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Associate – Fund Dealing Services, Chennai
Support trade lifecycle and pricing for Australian/NZ managed fund clients.
Job Title
Associate
Department
Chief of Staff
About Business line/Function
Fund Dealing Services
Position Purpose
The Fund Dealing Services (FDS) team sits within the broader custody operations team and supports the end-to-end trade lifecycle for our Australian and New Zealand based clients that invest in managed funds (also known as unlisted unit trusts). This includes account opening, trade management, reconciliations and pricing.
Opportunity
This role presents a fantastic opportunity to learn about the operational activities supporting the domestic and international managed funds market as well as the important role of a large global custodian within the financial services industry.
Candidate Qualities
The successful candidate will have an enquiring mind, a desire to learn why things are done (rather than just how to do them), an awareness of risk and control frameworks, an ability to work collaboratively, a positive team-orientated mindset and an eye for accuracy.
Responsibilities
Direct Responsibilities
The FDS team is focused on 3 key deliverables for a large client base. Key tasks performed by the team are listed below. This FDS Associate role would initially be required to primarily support the pricing tasks, with the opportunity to expand into the trade management and month-end reporting tasks.
In addition to processing tasks, this role will be responsible for performing 4 eye checks on processing performed by the team. As such, this requires strong risk and control awareness and an eye for accuracy.
Trade Management
- Processing of application and redemption instructions for clients investing in managed funds
- Generation of payment instructions before daily cut-offs
- Timely updates of trade data into the accounting system
- Settlement of trades in accounting system
- Reconciling cash balances of statement to ledger
- Reconciling unit differences between external registry to ledger
- Processing in accounting system of periodic transactions (management fees/rebates)
- Responding to client and Fund Accounting queries
Month End Reporting
- Investigation and resolution of breaks relating to the month-end unit reconciliation for all clients’ managed fund holdings
- Data entry of data compiled in reconciliation template
- Generation of reporting and statistical data for internal and external clients
Pricing
- Monitoring daily market price delivery from vendor, validate price movement based on FDS benchmarks
- Manual price update in unit pricing and indexation system
- Monitoring periodic ex-prices delivery from vendors, validate and process ex-prices, DIV and DRP in a timely manner
- Pricing exemption procedures process
- Pricing static data set up and maintenance
- Responding to internal and external stakeholder queries
Technical & Behavioral Competencies
- 3 year related experience in the financial services industry, particularly within a large custodian environment
- Willingness to ask questions and learn processes and tasks, with a desire to progress and develop their own technical knowledge and skills
- Strong awareness of risk and control frameworks
- Strong work ethic and the ability to work closely and effectively as part of a team, including meeting daily deadlines as well as identifying and managing risk
- Personal accountability, producing complete and accurate work
- High level understanding of managed funds and/or unit pricing
Specific Qualifications
NA
Technical Skills
Knowledge of managed funds is highly desirable Familiarity with HiPortfolio and trade management platforms desirable
Behavioral Skills
Ability to collaborate / teamwork Brainstorm in group to define the best course of action. Allocate tasks according to the group decision. Accuracy: Implement preventive actions to avoid issues. Follow up on to do list for the team. Ability to deliver on time / Results driven Ensure to meet the agreed deadline. Ensure that the outcome is always in line with the agreed expectation.
Education Level
Degree qualified in Business, Finance, Accounting or related discipline is preferable.
Location
Chennai
About BNP Paribas Group
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
About BNP Paribas India Solutions
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.
Commitment to Diversity and Inclusion
At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.