Sr Specialist, Fund Services

Standard Chartered; Bengaluru; On-site; INR 900,000 - 1,200,000; Full time

Job summary

Standard Chartered in Bengaluru is seeking a Fund Services professional to support daily Net Asset Value calculations, valuation postings and fund accounting for multiple investment funds, ensuring accuracy and timely reporting to CPC/clients.

The role involves coordinating with stakeholders, monitoring cash positions, processing dividends and payments, and contributing to risk controls and process improvements in line with group standards.

Responsibilities

• Deliver service / reports to Country Stakeholders/clients in accordance with requirement and timeline as agreed in Services Level Memorandum and ensure reporting deadlines are met.
• Ensure accurate calculation and posting entries related to valuation including management fee, expenses, performance fee…in accordance with Service Level Memorandum and fund Offering Memorandum.
• Ensure accurate capturing of trades / prices / Corporate Actions/ FX rates data and relevant accounting entries for Net Asset Value calculation.
• Maintain daily accounting records for several investment funds books including ledgers, cash positions, distribution records, investment records and pricing records; support in fund administration tasks.
• Review reports to CPC/clients, verify trades, ensure valuation checked with third party sources, ensure complex investments are accounted for and compliant with regulations.
• Monitor cash positions and prepare cash projection reports for assigned clients.
• Handle daily activities, cash & trade reconciliation; prepare valuations and compliance reports as required.
• Calculate Net Asset Value on various basis and deliver reports to CPC/clients on time.
• Record and disburse dividends and payments to service providers; ensure fees are settled timely.
• Coordinate with internal stakeholders to complete complex processes and communicate issues promptly.
• Support risk and control objectives, drive process improvements and maintain governance standards.
• Carry out ad hoc projects and monitor KPIs/KRIs to meet divisional objectives.

Job description

Strategy

• Responsibilities that are related to the development and implementation of a strategy, for example, Awareness and understanding of the Group’s business strategy and model appropriate to the role

Business

• Responsibilities related to the delivery of business and / or financial objectives, for example, Awareness and understanding of the wider business, economic and market environment in which the Group operates

Processes

Fund Services:

• To deliver service / reports to Country Stakeholders/clients in accordance with requirement and timeline as agreed in Services Level Memorandum and ensure reporting deadlines are met.
• To ensure accurate calculation and posting entries in relation to valuation including management fee, expenses, performance fee…etc in accordance with Service Level Memorandum, and as appropriate the Fund Offering Memorandum and related documents such as fund’s SLM.
• To ensure accurate capturing of trades / prices / Corporate Actions/ FX rates data and relevant accounting entries for the purpose of providing accurate Net Asset Value calculation.
• Responsible for the daily maintenance of full accounting and client records of several investment funds books including general ledgers, cash positions, distribution records, investment records and pricing records of investments and support in fund administration related matters, such as recording and processing transactions, obtaining and verification of relevant documentation thereof and ensuring that investments are correctly recorded and priced, and accounted for Purchase and sale of listed or unlisted securities, Corporate Actions, Forward FX deals, OTC deals (Swaps, Options etc) and relevant accounting entries for the purpose of providing accurate Net Asset Value calculation.
• Perform detailed review of the reports to CPC/clients including: Verification trades to relevant supporting, Ensure valuation of investments being checked to third party sources, Ensure appropriate accounting for complex investment, Ensure compliance with internal investment restrictions, external regulations and international accounting standards, if applicable. Identify issues and report to senior/supervisor with suggested solutions.
• Responsible for fundamental cash monitoring for the assigned clients, i.e. monitoring cash positions of clients and prepare cash projection reports.
• To be responsible for daily activities, cash & trade reconciliation.
• Preparing Portfolio Valuations, investment compliance reports or other reporting, as required.
• To calculate the Net Asset Value (on a daily, weekly, monthly or other basis as agreed) and deliver service / reports to CPC/clients in accordance with requirement and timeline as agreed in Services Level Memorandum.
• To ensure proper and accurate calculation and posting of management fee, expenses, performance fee…etc in accordance with Service Level Memorandum, and as appropriate the Fund Offering Memorandum.
• Recording and disbursing dividends either by payment or re-investment.
• Calculating and disbursing payments of fees to the investment manager/advisor, custodian, administrator and other service providers as required.
• To ensure fund administration services fees are settled by the client on timely manner.
• Communicate with CPC and other relevant parties on daily operational issues (under appropriate supervision of Senior/Manager) and regular services review.
• To liaise with internal customers/stakeholders and senior team members to ensure completion of complex or exceptions-based process actions.
• To ensure clear and smooth communication with Fund Accounting Team, Transfer Agency Team, Fund Compliance Team, Custody Team and other operations team for timely updating / maintenance of client records.
• To support Assistant Manager/Manager/Senior Manager, handle and delivery assigned ad hoc project within the deadline.
• Manage and avoid risks to clients, Bank / Group by ensuring prompt and accurate reporting to clients / management, timely rectification and / or monitoring of any discrepancies.
• To provide accurate statistics relating to Key Risk Indicator (KRI) and Key Performance Indicator (KPI) to help measuring and meet division objectives.
• To drive Process efficiency and initiatives
• To conduct RCA and focus on reduction of repeated errors
• Reference the processes for which the Role Holder is responsible, as per the Operational Risk Framework definition of first / second line, for example, Responsible for executing and supervising the Budget process.

