Fund accountant experience counted toward CFA? - RedFlagDeals.com Forums (2024)

Hi guys,

I am wondering if working as Fund Accountant will give us CFA qualified work experience? Although I have CSC and will be sitting for CFA Level II this June, I have yet worked in the investment field. I am working for a small legal firm as a bookkeeper (plus handling other functions ie. sales & marketing, admin, etc). Looking to face real challenges and growth in a dynamic role

Please someone advise me what kind of questions, technical tests, etc which will appear in the interviews for Fund Accountant! I consider applying for State Street, RBC Dexia, CIBC Mellon & Citco.

P.S. I heard they will test on Excel skills, what is included in this?

Thanks guys for reading my concerns, any advice is greatly appreciated!

Yes it count towards CFA/CMA. Only advise is do not stay too long then it will be harder to get out. I have several friends with CFA/CMA/CGA but cannot find job outside fund accounting.

I worked one year in fund accounting and got out after that. When I interviewed some of the technical questions asked were. What is a mutual fund ? Pros and cons of owning mutual funds ? If you have CSC technical side should not be too hard.

If you know someone in any of those companies. Its almost guarantee you will at least get an interview. Good Luck

Thanks so much for info Do you have any idea about the salary range that I should expect?

Do you mind if I ask what firm you worked as FA before?

thestar99 wrote: ↑Yes it count towards CFA/CMA. Only advise is do not stay too long then it will be harder to get out. I have several friends with CFA/CMA/CGA but cannot find job outside fund accounting.

I worked one year in fund accounting and got out after that. When I interviewed some of the technical questions asked were. What is a mutual fund ? Pros and cons of owning mutual funds ? If you have CSC technical side should not be too hard.

If you know someone in any of those companies. Its almost guarantee you will at least get an interview. Good Luck

I worked at CIbc Mellon . Salary range is 35 - 38 k. They start u off with six month contract and hire u ft after that.

This job is repetitive and u need basic excel skills since everything is macro set up

thestar99 wrote: ↑Yes it count towards CFA/CMA. Only advise is do not stay too long then it will be harder to get out. I have several friends with CFA/CMA/CGA but cannot find job outside fund accounting.

I worked one year in fund accounting and got out after that. When I interviewed some of the technical questions asked were. What is a mutual fund ? Pros and cons of owning mutual funds ? If you have CSC technical side should not be too hard.

If you know someone in any of those companies. Its almost guarantee you will at least get an interview. Good Luck

What?

Why are you stating that it counts towards CFA/CMA?

OP asked about CFA in particular and there is no indication that it would count towards that.

Fund accounting is accounting. CFA work experience requires involvement with investment decision making or working with investments on a daily basis or auditing of investments.

Actually fund accounting experience do count toward CFA.

I have a couple of friends working in StateStreet in fund accounting and doing their CFA currently.

IF that is true, it would be because state street is an asset management company. Notice I said above that you need to be working in an investment company?

But the CFA requirements state that you need to be applying or evaluating data as part of the investment decision making process.

Fund accounting wouldn't be part of investment decision making for the people actually doing the accounting unless part of the job description involves preparing reports, analyzing stuff etc.

Then I guess they meet the "preparing report" portion of the requirement as they auto populate NAV report templates from excel.

I also know people in CIBC Mellon and State Street in fund accounting position. Their work experience did count toward their CFA.

206bw wrote: ↑Then I guess they meet the "preparing report" portion of the requirement as they auto populate NAV report templates from excel.

I also know people in CIBC Mellon and State Street in fund accounting position. Their work experience did count toward their CFA.

Many years ago both big4 audit and fund accounting heck working in a discount brokeage counted towards the CFA. Over the last 3 years those experience requirements are much more difficult now. To answer the other dude no big4 audit for sure does not count towards the experience requirement anymore. Fund accounting is also in the "grey zone" someone would really need to spin their work experience to get it counted. Also I have heard of people getting it rejected the first time and then accepted later on when they "spun" it better.

OP, check analystforum for more info.

Thanks for the info. I heard that too!!!

adehbone wrote: ↑Many years ago both big4 audit and fund accounting heck working in a discount brokeage counted towards the CFA. Over the last 3 years those experience requirements are much more difficult now. To answer the other dude no big4 audit for sure does not count towards the experience requirement anymore. Fund accounting is also in the "grey zone" someone would really need to spin their work experience to get it counted. Also I have heard of people getting it rejected the first time and then accepted later on when they "spun" it better.

OP, check analystforum for more info.