Analyst II, Fund Administration

Analyst II, Fund Administration

San Antonio, TX

About Victory Capital:

Victory Capital (NASDAQ: VCTR) is a diversified global asset management firm. We serve institutional, intermediary, and individual clients through our Investment Franchises and Solutions Platform, which manage specialized investment strategies across traditional and alternative asset classes. Our differentiated approach combines the power of investment autonomy with the support of a robust, fully integrated operational and distribution platform. Clients have access to focused, top-tier investment talent equipped with comprehensive resources designed to deliver competitive long-term performance.

Victory Capital is headquartered in San Antonio, Texas. To learn more, visit www.vcm.com or follow us on Facebook, Twitter (X), and LinkedIn.

General Summary and Purpose:

We are seeking a detail-oriented and analytical Analyst II to join our Fund Administration team. This role combines hands-on fund accounting work with oversight of our third-party fund accountant and sub-administrator for a diverse lineup of mutual funds and ETFs.

About 60% of the role is hands-on: validating security prices, preparing fair value analyses, and performing independent NAV checks. About 40% is oversight: reviewing service provider output, challenging results where needed, and supporting the firms responsibilities as Valuation Designee under Rule 2a-5. The position requires a strong understanding of financial markets, sound judgment, and the ability to work effectively under strict daily deadlines.

You Will:

Fund Accounting and Valuation

• Validate Daily Pricing: Perform independent daily and periodic price validation across multiple asset classes (equities, fixed income, derivatives, and structured products) using primary and secondary vendor sources.
• Research Pricing Exceptions: Investigate stale prices, tolerance breaches, and outlier movements. Source broker quotes or secondary vendor prices, and prepare price challenges and overrides with full documentation.
• Prepare Fair Value Analyses: Calculate and document fair values for securities without readily available market quotations, including halted, illiquid, and defaulted securities. Prepare fair value support and materials for the Valuation Committee.
• Perform Independent NAV Checks: Run shadow and independent NAV checks, including NAV movement analysis, review of price changes, and corporate action impacts. Review income accruals and distribution rates.
• Resolve NAV Variances: Investigate NAV variances and potential NAV errors, quantify impacts, and document root cause and resolution in line with the firms NAV error policy.

Service Provider Oversight

• Oversee the Fund Accountant: Review the fund accountants daily pricing output, exception reports, and NAV controls, and confirm that issues are identified, escalated, and resolved on time.
• Challenge Service Provider Results: Evaluate the support provided for prices and NAV results, and escalate or challenge results when the support is not sufficient.
• Oversee Pricing Vendors: Monitor the quality of pricing vendor data (e.g., ICE Data Services, Bloomberg, LSEG, PricingDirect), track vendor challenges, and support periodic vendor due diligence and back-testing reviews.
• Support Board and Committee Reporting: Help prepare periodic valuation reporting for the Valuation Committee and the Board, including fair value activity, price challenges, and back-testing results.
• Track Service Levels and Controls: Monitor service provider performance against agreed service levels and key controls, and contribute to oversight reporting and issue tracking.

Across Both Areas

• Ensure Policy and Control Compliance: Apply the firms valuation policies and procedures, U.S. GAAP, and internal controls. Maintain clear audit trails for price challenges, overrides, and fair value decisions.
• Collaborate Across Teams: Partner with the fund accountant and sub-administrator, custodians, portfolio management and trading teams, Compliance, and auditors to answer pricing and valuation questions and resolve issues.
• Contribute to Process Improvement: Identify opportunities to strengthen controls, reporting, and automation, and participate in projects such as fund launches, reorganizations, and service provider changes.

You Have:

• Education: Bachelors degree in Finance, Accounting, Economics, or a related field.
• Experience: 2 to 4 years of experience in fund accounting, pricing or valuation, or fund administration, including hands-on NAV or pricing work.
• Technical Proficiency: Advanced Microsoft Excel skills (lookups, pivot tables, and data formulas) and experience with financial data platforms such as Bloomberg. Experience with portfolio accounting systems is a plus.
• Market Knowledge: Working knowledge of different asset classes, market data sources, and common security valuation methods, including fair value techniques.
• Operational Strengths: Proven ability to work under pressure, meet firm daily cut-off times, and maintain strong attention to detail.
• Communication: Clear written and verbal communication skills, with the confidence to question service provider results and explain issues to non-technical stakeholders.

Preferred Qualifications:

• Fund Experience: Experience with registered investment companies, specifically mutual funds and ETFs under the Investment Company Act of 1940.
• Regulatory Knowledge: Familiarity with Rule 2a-5 fair value requirements, NAV error correction practices, and service provider oversight.
• Certification: Progress toward, or interest in, a professional certification such as the CFA, CIPM, or CPA.

Our Benefits:

Victory Capital Management offers excellent Medical, Dental, Vision plans, Flexible PTO, Family Medical and Disability Leaves, Education Tuition Reimbursement and a 401k plan with a generous employer match.

Target Compensation:

San Antonio, TX

The target base salary range for this position is $73,685 - $ 86,685.

Boston, MA

The target base salary range for this position is $92,625 - $ 108,975.

Salaries are determined based on internal equity, internal salary ranges, market data/ranges, applicant's skills and prior relevant experience, certain degrees, and certifications.

Victory Capital Management operates a pay-for-performance compensation philosophy and total compensation may vary based on role, location, department and individual performance.

Victory Capital Management's total compensation package includes the opportunity for annual compensation bonuses and/or commissions and a generous benefits package.

We are committed to equal employment opportunity without regard to actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, pregnancy-related conditions, and lactation), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information, height, weight, hair texture or a hairstyle historically associated with race to include braids, locks, or twists; or any other characteristic protected by applicable federal, state, or local laws and ordinances.