People & Talent

• Promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm

Risk Management

• Responsibilities relating to identifying, assessing, monitoring, controlling and mitigating risks to the Group, as well as an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them. For example -The ability to interpret the Group’s financial information, identify key issues based on this information and put in place appropriate controls and measures. All responsibilities under the Risk Management Framework – both execution and supervisory – should be referenced, for example, Act as the [Process] risk control owner under the Group’s Risk Management Framework (including relevant Operational Risk Framework ownership for [Liquidity] risk
• To ensure all control/operating procedure and documentations are properly followed.
• To ensure compliance to all established procedures, regulations and the Group Guidelines.
• To keep track of changes (internal and external) affecting Clients and communicate such changes along with impact analysis, on a pro-active basis, through newsflashes, market insights, operations guides and through other routine communication.

Governance

• Responsibilities relating to the direction, planning, structure, frameworks (e.g. processes and policies) and oversight. For example, Responsible for assessing the effectiveness of the Group’s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas; Awareness and understanding of the regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.
• In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management are informed and that actions are taken quickly to remediate and/or activities are ceased.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• To deliver in class service in accordance with established procedures, regulations & laws to protect client interest and to exceed client expectations.
• Effectively and collaboratively identify, escalation, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

• SSO Management team in HUB, Group and Country.

Other Responsibilities

• Embed Here for good and Group’s brand and values in SSO,
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
• To monitor if all the cut-offs have been met with.
• To ensure that the DOI’s are updated whenever procedures change.
• To have control over pending instructions and follow up for the same.
• To track / report and elevate errors and volumes on a daily basis.
• To plan effective resourcing of staff to handle high volumes during peak time.
• To ensure staff follow all control measures and implement any new control as required.
• Compliance with the Departmental Operating Instructions manual and within the Timeliness and accuracy standards specified.
• Upholding the Values of the Group and Company at all times
• Continuous Improvement in Productivity to the standards prescribed for the Processes from time to time.
• Compliance with all applicable Rules/ Regulations and Company and Group Policies.
• Carry out all back-up related activities and support other sites and processes as and when suggested by line manager.
• To manage risk and compliance in the processes and put in controls to maintain the same by maintaining low error rate.
• Comply with Group Money Laundering Prevention Policy and Procedures to the extent applicable and reporting all suspicious Transactions to the Line Manager.
• Carry out tasks and projects as required by the Line Manager from