Head of Depositary team
Hays Financial Markets are exclusively recruiting for a major financial services administration firm in the City who are looking to recruit a key individual with a financial services audit background.
It is likely that candidates are currently at a manager level working for the Top 4 or Top 20 with financial services clients including investment management (ideally Private equity or real estate)
Following a new requirement by the Alternative Investment Fund Management Directive, our client is one of the first firms to offer Depositary Services to both new and existing clients.
The candidate will be helping to grow a newly established and fast growing specialist business which provides services to real estate, private equity and infrastructure funds. In 6 months of starting, they have gained some of the top names in the business, and this part of the business looks to grow rapidly.
This role will have oversight from the Partners/COO and Internal Audit Manager.
- Primary contact for clients with frequent in-person meetings at the clients’ premises.
- Take ownership of a portfolio of clients and customer relationships; devise and implement policies, procedures and checklists.
- Devise and undertake detailed new client take on and risk assessments.
- Cash flow monitoring for all Funds. Responsibility for high level reconciliations, analytical reviews and substantive testing required for all Fund’s bank accounts.
- Responsibility for oversight of thorough reconciliation of all subscriptions and drawdowns / realisations/ payments and distributions / allocations / termination / liquidations prepared by the team.
- Safekeeping verification of assets – review teams records to ensure that appropriate steps have been taken to verify that assets exist and are owned by the Fund, documenting steps taken and evidence obtained to support conclusions reached and maintaining an up to date inventory of all assets held by the Fund.
- Ongoing monitoring and oversight of the Fund’s and Fund Manager’s controls and procedures to ensure that these are acceptable and are being adhered to. This will involve having sensitive conversations with our clients and developing an intimate knowledge of their business.
- A key element in all the above will be the set up and maintenance of detailed files documenting all steps taken when undertaking the above duties as this will be our only protection where we are subject to unlimited liability if we are at fault.
- Responsible for team planning, monitoring deadlines and coaching and developing junior staff members.
- Contribute recommendations for improving the organisation's operations.
Candidates must be Qualified ACA/ACCA and be able to think laterally about the application of their business area to new and existing clients. A great opportunity for someone looking to make their first move out of a major firm into a smaller firm whilst retaining the customer focus and working in a small, yet fast growing business.
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