Job
Description
JOB DESCRIPTION: SmartStream provided Managed Services to dramatically transform the middle and back-office operations of financial institutions. Over 1,500 clients, including more than 70 of the Worlds top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStreams solutions. SmartStream's Fees and Expense Management solution has been developed to address the need to drive savings to the bottom line and to enhance profitability. Supported by best-of-breed technology, TLM Fees and Expense Management allow firms to strategically manage their variable expenses. It does so by using an end-to-end automated process, capable of substantiating brokerage expenses accurately across high transaction volumes and accurate apportionment of variable and fixed fees. SmartStream uses Transaction Fees and Invoicing management (TFIM) and Expense Calculation and integrated Business reporting (EXCALIBUR) two end to end automated platform that supports the expense lifecycle calculation, accrual posting, invoice reconciliation and payments. It manages Banks Brokerage, Clearing, and Exchange (BC&E) expenses through data-driven decision making strategically, provides a global repository of BC&E expense and rate data that can be accessed by various business areas and made available to existing financial systems, allocates BC&E expenses using complex and configurable models thereby enabling a true assessment of business performance net of expenses, captures, independently verifies and pays third-party invoices. It also provides transparent and granular level data to regulators on how, where and by whom orders are executed, ensuring bank optimizes the cost of execution. Provides banks with clear and in-depth understanding of third party vendor fees. Designation: Junior Analyst/ Analyst Job Purpose Reconcile the Broker Statement of Account against the client books to identify breaks at an invoice level. Work with brokers and clients to resolve the SOA disputes Key Outputs/Responsibilities Reconciling the broker statements against the internal books and records to identify gaps and resolution of the same. Provide commentary at an invoice level based on the dispute and assigning/tagging the correct team to take further action Co-ordinate between internal teams and brokers/vendors to communicate the reconciliation results and to raise the disputes Timely follow up on the open actions from different stakeholders to get the latest update till the invoices is removed from the statement. Identify potential escalations based on the outstanding and payments process by internal teams to a specific broker/vendor. Communicating with clients on Open issues with brokers and raise early escalation where required. Perform period closure activities for a complete balance sheet closure. Co-ordinate internally to prepare for the broker calls with specific actions and updates on open invoices from the statements. Prepare reports highlighting the challenges which are specific to clients and brokers. Produce required KPIs to explain the reason for outstanding and follow up actions. Present the Statement of Account slide to our clients during the monthly Governance meetings. Coordinate across all Fee and expense management teams to improve SOA and client reporting. Ensure preparation, collation and distribution of meeting information packs, minutes and reports for SOA meetings Keeping the stakeholders informed of progress and liaising with brokers & banks to close any issues. Work with multiple teams to provide ideas and input into improving the Fee and expense management solution. Knowledge, Skills & Experience: Advanced knowledge of the Brokerage, Market and Clearing Custody fee, Static data, Internal audit and Service level Minimum 2 years of experience in client reporting, management reporting and client communications Ability to work under pressure, and manage own workload within specific timing deadlines Excellent interpersonal skills with proven ability to work collaboratively. Excellent MS office skills including but not limited to MS Excel, Word, Power point, Teams etc. Able to present information, verbally and in writing, in a clear and concise manner, with excellent attention to detail. Experience of working on BI /Tableau/ or any other reporting tool is an advantage Qualifications: Post graduate in any faculty related to Banking and Financial Service industry Competencies: Know the business of Trading fee management. Understanding of Statement of Accounts Effective prioritisation Ability to build good relationships with stakeholders Focus on Delivery and Customer Service Excellent team player Calm, methodical approach to problem solving Cultural Fit: Need to have a can do attitude to problem management. Comfortable in a fast moving environment with multiple customers and tasks. Works well in a busy environment and takes full ownership. Should be a go-getter Focused on continuous improvements and can investigate details. Hardworking and flexible with times (Currently no shifts) Willing to travel
