Fund Administration Intern
OUR AGENCY
Make a Difference
SWIB is a trusted and skilled global investment organization managing the assets of the Wisconsin Retirement System (WRS) and other separately managed funds. With about $145 billion in total assets under management, SWIB has been recognized by the investment industry for its teamwork and innovation that helps make it a premier asset manager. Sophisticated investment management strategies, forward-looking technologies, and strong internal asset management make SWIB a leading investment organization.
For public employees in Wisconsin, SWIB is a unique and valuable partner. Investing for the financial security of more than 652,000 individuals – and for the 1,500 Wisconsin employers who contribute on behalf of their employees – SWIB’s strong management of the WRS has helped fuel one of only a few fully funded public pension funds in the country. SWIB’s long-term investment returns meet the challenges of a constantly evolving investment landscape while helping grow and protect the assets of the WRS, which is consistently among the top 10 largest public pension funds in the U.S.
We are a mission driven organization and the participants we serve are our mission. By bringing a disciplined, prudent, and innovative approach to market opportunities, SWIB has been successful in generating reasonable returns and maintaining the trust of the beneficiaries and stakeholders of the funds we oversee.
Real World Experience
This is your opportunity to gain professional experience working for one of the nation’s top public pension fund investment organizations. We are looking for a dynamic, energetic intern who is eager to be a part of our dedicated team. SWIB’s intern program offers an opportunity for you to put your skills to use while at the same time to learn new skills in a professional environment. Our internship program is designed to provide meaningful work through hands-on, authentic, professional experiences.
About the Team
The Finance Division (Finance) serves the entire organization and is under the direction of the Chief Financial Officer. Finance is responsible for several critical functions at SWIB and comprises four teams: Accounting & Financial Services, Financial Planning & Analysis, Vendor Engagement & Oversight and Fund Administration. Finance Operations oversees SWIB’s general ledger, accounts payable, procurement, business travel, budget, cost management and reporting, and contract management.
Financial Planning & Analysis assists management in creating analysis of division profitability, prepares extensive financial analytics leveraged across the agency, and manages SWIB’s incentive compensation program. Vendor Engagement & Oversight manages both SWIB’s procurement process and vendor relationships. Fund Administration is responsible for the accounting and reporting for a diverse set of complex, multi-asset investment strategies.
SWIB is seeking a Fund Administration intern to work within Private Markets / Fund Alpha Valuations and including various Accounting and Financial Reporting activities. The intern will work 10-15 hours per week during the school year, if the selected candidate is local, and up to 40 hours per week over the summer, with the possibility of further work of 10-15 hours per week during the fall 2023 semester.
Essential activities:
- Collaborate with internal and external teams to oversee the periodic accounting close of both public and private investment portfolios
- Assess the accuracy of both management and performance fees charged by external investment managers
- Support SWIB’s annual audits, which includes liaising directly with external auditors to provide client deliverables and resolving questions auditors may have tied to administrative nuances
- Assist the agency in implementing robotic process automation to support key repetitive tasks
- Identify, develop, and promote opportunities to enhance SWIB’s internal control environment while maintaining operational efficiency
- Support Valuations for both public and private market securities including implementing market best practices
- As key processes are developed, create process documentation ensuring the repeatability of process
- Track specific attributes of non-traditional investments governed by complex contracts
- Manage journal entries to record daily cash activity incurred by associated state agencies
- Complete ad hoc requests and analysis, as needed
The Ideal candidate:
- Ability to work in Madison, WI for an approximate 10-week period beginning late May/early June 2023.
- Has at least 1 year of experience working in a financial services or other professional services organization
- Working towards bachelor’s degree focused in Accounting, Finance, or a related field.
- Leverages their intellectual curiosity continually learn and develop their skills
- Can effectively carry out standardized processes with accuracy in a timely manner
- Is interested in financial markets
- Interest in pursuing, a professional designation like the CPA, CFA, or CAIA
- Is a self-starter with the ability to nimbly manage competing priorities
- Is adaptable and organized
- Is driven by results, but focused on process
- Can efficiently consume, distill, and communicate complex issues
- Challenges the status quo when appropriate
- Independently seeks out the “why” behind key tasks
Join HIGHER PERFORMERS
Home to Top Talent
SWIB’s professionals shape sophisticated investment management strategies, by driving progressive technologies, and by delivering strong internal asset management results. SWIB’s internal team invests approximately 50% percent of its assets under management in house. As a result, Institutional Investor recognizes SWIB as “home to top talent in American public investing.”
“The organization has earned a reputation for investment excellence in part by running much of its portfolio successfully in-house versus outsourcing to Wall Street” – Institutional Investor.