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Commonwealth of Pennsylvania |
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POSITION DESCRIPTION FOR JOB POSTING |
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Position Number: 50578909 |
Description Activated On: 8/6/2026 2:08:47 PM |
Position Purpose: Describe the primary purpose of this position and how it contributes to the organization’s objectives. Example: Provides clerical and office support within the Division to ensure its operations are conducted efficiently and effectively. This position independently performs important and responsible reconciliation and analysis of general ledger accounts as they relate to PSERS new Defined Contribution (DC) plan investments under Act-5. This position will be responsible for the preparation of journal entries to account for activity relating to the investment reporting of the DC plan. This position also serves as the oversight function for the overall investment reporting of the Fund’s DC plan investments. Such reporting includes various financial management and performance-related reports of mutual funds that hold domestic and international equities, domestic and global fixed income, short-term, derivatives, options, futures, commodities, and FX transactions to PSERS’ senior management and Board of Trustees. |
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Description of Duties: Describe in detail the duties and responsibilities assigned to this position. Descriptions should include the major end result of the task. Example: Types correspondence, reports, and other various documents from handwritten drafts for review and signature of the supervisor. Responsible to analyze Financial and Management Reports as well as related documentation received from Voya (Third Party Administrator). Work closely with TPA’s accounting staff. Identify accrual related activity to be journalized (the full accrual method of accounting is used) and prepare journal entries. Analyze specific General Ledger accounts and perform reconciliations to ensure accuracy for internal financial reporting. Responsible to ensure the complete reporting of all cash & accrual related activity for the Defined Contributions Plan and associated journal entries. Responsibilities include, but are not limited to, researching and resolving routine, unique or complex investment accounting transactions and ensuring that the monthly reconciliations of cost, market, purchases, sales, accrual, pending trades, income, unrealized and realized currency and security gains/losses and income accruals posted to the general ledger are complete and accurate and in accordance with generally accepted accounting principles. Analyze results and identify anomalies. Recommend necessary corrections to Third Party Administrator based on identified anomalies. Be responsible to monitor the receipts and disbursements in accordance with applicable legal requirement. Responsible to ensure all administrative expense invoices from the TPA and Fund Consultants are expenses covered by the contract. Monitor outstanding payable to ensure prompt payment to TPA and responsible for processing the request to pay DC related expenses in a timely manner. This position requires maintaining a thorough knowledge of government and financial accounting methods as applied to investments, generally accepted accounting principles and procedures, the Fund’s investment objectives and guidelines, various investment and accounting software packages, and the investment markets and their impact on Fund performance. Custodial bank reports for short-term investment funds, fund summary, currency summary, open payables and receivables and futures positions are requested for the Fund’s investment managers and partnerships. Technical understanding of all the Fund’s asset classes as well as short-term investments, and various manager investment strategies is required. Communicate, verbally and in writing, with the custodial bank, senior Treasury officials, senior management staff, investment managers’ operations’ managers, brokers, Fund consultants and independent auditors to effectively coordinate the transaction, reporting and performance activity of the Fund’s investments. Responsible to keep an ongoing reconciled status of the Defined Contribution within the General Ledger. Responsible to analyze the sub-custodial bank activity for the DC plan. The incumbent is also responsible to develop and maintain controls for detecting misuse and/or loss of funds by monitoring the new Third-Party Administrator for administering the Defined Contribution Plan. Responsible for examination of financial data as submitted by the Third-Party Administrator. Ensure the accuracy and thoroughness of documentation. Investment accounting transactions involve, but are not limited to, equity, fixed income, options, futures, foreign exchange contracts, corporate actions, and various other derivatives. Reconciles the monthly target date fund series to the reporting from TPA through review of multiple reports. Research new and complex investment instruments purchased by the Fund and offered as part of the Defined Contribution plan to ensure proper accounting theory is applied in reporting the Fund’s investment transactions. Review the following: the reconciliation, audit, and analysis of the hybrid plan including DC, monthly journal entries for PSERS’ general ledger and detailed year-end reports required for the annual independent audit; market values included in the monthly and quarterly performance reports prepared by the Fund’s overall investment consultant for PSERS’ senior management. Prepare or direct the preparation of correspondence to the TPA as needed regarding cash or other problems requiring attention/correction. Extensive knowledge and skill in use of Microsoft Office applications is required. Maintain working knowledge of various software programs including Bloomberg, Velocity, SAP, Lawson, Voya Sponsor Web and Microsoft’s suite of products including Excel, Word, Outlook, Teams, and PowerPoint. |
Decision Making: Describe the types of decisions made by the incumbent of this position and the types of decisions referred to others. Identify the problems or issues that can be resolved at the level of this position, versus those that must be referred to the supervisor. Example: In response to a customer inquiry, this work involves researching the status of an activity and preparing a formal response for the supervisor’s signature. The Accountant 2 is responsible for independent reconciliation and analysis of general ledger accounts relating to the Investment Reporting of the Defined Contribution plan. Responsible for examination of financial data as submitted by the Third-Party Administrator. Ensure the accuracy and thoroughness of documentation. Responsible to keep an ongoing reconciled status of the hybrid plan accounts including the Defined Contribution plan within the General Ledger. This accountant will obtain guidance from Managers for situations involving complex law changes or significant policy changes that impact PSERS Hybrid Plan including Defined Contribution. |
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Requirements Profile: Identify any specific experience or requirements, such as a licensure, registration, or certification, which may be necessary to perform the functions of the position. Position-specific requirements should be consistent with a Special Requirement or other criteria identified in the classification specification covering this position. Example: Experience using Java; Professional Engineer License Experience: Licenses, registrations, or certifications: 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A 6. N/A |
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Essential Functions: Provide a list of essential functions for this position. Example: Transports boxes weighing up to 60 pounds.
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