Main Job Purpose
To work as part of the Fund Accounting team providing fund valuation and accounting services to Private Capital funds and underlying private capital fund vehicles ensuring that they are fully compliant with fund documentation, legal, regulatory requirements and accounting standards to which they are subject
Ensuring that the provision of fund accounting services are aligned with the client SLA’s, all internal and external deadlines are understood and met and all operational policies, procedures and checklists are followed
Reporting to the Fund Accounting Manager or Assistant Manager
Key Responsibilities
Client Relationship and Communication
• Support your Manager in maintaining a high degree of client contact, assisting in ensuring that timely solutions are provided to all client queries
• Work closely with your client counterparts with a partnership approach to service delivery
• Support your Manager in coordinating 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
Key Service Delivery
• Provide input to the drafting of Service Level Agreements when on-boarding new business, whilst also assisting with the required BAU related activities
• Assist with the review of relevant fund documentation and agreeing reporting templates with the client when on-boarding new business
• Prepare and/or review the monthly, quarterly, bi-annual and annual Financial Statements with supporting documentation under various accounting standards (i.e. IFRS, UK GAAP & US GAAP)
• Prepare and/or review monthly valuations, reconciliations of fund draw downs and distributions, accruals, expenses etc.
• Review double entry bookkeeping in the accounting system
• Assist in the review of cash reconciliation and management for the Funds
• Prepare and/or review drawdown, equalisation and distribution calculations in accordance with the Fund documentation
• Prepare and/or review Fund investor capital statements as required
• Work with the Investor Relations and Fund Administration teams to ensure the timely and accurate release of investor reporting
• Where required, attend client and audit meetings as required in relation to the provision of Financial Statements to investors
• Liaise with various external and internal parties (e.g. client, external auditor, other BNP offices etc) in the day to day accounting of the Fund and other custom reporting and projects for specific investor needs
• Liaise with internal and external auditors and assist with the year-end/interim audit process via a monitored timetable and audit requirement list
Team Management
• Support your Manager in the supervision and training of more junior team members
• Ensure that any new joiners to your team have a positive onboarding experience
• Ensure compliance with all relevant internal processes, procedures and controls when discharging your Fund Accounting duties, using the appropriate system or platform in order to do so
• Provide input in relation to the review and monitoring of existing business process, procedures and checklists to maximise efficiency and productivity in the Private Capital Team
• Execute group project opportunities relating to the implementation of new systems or platforms and the appropriate operational procedures
Technical Skills – Essential Requirements
• An excellent working knowledge of various Private Capital fund structures (GP/LP/Feeder) and the accounting required for these structures
• Excellent knowledge of US GAAP/UK GAAP/IFRS
• Good time management skills
• Good prioritisation skills to deal with a high volume of time sensitive tasks quickly and appropriately
• Sound analytical and problem solving skills
• Good working knowledge of Microsoft Office Package with emphasis on Excel and Word
Technical Skills – Desired Requirements
• Understanding of Luxembourg GAAP requirements
• Understanding of wider Private Capital industry standards and regulations
Qualifications & Industry Experience – Essential Requirements
• Appropriate professional qualification in accountancy
• Experience within the finance industry with knowledge of accounts preparation or valuation in equity, debt and private capital funds
Qualifications & Industry Experience – Desired Requirements
• Experience of working in a multi-cultural environment
• Experience of working to tight deadlines and capable of working independently
Personal Style – Essential Requirements
• To be a team player and to help and step in to assist other members of the team when required
• Good interpersonal and communication skills and able to deal with various parties both internal and external
• Organisational skills are key, with an ability to manage workload and to meet all deadlines
• Demonstrate motivation and ability to learn new applications and processes
Personal Style – Desired Requirements
• Ability to work consistently to meet client deadlines
Regulatory
- Complete a minimum of 25 hours CPD training per annum
Main Job Purpose
To work as part of the Fund Administration team providing Private Capital fund administration,
corporate services and investor services to private capital funds and underlying fund vehicles
ensuring that they are fully compliant with fund documentation, legal and regulatory requirements
to which they are subject.
Ensuring that the provision of fund administration services are aligned with the client SLA’s, all
internal and external deadlines are understood and met and all operational policies,
procedures and checklists are followed.
Reporting to the Fund Administration Manager.
