Manager, Private Capital - Vice President

BNP Paribas is the European Union’s leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.

Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody networks in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.

Company purpose:

Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.

Our employer promise is built around three pillars:

• Being a great place to work
• Committed to sustainability and having a positive impact
• Being dedicated to the development of our people

Business area

The UK Fund Services department is a high profile business area in the United Kingdom comprising of the following key operational areas:

• Fund Accounting - Investment & Fund Services operations
• Fund Accounting - Private Capital
• Investment Analytics & Data Services
• Corporate Trust Operations - Loan & debt solutions

Private capital fund accounting within the fund accounting private capital team act as the guardians of all private capital funds owning delivery of fund valuation and accounting services ensuring that they are fully compliant with fund documentation, client SLA’s, legal and regulatory requirements.

Job purpose

To be responsible for the set-up / on-boarding and subsequent ongoing accounting of Private Capital funds, ensuring that they are fully compliant with relevant legal and regulatory requirements, fund documentation and applicable accounting standards.

To be a Private Capital specialist for the Fund Services business and be responsible for the fund valuation, investor reporting and accounting services provided to the client.

To ensure that the provision of accounting services is aligned with the client SLA’s, all internal and external deadlines are considered and met and all operational policies, procedures and checklists are followed.

Key responsibilities

• When on-boarding new business, assist your line manager with drafting the Service Level Agreements incorporating measurable and meaningful KPI’s, whilst coordinating with the on-boarding team and assisting with the required BAU related activities.
• Assist in preparation and agreeing accounting reporting templates with client.
• Assist with the review of fund documentation and Business Acceptance Committee documentation pertaining to the launch of new funds and provide comments as necessary.
• Oversee and be actively involved in the day-to-day servicing of Private Capital fund clients and to ensure the fund is operating in line with the Service Level Agreement.
• Be proactive in escalating any issues with regards to service delivery expectations or procedural concerns to your line manager and/or Head of Team.
• Supervise the accurate, efficient and timely delivery of all valuations, capital accounts, quarterly statements, annual financial statements and any other reports together with supporting schedules and/or working paper in line with the fund documentation and accounting standards.
• Oversee the reconciliation process for cash, stock, shares/units in issued and ensure that all breaks identified are cleared on a timely basis and in accordance with agreed KPI.
• Significant involvement with external parties related to the fund including but not limited to Fund Manager, External Auditors, Transfer Agents, Tax Advisers, Custodian, Depositary, Board of Directors and other external service providers.
• Review performance fee, Internal Rate of Return and equalisation calculations as required by the fund documentation or the financial reporting procedures of the fund.
• Review drawdown and distribution calculation in accordance with the fund documentation.
• Be involved in the collection/payment of income/fees/expenses on a timely basis.
• Where appropriate, assist in the completion of all relevant regulatory and tax information provision.
• Liaise with internal and external auditors and manage the year end/interim audit process via a monitored timetable and audit requirement list.

Risk-Aware Entrepreneurship

• Management point of contact for clients, auditors, trustees, custodians and other departments within BNP Paribas Securities Services.
• Develop internal and external client and stakeholder relationships.
• Plan and manage client, audit, trustee and regulatory visits.
• Oversight of team service delivery.
• Ensure corrective and preventative actions are implemented where deadlines and quality standards are at risk.
• Responsibility for performance and KPI reporting.

Budget Management

• Ensure expenditure is within budget and authorising limits unless approved otherwise.

Client Focus

• Act as a key person for client contact, managing and ensuring that timely solutions are provided to all client queries.
• Work closely with your client counterparts with a partnership approach to service delivery.
• Work closely with your line manager to co-ordinate client requirements according to priority and arrangements held within the SLA, liaising with the client (where appropriate) to manage expectations and ensure consistent and excellent service delivery.

Management responsibilities:

• Day to day management of a team.
• Coach, develop and train staff to maximise performance.
• Succession planning.
• Oversee T&C regime of your team and ensure adherence to company policy.
• Conduct interim and annual appraisals.
• Absence and poor performance management.
• Manage high performance and provide career support to team members.
• Ensure adherence to HR policies and guidelines by the team.
• Adhere to UK management charter.
• Recruitment lead.
• Present at appropriate management forums, eg, Senior Risk Dashboard forum.

Requirements

Essential:

• Excellent working knowledge of fund accounting practices and standards, ideally including IFRS, UK GAAP and US GAAP.
• A recognised accountancy qualification (e.g. ACCA/ACA), or able to demonstrate competency through experience.
• Excellent working understanding of various types of PE transactions.
• Excellent delegation and time management skills with the ability to prioritise a high volume of time-sensitive tasks quickly and appropriately.
• Strong leadership and management skills and experience.
• Ability to lead and motivate a large team and balance directive and supportive leadership styles.
• Effective communicator and ability to articulate complex issues effectively to senior management.
• Stakeholder management skills and client management experience.
• Exceptional organisational skills: prioritising your workload, strong time management and planning skills.
• Highly computer literate with excellent Word, Presentation and Excel skills essential.
• Ability to work under pressure and meet regular tight deadlines.
• Flexible approach to work.

Desirable:

• Excellent working knowledge of Microsoft Office Package with an emphasis on Excel and Word Understanding of wider Private Capital industry standards and regulations.
• Previous experience in Private Capital fund accounting preparation.

And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).

For further information, and to apply, please visit our website via the “Apply” button below.