Location: India Maharashtra Mumbai - Goregaon (R-Tech)
Organization: Financial Services
Job Description:
Job Purpose
The purpose of this job is :
oTo skilfully execute all the vital cyclical activities within fund accounting operations such as
oPreparing and maintaining the expense master & updating expense changes
oCarrying out vital reconciliation activities such as NAV change report
oCarrying out dividend rate calculations on an Adhoc and cyclical basis
oConducting checks on financials/portfolios
oEnsuring NAV uploads
oPreparing vital MIS and regulatory/ internal compliance reports
in a timely, accurate and compliant manner
oTo run regular checks on the output/ deliverables of the Fund Accountant to ensure accuracy
oTo highlight critical reconciliation or process gaps in a timely manner to the right stakeholders for resolution
Job Context & Major Challenges
Job Context & Challenges:
Job Context
Key facets :
oNAV computation lies at the heart of the transaction cycle and hence accuracy of internal processes that feed in to the NAV calculation , without exceptions, become extremely critical to business operations as a whole
oCritical vendor dependencies exist for fund accounting process and hence monitoring accuracy and timeliness of both inputs to vendors as well as deliverables from the vendors becomes vital
oHigh transaction volumes and specific time windows of operation. Transaction accuracy crucial from regulatory, reputational and profitability perspectives
Key Challenges
oTo maintain data integrity and accuracy despite large volumes and business volatility
oTo ensure checks are put in place for all process and sub process steps in order to minimize errors
oTo manage stringent timelines across all processes and stakeholder requirements
oTo stay updated on the requirements of the regulators – SEBI, RBI, AMFI and ensure that the requirements are being complied with
oTo identify gaps in a timely manner through reconciliations
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)
Supporting Actions (Max 1325 Characters)
KRA1
Dividend Declaration
oProvides inputs for dividend rate calculation based on NAV, distributable surplus & logic provided by sales team & by referring to the calendar for dividend cycles
oEnsures rate approval by sales head
KRA2
Expense Administration
oTracks expense master for over 120 schemes
oWorks with Fund Accountant , Products Team, Fund Managers & Finance to
oOperationalize expense changes
oTo ensure changes are within regulatory [ SEBI] limits
oTo check finance calculations
oTo check if the Trial Balance reflects the changes correctly
oUploads expense structure on BSLAMC website after all relevant checks
KRA3
NAV Checks & Upload
oNAV Computation Checks
oChecks if dividend has been given as per dividend cycle
oChecks dividend rate against distributable surplus
oChecks for base NAV breach
oNAV Change Report
oCompares previous day to current day and reports exceptions [Abnormal movement of capital balances ]
oReports outstanding
oNAV upload
oUploads NAV two days after quarter closure
oEnsures accuracy of NAV upload on AMFI
website
KRA4
Financials & Portfolio Checks
oChecks financials received from Fund Accountant and highlights errors if any for correction
oPublishes financials on a half yearly basis on the website
oEnsures what is published is completely reconciled with Fund Accountant output