Key Responsibilities
- Preparing fund distribution and call notices to investors in accordance with the fund agreements and legal and regulatory requirements, including liaison with the Investor Relations team regarding the sending of notices to investors
- Work with the Investor Relations team to deal with ad hoc investor queries and maintaining databases
- Prepare payment instructions accurately for approved invoices, FX transactions, investments, distributions and any other ad hoc payments
- Work with the Investor Relations team to update and control static data of investors of the Funds, including bank details
- Assist in analysing investment proposals to ensure potential fund acquisition meet fund investment criteria
- Liaise with specialist internal operations such as compliance and CDD to ensure that funds comply with statutory and regulatory requirements
- Upload invoices in BNPs proprietary workflow management system and maintain accurate data records
- Assist in execution of documents and ad hoc administrative client and investor requests
- Liaise with various external and internal parties in the day-to-day administration of the Fund and other custom reporting and projects for specific investor needs
- Assist the team with internal and external auditor requests and assist with the year-end/interim audit process via a monitored timetable and audit requirement list
- Assist the Corporate Services team with the preparation of board packs as required for all scheduled and ad hoc board meetings
- Provide input in relation to the review and monitoring of existing business processes, procedures and checklists to maximize efficiency and productivity in the Private Capital Team
- Execute group project opportunities relating to the implementation of new systems or platforms and the appropriate operational procedures
- Ensure compliance with all relevant internal processes, procedures and controls when discharging you Fund Administration duties, using the appropriate system or platform in order to do so.
Technical Skills – Essential Requirements
- Proper and effective administration skills
- Good time management skills
- Good prioritisation skills to deal with a high volume of time sensitive tasks quickly and appropriately
- Sound problem solving skills
- Good working knowledge of Microsoft Office Package with an emphasis on Excel and Word.
Technical Skills – Desired Requirements
- Good understanding of fund structures and fund cash flows
- Good understanding of the Private Capital industry
Qualifications & Industry Experience – Essential Requirements
- An interest to study towards a relevant qualification
Qualifications & Industry Experience – Desired Requirements
- Prior experience of Private Capital and fund administration
Personal Style – Essential Requirements
- To be a team player and to help and step in to assist other members of the team when required
- Good interpersonal and communication skills and able to deal with various parties both internal and external
- Organisational skills are key, with an ability to manage workloads and to meet all deadlines
- Demonstrable motivation and ability to learn new applications and processes
- Good attention to detail
Personal Style – Desired Requirements
- Ability to work consistently to meet client deadlines
Main Job Purpose
To work as part of the Fund Administration team providing Private Capital fund administration, corporate services and investor services to private equity funds and underlying private equity fund vehicles ensuring that they are fully compliant with fund documentation, legal and regulatory requirements to which they are subject.
Ensuring that the provision of fund administration services are aligned with the client SLA’s, all internal and external deadlines are understood and met and all operational policies, procedures and checklists are followed.
Reporting to the Fund Administration Manager.
Key Responsibilities:
- Prepare fund distribution and call notices to investors in accordance with the fund agreements and legal and regulatory requirements, including liaison with the Investor Relations team regarding the sending of notices to investors
- Work with the Investor Relations team to deal with ad hoc investor queries and maintaining databases
- Prepare and/or review payment instructions accurately for approved invoices, FX transactions, investments, distributions and any other ad hoc payments
- Prepare and/or review investor correspondence template (i.e. for sending of monthly financial reports and notices) where relevant
- Work with the Investor Relations team to update and control static data of investors of the Funds, including bank details
- Assist in analysing investment proposals to ensure potential fund acquisition meet fund investment criteria
- Liaise with specialist internal operations such as compliance and CDD to ensure that funds comply with statutory and regulatory requirements
- Assist in updating the foreign exchange and invoices log
- Prepare and/or review bridge facility reporting required for the funds Assist in execution of documents and other ad hoc administrative client and investor requests
- Liaise with various external and internal parties (e.g. client, external auditor, other BNP offices etc) in the day to day administration of the Fund and other custom reporting and projects for specific investor needs.
