About the Opportunity Job Type: Permanent
Application Deadline: 15 December 2023
Title: Associate - Bank Reconciliations
Department: Recs, CASS & Oversight
Location: Gurgaon
Reports To: Assistant Manager
Level : 1
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 (BRC) 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, BRC includes the processing of fund distributions, tax & interest accrual processing and various other control related activities for Customer Services.
The successful candidate, as a member of the BRC team will be responsible for supporting the growth of the BRC activities based in the India Service Centre. This role is responsible for ensuring that appropriate client money regulations and controls on customer assets are adhered to and best practice standards are maintained across all activities, particularly in the protection of customer assets and client monies.
Purpose of your role
The Bank reconciliations department is a part of the Banking, Reconciliations & Controls (BRC) group. The department is responsible for daily reconciliations of client money & settlement bank accounts. They are also responsible for daily reconciliation of client money as well as various corporate ledgers. Reconciliation activities are performed on client money strategic system \xe2\x80\x93 Autorek, GFAS and spreadsheet. A delay in the reconciliations may lead to regulatory incidents 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 ends from a reconciliation\xe2\x80\x99s perspective. The team is also involved in liaising with multiple teams across various locations for resolution of reconciliation discrepancies.
Key Responsibilities
Bank Reconciliations 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 the client money and corporate ledgers. 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 ends from a reconciliation\xe2\x80\x99s perspective. The role of an associate will also include ensuring integrity between various systems on which client data/postings are generated & stored i.e. Autorek, GFAS, Sonata & CFP.
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