Careers

Accounting Associate - Commission/Compensation and Accounts Receivable

Areas of Interest:

Accounting & Finance

Location:

Chicago, Illinois

Date Posted:

Jan-02-2018

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Company Description:

William Blair is a global investment banking and asset management firm. We are committed to building enduring relationships with our clients and providing expertise and solutions to meet their evolving needs. An independent and employee-owned firm, William Blair is based in Chicago and, together with its strategic partners, operates worldwide. 

Job Summary & Responsibilities:

  • Processing commission and compensation payouts for Private Wealth Management and Institutional Sales departments that include:
    • Compiling and processing daily trade information from trade processing system and calculating commission payouts for brokers and traders
    • Reviewing broker and trader commission payouts for accuracy
    • Assigning and maintaining all registered representative numbers
    • Processing incentive arrangements for sales assistants
    • Maintaining plateau reserves and bonus pools
    • Charging expenses to producers as required and maintaining payable and deficit general ledger accounts for all producers
    • Communicating employee producer pay information to Payroll monthly.
  • Processing accounts receivable/billing transactions that include:
    • Booking monthly accruals
    • Applying payments received from customers
    • Recording revenue from billing systems
    • Reconciling fees between billing system and general ledger
  • Reviewing bank reconciliations and serving as a back-up as needed
  • Working with external auditors and assisting in year-end audit
  • Assisting with monthly close process (and related month-end reconciliations)
  • Assisting in financial statement preparation and related schedules
  • Developing/evaluating accounting policy & procedures
  • Analyzing business unit performance
  • Ad-Hoc projects as requested by management

Qualifications:

  • 2-4 years of experience in financial services industry
  • Experience processing commission and compensation payments in M&O/BRAC
  • In-depth knowledge of accounting principles, practices and procedures
  • Strong PC literacy skills in a Windows environment with Microsoft Office products (Excel, Access and Word); strong financial systems experience (i.e. NetSuite, SharePoint, and Essbase)
  • Strong verbal and written communication skills
  • Ability to collaborate and communicate effectively within cross-functional teams
  • Strong attention to detail
  • Ability to interpret and communicate FASB Codification Standards and apply to work performed
  • Bachelor’s degree in Accounting; CPA preferred
  • Strong academic track record

As a William Blair associate, you’ll enjoy Medical, Dental, Life and AD&D Insurance, along with a generous profit sharing program that includes a 401K plan in addition to a firm contribution. We also offer three weeks of vacation, flexible spending accounts, a business casual dress code, a 75% discounted commissions on trades, and discounts at restaurants, museums, parks and retailers.

William Blair is an equal opportunity employer. It complies with all laws and regulations that prohibit discrimination in employment practice because of race, color, religion, creed, ancestry, marital status, gender, age, national origin, sexual orientation, unfavorable discharge from the military service or on the basis of a physical or mental disability that is unrelated to the employee's ability to perform the duties of the job applied for.

EOE m/f/d/v