Fund Accounting Oversight - Client Services (London)

JP Morgan

Location: Greater London

Job Type: Full time

Last updated

Be brave, not perfect.
- Reshma Saujani

The primary responsibility of the candidate will be to manage the UK Product Administration team in maintaining a robust and efficient control model in an extremely dynamic environment, with principal focus on the daily NAV oversight process across our UK Fund Range (NAV review, portfolio valuation, swing pricing and swing factors, fair valuation requirements, interactions with fund managers, fund administrators/vendors). The role will report into the head of the department and the candidate will need flexibility in covering a variety of tasks including the operational control model for our Investment Trust range.

In addition, the team are the primary contact for our Depository.

The UK Product Administration deals with various Fund initiatives with the responsibility of ensuring these are seamlessly managed into BAU.

UK Product Administration are the window into Fund Accounting for multiple teams across JPMAM providing a point of escalation for service-related issues for both FA and Depositories.

The role is highly visible within the organisation and requires working collaboratively across functions including: Portfolio Management, Risk, Legal, Compliance, Product Development, Client On-boarding Management, Sales/Distribution, Client Service and various vendors that provide services to the UK Funds.

The accountability of JPMAM remains unchanged by external delegation and the UK Product Administration team are responsible for overseeing the delivery of these services and managing the relationships with the appointed FA/Depositories and other key vendors.

The team review KPI’s, ensure consistent quality monitoring is undertaken, service reviews are attended, appropriately audited and positive change is driven forward to reduce any service issues and enable us to gain efficiencies.

Areas of Responsibility include, but not limited to:

  • Management of people, coaching and focus on development
  • Manage the daily delivery of our UK Funds NAVs in line with agreed SLAs and KPIs
  • Manage any ad-hoc fund related initiatives from a Fund Accounting / NAV perspective.

Examples of initiatives managed are:

    • Fund launches / terminations
    • Share class launches / terminations
    • Fund mergers
    • Fund name and fee changes
    • In-specie redemptions
    • New market openings
  • Provide Fund Accounting expertise to the wider business and assist teams where required
  • Work closely with our India team to oversee the UK Fund range
  • Coordination and management of issues which impact NAVs i.e., price errors
  • Review /feedback on fund documentation. i.e., Prospectus, KIID, Factsheets, Client letters
  • Attend and contribute to monthly service reviews with Fund Accounting / NatWest and other key vendors
  • Chair/Join/Represent FA at various internal committees/forums i.e., Fair Valuation Committee
  • Work collaboratively across locations and understand synergies with Asia / US / EMEA
  • Review and update procedures whilst consistently challenging to ensure maximum efficiency
  • Quarterly Volcker review
  • Invoice processing
  • Understand industry changes and impact that will have on our business with the FA/Depository
  • Review of SLAs and KPIs as appropriate
  • Understand business strategy and ensure it is relayed back to our vendors

Candidate skills, experience and knowledge

  • People management experience
  • Consolidated fund accounting experience
  • Experience of fund and instrument valuation across diverse asset classes
  • Knowledge of OEICs and Investment Trusts
  • Accounting qualification (ACA, CIMA, ACCA, CA, CPA) or Investment Management qualification (IAQ, IOC, IMC, CFA) or equivalent preferred
  • Technical and business knowledge of various UK Fund structures and activities from an investment, operational, regulatory, accounting and financial reporting perspective
  • Knowledge and experience across multiple asset classes (e.g., Fixed Income, Fund of Funds, Alternatives and Equities) and complex instrument types (e.g., Derivatives and Structured Products)
  • Advanced user of MS Excel with good knowledge of Power Point, Word and Outlook

Key Competencies

  • Focus on people development
  • Must be well driven and dynamic with an ability to build relationships both internally / externally
  • Proactive ‘can do’ attitude is vital
  • Commitment to continuous learning and willingness to challenge to improve processes
  • Flexibility, strong organisational and time management skills are vital
  • Team player, ability to share best practices as well as ability to work on their own at times
  • Strong analytical skills with aptitude to evaluate issues, propose and implement solutions
  • Excellent attention to detail
  • Excellent written and verbal skills; ability to communicate in a clear and concise manner in any format
  • Positive attitude to compliance, controls and risk mitigation

JPMorgan offers an exceptional benefits program and a highly competitive compensation package.

JPMorgan is an Equal Opportunity Employer.

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