VP/AVP - Alternative Fund Accounting - Shared Service Center

We are urgently hiring for one of our Leading Shared Service Center for VP & AVP Alternative Fund Accounting.

Details are mentioned bellow:

Location: Kolkata

Role Purpose (overall high level summary of the role)

To lead and manage the HSSO Alternative Fund Accounting team in Kolkata

High profile management position accountable for building scalable Alternative Fund Accounting operations.

Accountable for financial planning to achieve cost targets set across Alternative Fund Accounting Stream

Promote relentless focus on service quality across Alternative Fund Accounting Operational disciplines

Management of operational processes to meet or exceed service level requirements

Accountable for continuous process improvement of existing processes and migration of new functions from the onshore business partner.

Drive key employee initiatives to promote and position HSS as the employer of choice.

Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures

Impact on the Business/Function

Typically Managing 100-125 FTE

Cost USD 5m-7.5m, dependent on local site costs

Alternative clients, supporting product / sub products on a global basis as follows:

Single Product :Fund Services

Multiple Sub Product : Pricing, Reconciliations, GAV/NAV Manage costs in line with ROP

Improve operational efficiency on year to year basis to minimize overall cost and marginal cost of new business

Ensure service delivery quality and timeliness meet/exceed agreed threshold.

Support Global Operating Model/Workflow/ Platform Change initiatives

Customers / Stakeholders

Supporting single product and multiple sub product, multiple region, multiple jurisdiction as follows:

Multiple Region: (Europe / APAC)

Multiple Jurisdictions : (Ireland/ Luxembourg / Hong Kong / Singapore / Australia, MENA )

Engage with the stakeholders to ensure team is aware of the changing expectations and challenges

Ensure understanding of the various requirement for various jurisdictions and thereby end client

Ensure regular business calls are held and actionable are completed within timelines

Leadership & Teamwork

Typically managing 100-125 FTE, dependent on current BAU footprint and projected growth

Typically managing from 3-4 directs, dependent on current BAU footprint and projected growth

Will be responsible for leading the Team in Kolkata for Pricing, Reconciliations and GAV/NAV

Attrition rate maintained within annual performance target

Recruitment/training of production teams

Develop a culture of meritocracy, high performance standards and high achievement

Manage Succession planning for Key resources.

Create best place to work as evidenced through future GPS scores

Operational Effectiveness & Control

Overall volume at Sub Product Level:

9k-10k GAV/pre-GAV Packs, 45k-50k Reconciliations Packs and 9k-10k Pricing sign-off.

Multiple Product / Sub Product. Multiple Region / Multiple Jurisdiction - Significant complexity/risk and engagement with business partners and external market / client/Auditors. New funds are being on-boarded directly in the SSO, with expectation of BAU delivery from day 1.

Migration of more complex activities (NAV activities) from multiple jurisdictions to HSSO.

Operational risk threshold through 'single event' control failure identified to USD10m based on 3-5 year data.

Large variation and the manual nature of processes required by Product / System / Country / Client

Service Delivery quality/timeliness is within/exceeding agreed limits and regularly reported to stakeholders

Ensure effective production management capacity is in place for all function.

Work towards minimizing business variance across jurisdictions/regions through standardization No Repeat high risk finding in Internal audits

Manage migrations within project agreed timelines and risk parameters

Reduce Operational Losses on year-on-year basis and contain within agreed risk limits.

Establish effective BCP for the processes.

Major Challenges (The challenges inherent in the role that require a continual test of the role holders abilities)

High and increasing due to various regulations that are being implemented in the Financial Services Industry

(FATCA / Dodd Frank / Volker / AIFMD / UCITS / DPA)

Multiple Accounting practices and treatments followed for different jurisdictions

Increasing complexity. Turnover 20%, 3mth lead time to achieve threshold competency for new hires.

Manage annual transformation Support re-balancing complexity, volume and criticality across HSSOs to align to the HSS Location Strategy and Connectivity between HSSO and Jurisdictions. 100-150 FTE impact.

HSS Operation (within Service Centres) is viewed as high growth and strategically important to achieve HSS strategic operating plan.

Manage and Lead teams, and ensure standardization of activities and service delivery between various jurisdiction centric teams.

Supporting multiple products and regions that have differing market behaviors but business is focusing on strategic FIG relationships

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

Multiple Accounting practices based on locations

Increasing complexity. Turnover 20%, 3mth lead time to achieve threshold competency for new hires

Manage annual transformation Support re-balancing complexity, volume and criticality across HSSOs to align to the HSS Location Strategy and Connectivity between HSSO and Jurisdictions 100-150 FTE.

HSS Operation (within Service Centres) is viewed as high growth and strategically important to achieve HSS strategic operating plan.

Supporting multiple sub products and regions that have differing market behaviors but business is focusing on strategic FIG relationships

Management of Risk (Operational Risk / FIM requirements)

The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.

Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Observation of Internal Controls (Compliance Policy / FIM requirements)

The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.

The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term compliance embraces all relevant financial services laws, rules and codes with which the business has to comply.

This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget)

Cost USD 5m-7.5m, dependent on local site costs

Volume: 9k-10k GAV/pre-GAV Packs, 45k-50k Reconciliations Packs and 9k-10k Pricing sign-off annually

Fund accounting for approx. 70-80bn AUM for around 275-325 Alternative Funds

HSSO Kolkata account for over 10% of HSS Global headcount

Headcount reporting to this role Direct: 2-3 Indirect: 100-125 Total: 105-130

Knowledge & Experience / Qualifications (For the role not the role holder. Minimum requirements of the role.)

Qualifications

Commerce Graduate is essential

Higher qualifications in Commerce, Accounting, Financial Management is desirable

Professional Skills & Experience

Candidate will have extensive working experience in the securities industry, to include:

Knowledge of clients and products across range of securities services

Management position with exposure to business partners across multiple geographical locations

Management position with exposure to remuneration, performance management, team building and staff development.

Fund Administration, with experience in Pricing, Reconciliations and GAV/NAV preferred

Personal Skills & Qualities

Strong presentation skills, ability to communicate clearly, concisely and effectively in English, both oral and written

Multi-cultural background or experience, ability to work across broad range of cultures in support of Company Group values and objectives

Strong analytical skills, high attention to detail

Strong planning and organisational skills, with a proven ability to prioritise competing demands and communicate this effectively

Proven ability to execute and deliver change, within an operational context

Effective leadership with requisite interpersonal skills necessary to direct and motivate a large team to achieve results

Solution orientated, high energy characteristics necessary to support HSS business

Excellent interpersonal skills with the ability to build and maintain global and regional relationships at all business levels

Strong collaborative management skills with the various stakeholders

Detailed knowledge of global market infrastructure.

Contact us- 8467055955 (10:30 AM - 5:30 PM)