Analyst II, Fund Administration

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  or follow us on Facebook, Twitter (X), and Linked In.

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 firm's 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.

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 firm's NAV error policy.

Service Provider Oversight

• Oversee the Fund Accountant: Review the fund accountant's 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 esc…
• Oversee Pricing Vendors: Monitor the quality of pricing vendor data (e.g., ICE Data Services, Bloomberg, LSEG, Pricing Direct), 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 firm's 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…