|Location||Johannesburg, South Africa|
|Date Posted||Sep 15, 2020|
- Responsible for the investment operations function which includes daily cash reconciliations, confirmations and settlement for daily dealing (equities, bonds, money market instruments, currency purchases and offshore trades). Ensuring timeous processing especially for time sensitive trades.
- Process accurate portfolio transfers internally and with the respective custodians. Thorough understanding of the different types of portfolio transfers and tax implications. Ensuring that accurate capturing of Book Costs VS CGT values.
- Assisting various stakeholders within the business as well as auditors with information required on client portfolios and internal processes.
- Help to develop and implement efficient processes and workflows as our business grows and changes.
- Produce daily cash recons and investigate differences.
- Ensure that differences are reconciled promptly.
- Resolve any discrepancies with custodian banks and dealing team.
- Produce weekly recons to identify what differences are still outstanding and for referral to the manager.
- Upload month end bank services charges within a day.
- Upload transaction fees within two days.
- Correct allocation of all bank fees for bulk account recons within two days.
- Monitor expected deposits, notify the PMA’s/PM’s immediately once funds are received and captured to the portfolio.
- Identify the root cause for cash differences and address with the respective areas of the business if needed.
- Ensure daily settlement of all trades.
- Ensure accurate settlement of monthly cash account interest.
- Monitor that investment MANCO trades are processed within 4 days.
- Liaise with the Corporate Actions team for any differences with regards to unit trust distributions or withholding tax discrepancies. Capture any unit trust interest adjustments.
- Liaise with the payments, billing & reporting team for any management fees and stop order discrepancies.
- Refer any bank fee discrepancies to the relevant banking teams.
- Attend to queries promptly in meeting our promise of “before the sun sets” delivery.
- Check and confirm local dealing (Equities, Bonds, Money Market instruments) and instruct the CSDP for settlement.
- Work with the dealing team, onboarding team and the custodian banks to resolve any discrepancies.
- Ensure that all trade amendments are captured speedily.
- Ensure that all BDA accounts are linked by the Onboarding Team.
- Facilitate trade settlement by notifying custodians and brokers to resolve any settlement issues. Act as a liaison between executing dealers and custodian banks.
- Ensure timely settlements of executed trades by ensuring all deals are matched at the custodians and approved on our processing system.
- Process off market trades and instruct settlement at the Custodians.
- Ensure that trades are restricted for embargo portfolios.
- Resolve any queries received from the Custodians speedily to ensure settlement.
- Request set-up for new instruments and check the accuracy thereof. Check interest accruals for all Fixed Deposit instruments.
- Check the daily FX rates and refer for upload.
Offshore Trades & Currency Purchases
- Accurate capturing and releasing against brokers notes on BNYM for foreign trades.
- Requires diligence as trades are time sensitive.
- Ensure spot trades are captured accurately and settled against FX trades placed.
- View trade in the cash statement to ensure the correct effect.
- Ensure that all instructions are understood before proceeding.
- Custodian details checked thoroughly.
- Accurate upload on Custody system for all shares transferred.
- Ensure all shares are matched and released before recording on internal system (FPM).
- Diligence required with regards to take-on at Market Value or Book Cost.
- Thorough knowledge and understanding of various types of share transfers and tax implications.
- Ensure accurate book value adjustments processed.
- Good understanding of liability with regards to Security Transfer Taxes.
- Check the Corporate Actions schedules for instruments on LDT and diarising transfers after record date to arrange with the Counter Party.
- Constant communication with receiving party custodians until completion of all transfers.
- Conduct all the operational activities related to portfolio moves with the prime focus on execution of trades and its settlement to ensure that they are being executed properly.
- Accurate updates to the Portfolio Move Register.
- Thorough check of the effect on all transfers to ensure that accurate monthly reports are produced for clients
Preferred Qualification and Experience
Completed secondary school/high school/A levels/Matric
Tertiary qualification would be an advantage - Diploma :Investment Operations
At least 5 years experience in Investments Operational Support :
- Strong knowledge of industry back office practices associated with an Asset Management environment including asset / investment operations systems and service providers.
- Strong knowledge of industry back office practices associated with portfolio management including Fund Accountants, Custodians, Data Vendors, asset / investment administration systems and service providers.
- Comprehensive knowledge of markets and settlement processes. Excellent time management capabilities and strong prioritisation skills. High level of accuracy required.
- Ability to cope under pressure and meet deadlines. Good communication and interpersonal skills.
- Pro-active and innovative. Solve problems with a sense of urgency in an effective and methodical manner
- Query Resolution - The ability to handle queries effectively and formulate appropriate responses
- Risk Management - Demonstrates knowledge and understanding of risk management methodologies,tools,governance structures and regulatory requirements forgood management of risk
- Training - The experience and skills required to share knowledge and train an employee/s, with the aim to fulfil a goal ,in order to develop specific skills in an enthusiastic, motivating manner
- Accountability and Problem Solving Ability - Adherence to laid down policies and procedures. Quick to identify and act upon potential problems. Immediate solutions to problems by applying thorough sound judgment. Know when to exercise discretion and when to make ‘onthespot’ problem analysis. Refer problems falling outside parameters to the Manager for resolution. Able to take the initiative within limits of authority. Ensure that remedial action taken is done so with the view to optimizing the customer experience whilst not compromising on basic controls and checks which are to be enforced.