Fund Accounting - NAV Construction Job Title: I Grade, Lead Analyst Grade: I Job Code: 70508 Department: Fund Accounting - NAV Construction Location: Pune Reports to: Lead Manager Typical Shift Hours: EMEA: 12:30 - 11:00 PM IST BNY Mellon is a global financial services company focused on helping clients managing and servicing their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team Team Description Complete the NAV. Review NAV impacting exceptions and make NAV correcting entries where needed. Examples but not limited to:
- Review Cash and Asset reconciliations – investigate exceptions
- Update Accounting Platform (Eagle, InvestOne, IAX) based on cash exceptions
- Make corrections to NAV impacting events where required and supply substantiation to NAV review team
- Income and Expense – Processing and review
- Daily Dividend and Yield Review
- Transaction close - Review exception Management
- Review of valuation Impacts from Control Center
- Run NAV controls - review exceptions, supply substantiation to NAV review team
- InvestOne – Shadow Accounting
Eagle/Invest One, Workbench, TLM, Prime broker websites, Bloomberg, Business Objects, Client Inquiry etc. Roles & Responsibilities The Lead Analyst (Core Fund Accounting) reports to the Lead Manager (Core Fund Accounting) and is responsible for managing a group of accounting professionals who will in turn perform the fund accounting function of calculating NAVs / NAV related processes for Hedge Funds, Mutual Fund, Separate Accounts, Commingled Trust and/or Limited Partnership entities. He/she manages through supervisory staffs that are collectively responsible for ensuring that different funds are processed on time and all the activities related to fund are performed. He/she is supposed to review all the processed funds and check those for accuracy. He/she has to ensure that the departmental policies, procedures and best practices are followed, while also ensuring client deliverables are met. He/she is required to maintain proper MIS for the Senior Management. He/she is also required to coordinate with the Business Partners to meet their expectations. He/she is expected to manage staff reporting to them & taking care of leaves, training, performance appraisal, continuous improvement, resource allocation & the resolution and escalation of any daily issues. He/She is also responsible for ensuring adequate staff coverage, reviewing daily/monthly operational/control reporting, addressing ad hoc requests from clients, handling accounting issues as they arise, actively interact with On Shore Client teams and utilities, identifying and escalating issues to management, providing guidance to staff and conducting performance management reviews.
Manage a staff of 10+ responsible for the processing and support of complete, accurate, and timely valuation and financial statements for daily and monthly valued clients
He/she must effectively work with all groups throughout Asset Servicing in order to provide joint solutions to complex client issues
He/she will control/mitigate risk related to unique client requirements
He/she will ensure that each customer's accounting information is in adherence with all BNYMellon internal policies as well as Investment Company Act of 1940 and other U.S. applicable regulatory requirements
He/she must effectively use his/her knowledge and understanding of our business in order to appropriately manage the risk inherent in Fund Accounting relationships and our overall business
He/she will be fully responsible for the Fund Accounting process for her/his staff and will guide staff through change
• Produce NAV calculations for clients assigned to the team - Ensure NAVs are completed on time and accurately
• Ensure that the Pre-NAV activities such as cash postings, investment postings subscription and redemption postings, balancing of inter-company balances and other general ledger postings are done prior to month-end and be reconciled in preparation for the striking of the NAV
• Ensure that month-end NAV books are fully completed, reviewed and checklists are signed off so that the team passes all internal and external audit reviews,
• Review all fund structures to ensure that the appropriate structure is being applied and that fees are being calculated correctly
• Process outgoing cash wires - Ensure wire transfers are processed within the deadline set and that all payments are approved as required
• Assist with internal and external audit requests. Assist in the preparation of year-end audit review package
• Review and sign off on portfolios and statements
• Participate on departmental projects as needed - Involvement in planning, preparation, testing and implementation
• Manage KPIs by identifying issues effectively with strong accounting and financial securities knowledge.
• Take initiative to seek opportunities to enhance either the quality of client services or the productivity in the various areas of the NAV process.
• Ensure all queries from auditors or fund accounting staff are accurately and fully responded to with minimum delay.
• Ensure team leads maintain daily/monthly files in a manner suitable for future review by the fund and internal auditors.
• Take initiative to seek opportunities to enhance either the quality of client services or the productivity the NAV process.
• Manage the preparation of all the weekly/monthly reporting including the management information system (MIS), compliance, client and fund Manager monthly information and reporting. Educational Qualification & Experience * Master’s degree in Commerce or the equivalent combination of education and experience is required. MBA (Finance) Preferred
* 3-4 years core fund accounting experience. 5-7 years of total work experience preferred; experience in accounting support preferred. Key Competencies Functional Competencies:
* Sound Product Knowledge
• Presentation and communication skills.
• Management skills and a client/service delivery ethic in line with AIS’s values and culture.
• Focus on client service delivery.
• Ability to establish credibility at all levels.
• Structured and organized.
• Ability to work under pressure to tight deadlines.
Courage: Steps forward to address difficult issues, offers candid advice, and empowers others to speak up.
Shows Self-Awareness: Shows self-awareness of own strengths and areas for improvement. Is open to and actively seeks
feedback. Addresses own development gaps. Manages against unconscious bias in decision making in self and others.
Adapts to Change: Adapts approach and demeanor in real time to match the shifting demands of different people and situations.
Leads and manages change while maintaining operational sustainability.
Takes Action - Initiative to drive performance, measure results and achieve objectives
Demonstrates Business Insight: Displays acumen and understanding of the business and industry.
Client Focus: Builds strong client relationships and delivers client-centric solutions while mitigating and managing risk.
Manages Complexity: Analyzes a high volume of complex and sometimes contradictory information to effectively solve problems and make informed decisions with calculated risk.
Cultivates Innovation: Endorses innovation and continuous improvement and initiates efforts to implement alternative solutions. Seeks diverse input for breakthrough thinking and transformational ideas. Challenges the status quo and encourages others to question established work processes or assumptions.
Takes Action: Takes on new opportunities and tough challenges with a sense of urgency, high energy and enthusiasm.
Ensures Accountability: Holds self and others accountable to meeting commitments, managing risk and fostering a culture of inclusion.
Manages Execution: Communicates the company’s strategic vision. Translates the strategy into aligned measurable goals for self and teams. Provides direction, delegates, prioritizes, overcomes obstacles, and identifies solutions to achieve goals.
Educational Qualification & Experience
* Master’s degree in Commerce or
the equivalent combination of education and experience is required. MBA
* 3-4 years core fund accounting experience. 5-7 years of total work experience preferred; experience in accounting support preferred.
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: India-Maharashtra-Pune
Job: Asset Servicing
Internal Jobcode: 70508
Requisition Number: 1915063