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
Main Job Purpose
The role is responsible for ensuring the department is compliant with FATCA & AEOI regulatory requirements, internal policies and procedures and governance framework.
The role must deliver quality and timely FATCA & AEOI reporting, for Clients under administration, in accordance with regulatory requirements and agreed service levels. The role requires a high degree of contact and communication with tax authorities, clients and various team members across the BNP network.
Key Responsibilities
- Develop and maintain internal procedures and checklists ensuring in line with Tax Authority, FATCA & CRS policies and governance documents.
- Act as the subject matter expert in respect of FATCA & AEOI for the department and Clients and Investors as required.
- Submit accurate and timely reporting to the various Tax Authorities.
- Review of applicable Self-Certificates at Entity and Investor level ensuring completeness and accuracy of information received.
- Ensure all required data is set up and maintained within internal systems, for accurate and timely reporting to Clients and Tax Authorities.
- Suggest and implement changes to procedures and internal systems for improved automation and end-to-end workflow and controls.
- Build relationships with Administration, KYC, Investor Relations, Static Data and Client On boarding teams as required for effective troubleshooting and successful end-to-end workflow.
- Assist Product with the operational onboarding of new clients in relation to FATCA/AEOI requirements
- Provide support with audit requests, ensuring accurate information is provided in a timely manner.
- Provide frequent (or Adhoc as requested) Client reporting at entity and investor level with details of the entity and investor classifications and reportable information each year
- Assist teams with questions from Clients, Investment Managers, Tax Advisors and Tax Authorities as required.
- Ensure a high quality service to meets the Client Service Level Agreements, updating Clients or Head of Operational Support if changes to regulation, processes or controls are required.
- Report updates, risks and issues to line manager in an timely and efficient manner
- Assist Products with the Request for Proposal (“RFP”) or Request for Information (“RFI”) in relation to FATCA/AEOI requirements.
Other Tasks
- Work within the Operational Support Team to further develop and enhance the Fund Services operational platform and control environment.
Technical Skills
Essential Requirements
- Practical experience of FATCA & AEOI regulations and reporting
- Ability to articulate enhancements into a plan with deliverables
- Microsoft Excel – Intermediate or Advanced user.
Qualifications & Industry Experience
Essential Requirements
- A minimum of 2 years’ experience in a similar environment
- A good working knowledge of FATCA and AEOI regulations
Personal Style
Essential Requirements
- Expert attention to detail
- Effective time management, planning and prioritization
- Good communicator
- Team player
- Results driven
- Ability to share knowledge
- Ability to plan and design change for the better
Business Implementation are responsible for all operational aspects of on-boarding, re-certification and off-boarding of all new and existing clients and investors. The department consists of Account Life Cycle (Client Data Management), On-Boarding & Regulatory Reporting (Client Implementation), Investor Due Diligence (Investor On-boarding and Recertifications) and Client Due Diligence (Client On-Boarding and Recertifications). The Client and Investor Due Diligence Teams are primarily responsible for collating AML / KYC documents to facilitate the re-certification of Clients and Investors, along with Transfer of Interest and Trigger Events. The teams also support the wider remit assisting and supporting with the client and investor on-boarding process. The Business Implementation 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 Investor KYC & Due Diligence Manager will work in close collaboration with Head of KYC and Due Diligence who has overall responsibility for Client and Investor AML Due Diligence. The role holder will have management of the day-to-day activities of the Investor team, including but not limited to investor on-boarding, recertification, trigger events and reporting, along with supporting the wider team to ensure deadlines are adhered to and work is completed and presented to a high standard.
To work as part of the Fund Accounting team at BNP Paribas S.A., Jersey Branch, 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 SLAs, all internal and external deadlines are understood and met and all operational policies, procedures and checklists are followed.
Requirements:
- ACCA qualified or equivalent
- 3+ years fund accounting experience or Big 4 audit background
- Experience servicing PE clients
To work as part of the Fund Administration team at BNP Paribas S.A., Jersey Branch, providing Private Capital fund administration, corporate services and investor services to private capital funds and underlying fund vehicles, ensuring they are fully compliant with fund documentation, legal and regulatory requirements to which they are subject.
Requirements:
Prior experience in PE fund administration.
Interest to study towards a a relevant industry qualification such as CGI.
o be responsible for the set-up/on-boarding and subsequent ongoing accounting of Private Capital funds at BNP Paribas S.A., Jersey Branch, 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.
Requirements:
Excellent working knowledge of fund accounting practices and standards, particularly IFRS, UK GAAP and US GAAP.
Excellent working knowledge of fund structures, fund cash flows and various types of PE transactions.
To fulfil the role of Company Secretary at BNP Paribas S.A., Jersey Branch, to a selection of fund entities.
Key Responsibilities:
Act as Company Secretary to a portfolio of fund boards.
Provide regulatory and procedural guidance to the boards on company related matters.
Review changes in legislation and Corporate Governance, disseminate implications to the team and assist with procedural changes.
Assist with team projects/initiatives.
Requirements:
Ideally hold the CGI qualification or be working towards an industry relevant professional qualification.
At least 2 years relevant industry experience.
To work as part of the Fund Accounting team at BNP Paribas S.A., Jersey Branch, 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.
Requirements:
Part-qualified ACCA or equivalent.
2+ years fund accounting experience or Big 4 audit background.
Experience servicing PE clients.
To work as part of the Fund Accounting team at BNP Paribas S.A, Jersey Branch, 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.
Requirements:
Excellent working knowledge of various Private Capital fund structures (GP/LP/Feeder) and the accounting required for these structures.
Excellent knowledge of UK GAAP/US GAAP/IFRS.
Understanding of Luxembourg GAAP and the Private Capital industry standards and regulations.
To work as part of the fund administration team at BNP Paribas S.A., Jersey Branch, 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.
Requirements:
Finance industry experience in Private Equity fund administration.
Good understanding of fund structures and fund cash flows.
CGI/ACCA/ACA or similar qualification.