Fund Administrator - CMA Intern

Opening date 03-May-2024 Closing date 09-May-2024 Job description

Business: Securities Services, GBM Service Centre, Kolkata - India

Open positions:1

Role Title:Fund Administrator - Valuation & Reporting Asia

Global Career Band: 8

Location (Country / City ):Kolkata - India

Recruiter Name : Srinivasan S

Why join us?

• Valuation and Reporting team is an integral part of the Funds services business under Securities Services. The department is responsible for production and validation of Net Asset Value and preparation of Financial Statements comprising of Balance Sheet, Profit and Loss Account, Cash Flow Statement, Notes on Accounts and other Annexures to Annual or Interim Reports like Statement of Investments, Statement of Changes in Capital etc. for different Alternate / Traditional set of Funds such as hedge funds, mutual funds, fund of funds, ETF, SWF etc. administered by Securities Services across multiple regions and locations throughout Europe and Asia Pacific.
• Fund administration, valuation and pricing service is delivered through comprehensive technology infrastructure utilizing Securities Service's global operating model.

Business specifications for this role outlined below:

• Product Range / functions would include Valuations & Statutory Reporting.
• Involvement in processing and technical aspects of the business.
• Responsible functionally across multiple jurisdictions (where applicable) serviced out of Kolkata City Office.
• Increasing complexity. Turnover 20%, 3- 6-month lead time to achieve threshold competency for new hires.

The Opportunity:

• The incumbent would be responsible to prepare and validate accurate GAV/NAV and financial statements with highest quality standard and within agreed timelines for a portfolio of different funds administered by Securities Services globally.
• Individual will be responsible for supporting Traditional/ Alternate Fund Services - Accounting & Valuation & Statutory
• Reporting -for single or multiple clients & locations.

Major Challenges:

• The major challenge for this role is to continuously deliver within the specified time limit with minimum or no errors. The individual will have to complete all the activities of the assigned funds within the set time limit and ensure that the NAV pack is delivered to the stakeholders within the PLA.
• The individual needs to be flexible to work shifts and respond to additional business need if required.
• Be flexible to adopt in different working environment with counter parts across the globe.

What you'll do:

Customers / Stakeholders

• Engage in preparation and validation of accurate NAV and Financial statements to ensure highest quality of service to business area and stakeholders thereby maintaining green KPI across clients/process.
• Ensure that all operational functions within the scope of NAV production and Statutory Reporting are performed as per laid down standard operating procedures and PLAs.The same is detailed below in the next three points.
• Complete all activities for NAV calculation or Validation such as pricing, resolution of breaks, posting accounting entries etc. accurately in the accounting system.
• In terms of the Statutory Reporting scope of work, individual is required to involve in Pre-Preparation Activities (including Master Setups, if applicable). This includes Roll Forwards, Tallying the last audited accounts with the last worked upon accounts and identifying and reconciling the differences by application of accounting concepts and ability to relate disclosures with the Accounting Standards.
• Preparing Financial Statements in accordance with local legal requirements and relevant accounting standards for the respective country, i.e. IFRS or US GAAP or Local GAAPs as applicable and within strict timelines. This would include Preparation of Balance Sheet, Income statement, cash flow (if required), relevant working papers, notes to accounts, Schedule of Investments etc. based on the reports extracted from the various accounting platforms, previous years signed accounts, prospectus, board minutes etc.
• Be responsive to all to ad-hoc queries from Business Partners/Stake Holders and ensure nil complaints.
• Being proactive in identifying and escalating any issues/challenges to appropriate parties.

Leadership & Teamwork

• Undertake /conduct training/ cross training for self as well as new joiners to develop skill & improve knowledge levels. Perform UAT testing as and when required.
• Perform any additional responsibilities that may be required by the manager in support of specific projects, on-going management and development of the process.
• Being proactive in identifying root cause for process related challenges and share qualitative resolution.
• Individual level of engagement, participation and support to be provided for all initiatives undertaken

Operational Effectiveness and Control

• Updating all daily MIS/trackers as required by the process.
• Enhancements to Job-Aid Matrix, SOP, process notes, checklists, KPI and internal processes as and when required.
• Complete all Mandatory trainings as and when required.
• Ensure timely follow up on the open & outstanding issues that hinder the valuation. Ensure, Escalation Matrix is followed as per agreed for business locations & city office Kolkata.
• Undertake/participate in process improvement projects for enhancement in quality and/or timeliness thereby leading to efficiency.
• Required to adhere to process and FIM guidelines to ensure NIL impact to the business. Any exceptions, failures, inaccuracies or delays could potentially result in financial loss, regulatory impact, reputational damage, audit findings/FIM breach and increased operational risk.

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