Fund Accountant – Accounting and Valuations
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Some careers have more impact than others.
If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be. HSBC is one of the largest banking and financial services organizations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping… people to fulfil their hopes and realize their ambitions.
As part of Markets & Securities Services, Securities Services provides administration services to some of the world’s largest asset managers and owners, banks, broker dealers and corporates. These services connect our clients and their investors to investment opportunities, making Securities Services an essential part of the infrastructure that supports international capital flows.
Fund Services is an integral part of Securities Services providing services to the Asset Managers like Accounting and Valuations of NAV, Statutory Reporting and Global tax services. This might include Trade Processing, Reconciliations, Maintaining Investors’ capital accounts, valuing and publishing NAV for Funds and preparing the Financial Statements.
We are currently seeking an ambitious individual to join this team in the role of Senior Fund Accountant (Private Asset Funds).
Senior Fund Accountant (Private Asset Funds)
The role is specific requirement for Private Asset Funds (Private Equities, Private Debt, Real-Estate and Infrastructure funds). The candidate is expected to work on following activities performed out of Kolkata:
Responsible to ensure quality NAV pack deliverables for several portfolios of Private Asset funds including year-end financial statements
The candidate is also required to process trades, reconcile funded/unfunded commitments, pricing of securities, reconciliation with brokers/capital account statements from underlying administrators, fixed & variable fee calculations and accruals and complete the NAV process. Understanding of trade life cycle of underlying private placements is pre-requisite for these activities.
Promote relentless focus on service quality across Fund portfolios, Demonstrate the level of commitment and the time management skills necessary to achieve deadlines and should be continuously strive to improve the valuation process and procedures.
Operate in accordance with departmental procedures, thereby ensuring compliance with PLA, FIM and group policies on compliance / standards.
Implement key changes in the process and deliver continuous process improvement.
Handling of queries from other departments & business partners.
Engage with the internal customer through participation in the service calls, prompt & accurate reporting of KPI/issues/ prompt response to ad –hoc queries.
Capture accurate and right data (ICATs, daily tracker etc) for purpose of MIS Role will be of individual contributor nature and will not have team reporting to the role.
The role will operate within the orbit of the NAV Shell of Funds services and will require technical excellence to achieve target deliverables.
The role will interface with all other MSS Departments and with HSBC global offices as appropriate. To maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
·There may be ideas/Initiatives/projects to reduce direct and indirect costs and to achieve sustainable savings
Customers / Stakeholders
· Individual will be responsible for supporting Fund Services – Accounting & Valuation and Stat Reporting covering Europe for single or multiple clients
· Primary responsibility of preparing NAV packs and performing checker activities as and when required.
· Making / Reviewing of Financial statements and Year-end Tax working papers as per requirement
· Raising the exceptions with appropriate teams to ensure the actions of the same before finalizing the pack.
· To develop and maintain mutually respectful & successful relationships with internal customers & business partners.
· Ensure all service deliveries are timely, accurate and in line with PLAs, agreed standards, client commitments and BP expectations
Leadership & Teamwork
· 100% technical role, responsible for core processing and reviewing activities
· Role will be of individual contributor nature and will not have team reporting to the role.
· To share process related best practices with the team.
· Initiatives to demonstrate the application of principles in the day to day work environment Participation and support provided to initiatives taken by other teams.
· Perform any additional responsibilities that may be required by the Supervisor in support of the on-going management and development of the division.
· Be involved in the project / support related activities as and when it arises.
· Undertake/conduct trainings/cross training for all staff including existing and new staffs.
· Being proactive in identifying root cause for process related challenges and share qualitative resolution.
· Be flexible to adopt in different working environment with counter parts across the globe.
· Demonstrate Group Values & principles
· Deputize the line manager in his / her absence and manage team / deliverables effectively.
Operational Effectiveness & Control
· Processing / Reviewing average 100-500 NAV packs on annual basis, 40-50 Financial statements or Multiple Tax reporting
· To maintain HSBC internal control standards including the timely implementation of audit points.
· Updating all daily MIS/trackers as required by the process.
· Complete all Mandatory trainings as and when required.
· Ensure timely follow up on the open & outstanding issues that hinder the valuation. Ensure, Escalation Matrix is followed as per agreed between Business Partners and MSS Kolkata.
· Undertake/participate in projects for improvement in delivery quality and/or timeliness.
· Identify and reduce manual processes for enhanced operational control. Support and implement technology up gradation
· Enhancements to Job-Aid Matrix, SOP, process notes, checklists, KPI and internal processes as and when required.
· Continually raising the risks that have been identified / observed in department processes and procedures.
· Support audit process and recommendations on a timely manner
What you will need to succeed in the role: (Minimum Qualification and Skills Required)
• Bachelor’s degree in accounting or other qualifications relevant to the accounting/finance industry.
• 2-5 years of relevant/accounting work experience.
• Excellent knowledge of Private Assets Investments, Financial instruments, Accounting and its Principles.
• Excellent knowledge of end to end product and process, multiple market and regulations.
• Proficiency in EXCEL essential.
• Ability to Speak and understand English and communicate effectively.
• Good interpersonal, team work skills, organized, Proactive with solutions and detail oriented.
• Ability to prioritize and work in pressured environment.
• Excellent Team Management skills with ability to handle allocation and day to day planning and strong team bonding.
What additional skills will be good to have? (List out good to have skills and certifications)
• CA/ ICWA/ CS / PGDBM/MBA in Finance or CFA (D) preferred
• End to end Fund Accounting / Financial Reporting Knowledge and regulations pertaining to the fund services industry will be added advantage
• Knowledge in custody, brokerage, depository, investment accounting, mutual funds and reconciliations in Fund Industry will be added advantage.
· Knowledge of Accounting Standards (US GAAP and IFRS)
• Must be aware of the operational risk scenarios associated with this role and act upon pertinent risk (if any).
• Working knowledge of Bloomberg / Reuters, other reconciliation and accounting applications used across industry
• Life cycle of NAV process
• Will be expected to maintain HSBC internal control standards, including the timely implementation of internal and external audit points, together with any issues raised by external regulators
You’ll achieve more at HSBC
HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”
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Issued By HSBC Electronic Data Processing (India) Private LTD