Take the role in MSS to support service delivery of a range of Trade Processing for Fund Administration or Middle Office functions including but not limited to the following:
- Process trade matching and settlement services in respect of Investment Operations activities by ensuring all securities trades are matched to brokers trade confirmations and instructed to clients custodians for settlement within strict deadlines
- Transaction Management Team is responsible for Trade capture, exception management and service routing of trades to downstream systems along with adding and settlement of cash transactions to accounting.
- Trade Instructions are received STP or uploaded manually or through Macros/EUCs to accounting for instructions received in generic mailboxes or SFTP folder from Client/FMs.
- Diagnostics reports are run which includes investigation, handling any exceptions and query for Trade rejects within the PLA turnaround time.
- The services include sending for Asset Set Up to Data OPS Team and resolving queries received in TLM platform.
- Cash transactions are specific journals including expenses, fees, monthly interest & FXs. Instructions are received from Internal teams, Clients, Brokers, Fund Managers, Transfer Agency and Custodians.
- The Team is also responsible for timely Cash Monitoring, Input of Journals, OD investigation and notification to FM, re-imbursement and payments, monitoring balances, Cash projection reporting and writing off small residual balances.
- Transaction Management comprises of both APAC and UK jurisdictions.
Principal Accountabilities:
Key activities and decision making areas
Typical KPIs and Targets
Impact on the Business
Process transactions and produce deliverables that ensure the realisation of pre-determined delivery timeline:
- Perform the Investment Operations activities effectively and efficiently with support provided to all MSS offices
- Assist with line manager to maximise system usage and when gaps are identified, drive procedural and system changes
- Able to work under pressure and within set time frames
- Accountable for own day-to-day performance and meeting tight deadlines.
- Perform securities processing functions in a timely and accurate manner
- Perform trade matching, coordinate booking and exception checking
- Identify and resolve trade discrepancies with brokers/clients
- Engage with brokers and custodians to resolve issues around unmatched, failing or failed trades
- Assist with line manager in reducing the number of trades that require amendment by our client traders or rejection to the Brokers
- Delivery transformation activities to SSOs
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- Perform securities processing functions accurately within agreed timescales & in accordance with procedures & controls
- Prioritise competing demands & deadlines effectively making full use of all available resources
- Document business requirements & procedures
- Assist with line manager to ensure seamless new clients take on
- Ensure all securities settlement instructions are matched by the custodian with the broker and support amendments to cancellations and rebooking trades
- To monitor the settlement status through receiving the Pre and Post settlement report from custodians; perform investigation whenever necessary
- Adhere to compliance standards and Group Policies/Procedures and apply Anti-Money laundering and KYC criteria to work processes
- Ensure prompt resolution of all reconciliation items, providing clear, concise & relevant documentation to support outstanding items.
- Ensure prompt investigation and resolution of unmatched trades and pending mismatches
- Ensure timely & accurate processing of collateral margin calls
- Escalation of disputes in line with client SLA
- Ensure successful delivery of Transformation projects
Customers / Stakeholders
- Provide expert advice, guidance, query handling to meet client needs and expectations
- Maintain effective inter-departmental and external communication
- Maintain on-going good working relationship with clients, prime brokers and clearing brokers
- Communicate actions to the relevant parties (e.g. Client Dealer Support, Vendors, Brokers and Custodians etc.)
- Communicate with SSO management and staff
- Ensure the realization of client service agreement.
- Maintain zero rate of complaint and error
- Appropriate use of communication channels and oral & written communication is clear, concise & relevant
- Make good judgement calls on the appropriateness of action to resolve servicing problems & complaints
- Provide feedback to line manager on broker and custodian performance
- Provide feedback to SSOs in respect of Transformation Activities
Leadership & Teamwork
- Establish good internal working relationship and identify individual training needs
- Take ownership of tasks/issues and ensure these are all followed through to completion.
