work closely with other FinOps team members and report directly to the Financial Manager while also collaborating with teams across Finance and SWIB more broadly. The position’s essential activities and attributes that the ideal candidate will possess are included below.
Essential Activities
Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.
All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading. You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.
The State of Wisconsin Investment Board (SWIB), founded in 1951, is a premier global investment organization responsible for managing the more than $156 billion of assets of the fully funded Wisconsin Retirement System (WRS), the State Investment Fund and other state funds. Through SWIB’s effective and innovative investment management, WRS remains one of the only fully funded US public pensions. We are the 9th largest public pension fund in the U.S. and the 25th largest public or private pension fund in the world. SWIB is recognized by the investment industry for our teamwork and innovation. SWIB pursues sophisticated global investment strategies across the asset and risk allocation spectrum. Providers across the investment ecosystem seek to partner with SWIB.
Serving more than 691,000 beneficiaries of the WRS, SWIB is a mission-driven organization focused on providing a strong financial future to those who committed their careers to public service. For public employees and the 1,500 Wisconsin employers who contribute on their behalf, we are a trusted partner. Our team innovates continuously to meet the challenges of an evolving investment landscape while growing and protecting the assets of the WRS.
SWIB provides a strong, steady economic pillar for the state of Wisconsin by growing the trust funds under its management, managing risk, and optimizing costs of the long term. We are a mission-driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating required returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.
Home To Top Talent
Our high-performing staff is key to what makes us a premier investment manager. SWIB is committed to investing in talented professionals to implement our robust, sophisticated investment strategies and to keep the organization at the forefront of the investment industry. We encourage innovation and offer professional development opportunities to help staff sharpen and expand their skills. Approximately 61 percent of SWIB’s investment professionals are Chartered Financial Analyst (CFA) charterholders.
Job Description
About the Team
The Finance Division (Finance) serves the entire organization and is under the direction of the Chief Financial Officer. Finance is responsible for several critical functions at SWIB and comprises six teams: Fund Administration (FA), Finance Operations (FinOps), Financial Planning & Analysis (FP&A), Vendor Engagement and Oversight (VEO), Performance, and Operational, Financing & Counterparty Risk Management (OFCR).
This position is within FinOps. FinOps is responsible for overseeing SWIB’s general ledger, payroll processing, accounts payable, and business travel. They provide focus and oversight over SWIB’s internal costs. FinOps leverages financial data to support activities directly impacting SWIB’s performance results. In addition, FinOps is responsible for preparing the financial statements for the WRS and SIF, while also providing key financial reporting information for the separately managed funds SWIB oversees.
Position Overview
The Financial Accountant will play a key role on the FinOps team by ensuring complete and accurate accounting information is produced and available for critical SWIB processes. The Financial Accountant will work closely with other FinOps team members and report directly to the Financial Manager while also collaborating with teams across Finance and SWIB more broadly. The position’s essential activities and attributes that the ideal candidate will possess are included below.
Essential Activities
- Perform a variety of accounting activities including calculating expense accruals, performing expense reconciliations, recording key journal entries, processing payments to vendors, and facilitating SWIB’s payroll process.
- Own most of SWIB’s internal operating expense and revenue accounting.
- Record accounting entries into SWIB’s Enterprise Resource Planning (ERP) system and provide accounting instructions to SWIB’s custodian and other reporting books.
- Develop a deep understanding of SWIB’s ERP system, Workday, and collaborate across SWIB divisions to develop, test, and implement ERP enhancements and controls.
- Assist with the production of the annual WRS and SIF financial statements and related footnotes including research and analysis on new Governmental Account Standards Board (GASB) pronouncements.
- Understand complex investment strategies and determine the proper financial reporting treatment for each.
- Collaborate with management to review processes and implement changes.
- Perform complex, ad-hoc project as requested.
- Proficiently use software applications including MS Office and the ERP systems employed by both SWIB and the State of Wisconsin (Workday and PeopleSoft).
- Holds a bachelor’s degree or higher in accounting, finance, or related field
- Overall post-degree work experience of 1 to 3 years, which may include internships
- Has experience with ERP systems, ideally including Workday and/or PeopleSoft
- Leverages their intellectual curiosity to continually learn and develop their skills
- Is a self-starter with the ability to nimbly manage competing priorities
- Can efficiently consume, distill, and communicate complex issues
- Confidently manages both team and enterprise-level relationships through a focus on collaboration
- Is driven by results, but focused on process
- Will take a leading role in navigating FinOps’ key systems
- Challenges the status quo when appropriate
- Is proficient with Microsoft Office Suite, most notably Excel
- Possesses excellent verbal and written communication skills
- Possesses superb work ethic, attention to detail, team oriented, and committed to excellence
- Holds or is qualified to obtain professional designations such as a CPA
- Competitive total cash compensation, based on AON (formerly McLagan) industry benchmarks
- Comprehensive benefits package
- Educational and training opportunities
- Tuition reimbursement
- Challenging work in a professional environment
- Hybrid work environment
Pursuant to our Hybrid Remote Work Policy, all staff have the flexibility to work remotely, but are required to have a weekly presence in our offices, the frequency of which is dependent on their distance from office. Staff are not required to reside locally; however, we offer relocation reimbursement to the Dane County area per our policy.
All SWIB employees are subject to SWIB’s Ethics Policy and Personal Trade Approvals Policy. These policies include restrictions on outside business activities and employment and have limits on personal trading. You may request copies of these policies from SWIB’s talent acquisition team and any questions can be answered by SWIB’s compliance team.
