KIID Co-ordinator recruitment

MG Investments is Prudential plc's UK based fund management business and is one of Europe's leading active asset managers with more than £202 billion* of funds under management across fixed income, equity, property and multi-asset strategies.

-*as at 31 March 2012

Overview
Prior to 17th February 2012 investors were provided with a single document, the Simplified Prospectus (SP), either before or after placing deals with MG and Prudential. The European Securities and Markets Authority (ESMA) deemed this document to be too long and confusing for investors.

Therefore the Key Investor Information Document (KIID) was introduced to increase the transparency of important information.

The KIID is a two page document, produced at share class level, which covers the key elements of a fund.

Introduction of these documents has changed our dealing processes. Unlike the SP, the KIID is a pre-sale document. Therefore, clients cannot place a deal unless they provide confirmation that they have received the latest KIID in the share class they wish to invest in.

MG and PUTL implemented KIID documents on 17th February 2012. There are approximately 1,400 KIID documents (pre RDR) that are available either in the UK or in one of the European jurisdictions where MG funds are available for sale. And this volume will increase.

Reason for a KIID Co-ordinator position:
We are very constrained by the requirements of some European regulators in how and when we can file and subsequently sell our share classes/funds in the relevant countries. This has resulted in moving away from a linear single release process for KIIDs to a staggered and in some cases undefined release schedule for European KIIDs. These requirements are no different from pre-KIID releases but the KIID distribution process was built/designed off the assumption of a singular update of a KIID across all countries.

In defining the operating model for creating new KIIDs and updating existing KIIDs, and through the experience of inflight projects managing KIID changes in live, it has become apparent that some of the core steps of the process are not owned by a single business area in MG.

The culmination of these 2 issues has resulted in either
- Key tasks not having a defined business owner; or,
- Business areas who had assumed an automated solution could be delivered can now no longer support the KIID operating model due to internal capacity issues in supporting a manual process.

The fundamental gaps in the process are control and distribution related and are evident at the initiation of the KIID process and at the end. Currently there is no single oversight role in MG that knows the status of each KIID document, i.e. what documents are going through change and of these which have been distributed to our 3rd parties.

Therefore, following careful analysis of the gaps in the process the KIID project reached a recommendation that there should be a KIID manager role created in the organisation which acts as a 'gateway' into and out of the KIID production tasks.

Key responsibilities

We are looking to recruit a confident, organised and personable individual who will be responsible for:
- Oversight of the end to end KIID distribution process including:
oIssue URL updates as required to relevant 3rd parties
oOwn and co-ordinate the maintenance of the 3rd party address book
oLoad KIID PDFs to IOS and Kurtosys SFTP sites
oAuthorise the KIIDs in the Funds Library quarantine area.
oPromote KIIDs to live on the intranet
oCommunicate to other departments that KIIDs are distributed as required

- Manage the schedule of KIID changes
- Single point of contact for all KIID distribution and scheduling related issues
- Maintain the list of KIIDs produced and undertake an annual audit of this list
- Identify and escalate potential efficiencies in current processes
- Support improvements to the established process as and when required
- Maintain the KIID Operating Model document
- Assist other areas e.g. Compliance in the update and delivery of KIIDs where required.
- Embed detailed KIID processes into the business areas that are either supplying data or information for KIID production. Ensure that these areas understand their responsibilities.

What we are looking for
A candidate who is:
Essential

- Organised and methodical.
- Able to plan and prioritise effectively, and reprioritise where necessary.
- Structured, flexible and good attention to detail
- Good time management skills
- Ability to work well under pressure
- Proactive and able to use initiative
- Friendly, positive 'can do' attitude
- Approachable and helpful, with good interpersonal skills
- Good communication skills
- A logical thinker
- Competent user of MS Power Point, Word and Excel

Desirable

- Previous knowledge or experience of KIIDs would be beneficial
- Previous knowledge of MG funds and products would be beneficial

MG is an equal opportunities employer and welcomes applications from a diverse background.