- Provide cover for other team members in their absence, be available as first level of escalation and support for queries from internal departments and external contacts
- Prioritize and set own work deadlines
- Conduct training to new joiners coupled with on the job coaching and assess individuals training priorities
- Co-operate to deliver an effective and efficient task allocation within the team
- Escalate any issues to line manager
Operational Effectiveness & Control
Run the operation in adherence to internal procedures, key controls and risk prevention measures
- Ensure that the current procedures and checklists comply with the requirements of Audit, FIM, external regulators and Operations Risk and Control.
- Adhere to predefined procedures and compliance requirements in daily operation
- Re-assess continually the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructures and the impact of new technology
- Avoid business risks arising from errors/omissions when placing trades
- Timely reporting/escalation of risks/issues to relevant parties with appropriate remedial action
- No dispensations of FIM/compliance requirements
Major Challenges
The job holder is responsible to support the investment operation and business projects to ensure effective and efficient delivery of Transaction Management. The expansion of the team will initially involve a considerable amount of training to be set up and delivered to the team.
The jobholder is responsible for ensuring all Securities & Derivative Trades for a specific geographical area are confirmed within deadlines, sent to clients’ custodians within deadlines and pre matched by the client’s custodian and the broker. These tasks are performed in accordance with defined procedures to a level of competence, which does not require direct supervision. The role is required to make or escalate business decisions based on established processes and procedures.
The job holder will deal with client contacts as well as the clients' brokers and custodian banks, and is responsible for ensuring that all settlement issues are resolved satisfactorily, within agreed procedures/guidelines.
Discrepancy queries must be dealt with promptly and followed through to a satisfactory conclusion, to avoid the risk of overdraft claims. Failure to issue accurate instructions within settlement deadlines and to adhere rigidly to the job controls could result in significant financial loss to the company. The ability to cope with varying workloads dependant on trading peaks is essential.
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Role Context
The jobholder is required to work with high accuracy and timeliness in meeting the market deadlines and client’s service level agreement and to assist with reviewing the work outputs. Where a risk event or an operational issue is found, timely reporting/escalation of issues is required to the immediate reporting line.
The nature of the role requires a close working contact with SSO/Cash Management / Settlement / Pricing team and also with external parties like clearing brokers and custodians.
Management of Risk
- Is aware of operational/business risks arising from errors/omissions when running the investment operation
- Responsible for delivering the Middle Office service and observing the service level agreements
- Strictly follow the FIM requirements in the conduct of operation
Observation of Internal Controls
- Apply applicable internal procedures, key controls & risk prevention measures relating to Investment Operations activities
- Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, especially the Investment Operations function.
Knowledge & Experience / Qualifications (
Intermediate experience working within an Investment Management, Brokerage and /or Custody environment is essential to perform this role, with specific knowledge and experience of the following:
- Over 3 years of diverse working experience in Fund Accounting or Middle Office or Global Market operations including strong process management skills and system implementation skills within an Asset Manager or equivalent market provider of Asset Management outsourced Operations support.
- Proven experience in managing the Post-Trade life cycle events using the seamless Omgeo Central Trade Manager (CTM) solution and good understanding of Omgeo CTM & ALERT
- A working knowledge of Securities Trading confirmation and settlement procedures and market practice, including the use of Electronic Trade Confirmations and SWIFT settlement message types.
- Good knowledge of Middle Office operation preferably with a hands-on knowledge to operate Aladdin, Calypso, Multifonds, Markit EDM and TradeFlow,
- Knowledge of OTC Derivative products and all asset classes
- Good understanding of the size and scope and its senior management
- Good understanding of Fund Service model (locations, departments, products, clients, and organisation within MSS) and the role of the Middle Office in it's business context
- Good understanding of relevant anti-money laundering legislation and how it impacts the Fund Service model
- A high level of client servicing & interpersonal skills
- Good communicator, both verbally and in writing
- Self motivated with excellent planning, analytical and organizing skills
- Ability to prioritize workloads and work quickly & accurately with good attention to details
- A good team player with good adaptability and a flexible attitude
- Able to work in a diverse environment with good interpersonal and negotiation skills
- Strong business sense with good analytical and project management skills
- Creative thinker and change agent
- Able to demonstrate an attention to details
