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Our client, a City based MultiAsset fund manager is seeking a highly experienced Investment Operations person with 8 years minimum experience of fund operations, security settlements and various other duties. They are seeking a self starter who can join the team confidently and hit the ground running. Current AUM is circa £10+ billion with over 170 employees in the UK.
Overall Job Purpose
- Oversight with the tema for our outsourced custody and middle/back-office functions responsible for trade processing, matching and settlement; security reconciliations and standing data maintenance, all within agreed quality, timing, and output targets, together with NAV reconciliation (investment trusts) and Corporate Actions.
- Responsible for supporting trading desk and fund managers. React to and resolve issues as and when they arise, so must have a thorough understanding of the end-to-end investment management process.
- Manage and deliver projects as directed by the Senior Investment Services Manager and the Head of Investment Services.
- Act as cover / support for the Head of Investment Services - Fixed Income during periods of absence / busy periods.
General Support
- Support Senior Investment Services Manager and Head of Investment Services with their responsibilities as required.
- Implement, manage and contribute towards projects as required (i.e. system, product and regulatory changes).
- Act as a subject matter expert for custody and middle/back-office issues.
- Contribute to oversight program for all functions carried out by third party vendors.
- Provide support to the Head of Investment Services - Fixed Income
Middle Office
- Review daily reconciliation of stock and cash between Bloomberg AIM and NT IOO records and assist in the investigation of breaks where necessary.
- Daily portfolio reconciliation against the fund administrators / custodian NAV reports; investigation of all differences outside of agreed tolerance levels, updating of cash positions on Bloomberg AIM to agree to NAV reports (investment trusts)
- Any other reconciliation requirements (e.g. structured product pricing).
- Monitoring all aspects of derivative lifecycle (ETF and OTC).
- Investigate and resolve any breaks with prime brokers and fund administrators (CFD trading).
- Ensure that all regulatory reporting is carried out either internally or by outsource partners accurately and within deadlines.
- Monitor oversight of daily Bloomberg RHUB function, including management of periodic reconciliation and maintenance of associated issues log.
- Respond to queries from internal and external partners and clients and escalate where necessary to senior managers.
- Instruction of Investment Manager decisions for all non-mandatory corporate actions to third party administrator / custodian.
- Completion and maintenance of tax documentation (e.g. W-8BEN-E).
- Production of Internal MI as requested.
- Monitoring trade flow to outsourced middle office.
- Process security and FX trades; instruct settlement of trade transactions in line with the underlying fund’s valuation points and reporting requirements.
- Utilising CTM OMGEO, monitor trade matching process, check output, record unmatched items and then follow up (investment trusts).
- Send trade instructions to fund administrator via web portal upload or email and ensure all transaction cut-off periods are met (investment trusts).
- Issue settlement instructions for trades (utilising CTM OMGEO, web portal upload or via fax) and other transaction types to custodian within agreed timescales (investment trusts).
- Match security trades based on details received from fund managers and brokers; resolve trade discrepancies with brokers.
- Liaise internally with Dealing Desk to update trades; check output to ensure that details are accurately reflected onto the portfolios.
- Follow up queries with client / brokers; daily check of failed trades information received from custodian as well as investigating interest claims that have been received.
- Ensure trade confirmations where required, are received from brokers.
- Process fund payments, notifying fund managers of cash movements.
- Process and submission of placing / sub-underwriting participation documentation, including onward reporting to fund administrators / custodians for settlement & inclusion in NAV(s) where applicable.
- Reconciliation of month end financing fees, interest (CFD trading).
- Month end stock reconciliations to custodian records (investment trusts/seg mandates).
