Job Description

About the Opportunity Job Type: Permanent

Application Deadline: 22 October 2023



Title: Assistant Manager - Bank Reconciliations

Department: RC&O

Location: Gurgaon

Reports To: Manager/SM - Bank Reconciliations

Grade: 4

We\xe2\x80\x99re proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together - and supporting each other - all over the world. So, join our team and feel like you\xe2\x80\x99re part of something bigger.

Department Description

Banking, Reconciliations & Control (RC&O) is responsible for the receipt and payment of monies to / from investors / intermediaries and the reconciliation of cash and stock positions for Fidelity\xe2\x80\x99s European based funds and FundsNetwork fund supermarket business. In addition, RC&O includes the processing of fund distributions, tax & interest accrual processing and various other control related activities for Customer Services.

Bank Reconciliations as a team is responsible for the daily reconciliation of the Client Money and Settlement Bank Accounts within the regulatory timeframe. They are also responsible for the daily reconciliation of various client money and corporate ledgers. Reconciliation is performed on multiple systems i.e. GFAS, AutoRek, CFP and Sonata. A delay in the reconciliations may lead to regulatory breaches and may not reflect a true and fair view of the financial statements of the company. The team plays a key role in the delivery of month end and financial year end from a reconciliations perspective by working closely with Finance team. The team is also involved in liaising with multiple teams across various locations for resolution of reconciliation discrepancies.

Purpose of your role

The successful candidate, as a member of the RC&O team will be responsible for supporting the growth of the RC&O activities. This role is responsible for ensuring that appropriate client money regulations and controls on client money are adhered to and best practice standards are maintained across all activities within the sphere of control, particularly in the protection of customer assets and client monies. Responsibilities include ensuring processes and systems are laid down and implemented. The candidate will provide focus and leadership to the teams in attaining their objectives. He / She will ensure smooth functioning of the teams in scope and prepare them for present and future initiatives.

The role of an Assistant Manager in Bank Reconciliations will require the candidate to acquire an in-depth knowledge of the process / procedures / system, will contribute to the business as usual working and processing activities, as the subject matter expert for bank reconciliations. The candidate will be responsible to manage process related to change , handle all escalations and issues pertaining to various reconciliation breaks across various legal entities supported by FIL. The candidate will also be expected to work closely with the Technical Support and Client Money Operational Support Functions to handle production issues, high severity incidents and also assist in the delivery of tactical and strategic initiatives for the team.

This role may require building an increasing awareness of FCA\xe2\x80\x99s client money rules on protection of client monies and assets through workshops, driving continuous improvement within the team by leveraging the latest technical tools like Intelligent Automation, Robotics etc. The candidate will also focus on managing BCP activities across various teams, conducting regular BCP tests and keep the teams upskilled on the core processing tasks. The core responsibilities will also revolve around managing a team of associates, senior associates and regularly coach them for their respective career development.

Key Responsibilities

Service Delivery and Quality

• Sound understanding of Fidelity Products & Services including UK / Europe business area\xe2\x80\x99s for which he/she is responsible for providing services to client.
• Awareness of current FCA CASS including awareness of TCF and seven customer principles.
• Having a sound understanding of the systems used in reconciliations & settlements (Autorek, CFP, Sonata, etc)
• Manages and prioritises daily activities and processes in order to maintain SLAs.
• Strong knowledge of all money flows across various legal entities.
• Assist the management in deriving trends by publishing relevant MI\xe2\x80\x99s which can communicate to the management about the overall health of the process.
• Approach issues with a customer centric perspective in order to provide best in class customer experience
• Continuously strives to improve processes by driving forward improvement ideas related to processes, environment, services, procedures by driving problem solving hours.
• Takes responsibility for handling and escalating issues / concerns identified
• Develops and maintains thorough knowledge of all systems, processes, procedures, and regulatory requirements relating to the department.
• Analyses issues and breaks them down into their component parts and can bring out logical issues and creative solutions to complex issues.
• Generate Management information highlighting the health of the process and various trends.
• Promotes a climate that fosters learning, new ideas, unconventional approaches, and calculated risk taking.
• Lead and support business and enterprise level projects

Team Development

• Acts as a role model to the team \xe2\x80\x93 leads by example.
• Coaches and develops individuals through each stage of their role; works with the team member to create a development plan, follows up on the plan by conducting regular one on ones with the team, completes appraisal reviews.
• Provides guidance to team members on career development as part of the one on one discussion.
• Communicates business goals and objectives to the team, sets priorities for the team, delegate right tasks to the right people yet owning the complete responsibility for results.
• Manages under performance by developing a Performance Improvement Plan in consultation with the Manager and HR.

Communication

• Uses a variety of channels to ensure information is disseminated to team in most effective manner; follows up with team to ensure information is understood.
• Build and execute effective escalation matrix in order to promptly resolve high impact issues.
• Builds and maintains relationships and communication channels with internal customers.
• Provides regular updates to Management on trends and issues, team performance, escalated issues/ problems, project work.
• Keeps peers in other departments updated on team activities, customer/ risk issues, performance issues and projects.
• Creates a positive impression of self. Influences, convinces, or impresses others in a way that results in acceptance or agreement.

Experience and Qualifications Required

• B.Com or an equivalent bachelor\xe2\x80\x99s degree from a recognised university. 7-10 year previous experience in finance or related areas is desirable. Multi-departmental exposure will be an added advantage.
• Minimum 5 years of relevant team management experience, preferably in Financial Services.
• Ability to remain highly motivated, focused on the key measurements and adaptable. Self-starter and customer focused. Able to analyse problems and follow through logically to a conclusion / resolution.
• Approachable, assertive, and credible.
• Experience and a proven track record of successfully and effectively managing large teams. Able to re-prioritise and organise effectively.
• Can act as a coach and provide people with constructive & developmental feedback.
• Initiates or champions change processes to improve organisational effectiveness.
• Promotes a climate that fosters learning, new ideas, unconventional approaches, and risk taking. Demonstrates a high level of commitment to improving customer service / processes internally.
• Adaptable to changing business needs \xe2\x80\x93 A flexible approach with an ability to work with other workgroups in the organisation
• Is able to effectively network with key individuals in the organisation.
• Understands the importance of building networks throughout organisation to share intelligence about events, people and issues. Aware of verbal and non-verbal behaviour to identify expectations and concerns.
• Stays current with the financial services industry and market trends.
• Analytical skills with an attention to detail.
• Able to prioritise and monitor workloads to ensure deadlines are met.
• Excellent communication and presentation skills with attention to details.
• Demonstrates a high level of commitment to improving customer service / processes internally.
• Good computer skills with knowledge of MS Word, Excel, and Power Point. Sound knowledge of AS 400, Autorek & Sonata system is desirable.
• Energetic & enthusiastic and a supportive and proactive team player.
• Provide regular management updates on progress and issues, team activities, customer, and risk issues.
• A good understanding of the FCA Client Money regulations will be an added advantage.
• Works towards T&C certifications

Feel rewarded

For starters, we\xe2\x80\x99ll offer you a comprehensive benefits package. We\xe2\x80\x99ll value your wellbeing and support your development. And we\xe2\x80\x99ll be as flexible as we can about where and when you work \xe2\x80\x93 finding a balance that works for all of us. It\xe2\x80\x99s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team. For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.

For more about our work, our approach to dynamic working and how you could build your future here, visit careers.fidelityinternational.com.

Fidelity International