BNP Paribas Securities Services is a multi-asset servicing specialist with local expertise in 35 markets around the world and a global reach covering over 90 markets. This extensive network enables us to provide our institutional investor clients with the connectivity and local knowledge they need to navigate change in a fast-moving world.
As of 30 June 2021, BNP Paribas Securities Services had $14.3 trillion in assets under custody, $2.8 trillion in assets under administration, 9,248 funds administered and over 10,380 employees of more than 100 nationalities.
Business Area / Department Overview
The Fund Administration Department is comprised of a number of different functions responsible for Daily Net Asset Value (NAV) Production, taxation, effective yield accounting and for Statutory and Financial Statements reporting services for a range of fund types including UK Open ended Investment Companies, a Property authorised investment fund, Unit Trusts, UK administered Luxembourg SICAVs and life & pension funds.
The Fund Administration team within the UK Fund Accounting department act as the guardians of all UK open ended funds responsible for the NAV control framework to ensure timeliness and accuracy of external NAV service delivery to all UK clients. A further key output from the fund owner teams is validated fund trial balance data to ensure smooth transition to the financial reporting production process and provision of data to external auditors & trustees.
Purpose & Scope of Role
To contribute to the successful delivery of agreed deliverables in accordance with client service level agreements. This role is responsible for the monitoring, review and sign off of work completed by other team members and client deliverables.
Key Responsibilities of role
- To meet client KPI’s and service delivery commitments
- To take ownership for review and sign-off of team deliverables including:
- Daily Net Asset Value (NAV) calculations
- Year end and interim financial statements
- Distribution calculations
- Monthly trustee / control packs
- Management service charge calculations
- Yield calculations
- Total expense ratios
- ONS Returns
- Timely completion of internal team management information
- Participate in client and internal change activity as required ensuring no detrimental impact to client service delivery
- Day to day production contact with Clients, Auditors, Trustees, Custodians and other departments within BNP Paribas Securities Services
- Support Assistant Manager in embedding a culture of fund ownership providing for end to end knowledge and understanding
- Manage business as usual client queries
Risk and Control
- Assess team processes to improve efficiency, control and to reduce risk
- Support both Manager and Assistant Manager in ensuring all significant activities are documented within procedures, kept up-to-date and recorded on the procedure database
- Support both Manager and Assistant Manager in ensuring all checklists utilised in review and sign off clearly document controls and are kept up-to-date
- Timely escalation of any issues to Assistant Manager
- Corrective and preventative action if deadlines / quality standards are at risk
- Maintaining training and continuing competency (T&C)
- Provision of feedback to Assistant Managers and Managers on the performance of Fund Accountants.
- Provision of training to Fund Accountants and new starts.
- Excellent planning and organisation skills
- Excellent communication and interpersonal skills
- Mentoring and coaching skills
- Delegation skills
- Solid numerical skills and accounting knowledge
- Good problem solving skills
- Time management skills
- Computer literacy including spreadsheet skills
- Being responsible, reliable and accountable
- Mix of Fund Accounting and NAV experience
- pControl experience or previous exposure
Qualifications/experience required for the role:
- Financial services background
- IOC or equivalent professional qualification– If not already completed would be expected to study towards.
- Professional accounting qualification
BNP Paribas promotes equality of opportunity and is committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation.
As an employee with BNP Paribas Securities Services, we want to make sure that you are rewarded for your commitment. As such, you will be entitled to our award winning benefits package which includes home working for up to 50% of your contracted hours, a generous holiday allowance of at least 34 days (including bank holidays), a non-contributory pension of 10%, private healthcare and GP service all as standard, along with a number of personal insurances such as income protection, life assurance and personal accident insurance. We believe in ensuring all our employees have a positive work life balance and so in addition to the core benefits you will also have access to a variety of flexible lifestyle benefits including dental cover, cycle to work schemes, season ticket loans and reduced cinema and gym membership to name a few.