Custody Services and Account Oversight - 12 Month FTC
We are not your average financial services firm and our unique culture is just one aspect that makes us stand out from the crowd. We offer a supportive environment that encourages innovation and creativity whilst maintaining a healthy lifestyle balance. You will be joining one of Europe’s leading Investment Management firms where you can expect real responsibility and recognition from day one. We are large enough to offer a wide variety of career opportunities, whilst small enough to treat you as an individual and tailor training and development to your specific needs.
This role will focus on two main aspects, the first being Custody Relationships. The purpose of this will be to assist the management of Custodian Relationships. This will involve a range of accountabilities including monthly/ quarterly custodian service review meetings, operational and service benchmarking, preparation, maintenance and enhancement of operational service level agreements, supplier and regulatory change management and the promotion of the custody service functions within M&G.
The second is Custody and Account Oversight Administration. This ensures the smooth running of new fund launches via the Client Control Document, coordination of Custody/bank/GMM account maintenance including semi-annual reconciliation of the bank account database, Standing Instructions and MM deposit accounts, management and coordination of claims, losses and debit interest processes.
You will be responsible for the following tasks:
• Coordination and diary management of external Custodian operational service review meetings.
• Preparation and analysis of feedback/ KPIs and issue logs for custodian review service meetings and post review management of ownership for subsequent actions and improvement initiatives.
• Assist manager to produce and maintain custodian governance profiles and service matrices.
• Preparation and maintenance of the operational service level agreements including validation of custody fees, interest rates and MIS packs.
• Coordinate the internal completion of control documents to facilitate Fund set up/ Custody and Bank account opening process across Investment Operations.
• Assist the manager to analyse custodian service offering and MIS packs to perform benchmarking and to identify improvements and best practice across Inv Ops.
• Act as a support function to Investment Administration in the launch of new funds by acting as coordinator of the client control document which evidences operational readiness. CCDs to be monitored and signed off by all areas prior to fund launch date. Where possible enhancements to the existing process should be identified and implemented.
• Coordinate Custody/bank/GMM account maintenance in a timely and accurate manner, communicating clearly with internal and external parties at all times. In addition, bi-annual reconciliation of the bank account database and MM deposit accounts and maintenance of the internal signatory panels.
• Coordinate market opening, fund of fund account onboarding and the arrangement of restricted currency standing instructions.
• Undertake internal query resolution via the DIRECT system, provide regular Management Information to Business Areas, collate Departmental KPI/Risk Information for distribution.
• The Quality Control Team record, fully investigate & correctly attribute all investment losses endured by M&G to the negligent party including both internal and external parties. Make claims to external parties when contractual failures occur & settlement dates are missed. Investigate Claims received from the market.
• Ensure all reporting requirements including Investment Admin MIS, Group Operations Board Report and Investment Losses reporting are delivered within agreed timescales
• Staff should know how to identify client money or the risk of it arising, and how to handle it (e.g. ensuring investment losses / client compensations are received by the fund / client within 24 hours of any amounts and calculations being authorised)
What we are looking for:
You will have excellent communication, organisational and problem solving skills. A flexible nature, is essential for this position as well as high attention to detail and a delivery focused mindset. You will also have experience in both change management and relationship development.
M&G is committed to a diverse and inclusive workplace. Our role as an employer is very simple – to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
We welcome applications from individuals who have taken an extended career break, and we are willing to consider flexible working arrangements for all of our roles.
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