NA Fund Services and Clearance Controller recruitment
Job Description:
The North America Fund Services and Clearance Controller is part of the Treasury Securities Services (TSS) Finance team and is responsible for primarily providing Controller support to the North America business in the region.
The Fund Services product provides primarily Fund Administration, Fund Reporting, Transfer Agency, and Compliance/Risk Reporting services to Hedge Funds, Private Equity Funds, Mutual Funds, Pension Funds and Institutional Investors.
The Clearance Product primarily supports 3 areas: administration of commercial paper issuance, clearing bank for Broker Dealers and other high volume clients that trade through the Fed and other global trading agencies.
The TSS Controllers are responsible for the integrity (completeness and accuracy) of financial statements, reporting of information for TSS, and providing guidance around adequate controls to protect the financial risk environment to the business.
The controllership function is dedicated to ensuring accounting principles are applied in compliance with generally accepted accounting principles, tax, legal, regulatory and statutory requirements.
We divide our responsibilities between business as usual processes (i.e. monthly close, financial general ledger reporting and regulatory activities), supporting the risk environment (working closely with risk, audit, operations,
and product ), and strategic projects to support the business (acquisitions, divestitures, business expansion, etc)
This role will require the development of a strong partnership with the Fund Services and Clearance business and a close working relationship with the Fund Services and Clearance Product CFOs as well as with other Product Controllers both regionally and globally.
The North America Fund Services and Clearance Controller will also have involvement with several TSS and Corporate groups across the firm including Credit, Regulatory Reporting, Risk Management, Product Management and Legal Entity Controllers. The role provides a great opportunity for a highly motivated individual to gain exposure to a key TSS product and become a valued partner to the business.
Provide support on new business deals during the original bid and due diligence phases to ensure clarity around financial, regulatory and control riskAssist in producing a robust tax transfer pricing environment across all Fund Services and Clearance productsProvide guidance on financial treatment of
investment initiative cost and tax transfer pricing impactsPartnership with the Business and the Fund Services and Clearance Product and Operations CFOs in order to develop a strong understanding of the product and how its activities translate into financial results to enable the implementation and maintenance of a strong control environment.Provide Legal Entity Controller oversight for entities that do only Fund Services and Clearance businesses including financial reporting, regulatory reporting, external audits, and board meeting participationCoordinate client and business exits from a financial/controllership perspectiveBecome a valued partner and consultant to help drive growth by ensuring active participation in projects and initiatives impacting the Fund Services and Clearance Product to ensure that product changes and expansion are implemented flawlessly from a controllership perspective.Pro-active identification of control risks and management of subsequent project plans to achieve resolution.Effective oversight of the month end close process for the Product and appropriate communication of any significant issues arising through the appropriate chains.Detailed review of the monthly balance sheet and PL for the Product and subsequent provision of variance analysis commentary on material movements on the balance sheets drawing on sound control mind-set and a thorough understanding of the Fund Services and Clearance Product and processes.
Develop expectations of the impact of Product developments, market changes on the overall results.Effective communication of the monthly results to a wide range of senior managers to ensure an understanding of the product balance sheet, highlighting any associated issues and areas of risk.In depth reviews of the balance sheet to ensure appropriate accounting treatment (i.e. compliance to GAAP and Corporate Accounting Policy (CAP)), account classification and controls.
Will involve oversight of results reported in the General Ledger Reconciliation and Substantiation (GLRS) tool to investigate, assess risk and help resolve reported exceptions.
Establishment of QA (Quality Assurance) reviews of the reconciliation and substantiation process.Work with CFOs to produce a robust billing and receivable reporting as well as tracking and resolving billing issuesDevelop strong relationships with the finance team both within the region and globally to ensure effective inter location partnerships and the sharing of best practice.Review CSA and Sarbanes Oxley results and issues related to the product to understand the impact to Product of issues arising.
Liaise with Risk to ensure awareness of events reported and any associated control implications.Understand any regulatory issues within the product company.
Assist in coordination of offshore efforts to build efficiency and consistency in financial reporting deliverables
Qualifications
Candidate Profile:Proven skills in identifying and solutioning control issues that may impact financial results8 years of accounting / financial experienceExperience managing staff or self-management preferredExperience in evaluating the design and effectiveness of internal financial controlsStrong interpersonal, communication and relationship-building skillsAbility to deal with multiple tasks and requests in a fast moving environment coupled with proven ability to prioritise and meet key deliverables.Enthusiastic, highly motivated and effective under tight timeframes and pressureExcellent communication skills including the ability to present complex and sensitive mattersAdvanced Excel skills (formulas, pivots ,etc)Previous financial industry experience an advantage