Manager - UK Fund Accounting (Open Ended)

The Apex Group was established in Bermuda in 2003 and is now one of the world’s largest fund administration and middle office solutions providers.

Our business is unique in its ability to reach globally, service locally and provide cross-jurisdictional services. With our clients at the heart of everything we do, our hard-working team has successfully delivered on an unprecedented growth and transformation journey, and we are now represented by over circa 13,000 employees across 112 offices worldwide.Your career with us should reflect your energy and passion.

That’s why, at Apex Group, we will do more than simply ‘empower’ you. We will work to supercharge your unique skills and experience.

Take the lead and we’ll give you the support you need to be at the top of your game. And we offer you the freedom to be a positive disrupter and turn big ideas into bold, industry-changing realities.

For our business, for clients, and for you

Summary Of The Position

The successful candidate will manage a team of fund accountants who will perform the accounting and administration for all UK funds serviced from South Africa on InvestOne. The individual will be required to oversee the teams daily tasks to ensure all deliverables are produced and dispatched on time in accordance with client service level agreements (SLA) and in line with Apex operational and risk quality standards.

To manage the teams and all functional deliverables under the UK Fund Accounting business unit, the role will be focused, but not limited to, the following supervisory responsibilities that include: resource and task planning, recruitment of appropriate experienced staff to effectively discharge functional activities, resolve operational queries, review fund accountants daily/weekly/monthly deliverables, manage various third party expectations, escalate operational issues, while ensuring operational processes are followed and quality standards adhered to.

Apex is looking for a self-motivated and thoughtful, experienced leader to lead, recruit, supervise, appraise, train and coach Fund Accounting teams to maximize this business unit operational efficiencies. To achieve this, the individual will be required to assist with the design, implementation and maintenance of an operating model that continues to meet regulatory standards, client SLA terms, while adhering to quality standards. Apex is seeking an individual with extensive industry experience and UK fund accounting knowledge.

Outline Of Main Duties And Responsibilities

The successful candidate will be responsible for the following main functional responsibilities:

Fund Reporting:

• Preparation of trustee reporting packs for all regulated funds within agreed SLA.
• Distribution of trustee reporting packs to the depository
• Manage queries related to trustee certificates and letters, and preparing board papers as required.
• Drive operational efficiency through automation initiatives, improving controls and training.
• Monitor and manage the performance of the team as well as individual team members.
• Build strong relationships internally and externally.
• Ensure audit findings and depository queries are appropriately responded to and addressed in a timely manner.
• Ensure accurate calculation of fund valuations through oversight reviews of cash and scrip reconciliations, expense accruals and reporting;
  
  

Operational Management:

• Manage the output of the team according to the monthly production schedule.
• Plan the team member allocations to ensure all deliverables meet SLA timelines;
• Manage output in accordance with monthly production schedule;
• Monitor service delivery to SLAs and client expectations to ensure timely and accurate reporting and client queries addressed;
• Actively manage issues and risks to resolution for all escalated matters in a timely and efficient manner;
• Co-coordinate and review all processes, checklists and controls to ensure accuracy and completeness of processes and controls followed.
• Review operational processes periodically to ensure a smooth operation, adherence to quality standards and to identify process gaps and documentation requiring updates;
• Identify, design and implement process efficiencies through automation of processes.
• Coordinate performance management of each team member, that includes setting up KPIs that aligns with job descriptions, focus on staff development and provide performance feedback;
• Participate and lead training with the assistance of senior specialists (where needed) to allow knowledge share within the teams;
• Meet with UK oversight managers monthly to discuss operational open items and client satisfaction feedback where operating model includes delegation of services to the South African office.
• Provide mentorship and motivation to staff to drive a high-performance outputs from teams.
  
  

Relationship Management:

• Review SLA to ensure terms of agreements are adhered to with external and internal clients;
• Establish and maintain key relationships, particularly with internal counterparts in other functional units, across offices in the same and in other jurisdictions.
• Establish and maintain strong relationships with external clients to ensure good client satisfaction levels are maintained.
• Drive and coordinate high-performance from the teams and collaborate with other operational team managers to enable effective delivery and resolution of all matters.
• Hold team leaders accountable for delivery and results.
  
  

Risk Management:

• Ensuring that appropriate operational controls are in place to mitigate risk.
• Log and review incidents to ensure appropriate corrective actions are recorded and implemented to mitigate risk from reoccurring.
• Drive continuous improvement projects in your area with assistance from allocated senior specialists;
• Assess opportunities for improved efficiencies and reduced overhead in existing processes, including new technologies and tools;
• Assess implications of operational controls within the domain on the ISAE 3402.
  
  

Project management:

• Manage delivery of all inputs required from UK fund accounting team as part of client onboarding and implementation process to ensure a smooth go-live transition.
• Manage allocation of appropriate resources to support client-implementation and go-live transition.
• Implement checks and controls with assistance of senior specialist after operational take-on of new clients to mitigate risk.
• Provide management assistance on business related projects that can include but are not limited to system migrations, client take-on’s, process improvements as well as the integration of business processes between offices.
• Motivate staff and identify training and development needs;
  
  

Skills And Experience Required

The successful candidate will require:

• A relevant tertiary business qualification (minimum Honors B.Com or equivalent);
• At least 7 years’ experience in Asset Management portfolio administration and pricing;
• Minimum of 3 years in a management role in Asset Management portfolio administration and pricing;
• Strong all-round understanding and experience of fund accounting processes within back office administration;
• Good knowledge of exchange traded and OTC derivatives as well as other asset classes e.g. Equities, Fixed Interest and FX;
• Confident & enthusiastic, and have a structured approach to work;
• Strong communication skills (written & verbal);
• Ability to work in a pressurized environment on a regular basis;
• A can-do attitude and ability to make decisions assertively.
• Individual need to be self-motivated, conscientious and hard-working to meet tight deadlines and committed to deliver work of a high standard.
• Essential that the candidate is reliable and flexible as far as working hours are concerned;
• Knowledge and experience of InvestOne is essential;
• Experience of NX Manager and Xceptor is an advantage;
• Technical knowledge of the UK Open-Ended fund administration SLA and operational process and reporting requirements would be advantageous.
• An advanced level of experience in using Excel is needed.
  
  

Reporting structure

The Manager - UK Fund Accounting will report to the Senior Manager – UK Operations.

Disclaimer: Unsolicited CVs sent to Apex (Talent Acquisition Team or Hiring Managers) by recruitment agencies will not be accepted for this position. Apex operates a direct sourcing model and where agency assistance is required, the Talent Acquisition team will engage directly with our exclusive recruitment partners.