Senior Associate / Process Specialist

Job Description

Department Description Banking, Reconciliations & Control (BRC) is responsible for the receipt and payment of monies to / from investors / intermediaries and the reconciliation of cash and stock positions for Fidelitys European based funds and FundsNetwork fund supermarket business. In addition, BRC includes the processing of fund distributions, tax & interest accrual processing and various other control related activities for Customer Services. The successful candidate, as a member of the BRC team will be responsible for supporting the growth of the BRC activities based in the India Service Centre. This role is responsible for ensuring that appropriate client money regulations and controls on customer assets are adhered to and best practice standards are maintained across all activities, particularly in the protection of customer assets and client monies. Purpose of your role The objective of this role is to support ISC BRC by providing the best possible service to our customers by responding appropriately to the changing regulatory framework and business priorities. By virtue of having in-depth knowledge of all related aspects of the process within the team, an individual in this role, as Process Specialist, would be able to define and support customer centric solutions, with focus on protection of client monies and assets within the FCAs (UK Regulator) prescribed rules and regulations, as well as meet all expected and defined deadlines within agreed service standards. Client Assets, by virtue of having in-depth knowledge of the process / procedures / system, will in addition to contributing to the business as usual working and processing activities, also act as a single point of contact for any team related technical issue, especially around client assets. The candidate will also be expected to work closely with the Technical Support and Client Money Operational Support Functions to assist with the delivery of tactical and strategic initiatives for the team specifically and also ISC BRC as a whole. This may require building an increasing awareness of FCAs regulatory requirements on protection of client monies and assets through training, workshops, assisting with process improvements within the team and other BRC teams with focus on making processes more automated and straight through, reduced regulatory risk and enhanced controls, being engaged in projects along with operational areas and providing expert inputs to ensure timely and quality delivery on projects. Key Responsibilities To be able to perform and support timely automated and manual reconciliation of client assets.. Identify and address potential shortfalls / surpluses in client money bank reconciliations and ledgers to avoid client money breaches. To perform timely reconciliations of Third Party deals on a daily basis, in order to enable timely settlements to Fund Providers To update and maintain the ledgers, including recoding reasons for outstanding items over a set period. To create correcting journals / cashbook keyings for reconciliation purposes. To investigate & follow up on outstanding items with other departments within BRC (Cashmatch, CBU, Controls & Settlements, etc) as well as other departments in UK, Luxembourg, Germany, Hong Kong, etc. This includes monitoring of departmental mailboxes and timely action on emails received, especially impacting Client Money/Assets. To ensure regulatory knowledge is regularly updated and maintained. Work with Technical Support to build awareness around the protection of client money and assets per the FCAs prescribed rules and regulations. To ensure knowledge of the products & procedures within Fidelity and also within the Financial Market is maintained and updated regularly. Understands, articulates and implements best practices related to their process / task. Communicates effectively across all levels. To represent the team in projects and new initiatives impacting Client Assets/Money - as Subject Matter Expert. Good knowledge and understanding of the FCA Client Money regulations is thus a necessary prerequisite. To cross train team members and answer procedural questions as Subject Matter Expert. Testing prior to any systems release as Subject Matter Expert. To support the team in the absence of the Team Supervisor, as Subject Matter Expert, handling critical tasks and review of the client asset reconciliations, etc. Review process issues and provide appropriate recommendation which leads to scalable and practical solutions that can be integrated with the current practices and regulations. To produce Management Information Reporting e.g. Reconciliation reports of outstanding items and their ageing, also including action steps for resolution, etc. Assist in preparing processes and procedures in line with current practices and regulations. Work with teams to identify risks and put appropriate controls in place. Use such controls to identify improvement opportunities across departments. Monitor and report on departmental key risk measures.

Keyskills :
technical support operational support AS 400 customer service Management Information Reporting process improvements

About Company

FIL India Business and Research Services Private Limited

Candidate Profile

Experience and Qualifications Required B.Com or an equivalent bachelors degree from a recognised university. Strong analytical skills with attention to detail. To be able to multi task effectively, prioritise and organise effectively to ensure deadlines are met. Demonstrates a high level of commitment to improving customer service / processes internally. Proactive approach towards problem solving. Excellent communication skills, verbal and written. Good presentation skills are desirable. Good computer skills with knowledge of MS Word, Excel and Power Point. Sound knowledge of AS 400 is required. A flexible approach with an ability to work with other departments in the organisation. Should be approachable, assertive and credible. Ability to remain highly motivated and focused towards the key deliverables, with the ability to anticipate requirements and overcome obstacles. Energetic, enthusiastic, supportive and proactive team player who is also self-motivated and can work independently. Demonstrates good use of initiative, a high level of commitment to improving customer services / processes. Adaptable to changing business needs a team player with a flexible approach and the ability to multi-task effectively plan, prioritise, organize. Energetic & enthusiastic and a supportive and proactive team player. Working knowledge of various teams within the Function / Department.