Manager, Fund Accounting
Bank Islam Malaysia Berhad
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Job summary
Bank Islam Malaysia Berhad seeks a seasoned Fund Accounting Manager to lead and oversee NAV validation, valuation, and regulatory reporting for multiple funds. You will supervise an outsourced service provider and coordinate audits, ensuring timely, accurate fund data and controls.
You will manage relationships with trustees, regulators and internal stakeholders, drive improvements, and lead a skilled team to uphold governance across fund accounting operations.
Qualifications
- Bachelor's degree in accounting, finance, banking, economics or related discipline.
- Professional qualification such as ACCA, CPA, ICAEW, CIMA, CFA, or equivalent is preferred.
- Minimum 8–10 years in fund accounting/operations and at least 3 years in a managerial role.
Responsibilities
- Oversee fund accounting function and NAV validation, valuation, and reporting for all funds.
- Monitor daily operations performed by the outsourced Fund Accounting Service Provider.
- Ensure accurate processing of corporate actions, settlements, subscriptions and redemptions.
- Review and validate valuation reports and NAV prices prior to publication.
- Coordinate external audits, liaise with auditors, trustees, and regulators.
- Manage regulatory submissions to Securities Commission Malaysia and other reports.
- Review fund expenses, fees, distribution calculations and management reporting.
- Lead process improvements, risk controls, and governance across fund accounting.
- Lead, coach and develop the Fund Accounting team; manage workloads and performance.
Skills
Education
Job description
Lead and oversee the fund accounting function while managing the relationship with the appointed Fund Accounting Service Provider. Ensure accurate and timely NAV validation, regulatory reporting, financial reporting, reconciliation, audit coordination, and compliance with regulatory, trustee, and internal requirements.
Oversee the Fund Accounting function and ensure timely and accurate NAV calculation, valuation, and reporting for all funds.
Monitor daily fund accounting operations performed by the appointed service provider, including valuation, pricing, trade processing, reconciliations, and fund reporting.
Ensure all fund accounting transactions, including corporate actions, trade settlements, money market placements, subscriptions, and redemptions, are processed accurately and within established timelines.
Review and verify valuation reports before NAV publication.
Perform independent validation of daily NAV prices provided by the appointed service provider.
Investigate and resolve NAV discrepancies exceeding approved tolerance limits.
Review position and cash reconciliations and ensure outstanding reconciliation items are investigated, justified, and resolved promptly.
Ensure the accuracy and completeness of fund accounting data and records.
Review and verify monthly and periodic regulatory submissions to ensure compliance with Securities Commission Malaysia requirements.
Oversee and validate:
Fund Management Company (FMC) Report
Unit Trust Fund (UTF) Statistical Returns
Wholesale Fund (WF) Statistical Returns
Unit Trust Investment Returns
Wholesale Fund Investment Returns
Ensure all reports are submitted within stipulated regulatory timelines.
Review Annual Reports, Semi-Annual Reports, Quarterly Reports, and related financial disclosures.
Act as the primary liaison with auditors, trustees, tax agents, Shariah advisers, regulators, and internal stakeholders.
Coordinate external audit activities and ensure audit requirements are fulfilled in a timely manner.
Support trustee annual review exercises and site visits.
Review and prepare fund taxation submissions, including:
Revised Tax Estimates
Retail Money Market Fund (RMMF) withholding tax calculations
Prepare monthly and quarterly management reporting for Group Finance.
Review fund expenses, accruals, fee calculations, and invoices before submission to trustees for payment.
Review and approve income distribution calculations for monthly, quarterly, annual, and ad-hoc distributions.
Serve as checker for distribution proposals and payout calculations.
Ensure management fees, trustee fees, custody fees, and other expenses are properly accounted for and paid accurately.
Manage and oversee the performance of outsourced Fund Accounting Service Providers.
Conduct quarterly and annual service reviews and due diligence assessments.
Monitor service delivery standards, turnaround times, service level agreements (SLAs), and operational risk matters.
Escalate operational issues and drive corrective actions where necessary.
Review and validate valuation, accounting, and reporting for discretionary portfolio mandates (DPM).
Ensure timely and accurate reporting to mandate clients on daily, weekly, monthly, and quarterly basis.
Review AUM, portfolio valuation, performance, and client reporting outputs.
Lead fund launch operational readiness activities.
Coordinate account openings with trustees and service providers.
Arrange Bloomberg ticker setup and tax agent appointments.
Support operational implementation of new products and mandates.
Participate in the review and enhancement of Fund Accounting policies, procedures, and manuals.
Lead annual Risk Control Self-Assessment (RCSA) exercises.
Ensure adherence to internal controls, governance standards, and regulatory requirements.
Identify operational risks and implement mitigation measures.
Lead, coach, and develop Fund Accounting team members.
Provide technical guidance, training, and performance feedback.
Allocate resources and oversee workload management.
Conduct performance evaluations and identify development opportunities.
Participate in recruitment activities, including interviewing candidates and providing hiring recommendations.
Foster a collaborative, high-performance team environment.
Lead process improvement initiatives, automation projects, and operational enhancement efforts.
Participate in strategic business initiatives, system implementation projects, and team-building activities.
Drive efficiency improvements and strengthen operational controls across fund accounting processes.
Bachelor's Degree in Accounting, Finance, Banking, Economics, or related discipline.
Professional qualification such as ACCA, CPA, ICAEW, CIMA, CFA, or equivalent is preferred.
Minimum 8-10 years of experience in Fund Accounting, Fund Operations, Asset Management, Custody, or Investment Operations.
At least 3 years of experience in a managerial or supervisory role.
Experience managing outsourced fund accounting service providers is highly desirable.
Strong knowledge of Unit Trust Funds, Wholesale Funds, Private Mandates, and fund regulatory requirements.
Hirer responsiveness Salary match Number of applicants
Your application will include the following questions:
- Which of the following statements best describes your right to work in Malaysia?
- What's your expected monthly basic salary?
- How many years' experience do you have as a Fund Accounting Manager?
Bank Islam Malaysia Berhad is the pioneer of Islamic banking system in Malaysia. We have grown to become one of the nation’s leading financial institutions, providing a wide range of products and services to meet the financial and banking needs of all Malaysians, regardless of race and religion. A career with Bank Islam means an outstanding opportunity to develop a professional vocation in the ever-challenging banking industry. Be a part of an organisation that is totally committed to developing Malaysia as one of the leading global Islamic financial centres.
Follow our Careers IG @gobeyondatbankislam for more information on our culture and new career opportunities!
Bank Islam Malaysia Berhad is the pioneer of Islamic banking system in Malaysia. We have grown to become one of the nation’s leading financial institutions, providing a wide range of products and services to meet the financial and banking needs of all Malaysians, regardless of race and religion. A career with Bank Islam means an outstanding opportunity to develop a professional vocation in the ever-challenging banking industry. Be a part of an organisation that is totally committed to developing Malaysia as one of the leading global Islamic financial centres.
Follow our Careers IG @gobeyondatbankislam for more information on our culture and new career opportunities!
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