Head - Fund Accounting - BFSI

Principal account-abilities

1. Fund Accounting & NAV verification :

- Plan and design the Fund Accounting (all Mutual Fund Schemes) process and control procedures which ensure accurate and timely disclosure of NAV

- Overseeing the Fund Accounting operations and reviewing of processes to identify gaps and process efficiency opportunities

- NAV verification of all 500 plans on a daily basis

- Ensure proper co-ordination and follow up with all the relevant stakeholders to manage timely release of NAVs

- Build robust process and carry out automation to reduce the TAT in NAV verification and reduce manual check points.

Audit & Scheme Financials :

- Providing timely data for closure of AMC audit is highly critical as the AMC is a listed entity

- Ensuring timely and accurate preparation of scheme financials

- Liaison with Auditors, internal stake holders and vendors for efficient audit program management

- Ensuring no major observations in the Internal Audit and Statutory audits.

- Responding to audit observations by carrying out necessary change in processes.

- Managing exceptions in a manner which does not put the organisation to risk.

Vendor Management :

- Managing multiple vendors and ensuring that their deliveries are as per expectation

- To review SLA of vendors on regular interval and ensuring necessary changes are incorporated Evaluate and implement cost savings measures without compromising on process efficiency and quality

- Periodic review and monitoring the service delivery vis-a-vis the SLA

People Management :

- Oversee on-boarding, training of team members to drive productivity

- Sets performance standards and drives timely and accurate outcomes across processes through the team

- Ensures optimal work allocation and drives accountability for results

Regulatory compliance :

- Ensuring compliance of regulatory requirements i.e. SEBI / AMFI / Tax / Accounting guidelines

- Provide all necessary reports to Risk and Compliance to ensure timely regulatory filings

- Ensure timely publishing of half yearly and annual accounts

- Discussing with the relevant stakeholders and implementing the regulatory changes

Setting up processes/Change Management :

- To design process for any change in regulation

- To discuss with various stakeholders the impact analysis of any change in regulation/industry practices/new products

- To set up processes/revamp existing processes to adapt to changes in the industry/products/addition of products/features etc

IDCW Declaration :

- Review of distribution policy

- Ensure strict adherence to distribution policy and lay down processes to handle deviations, if any

- Ensure accurate calculation of distributable surplus for distribution

- Review of distribution rates as per the distribution policy

- Providing necessary inputs and analysis relating to distributable surplus/variance, if any in the same

Expense Management :

- Review of expense accrual and payments periodically

- Ensure strict adherence to SEBI regulations relating to expense accrual and chargeability of expenses to schemes and AMC

- Discussing and finalising the expense allocation policy with the various stakeholders

- Highlighting variance in expense accrual and payments to senior management and finance team so that necessary action can be taken well in advance to avoid any major surplus/deficit position at the year end

- Reviewing expense change notices to be sent to the investors

- Monitoring of expense provisions and ensure timely closure of the same

- Monitoring expense paid by AMC as a part of Grey List of SEBI

Automation of process / MIS :

- Evaluate ways and means to automate processes so that manual intervention are kept to the minimum

- Evaluate ways to reduce turnaround time of service to external and internal customers by providing automated solutions

- Analysis of various data points to create MIS reports for different stakeholders which will help in decision making.

Taxation :

- Ensuring 100% compliance in payment of statutory dues and returns filing

- Meeting income tax officers to handle their queries and resolve the issues/discrepancies to their satisfaction

- Handling queries related to tax deductions

- Managing GST audit or any other reviews/assessment of IT department

Trial Balance Review :

- To have complete control over books of accounts

- Highlight and investigate any abnormal balances

- Ensure accuracy in accounting of manual entries

- Proper follow up with various stakeholders to resolve the issues/discrepancies, if any ETF Process

- Verification of technical NAV of ETF

- Providing the refund details to RTA and branch operations in case of Physical subscription and redemption of Gold ETF

Swing Pricing NAV :

- SEBI has introduced swing pricing framework for open ended debt mutual fund schemes (except overnight funds, Gilt funds and Gilt with 10-year maturity funds).

- The swing pricing framework will be made applicable only for scenarios related to net outflows from the schemes.

The framework shall be a hybrid framework with:

- a partial swing during normal times and

- a mandatory full swing during market dislocation times for high risk open ended debt schemes.

- Basis the policy adopted, ensuring trigger of swing factor and applicability of swung NAV to the incoming and outgoing investors other than the exceptions prescribed by SEBI

- Disclosures pertaining to NAV adjusted for swing factor along with the performance impact shall be made by the AMCs in following format in their SIDs and in scheme wise Annual Reports and Abridged summary and the same may be disclosed on their website prominently only if swing pricing framework has been made applicable for the said mutual fund scheme.

Cost Reduction and Revenue Generation :

- To find out avenues for cost reduction and revenue generation