Head Of Middle Office

Through our client-facing brands and our other specialist brands, Momentum Group enables business and people from all walks of life to achieve their financial goals and life aspirations. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Group provides practical financial solutions for people, communities and businesses.

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Role Purpose

The purpose of the role is to enable a world class middle office function with multiple investments capabilities that will provide an integral link between the investment management functions and Operations by controlling and optimizing investment value creation capabilities through performance analytics, valuations oversight, product control, and Implementation & transition management within Momentum Investments.

Requirements

• Postgraduate qualification in Finance, Accounting , Investments or related degree
• CA(SA) qualification preferred
• Chartered Financial Analyst (CFA) , Financial Risk Manager or similar designation.
• 7 to 10 years' experience in the financial industry, specifically instrument valuations, performance reporting and transitions/implementation management.
• 5 years’ experience in management and leadership roles will be advantageous.
• Advanced Excel skills.
• Strong commercial business acumen.
• Product control experience in Investment Banking Product Control Function with a focus on exotic trades/derivatives.

Duties & Responsibilities

Valuation oversight

• Accountable for independent oversight, governance, accuracy, integrity, and risk management of all instrument valuation activities across investment portfolios, enabling informed investment decision-making, regulatory compliance, and reliable financial reporting:
• Ensure the accuracy, integrity, and appropriateness of valuations through robust independent pricing controls and oversight.
• Lead valuation related projects, system enhancements, automation initiatives and process improvement programmes.
• Reviewing prepared daily/weekly/monthly procedures and controls which monitor the prices utilized for securities held in the funds
• Manage the delivery of valuation, pricing, benchmark, and exposure information to internal and external stakeholders.
• Oversee and monitor the quality, accuracy and completeness of instrument valuation and static data, including classifications.
• Oversee the calculation and validation of benchmark returns used for investment performance oversight.
• Lead the investigation, escalation, and resolution of pricing discrepancies, valuation exceptions, and market-related valuation events.
• Maintain and continuously enhance valuation policies, procedures, controls, and governance standards.
• Conducting research and analysis of complex security pricing issues, market events and industry best practice.
• Calculating and reviewing pricing determinations, when necessary.
• Analysing and mitigating the risks associated with the functions of valuations.
• Accountable and driving the preparation, delivery and review of materials presented to the Valuation Committee.
• Taking the lead in presentations during the Valuation Committee.

Portfolio Analytics

The Middle Office provides portfolio analytics to the broader Investment Team. The team is integrated to empower the investment decision making process and therefore empower the end client. The Middle office aims to service direct capabilities as well as portfolio solutions and works closely with Investment Analysts and Portfolio Managers. The Head of Middle Office will be accountable and responsible for the following functions:

• Ensure accurate and timely performance measurement, reporting and performance attribution to all internal and external stakeholders.
• Oversee the investigation of complex portfolio performance and performance attribution related queries received from internal and external stakeholders.
• Oversee portfolio risk measurement and reporting.
• Oversee competitor and peer group analysis to inform investment positioning and reporting to Exco.
• Coordinate portfolio management reporting inputs and requirements ensuring it meets stakeholder requirements.
• Deliver timely and accurate benchmark and peer group performance reporting to senior management and Exco.
• Lead and sponsor strategic performance-related projects across the business, ensuring successful delivery, stakeholder alignment, and measurable improvements in investment analytics and reporting capabilities.
• Continuously improve and streamline performance reporting processes through data automation, dashboard development and improved report formatting.

Implementation & transitions

The implementation team is responsible for large transitions and co-ordinates and supports the investment decision implementation and client and investment manager take on and termination processes, ensuring delivery of key business practices, processes and procedures and use of best-practice methodologies. The Head of Middle Office will:

• Ensure smooth and accurate implementation of portfolio events with minimal disruption to investment outcomes
• Oversee the development and execution of comprehensive transition plans and timelines in collaboration with portfolio managers, administration teams, and key stakeholders such as compliance, fees, legal, performance, and risk.
• Provide technical advice and expertise regarding portfolio construction and fee implementation to support internal stakeholders including, but not limited to, creating new Interlink and related group reporting application static.
• Formalized link between above capability and the reporting tool (Interlink).
• Ensuring mandated targets provided by the mandate owners and Momentum Investments are accurately maintained.
• Ensure effective communication and coordination between all relevant stakeholders.
• Designing and implementing appropriate processes and controls to ensure portfolios are rebalanced according to instructions.
• Ensuring asset allocation views are implemented in line with client and portfolio resolutions instructed by mandate owners and Momentum Investments.
• Participate in and contribute to strategic initiatives across the Group.
• Lead the design, development, and implementation of new capabilities, systems, and operational processes that enhance business effectiveness and operational efficiency

Management and Leadership

• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service through an effective operating model.
• Keep abreast of legislation and best practices in order to gain insights on optimal capabilities and value creation in retention and new business initiatives.
• Keep abreast of current market developments and industry best practices.
• Keep abreast of emerging technology and digital trends that can lead to operational efficiencies.
• Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.
• Demonstrate exemplary leadership behaviour, through personal involvement, guidance, commitment, and dedication in support of organisational values.
• Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement, and cohesiveness.
• Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.
• Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.
• Effectively manage performance within the team to ensure business objectives are achieved.
• Encourage innovation, change agility and collaboration within the team.
• Compile and control budgets to minimise expenditure in alignment with tactical delivery plans.
• Implement risk management, governance, compliance policies and ensure there are documented procedures in own practice area, to identify and manage governance and risk exposure liability.
• Manage and coordinate all reviews by Internal audit, External audit and any other assurance providers.
• Promote and adhere to the Momentum Metropolitan Holdings Limited values: Accountability, Diversity, Excellence, Innovation, Integrity and Teamwork.

Competencies

• Business Acumen
• Motivating and Inspiring Team
• Leads Change and Innovation
• Drive for Results
• Customer/ Stakeholder Commitment
• Collaboration
• Impact and Influence
• Self-Awareness and Insight
• Diversity and Inclusivenss
• Growing Talent