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Intermediate Representative, Fund/Client Accounting
The BNY Mellon Asset Servicing Institutional Accounting department in Breda is responsible for the correct and timely reporting and delivery of the monthly accounting statements and regulatory reports for and to our institutional clients. Under direction of the Supervisor, the Accounting & Reporting Specialist is responsible for the accounting, regulatory reporting and valuation, in accordance with service agreements, internal policies and legal & regulatory requirements. Next to that, the Accounting & Reporting specialist works independently within the team and is the clients point of contact on very regular basis to answer queries and assist in providing solutions for their reporting requirements.
The actual production of all relating daily activities for our client accounts are performed by the Accounting Department in India, US and the UK. The EMEA Accounting & Reporting Specialist is responsible for monitoring the quality, timeliness and coordination of these activities:
- Monthly – monitors if the accounting statements are produced according to client’s directions and the local generally accepted accounting principles (GAAP) within the set deadline.
- Monthly – monitors the reconciliation process between BNYM accounting figures with the Asset Manager’s accounting figures.
- Monthly – produces an (audit compliant) accounting package for assigned clients to be signed off by the Supervisor within the agreed timeframe.
- Monthly – performs consistency checks to ensure that the quality of the accounting data meets the requirements for regulatory and client reporting (Valuation Quality Assurance checking).
The Accounting & Reporting Specialist is responsible for the production of regulatory and other client reports:
- Monthly – produces the DNB DRA reports for assigned clients within the set tight deadlines.
- Monthly – produces the General Ledger Data Feed for assigned clients within the fixed deadlines.
- Quarterly – produces the DNB DRA/FTK/VKW reports for assigned clients within the agreed deadlines.
- Annually – produces the annual report for assigned clients within the set deadlines.
- Ensures that all client inquiries are handled in a timely manner
- Keeps client files, client documentation and client specific procedures up-to-date.
- Addresses any client related issue or system issues to the relevant back office.
- Records and analyses quality breaches.
- Point of contact for external client representatives such as auditors and consultants.
- Contact point for the Performance & Risk Analytics department (P&RA).
- This position is related to the Finance job family. They are similar in nature as they both require a high level of global acumen. It is essential to keep abreast of changes in accounting regulations and methodologies such as IFRS and Solvency II.
- The valuation and regulatory reports which are provided on a monthly basis to our professional clients (Insurance Companies, Investment Managers, Central Banks and Pension Funds) and their regulators (Dutch Central Bank) have to be 100% correct. Any mistake in the valuation could have substantial impact to the client as reports are used to make investment decisions and are being submitted to the Dutch Central Bank or our clients’ behalf. A part from the economic impact for the client, this has a risk of impacting the reputation of BNY Mellon.
- The focus of the incumbent lies predominantly with the client with whom he has frequent, direct contact. This requires a high level of commercial awareness.
- The service provided to the investment companies originally belongs to the client, but has been outsourced to BNY Mellon who acts as an independent party on behalf of the client to perform the monthly accounting and reporting activities for their investment portfolios.
Job Specific Competencies
In addition to the core competencies of Communication Skills, Decision-making and Accountability, Flexibility and Adaptability and Managing Risk the associate should show an aptitude for:
- Personal Organisation
- Work Quality/Attention to Detail
- Problem Solving
- Job Proficiency
- Initiative/Sense of Urgency
- Client Focus
- Developing effective relationships
Technical Skills, Knowledge, Systems Knowledge (and associated skill level)
- Accounting skills: good knowledge and experience in the Portfolio Accounting, strong bookkeeping background is essential.
- Analytical skills: read, analyse, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
- Excellent numerical skills, analysis & checking of figure work.
- Experience of using Microsoft Office products, in particular experience of the Excel software is essential . Utilising advanced functions would be desirable.
- Experience in institutional accounting processes, particularly knowledge of IAS on a daily or monthly valuation basis.
- Experience with the institutional accounting systems (QMF, Workbench)
- Excellent organizational skills: is extremely well organized and is able to prioritize and meet stringent deadlines. Ability to stay focussed on the end-goal, report on mile-stones and is capable of working under a certain amount of (time-) pressure.
- Fluent Dutch and English language skills (speaking and writing).
Academic/Professional Qualifications (or equivalent qualifiers)
- HBO (Bachelor) degree in business economics, accountancy or relevant other Bachelor degree.
- Two to four years related relevant experience and/or training; or equivalent combination of education and experience.
- Experience in Portfolio Accounting is desirable.
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
Client Service Delivery (CSD) brings together BNY Mellon's key operational areas into one global team to better support the company's businesses and serve clients around the world. CSD helps clients to conduct business, service assets, and engage in transactions in 35 countries and more than 100 markets. At every stage of the investments lifecycle - creating, trading, clearing, settling, holding, servicing, managing, distributing and restructuring assets - CSD is working to make BNY Mellon the recognized industry service quality and productivity leader. Client Service Delivery manages investment monitoring, measurement and processing services for our clients. Our solutions include Securities Operations, Fund Administration, Transfer Agency, Outsourcing, Performance Measurement and other related services.
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: Netherlands-Breda-Breda
Job: Asset Servicing
Internal Jobcode: 70513
Organization: Glb Inst Acctg Risk Solutions-HR14005
Requisition Number: 1800989