- Liaise with internal and external auditors and assist with the year-end/interim audit process via a monitored timetable and audit requirement list
- Assist the Corporate Services team with the preparation of agendas, board minutes and board packs as required for all scheduled and ad hoc board meetings
- Assist the Corporate Services team in updating logs including minutes, shareholder and loan note registers where required
- Assist with the preparation and compilation of board packs
- Ensure compliance with all relevant internal processes, procedures and controls when discharging you Fund Administration duties, using the appropriate system or platform in order to do so
- Provide input in relation to the review and monitoring of existing business processes, procedures and checklists to maximize efficiency and productivity in the Private Capital Team
- Execute group project opportunities relating to the implementation of new systems or platforms and the appropriate operational procedures
Technical Skills – Essential Requirements
- Proper and effective administration skills
- Good time management skills
- Good prioritisation skills to deal with a high volume of time sensitive tasks quickly and appropriately
- Sound problem solving skills
- Good working knowledge of Microsoft Office Package with an emphasis on Excel and Word
Technical Skills – Desired Requirements
- Good understanding of fund structures and fund cash flows
- Good understanding of the Private Capital industry
Qualifications and Industry Experience – Essential Requirements
- An interest to study towards ICSA/ACCA/ACA or a similar qualification
Qualifications and Industry Experience – Essential Requirements
- Prior experience of Private Capital and fund administration
Personal Style – Essential Requirements
- To be a team player and to help and step in to assist other members of the team when required
- Good interpersonal and communication skills and able to deal with various parties both internal and external
- Organisational skils are key, with an ability to manage workloads and to meet all deadlines
- Demonstrable motivation and ability to learn new applications and processes
- Good attention to details
Personal Style – Desired Requirements
- Ability to work consistently to meet client deadlines
The main purpose of the OPC (Operational Permanent Control) team locally is to ensure the effective management of the group policies and procedures to maintain and enhance a robust risk and operational control framework with regard to the first line of defence.
The Head of OPC and the OPC team collaborate locally and globally to manage the non-financial Risk and permanent control framework within the Channel Islands. Their activities cover all operational risks listed in the Group risk libraries, which include but are not limited to fraud, outsourcing/shoring, conduct, IT, GDPR, compliance and breach of regulations.
The post holder has line management responsibility for the resources employed within the OPC function.
Key responsibilities, include the effective implementation, stakeholder engagement, management and quality assurance relating to:
- All aspects of Procedure management (implementation, application, cascading)
- Identification, management and cascading of the risks through the Risk and Control Self-Assessment framework, in close collaboration with key stakeholders
- Ensure the control plan is maintained and enhanced, and control results are reviewed and analysed by the management of the location and when relevant by operational teams / relevant stakeholders and that, according to the results, action plans are defined if needed locally.
- Incident managed to include analysis, quality reviews and corrective measures that have to be implemented, jointly with the relevant stakeholders
- Contribute management information, KPIs and reporting to organized committees and meetings
- Lead a high performing OPC team that positively delivers against the department goals and local strategy
- As a manager, ensure full compliance with Conduct policies
Competencies
- Broad Operational Risk and Control Management experience and risk awareness
- High attention to detail and a strong commitment to quality control
- Effective stakeholder engagement
- Effective Time Management: Be able to work on multiple assignments and complete high-quality work against strict and competing deadlines, with timely updates to stakeholders
- Effective Communicator with excellent writing, reporting and verbal communication skills
- Personal Conduct: demonstrates the highest levels of ethics, integrity and conduct
- Competent and positive people management skills, leading by example
- Effectively communicates and manages change; solution driven
- A can-do attitude with a strong ability to work on own initiative
- Accountability – takes initiative and is accountable for their role
- Analytical ability, with some knowledge of Tableau/PowerBI reporting tools (or similar) a plus
Main Job Purpose
The Business Implementation (BI) Team are responsible for all operational aspects of on-boarding and off boarding of all new and existing clients, in order to provide a consistently exceptional client experience.
The BI business line is undergoing a period of transformation, working towards digitalization, introducing new systems and methods of working to streamline existing processes and deliver efficiencies.
The Standing Data team are an integral part of BI, who undertake the standing data activity to get accounts opened, closed and updated on internal systems.
Main duties include:
- Input or review & validate data relating to securities and/or cash account opening, closing or maintenance in accordance with Group and local policies, procedures, and controls
- Subject matter expert for all Standing Data related topics, mainly account opening, amendments, closures and enquiries whilst acting as reference point for the business
- Develop strong relationships across all internal areas that utilize the Standing Data team to deliver excellent client service whilst adhering to a strong risk controls framework
Key Responsibilities
- Ensure complete and accurate data input into systems based on the information received
- Maintain accurate records of arrangements and data changes
- Support any initial outsource process as required and then provide the oversight of any key functions outsourced to centralized service hubs.
- To identify opportunities to create further efficiencies through improved processes whilst mitigating risk.
- Assist documenting processes and procedures
- Project support to implement initiatives and efficiencies across the wider department
- Adhere to compliance, credit, operational and key control processes and regulatory requirements
- Ad hoc support and assistance to other areas within Business Implementation as required.
