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Investment Accountant

San Antonio Independent School District

Full-Time Exempt 
New York, NY 

About Wallace

The Wallace Foundation, an independent, national philanthropy based in New York City, traces its origins back more than half a century to DeWitt and Lila Acheson Wallace, founders of The Reader’s Digest Association. The Foundation’s work is grounded in its mission to foster equity and improvements in learning and enrichment for young people, and in the arts for everyone. Their core values guide how they work together and with their partners. The Foundation aspires to create an engaging and inclusive work environment based on mutual trust and respect, and driven by equity, diversity, transparency, collaboration, and continuous learning.

The Wallace Foundation is an Equal Opportunity Employer, committed to maintaining a diverse workplace where differing perspectives are a source of strength.

Position Summary

The investment accountant is a newly created position and will play a lead role in the accounting, reconciliation, and reporting of investment activity and holdings, and will also be responsible for all cash receipts and incoming wire activities. The position serves as a key collaborator for the foundation’s monthly close, annual audit, and tax filings, and will work closely with the team to implement new accounting software in early 2024. 

The position reports to the accounting manager and is a member of the Finance and Operations team led by the chief financial officer. The Investment Accountant will also work in close collaboration with members of Wallace’s investment staff.

Core Responsibilities
Investment Accounting
  • Review market values and activity for investment portfolio and reconcile internal data and third-party performance data reports. Research and resolve discrepancies.
  • Prepare monthly general ledger entries to record changes in NAV.
  • Review and analyze brokerage account activity, update activity tracker, and prepare related general ledger entries.
  • Review and process monthly custody fee invoices, prepare year-end accrual and reversing entries. 
  • Review and process quarterly investment manager fee invoices, prepare quarterly accrual and reversing entries.
  • Prepare supporting schedules to calculate deferred tax, prepare related general journal entries.
  • Prepare balance sheet and income statement variance analyses related to investment activities.
  • Download/scan and maintain investment documentation including capital statements, custodian reports, audited financial statements, audit confirmations, and K-1s. Update logs and prepare and distribute Friday Flash report weekly.
  • Distribute K-1s (via upload to portal) to outside tax accounting firm.
  • Distribute capital statements, capital call notices, and distribution notices to outsourced alternative investment accounting firm as needed.
Annual Audit
  • Coordinate audit confirmation process and ensure submissions are complete.
  • Prepare assigned audit schedules, statements and supporting workpapers for timely submission to auditors.
  • Ensure portfolio market values, hierarchies, unfunded commitment, and redemption terms are accurate.
  • Assist accounting manager with audit footnote disclosures.
Tax Returns
  • Prepare investment related schedules, statements and supporting workpapers required for the preparation of the foundation’s 990-PF and 990-T.
  • Assist accounting manager with book to tax calculations, including expense allocations. 
  • Assist accounting manager with the preparation of state UBIT tax returns.
Operational and Accounting Tasks
  • Monitor incoming wire activity and prepare corresponding journal entries. 
  • Deposit checks and prepare journal entries. 
  • Prepare monthly bank reconciliation; research and resolve unreconciled items, prepare journal entries as needed. 
  • Participate in monthly accounting close process. Review summary and detailed trial balance for accuracy, research discrepancies and prepare adjusting journal entries. 
  • Assist accounting manager with analyzing and improving internal controls and financial processes. 
  • Assist accounting manager with system upgrades, implementations, and integrations. 
  • Prepare various financial analyses as requested. 
  • Serve as backup for payroll processing.
  • Serve as backup for accounts payable processing.
Experience and Qualifications
  • Three to five years of relevant professional experience. 
  • Advanced level of proficiency: Excel. 
  • Proficiency in accounting and financial systems; investment accounting across all asset classes. 
  • Excellent project management, analytical, and problem-solving skills; attention to all the details. 
  • Strong interpersonal skills and commitment to working productively and collaboratively in a team structure. 
  • Consistently demonstrated communication skills. 
  • Commitment to accountability and transparency. 
  • Undergraduate degree in accounting.
  • CPA or master’s degree in accounting. 
  • Public accounting experience.
Compensation and Benefits

The current salary range for this position is $102,860 to $114,289.

A snapshot of our generous benefits package includes a choice of health insurance plans and a healthcare reimbursement account, 403(b) retirement plan with 15% employer contribution upon eligibility, and a community service matching gifts program recognizing employee volunteer hours with a financial contribution to a qualifying non-profit organization.

Work Location

All Wallace employees are required to be fully vaccinated by completing their primary series of vaccine doses. In addition to the foundation’s regular in-person work schedule, which is Tuesday through Thursday, this position will collaborate in-person with the team on an as-needed basis.


The Wallace Foundation has retained the services of PFK O'Connor Davies to conduct this search. Inquiries, nominations, and applications may be directed in confidence to: Steve Frey, PFK O’Connor Davies TalentConnect 



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