Senior Fund Accounting Officer (Hybrid Funds)

Job Description

Within the Fund department, the main responsibilities of the Senior Fund Accounting Officer will be responsible for more complex portfolio of clients to review and manage. The Senior Fund Accounting Officer reviews and is accountable for the quality of services delivered to his/her client portfolio.

Tasks:

• Onboarding:

During client onboarding, Senior Fund Accounting Officers undertake several crucial tasks to ensure a smooth transition and establish a productive relationship with the new client. Here are some key responsibilities:

• • Client Information Gathering: Senior Fund Accounting Officers participate to collect essential details about the client. They participate on interviews with clients to gain deeper insights into their expectations, preferences, and communication styles. These conversations allow for better alignment between the client’s objectives and the accounting services provided.
  • Setting Up Systems and Processes: Senior Fund Accounting Officers will ensure that the set-up of the new client within the relevant accounting software is done properly either by the GCD or him/her. Drives and reviews client data migration and set-up
• Oversight

During Net Asset Value (NAV) oversight, Senior Fund Accounting Officers play a critical role in ensuring accuracy, compliance, and smooth operations. Let's delve into their key responsibilities:

1. Monitoring NAV Production Process:
   • Senior Fund Accounting Officers drives the entire NAV calculation process. Independent delivery of accurate and timely NAVs with high volume and/or high complexity transactions, including cash, position, income and pricing reconciliation.
   • Senior Fund Accounting Officers ensure any fee accrual, management fees or performance fees are currently calculated and recorded.
   • Their role involves managing quality assurance validations and ensuring adherence to client Service Level Agreements (SLAs).
   • Tailored dashboards with data drill-through capabilities aid in diagnosing exceptions and facilitating remediation.
2. Quality Control and Approval:
   • Senior Fund Accounting Officers review and approve NAV calculations to ensure correctness and accuracy. They validate all deliverables and verify the accuracy of net asset values.
   • Any discrepancies or errors are promptly addressed to maintain the integrity of NAVs.
   • Their vigilance contributes to accurate financial reporting and investor confidence.
   • Serves as the controller and expert on the portfolio of clients handled.
3. Risk Management and Compliance:
   • Senior Fund Accounting Officers assess risk related to NAV calculations. They identify potential issues and implement controls to mitigate risks.
   • Compliance with accounting standards, regulatory requirements, and internal policies is a top priority.
   • They collaborate with internal audit teams and external auditors to maintain robust controls.
4. Process Optimization and Efficiency:
   • Senior Fund Accounting Officers continuously seek opportunities for process improvement.
   • They recommend enhancements to systems, services, and processes, aiming for efficiency gains.
5. GCD Monitoring:
   • Monitor the quality of the GCD deliverables.
   • Monitor the timeliness of the GCD deliverables.
   • Review and challenge the KPIs provided by the GCD.

In summary, Senior Fund Accounting Officers during NAV oversight act as guardians of accuracy, compliance, and investor trust, ensuring that the fund's financial calculations are reliable and transparent.

• Management:
  • Team Performance
    1. Serve as a subject matter expert of the team.
    2. Train and guide more junior members of the team.
• Client Relationship Management:
  • Senior Fund Accounting Officers interact directly with clients, addressing queries related to NAVs and providing timely information.
  • Effective communication and relationship-building contribute to successful NAV oversight.