Global Head of Fund Accounting

Dublin City Centre
07 Feb 2019

Leading Group is looking for a Head of Funds Role - 01 4321555

Head of Fund Accounting

A leading Financial Services company have an extremely exciting opportunity for a Senior Fund Accounting professional to join their business as Head of Fund Accounting. This role will involve the development, governing leadership of the dedicated Fund Accounting process and capability which serves the global business. The successful candidate will be responsible for developing, communicating, executing and sustaining the strategic vision and initiatives for the global process.

Role Overview:

  • Plays a key part in managing and directing the evolution of technology platforms supporting the capability while seeking to standardise and simplify processes across the regions/globally where possible
  • Coordinate a 'central menu of purposes' with associated costs for communication to business partners and act as a focal point for simplification and risk related activity in relation to the dedicated process
  • Own all of the global fund accounting operational processes including technical issues, new business take on, cost control and business communication

Key Responsibilities:

  • Review complex/manual processes across the teams and look to eliminate, reduce of standardise to the highest levels possible while applying best practices to deliver optimal client experiences
  • Eliminate and reduce non-value add process, leveraging capability hubs where appropriate
  • Document any global process differences and ensure these are fully understood
  • Look for efficiency gains and Risk Reduction across the groups/time zones
  • Standardise KPI's/reporting between locations to meet and exceed business/stakeholder service levels
  • Document manual processes which cannot be eliminated, understand the value versus risk and ensure control processes are fit for purpose
  • Develop and manage a single global Sharepoint site to house procedures and team documentation
  • Work in collaboration with teams such as Risk and process improvement
  • Partner with the technology team to leverage new technologies and applications to strengthen processes across locations, implement available process optimisation tools including workflow and robotics
  • Evaluate market trends and periodically assess the feasibility and benefits of outsourcing
  • Facilitate global mobility across the process teams and identify and develop emerging talent
  • Produce out of hours procedures of the process and ensure training is current to provide global coverage following the clock
  • Document and continuously review and evolve a standard 'Menu of Services' identifying the exceptional offering where appropriate
  • Proactively manage customer/stakeholder experience by establishing formal and informal channels for process users to provide feedback
  • Work with stakeholders to detail process commitments (SLA's), understand current and future business requirements and participate in business impact assessments for change initiatives

Oversight of Funds and Shareholder Activity including:

  • Provide global Fund Accounting thought leadership to key stakeholders within the firm, including Product, Distribution, Investments, Compliance, as well as to outside service partners like Custody Banks and Auditors
  • Provide expert guidance to senior management for all fund accounting functions especially pricing and valuation
  • Shape and drive the strategy for outsourcing/insourcing decisions and administration/custody servicing partner selections
  • Optimise the creation and best use of capability hubs for fund accounting operations including financial reporting and expense administration
  • Combine global experience with local knowledge of multiple markets to help develop solutions based on our clients' requirements; function as a contact point for any new complex client or business demands
  • Coordinate and lead the fund accounting activities for all countries and regions and help facilitate the sharing of information and best practices
  • Ensure local fund accounting teams are joined up in providing flexible and scalable real-time accounting solutions, which promotes rapid and accurate execution, reduces operation risk and keeps pace with regulatory change
  • Drive the effort to ensure local and global processes are designed to provide a seamless and efficient flow of information between investments, trading, custody, cash, accounting data, and regulatory reporting requirements
  • Evaluate readiness of new products, including structure, composition and positioning, and perform ongoing reviews after implementation
  • Assess the operational impact of new and complex securities across investment advisers
  • Evaluate and monitor impacts of large and/or affiliated shareholders on funds, monitor complex events and large transitions of assets
  • Assist with standardising and evaluating the oversight practices of the global teams and liaising with other oversight partners (such as Compliance, Risk and Internal Audit) to ensure an appropriate fiduciary oversight framework exists
  • Understand the investment activity and performance of the funds to perform more targeted and insightful oversight
  • Provide oversight of the functions that have been outsourced to third parties in order to ensure that the funds prices and statutory reports comply with current regulations
  • Implement and manage a global standard oversight model of outsourced fund accounting services/Fund Administration, on a global basis
  • Understand and monitor detailed performance of systems, processes and controls at specified key outsource service providers
  • Coordinate key Fund activities between the firm and Administrators, Trustees, and Auditors

Provide Advice, Guidance, Governance and Set Policy including:

  • Set fund and shareholder policies including those related to operations, accounting, tax and disclosure for the funds
  • Provide guidance on the proper implementation of policy and procedures
  • Work with the industry and regulators to guide, influence and proactively plan for changes and regulations
  • Risk rate outsourced service providers across the business, defining an appropriate level of governance for each
  • Define and execute appropriate governance based on risk ratings

Demonstrate Technical Expertise Including:

  • Be an acknowledges technical expert in accounting for various fund structures including: multi-class funds, multi-manager, master feeder, fund of funds, mother - baby, pooling and ETF's
  • Knowledge of UCITS, IMA SORP, OEICS are essential
  • Take the lead in coordinating any complex global events impacting Fund Understand and stay informed of market trends and regulatory changes impacting the funds industry
  • Provide in-house Accounting expertise within the team, to enable us to oversee Accounting services provided by the Administrator with appropriate expertise

Experience and Qualifications:

  • Strong and demonstrable commercial acumen and strategic insight
  • Demonstrable experience of process ownership
  • Excellent communication skills and ability to influence drive and motivate agendas and teams outside direct reporting lines.
  • Excellent stakeholder management and influencing skills
  • Highly organised with a strong attention to detail and drive for perfection
  • Excellent numerical and analytical skills
  • Chartered Accountant or CPA qualification

Morgan McKinley is acting as an Employment Agency in relation to this vacancy.

Please note that any references to salary or pay rates in this advertisement and in the salary refinement section are indicative only and should only be used as a guide.

Susan Nix's picture
Principal Consultant | Financial Services Recruitment
Dublin 01 4485694 |