Technical Skills – Essential Requirements
- Knowledge of Global Financial markets
- Communication via e-mail and telephone
Technical Skills – Desired Requirements
- Comprehensive knowledge of operational systems, processes and procedures
Qualifications & Industry Experience – Essential Requirements
- An understanding of global custody
- Proven track record in a similar environment
Qualifications & Industry Experience – Desired Requirements
A minimum of 5 years’ experience within a Securities environment
Personal Style – Essential Requirements
- Accurate and efficient
- Client focus
- Clear communication
- Team player
- Risk management
- Ability to work under pressure
Personal Style – Desired Requirements
- Self-motivated
- Creative and innovative
- Results driven
- Sharing knowledge
Director – Head of Mezzanine Funds
Main Job Purpose
- Provide active leadership within our Private Capital Client Delivery Team with special focus on Mezzanine funds. Being part of a wider management team whose collective responsibility is to support both each other, the location and BNP Paribas group objectives.
- The role is primarily responsible for managing and driving Client Delivery across the Mezzanine Funds strategy to our Channel Islands clients within the Alternatives Segment which includes working closely with the Strategic Transition team alongside Operational Support, Corporate Services and the Banking teams for both new and existing business.
- The role involves a high degree of client contact and communication on a day to day basis and helps drive the provision of a range of accounting and administration services to our clients flagship private capital investment funds along with their related corporate entities.
- The role requires high levels of co-ordination both locally and with other Client Delivery teams in both the CI and other service centres such as Luxembourg, Cayman, Delaware and our International Operational Centres (IOC) as these develop. The role requires a forward looking outlook providing input to an evolving operational model that services production of our clients’ requirements covering the three core elements of Platform, People, and Processes. The incumbent takes management responsibility for our clients’ day to day deliverables, reporting to the Head of Private Capital Client Delivery.
- Within BNP Paribas Securities Services there is special emphasis on growing our Private Capital book of business including debt, mezzanine, fund of funds, infrastructure, real estate and a broad range of other asset classes. The role makes a significant contribution to servicing the needs of our clients’ offshore funds business, and helping to drive our alternatives strategy.
Key Responsibilities
Service Delivery
- To manage the Client Delivery team responsible for the day to day production of new and existing client business (Fund Accounting, Fund Administration) working with other relevant teams within the Business.
- To ensure that our clients regulated and unregulated structures remain fully compliant with the relevant legal/ regulatory requirements, fund prospectus, structuring and applicable accounting and administration standards on an ongoing basis.
- To ensure the day to day accounting and administration of client’s funds are in line with the agreed SLA’s and contractual terms. Such SLA’s and terms being revised in line with the clients evolving requirements.
- To ensure that production is of a consistently high quality and delivered in a timely manner within an appropriately managed risk framework. Managing any commercial drift in respect of pre-agreed terms, new activities and client requests in conjunction with Client Line, Controls and Legal teams.
- To provide active communication and direct client engagement on the day to day production of accounting and administrative deliverables ensuring the teams work in a manner that is client focused.
- Ensure all relevant controls, checklists and workflows are validated and implemented to support the production requirements. Where trans-jurisdictional structures are implemented, work with the wider group to ensure the clients structures are supported and managed in a seamless fashion with other agreed BNP Client Delivery teams and relevant third parties (directors, service agents, accountants etc).
- To ensure fees and billing are in line with client tariffs and processed promptly in line with client collection terms. To review the output of time sheets to ensure they are completed correctly, in god time and reflect the work being undertaken. Where additional activities are noted outside of client terms referring these for potential inclusion in revised tariffs.
- To gain significant knowledge and awareness of our operational capabilities of our platforms (e.g E-front/ Multifonds and other bank applications) as applied to day to day production.
Strategic
- To review profitability, costs and the allocation of resources with the Head of Private Capital Client Delivery, Client Line and Finance to ensure that it correctly reflects the work being undertaken across our clients funds, together with any recharges received or claimed by the location.
- To provide a positive contribution towards working with both local and global teams to optimise the delivery of our services. The role provides connectivity at local level, but also within the wider BNP Paribas group as it involves working with other locations and SME’s in delivery of the clients requirements to ensure that global capabilities are leveraged to the maximum extent.
- Working with the Head of Private Capital Client Delivery, and the Senior Management team to ensure we consistently optimise the target operating model and IT model for delivery of fund administration/fund accounting services. Whilst the role is responsible for production of key accounting and fund administration deliverables, the role also engages with the Client Service team, Client Line and Relationship Management (at both a local and a global level).
