FUND ACCOUTING – RECONCILIATIONS
Business Line / Function:
INVESTMENT AND FUND SERVICES OPERATIONS
ASSISTANT MANAGER LEAD/MANAGER
Number of Direct Reports:
Directorship / Registration:
This role is an SME position that requires compulsory formal education with excellent communication skills. In this position, a senior associate performs the role of a full time checker/reviewer also contributing towards processing of reconciliations. Role is to review thoroughly the reconciliations done between bank/out of bank assets Vs ledger accounts by the processor and check if the necessary back-up has been saved correctly for further assimilation to stakeholders. A senior associate will also contribute by bringing in the fresh ideas from previous work experience to the table in this fast changing environment.
- Strive to become a SME (Subject Matter Expert) of the process by acquiring complete knowledge of reconciliations processing across all funds & instruments types.
- Should be able to perform complex reconciliations independently.
- Should be able to perform review function.
- For review function, ensure all breaks are justified and commented correctly, all delays and errors are captured on the tracker. Also, ensure that the reconciliations are closed on reconciliation tool and sign-off is sent to the NAV teams.
- To chase relevant parties for all long pending breaks on a periodic basis. Escalate to manager in case break not resolved despite constant chasers.
- Ensure reconciliations are completed for each NAV calculation.
- Completeness of reconciliations includes:
- Funds reconciled are delivered on time.
- Delay reasons are updated correctly.
- Processor and reviewer time updated on tracker.
- Sign-off sent to the NAV teams based on cut-off agreed.
- Archival of packs done on a daily basis for reconcilitions performed manually. (specific to derivatives reconciliations)
- Ensure to adhere quality SLA of 99% & above while performing reconciliations.
- Ensure to adhere timeliness SLA of 95% & above while performing reconciliations.
- There should be no comebacks from NAV teams on the reconciliations performed by self and team.
- There should be no incidents logged on reconciliations performed by self and team.
- Be proactive in resolving queries and escalate immediately to the manager on any issues/queries/escalations.
- Be proactive in resolving queries of team members and escalate immediately to the supervisor on any issues/queries/escalations.
- Ensure to complete ad-hoc duties which may arise from time to time, mainly on month ends, year-ends and system down-time scenarios.
- Effectively monitor the respective group mail box and respond efficiently to the queries.
- Co-ordinate audit and ORC requests and ensure that it is completed on time.
- Provide AM / AM Leads timely feedback on staff performance by producing timeliness and errors details.
- Provide necessary training (process + product related) to the team members.
- Required to plan leaves in advance as per GSO policies and keep a tab on unplanned leaves for self and the team.
Technical & Behavioral Competencies
- Thorough understanding of all Capital market, Financial Instruments, Investment baking processes and advanced accounting skills .
- Excellent verbal and written communication.
- Strong analytical skills, detail orientation, service commitment, solid organizational and interpersonal skills.
- Ability to work independently, as well as in a team environment, prioritizes multiple tasks and meets strict deadlines.
- Proficient in Microsoft Office Applications. Strong MS Excel, MS Word, MS PowerPoint skills required.
- Should be self-motivated and energetic.
- Should be able to train staff.
- Candidates should be willing and flexible to work in any shifts.
Specific Qualifications (if required)
- Graduate/Post Graduate (preferably in finance).
- Candidates should have relevant Fund accounting reconciliations or NAV experience.
- Working knowledge on Intellimatch tool an advantage (Specific for Paris/Spain recon process).
Ability to share / pass on knowledge
Ability to collaborate / Teamwork
Communication skills - oral & written
Creativity & Innovation / Problem solving
Ability to understand, explain and support change
Ability to develop and adapt a process
Ability to manage / facilitate a meeting, seminar, committee, training…
Bachelor Degree or equivalent
At least 3 years