Manager - Offshore Hedge Fund Accounting

Apex Group

Cape Town, Western Cape
Permanent
Full-time

24 days ago

Apex Group Ltd., established in Bermuda 2003, is a global financial services provider. With 85 offices in 42 countries worldwide and 10,000 employees upon the close of announced acquisitions, Apex delivers and extensive range of services to asset managers, capital markets, privateclientsand family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in theindustry;including fund services, digital onboarding and bank accounts, depository, custody and superManCoservices, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.Apex Group includesFundRock, LRI and European Depository Bank. Fund administration is where our business started and the cornerstone of our offering. Our current asset under administration is $3 trillion and continues to grow globally.An opportunity has arisen for aManager Offshore Fund Accountingto join our Apex Cape Town office, based in the Foreshore.Summary of the positionThesuccessful candidate will be expected to manage a team of offshore fund accountants who will perform the accounting and administration for various investment fund typesdomiciled in Guernsey, the United Kingdomand Texas. The individual will be required to oversee the fund accountings 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 Offshore 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.Apexis looking for aself-motivated andthoughtful, experiencedleader in theOffshore Fund Accountingspace tolead, recruit, supervise, appraise, train and coach Offshore 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, obligations under fund prospectuses, client SLA terms, while adhering to quality standards. Apexis seeking an individual withextensiveindustry experienceand offshore fund accounting knowledge.The position is a senior, full-time role which will report directly to the Senior Manager Offshore Fund Accounting.Outline of main duties and responsibilitiesThesuccessful candidatewill be responsible for the following main functional responsibilities:Fund Accounting:

Show thoughtful leadership in the practices and processes ofaccounting for offshore investmentfunds;
Demonstrate a deep understanding of fund valuationsfor offshore open-ended investmentfunds;
Motivate staff and identifytraining and developmentneeds;
Ensure accurate calculation offund valuationsthroughoversight reviewsof cash and scrip reconciliations, expense accruals andreporting;
Ensure inaccuraciesin fund valuations andNAV errors are identified, administeredinternally and communicated to clients and appropriatelyremediated;
Perform valuation quality assurance reviews on a regular basis to ensure consistent quality of product outputbetweenteams;
Ensurefund valuationsare administered in line withfund legal documentation,administrator policies andTCF principles

Operational Management:

Setting up and maintaining a production schedule that provides for all Offshore Fund Accountingteamsfund valuationdeliverables;
Plan the team member allocations to ensure all valuation activities and deliverablesforOffshore Fund Accounting teamsmeet SLAtimelines;
Manage the Offshore Fund Accountingdailyoutput in accordance with daily/weekly/monthly valuations productionschedule;
Monitor service deliveryofOffshore Fund Accounting teamstoSLAsand client expectations to ensure timely and accurate NAV calculationsare delivered and client queriesaddressed;
Actively manage issues and risks to resolution for all escalated mattersinOffshore Fund Accountingteamin a timely and efficient manager, keeping theSenior Manager Offshore Fund Accountinginformed at alltimes;
Co-coordinate and review all processes, checklists and controls pertaining to Offshore Fund Accounting teamsto ensure accuracy and completenessof processes and controls followed.
Review operational processes periodically to ensurea smooth operation,adherence toqualitystandards and to identify processgaps and documentationrequiringupdates;
Engage with senior specialists to identify,designand implement process efficiencies through automation of processes.
Coordinate performance management of each team member,thatincludessettingupKPIsthatalignswithjob descriptions,focus onstaff development andprovideperformancefeedback;
Participate and lead trainingto teams with the assistance of senior specialists (where needed)to allow knowledge share within theteams;
Meet with other jurisdictions 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 ahigh-performanceoutputsfrom teams.

Relationship Management:

Review SLA to ensure terms of agreements are adhered to with external and internalclients;
Establish and maintain key relationships, particularly with internal counterparts in other functional units,across offices inthe same and inother jurisdictions.
Establish and maintain strong relationships with external clients toensure good client satisfaction levels are maintained.
Drive and coordinate high-performancefrom the teamsand collaboratewith other operational team managersto enable effective delivery and resolution of all matters.
Hold team leaders accountable for delivery and results.

Risk Management:

Ensuring that appropriateoperationalcontrols are in place to mitigate risk.
Log and review incidents to ensure appropriate corrective actions are recorded and implemented to mitigate risk from reoccurring.
Drivecontinuous improvement projects in yourareawith assistance from allocated seniorspecialists;
Assess opportunities for improved efficiencies and reduced overhead in existing processes, including new technologies andtools;
Assess implications of operational controls within the domain on the ISAE 3402.

Project management:

Managedelivery of all inputs required from offshore fund accounting teamas part ofclient onboarding and implementation process to ensure a smooth go-live transition.
Manageallocation ofappropriate resources to support client-implementationand go-live transition.
Implement checks and controlswith assistance of senior specialist afteroperational take-on of new clientsto mitigate risk.
Provide management assistance on business related projects that can include but are not limited to system migrations, client take-ons, process improvements as well as the integration of business processes between offices.

Skills and experience requiredThe successful candidate will require:

A relevant tertiary business qualification (minimum B.Comor equivalent);
At least7years experience in Asset Management portfolio administration andpricing;
Minimum of 3 years in a management role in Asset Management portfolio administration andpricing;
Strong all-round understanding and experience of fund accounting processes within back officeadministration;
Good knowledge of exchange traded and OTC derivatives as well as other asset classese.g.Equities, Fixed Interest and FX;
Confident & enthusiastic, and have a structured approach towork;
Strong communication skills (written & verbal);
Ability to work in a pressurized environment on a regularbasis;
A can-do attitude and ability to make decisions assertively.
Individual need to be self-motivated,conscientiousandhard-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 areconcerned;
Knowledge and experience ofPaxusisessential;
Knowledge of and experience with reporting standards which include IFRS will be beneficial; and
An advanced level of experience in using Excelisneeded..

Reporting structureThe Manager: Offshore Fund Accounting will report to theSenior Manager Offshore Fund Accounting.Remuneration levelRemuneration will be market related and commensurate with experience and seniority. In addition, the successful candidate will receive a competitive benefits package and be eligible to participate in the firm-wide discretionary bonus scheme.

Apex Group

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