Responsible for the firms fund accounting and pricing activities. Activities will be outsourced so the role is one of oversight. Therefore, the individual will ensure that daily NAV’s are produced in an accurate and timely manner and that interim and annual report and accounts are accurate and timely whilst overseeing the service provider.
● Oversee outsourced pricing and fund accounting activities currently provided by the sole service provider
● Acts as a central point of contact for all fund accounting, pricing questions and issues
● Review all fund expense payments and investigate items, as necessary. Produced an annual expense budget and monitor actual versus forecasted numbers. Produce regular fund expense management information for the firm's management committee. Implement effective accrual postings
● Maintained detailed and up-to-date portfolio of holdings data and associated accounting treatments
● Manage the funds’ annual and interim report and accountant production process
● Act as the central process owner and co-ordinate internal, third party
administrator and fund auditor activities to ensure deliveries are made in
accordance with agreed timescales and accounting standards
● Provide tailored financial reports and MI to other entities, regulators and
boards/committees as required
● Perform on-site thematic and risk-based audits of outsourced fund accounting
services provided by third party administrators.
● Provide a range of cash, stock and treasury reconciliations as part of the
third-party administrator oversight process e.g. bank account reviews, cash and stock breaks, stale/static prices, collateral oversight, OCF projections, rebates and synthetic OCF calculations)
● Create and maintain internal processes and procedures for the full spectrum of activities covered by the role.
Key performance Indicators:
● Ensure daily NAVs are produced in a timely and accurate manner and in accordance with the prevailing regulations
● Ensure all fund expenses have been correctly authorised, accrued and are permitted by the prospectus
● Ensure the firms pricing policy is effectively applied, and any exceptions fully investigated
● Ensure the firm and the third-party administrators’ fund accounting services are fully documented
● Ensure fund accounting activities are delivered in accordance with the agreed service standard agreements and associated commercial terms
● Ensure the fund auditors activities are performed in accordance with the agreed service standards, prospectus and prevailing regulations
● Ensure that the fair treatment of customers is at the centre of any decisions by maintaining a good understanding of industry best practice with regards to conduct risk and TCF
● Valuation Manager (technical SME)
● Act as a relationship manager and business owner for the outsourced fund
accounting service provider.
● Manage the Fund Accounting Assistant
● Manage the Fund Auditor relationship
● Act as the relationship manager and business owner for the investment
manager’s post-trade dealing and settlement transactions and data flows
● Act as the data owner with all third-party data vendors.
● Act as the valuation operations primary contact and business owner. The jobholder will be expected to effectively identify and escalate FVP issues, communication with valuation committee members, produce relevant management information, provide technical advice and execute the agreed strategies, processes and approached
● Acts as a key stakeholder within the valuation and pricing oversight committee making pricing decisions as required
Skills and Requirements:
● 15 years Collective Investment Scheme fund accounting experience
● Detailed UK Generally Accepted Principles (GAAP) knowledge
● In-depth Financial Conduct Authority regulation and best practice experience.
● New fund launches, corporate actions.
● Attending Board and Committee meetings to represent areas of responsibility.
● Detailed knowledge of investment assets, portfolio management techniques, risk
models and fair valuation approaches.
● Experienced in managing a large outsourced fund accounting service provider.
● Relevant FCA Handbook chapters; COLL, SYSC.
● Highly numerate.
● Reasoned decision maker.
● Financial modelling and reporting skills.
● Evaluate and articulate data and analysis to internal and external stakeholders.
● Strong attention to detail.
● In-depth Excel spreadsheets skills.
● Good team working skills.
● Self-sufficient and adaptable.