Director - Head of Mezzanine Funds

Director - Head of Mezzanine Funds  

Main Job Purpose

Key Responsibilities

Service Delivery

• To manage the Client Delivery team responsible for the day to day production of new and existing client business (Fund Accounting, Fund Administration) working with other relevant teams within the Business.
• To ensure that our clients regulated and unregulated structures remain fully compliant with the relevant legal/ regulatory requirements, fund prospectus, structuring and applicable accounting and administration standards on an ongoing basis.
• To ensure the day to day accounting and administration of client's funds are in line with the agreed SLA's and contractual terms. Such SLA's and terms being revised in line with the clients evolving requirements.
• To ensure that production is of a consistently high quality and delivered in a timely manner within an appropriately managed risk framework. Managing any commercial drift in respect of pre-agreed terms, new activities and client requests in conjunction with Client Line, Controls and Legal teams.
• To provide active communication and direct client engagement on the day to day production of accounting and administrative deliverables ensuring the teams work in a manner that is client focused.
• Ensure all relevant controls, checklists and workflows are validated and implemented to support the production requirements. Where trans-jurisdictional structures are implemented, work with the wider group to ensure the clients structures are supported and managed in a seamless fashion with other agreed BNP Client Delivery teams and relevant third parties (directors, service agents, accountants etc).
• To ensure fees and billing are in line with client tariffs and processed promptly in line with client collection terms. To review the output of time sheets to ensure they are completed correctly, in god time and reflect the work being undertaken. Where additional activities are noted outside of client terms referring these for potential inclusion in revised tariffs.
• To gain significant knowledge and awareness of our operational capabilities of our platforms (e.g E-front/ Multifonds and other bank applications) as applied to day to day production.

Strategic 

• To review profitability, costs and the allocation of resources with the Head of Private Capital Client Delivery, Client Line and Finance to ensure that it correctly reflects the work being undertaken across our clients funds, together with any recharges received or claimed by the location.
• To provide a positive contribution towards working with both local and global teams to optimise the delivery of our services. The role provides connectivity at local level, but also within the wider BNP Paribas group as it involves working with other locations and SME’s in delivery of the clients requirements to ensure that global capabilities are leveraged to the maximum extent.
• Working with the Head of Private Capital Client Delivery, and the Senior Management team to ensure we consistently optimise the target operating model and IT model for delivery of fund administration/fund accounting services. Whilst the role is responsible for production of key accounting and fund administration deliverables, the role also engages with the Client Service team, Client Line and Relationship Management (at both a local and a global level).
• Whilst supporting the development of a target operating model, consider at all times the operational risk relevant to the clients production requirements to ensure we develop our activities in the safest possible environment. Ensure all appropriate controls are implemented at the outset and procedures are understood in production. Working with the Operational Support and Strategic Transitions team, maintain an environment of self-audit that delivers a robust framework for newly implemented and existing business.
• Work with the Client, Sales, Client Line and Strategic Transitions teams in understanding how our day to day operational services can meet clients' current and developing requirements, regulatory requirements and market requirements in order to contribute towards a set of solutions and services that are profitable, client aligned, efficient, risk managed and competitive.
• Work with Client Line, Legal and the Control teams in developing the appropriate contractual documentation and SLA's to support the client offer. 
• Work with product on the setting of commercial tariffs with particular attention on costs and resource application based on the activities and structures being contemplated. Attend BAC (Business Acceptance Committee) where required, in respect of all new business proposals and validation of the service requirements.
• Stakeholder Management including liaison with various Fund Sponsors, Auditors, Board Directors, Trustees, Regulators and other external and internal bodies on the day to day management of the clients funds. Ensure integration with the wider Private Capital business and good co-ordination of both local and global stakeholders.
• Ensure that the local teams are aware of the global Private Capital community and initiatives and that that they are integrated in to the network and able to participate in cross-location work streams.
• From time to time and only when explicitly stated, to act as an alternate to the Head of Private Capital Client Delivery for governance meetings and empowered as their deputy for clients & external providers.

Team Management

• In line with the BNP Paribas Management Principles, develop the culture and provide leadership and advice to staff responsible for the operational delivery to the client to ensure that the maximum level of efficiency, productivity and client service is developed in line with our strategic ambition.
• Help lead, develop, motivate and retain staff, ensuring proper resource plans are in place for new and existing business working with Senior Management and HR to achieve this. Support the production of career ladders for staff, training and development in line with their personal development and our business strategy. Ensure managers manage their staff with similar objectives of building competency, capability and development alongside their day to day technical production. Build succession planning into the operational model.
• Help shape, build and steer the structure of a growing team giving consideration to the businesses forward looking requirements and client's developing needs whilst maintaining a sustainable, profitable and progressive business. 
• Participate effectively in the recruitment and employee on-boarding process, ensuring that all new joiners receive a positive induction process and that the probation process is conducted appropriately. 
• Identify training needs within your team and liaise appropriately to secure the relevant support to upskill the work force as required.
• Be accountable – and drive accountability within your team - for general management responsibilities such as objective setting, performance and absence management as well as regular team and one to one meetings.

Technical Skills

Essential Requirements

• Excellent management and team building skills with ability to demonstrate leadership.
• Extensive practical experience of Alternative Fund Structures (Private Equity, Debt, Infrastructure, Real Estate etc). 
• Proper and effective accounting skills and good understanding of financial reporting standards (IFRS/UK/US and other GAAP), valuation and accounting disclosure for complex financial instruments. 
• A thorough, detailed knowledge of various Private Capital structures, and the administration and accounting for these structures. 
• Knowledge of valuation of complex financial instruments and understanding of economics behind such transactions.

• A thorough knowledge of the Banks operating platforms for Accounting and Administration ( FIA / MFFA) and how best to utilize the platform to optimize processes and deliver client requirements in a risk managed way

• Familiar with Private Capital Services controls and procedures to ensure compliance and minimize risk.
• Knowledge of industry recommended standards (e.g IPEV, BVCA, ILPA). Interest in developing standards. 
• Ability to articulate structuring documentation into an operational model.    
• Ability to articulate operational requirements into a strategic plan with deliverables. 

Desired Requirements

• Ability to work in a multi-national environment. 
• Positive approach and forward looking thinking taking into account the evolving technical requirements. 

Qualifications & Industry Experience

Essential Requirements

• Professional Accounting Qualification (ACCA/CA). 
• Minimum 10 years experience in Management Role with private equity, real estate funds industry.. 
• An excellent working knowledge of offshore funds and the relevant legislation and regulations e.g Jersey Funds Codes.

Personal Style

Essential Requirements

• Good communicator 
• Leadership
• Team player 
• Ability to share knowledge
• Results Driven 
• Organisational Sensitivity 
• Vision 
• Inspiring and developing others    
• Decisive 
• Ability to draw opinion, seek views, think broadly around the subject matter
• Ability to plan and design change for the better