All FundBank (“FB”) employees are expected to demonstrate our core competencies as outlined below. The role of Assistant Vice President (“AVP”), Fund Custody has unique requirements and duties; however, these responsibilities are to be executed within the organization’s framework of core values. FB expects all employees to be high performing, self-motivated, learners and leaders.

Summary: The AVP is responsible for providing timely and accurate review and approval of Fund of Fund (“FoF”) custody and trading transactions. They will ensure that all clients receive top-quality service and operate in a risk-aware manner. The role involves executing trade & transfer instructions, monitoring portfolio positions and market structures, and maintaining positive relationships with Transfer Agents. The AVP will also assist in the onboarding of new clients and contribute to the development and monitoring of policies and procedural manuals.

Responsibilities:

Execute FoF trade instructions for clients by ensuring fund documents are delivered to TAs on a timely basis.
Follow-up and coordinate with TAs to confirm fund transactions are executed on time and payments are released within the mandated timeframe.
Assist with the onboarding of clients and relevant processes.
Assist in developing and maintaining positive relationships with TAs & clients.
Monitor portfolio positions, market structures and risk daily.
Investigate and respond promptly to queries from clients regarding FoF custody, trades, or holdings to ensure risks are mitigated.
Prepare trade confirmations and send out promptly to clients.
Update transactions (subscriptions & redemptions) on the portfolio management system.
Active involvement in the on-boarding of new clients, counterparties, and custodians.
Assist in organizing business development activities.
Maintain the FoF custody daily position and cash reconciliations between the portfolio management system and the latest statement received from the TAs.
Ensure that prices are entered correctly into the portfolio management system utilizing the latest statement received from the TAs.
Assist in the development and monitoring of policies and procedural manuals that contribute to the efficiency of the department while also ensuring timely and accurate delivery of service and regulatory compliance.
Assist in projects relating to the rollout of new systems or upgrade of systems by testing and providing feedback to the Project Manager.

Requirements:

Minimum of 8 years post-qualification experience in a Fund of Fund operations role, with other relevant experience advantageous
Must have 8 years of experience in trade execution, middle office processing or Fund Administration.
Must have an undergraduate degree with a business focus or an accounting or securities industry qualification.
Experience in DTC and Euroclear/ClearStream.
Experience with completing fund subscription/redemption documentation.
Knowledge of market trade execution, affirmation, and settlement process.
Understanding of the workings of FX, equity, fixed income, alternative investment, and derivative markets.
Strong working knowledge of all trading matters including fund of funds and risk assessment.
Experience using the following software is essential; Axia, Fund Administration platforms.
Other trading and custody software understanding would be useful.
Advanced MS Office user experience.
Strong command of the English language both verbal and written, including report writing, business and client correspondences and procedure manuals.
AML/KYC Best Practice & Fund structure knowledge & awareness.

Commercial Bank Jobs

Assistant Vice President - Fund Custody