Manager Operations - Traditional Fund Accounting

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HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Manager Operations – Traditional Fund Accounting.

In this role, you will:

• The traditional Accounting & Valuations team has daily, monthly and weekly Net Asset Value valuations with stringent timelines. The team is responsible for performing capital activity bookings, accruals, amortization, yields leading to final generation and validation of Net Asset Value through diagnostic checks, Financial Mainframe Report and post Net Asset Value activities. The team also performs other Monthly & Reporting activities which includes Fee Reviews. Ex‑Dividend Distribution, Trustee Packs and Queries, Regulatory & Client Reporting. The Accounting & Valuations team is responsible functionally across multiple jurisdictions (where applicable) serviced out of Markets and Securities Services Bangalore. Manage 7 to 8 direct reports, whilst overseeing 15 -16 headcount of indirect reports, as and when deemed required by business or it can be a manager individual contributor role as well.
• The role will require technical excellence to achieve target deliverables combined with the ability to get work done from administrators and / or Subject Matter Experts to achieve target Key Performance Indicators. The role will demand a daily balance of delivering an excellent client service within the standard Net Asset Value model of promoting continuous improvement of Net Asset Value processes and of identifying and capitalizing opportunities to create capacity and generate efficiencies. The role would also require the individual to ensure that process and procedures are continually reviewed and improved, and the changes are communicated and implemented effectively.  The job also entails checking on internal control and measures undertaken and regularly reviews them to maintain quality and productivity at the optimum level.

• Set a high standard of continuous staff motivation and leadership to ensure a good work environment. Responsible for performance relating to completion of valuations packs of fund portfolios as per Performance Level Agreement on timeliness & quality and Business Partner’s contact on all process related issues resolution. Effectively mitigate identified Operational Risks. Comply with Group’s Statutory Audit standards. Proactively identify and reduce manual processes for enhanced operational control. Support and implement technology upgradation. Lead User Acceptance Testing for the business (as and when required). Lead Projects for both business partners and Markets and Securities Services Bangalore (based on business objectives, targets and requirements).
• Develop a comprehensive understanding of the Traditional Net Asset Value processes and keep abreast with the latest developments in the assigned markets on the rules and regulations by the regulators, stock exchange etc. that may have implication to the daily Net Asset Value processes. Devise and analyses Management Information requirements/processes to ensure the tracking mechanism is reflective of the current business activities and its ability to measure the team’s performance across different market with different level of experience. Ensure that business data requirements are completed accurately and supporting statistics/reports/returns are presented to business/management within agreed timescales. To plan for standardization of processes by sharing the best practices across the various markets with the aim to enhance cost effectiveness.

• Responsible for reviewing Net Asset Value packs. Process productivity and quality targets are set, monitored and achieved to ensure optimum resource utilization and achievement of business objectives and customer Service Level Agreement’s. Drive the delivery of rigorous and customer centric Quality Campaigns and initiatives to increase Quality awareness in the team. Proactively identify and resolve problem situations to give maximum customer satisfaction and escalated where necessary and take appropriate measures to improve quality and prevent recurrence. Establish and maintain effective relationship with customer business areas and identify areas of service improvements. Act as a key escalation point in resolving issues with the Business Partner on a timely & ongoing basis.

• Ensure packs are delivered with quality and within set deadlines with additional focus on priority clients and strategic approach on valuations should be done keeping the priority clients in mind. To plan for allocation/reallocation of resources to smoothen workflows/volumes and ensure that robust cross training plan is in place to multi skill operation teams. Procedural changes/new initiatives are reviewed, agreed with the business areas, fully communicated to staff and implemented. Drive staff development through soft skill training, personal development plans and performance management reviews. Reward and recognize service excellence and keep high staff morale through ‘Celebrating Success’. Create an environment where skills and knowledge are openly shared to achieve department and business goals. Create a strong succession planning / effective cross training to eliminate key person risk associated with self / team members.

• Ensure control measures/checkpoints are established to scrutinize exceptions/errors to prevent any operational losses and reviews on these measures are constantly performed.  Procedural changes/new initiatives are reviewed, fully communicated to and implemented. Review Contingency requirements on a periodic basis and invoke relevant business recovery measures as necessary. Carry out effective Operational Risk Assessment by monitoring and implementing risk mitigating plans. Maintains HSBC internal control standards, overseeing the timely implementation of internal and external audit points together with any issues raised by external regulators
• Maintain a proactive awareness of the Operational Risk scenario associated with the role, ensuring that all actions during your employment with HSBC take account of the likelihood of operational risk occurring while also Ensuring escalation process is in place and is effective. Ensure Gross Asset Value / Net Asset Value operating procedure is followed with management of risks (if any). Continually assess the risks inherent in department processes and procedures. Ensure governance on all daily/weekly tracker updated by team.  Update all Management Information by the stipulated deadlines. Additional review of Job-Aid Matrix, Standard Operating Procedures, process notes, checklists and other internal process related documents periodically

To be successful, you will:

• Bachelor’s degree in accounting or qualifications in the accounting/finance industry. Excellent knowledge in Net Asset Value Calculation process with clear understanding of end-to-end Fund Accounting Model. Understanding of Gross Asset Value and Net Asset Value Activities. Previous experience in performing & reviewing funds in Accounting & Valuations working areas.
• 5+ years of relevant Funds administration experience. Ability to monitor and meet operational goals. Should have an eye for detail and a strong analytical mind. Excellent knowledge of Capital Markets and Financial instruments. Excellent knowledge in accounting principles and fundamentals of accounting. Ability to update, manage and analyses Management Information related activities. Efficient Time Management and ability to multitask work and priorities to meet defined deadlines. Effective communication skills. Proactive in implementing and driving solutions.

• Ability to build excellent rapport and working relationship with other departments and jurisdiction, thus ensuring smooth operations. Should have demonstrated behavior in line with HSBC values throughout. Strong working knowledge on Microsoft Office. Ability to speak and understand English fluently, writes business letters and reports, good conversational / telephone skills. Ability to learn quickly, transfers knowledge appropriately, understand and interpret numeric data. Evidence of good analytical, statistical and data mining skills to study trends and make projections. Production management skills and ability to initiate process improvements.    
• Strong leadership skills evidenced by achievement of objectives together with a track record of development of individuals with strong organization and planning skills along with the ability to handle capacity and Management Information reporting. Initiate cost control measures by achieving resource efficiency and managing overheads. Evidence of process management skills with an ability to initiate process improvements
• Evidence of very good prioritizing, planning and organizing skills. Ability to effectively communicate and implement group policies and procedures. Ability to comprehend and minimize operational risks including wide understanding of audit controls and compliance requirements.
• Ability to manage and develop a team staff across a diverse range of processes within an operational environment. Ability to maintain control, direction and motivation of staff in an ever-changing environment. Proven experience in change and problem-solving management. Evidence of good analytical, statistical and data mining skills to study trends and make projections. Production management skills and ability to initiate process improvements and recognize areas for development. Excellent verbal and written communication skills.
• A positive self-starter. Ability to manage resources to continually improve customer service and achieve productivity targets. Good communication skills and enjoys working with people in relation to role. Ability to plan & organize effectively as well as adopt a flexible approach to change. Will need to possess good multi-tasking skills and be flexible, as operations will cover multiple teams and time zones

• Working knowledge on Multifonds, Pcontrol, ICON, Bloomberg, etc. Good knowledge in investment accounting and investment valuations. Knowledge in the use of Bloomberg and/or Reuters. Strong Accounting Concepts with a clear understanding of financial statements. Basic knowledge in custody, brokerage, depository, investment accounting, mutual funds and reconciliations.

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