- Whilst supporting the development of a target operating model, consider at all times the operational risk relevant to the clients production requirements to ensure we develop our activities in the safest possible environment. Ensure all appropriate controls are implemented at the outset and procedures are understood in production. Working with the Operational Support and Strategic Transitions team, maintain an environment of self-audit that delivers a robust framework for newly implemented and existing business.
- Work with the Client, Sales, Client Line and Strategic Transitions teams in understanding how our day to day operational services can meet clients’ current and developing requirements, regulatory requirements and market requirements in order to contribute towards a set of solutions and services that are profitable, client aligned, efficient, risk managed and competitive.
- Work with Client Line, Legal and the Control teams in developing the appropriate contractual documentation and SLA’s to support the client offer.
- Work with product on the setting of commercial tariffs with particular attention on costs and resource application based on the activities and structures being contemplated. Attend BAC (Business Acceptance Committee) where required, in respect of all new business proposals and validation of the service requirements.
- Stakeholder Management including liaison with various Fund Sponsors, Auditors, Board Directors, Trustees, Regulators and other external and internal bodies on the day to day management of the clients funds. Ensure integration with the wider Private Capital business and good co-ordination of both local and global stakeholders.
- Ensure that the local teams are aware of the global Private Capital community and initiatives and that that they are integrated in to the network and able to participate in cross-location work streams.
- From time to time and only when explicitly stated, to act as an alternate to the Head of Private Capital Client Delivery for governance meetings and empowered as their deputy for clients & external providers.
Team Management
- In line with the BNP Paribas Management Principles, develop the culture and provide leadership and advice to staff responsible for the operational delivery to the client to ensure that the maximum level of efficiency, productivity and client service is developed in line with our strategic ambition.
- Help lead, develop, motivate and retain staff, ensuring proper resource plans are in place for new and existing business working with Senior Management and HR to achieve this. Support the production of career ladders for staff, training and development in line with their personal development and our business strategy. Ensure managers manage their staff with similar objectives of building competency, capability and development alongside their day to day technical production. Build succession planning into the operational model.
- Help shape, build and steer the structure of a growing team giving consideration to the businesses forward looking requirements and client’s developing needs whilst maintaining a sustainable, profitable and progressive business.
- Participate effectively in the recruitment and employee on-boarding process, ensuring that all new joiners receive a positive induction process and that the probation process is conducted appropriately.
- Identify training needs within your team and liaise appropriately to secure the relevant support to upskill the work force as required.
- Be accountable – and drive accountability within your team – for general management responsibilities such as objective setting, performance and absence management as well as regular team and one to one meetings.
Technical Skills
Essential Requirements
- Excellent management and team building skills with ability to demonstrate leadership.
- Extensive practical experience of Alternative Fund Structures (Private Equity, Debt, Infrastructure, Real Estate etc).
- Proper and effective accounting skills and good understanding of financial reporting standards (IFRS/UK/US and other GAAP), valuation and accounting disclosure for complex financial instruments.
- A thorough, detailed knowledge of various Private Capital structures, and the administration and accounting for these structures.
- Knowledge of valuation of complex financial instruments and understanding of economics behind such transactions.
- A thorough knowledge of the Banks operating platforms for Accounting and Administration ( FIA / MFFA) and how best to utilize the platform to optimize processes and deliver client requirements in a risk managed way
- Familiar with Private Capital Services controls and procedures to ensure compliance and minimize risk.
- Knowledge of industry recommended standards (e.g IPEV, BVCA, ILPA). Interest in developing standards.
- Ability to articulate structuring documentation into an operational model.
- Ability to articulate operational requirements into a strategic plan with deliverables.
Desired Requirements
- Ability to work in a multi-national environment.
- Positive approach and forward looking thinking taking into account the evolving technical requirements.
Qualifications & Industry Experience
Essential Requirements
- Professional Accounting Qualification (ACCA/CA).
- Minimum 10 years experience in Management Role with private equity, real estate funds industry..
- An excellent working knowledge of offshore funds and the relevant legislation and regulations e.g Jersey Funds Codes.
Personal Style
Essential Requirements
- Good communicator
- Leadership
- Team player
- Ability to share knowledge
- Results Driven
- Organisational Sensitivity
- Vision
- Inspiring and developing others
- Decisive
- Ability to draw opinion, seek views, think broadly around the subject matter
- Ability to plan and design change for the better
Ensuring that the provision of fund accounting services are aligned with the client SLAs, all internal and external deadlines are understood and met and all operational policies, procedures and checklists are followed.
- ACCA qualified or equivalent
- 3+ years fund accounting experience or Big 4 audit background
- Experience servicing PE clients