Team Leader - Global Cash & Asset Reconciliation Services (Grade 4)

Title:                                                                Team Lead

Department:                                                   FSO Global Cash & Reconciliation Services (GCARS)            

Reports to:                                                     Manager

Location:                                                        Gurgaon

Job Type:Permanent

About Fidelity International

We’re 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 us at Fidelity to be part of “Global Cash & Reconciliation Services” under “Fund Servicing & Oversight (FSO) function and feel like you’re part of something bigger

Why would you choose to join Fund Servicing Oversight (FSO)

“The operational backbone of Fidelity International” – Servicing the needs of our customers, such as Trading and Portfolio Management, and maintaining close relationships with external Auditors and Custodians on a daily basis.  Always acting in the best interest of our investors, and, in so doing, create wealth for our investors and opportunities and rewards for our employees

“The Team” – Around 400 people strong spread across various teams in the UK, Luxembourg, Dublin, Hong Kong and Dalian. This combination means there is an exciting array of skills and nationalities across all levels, making everyday work interesting and rewarding.

“The Challenges” – Responsible for processing corporate actions, pricing securities, settling trades, publishing holdings and maintaining static data for all Fidelity International funds; alongside fund accounting and reconciliation of all pooled funds in the UK and Luxembourg. We process 180 corporate actions a month, as well as pricing 10,500 securities and settling 3,500 trades a day. In addition, the department calculates the Net Asset Values for funds worth in excess of $200 billion every day; all of this creates a fast paced and ever-changing environment.

 “The Spirit” – A busy, friendly and supportive working environment is the foundation of all success and growth. This is exactly what you will find within IS & FA.  Sound values are woven into the very fabric of our organisation, hence the long-term customer trust, success and stability of the company.

“The Opportunities” – We can offer plenty of opportunity and career growth within each of our departments. For example we introduced a concept called “iAcademy”, unique to FIL, where you work with colleagues across all departments within IS & FA in cross-functional training and knowledge transfer.

Department Description

Global Cash & Reconciliation Services (“GCARS”) is responsible for a range of activities that relate to management and control of reconciliation exceptions and includes a level of transaction processing. They also contribute to the cash provisioning for our data recipients to ensure correct investment decisions are made. The department is responsible for:

Management and control of exceptions arising from the cash, securities and unit reconciliations. The key responsibilities include management and oversight of unmatched cash and stock differences arising from the reconciliations of FIL’s accounting records to that of our Custodians and other FIL systems Production and analysis of various exception reports Provide supports to the regional Portfolio Services teams, our Fund FX traders and the Overdraft Analysis team with cash management matters and the Institutional Client Services teams by supplying custom reporting and supporting transitions. Review and correction of any overdrawn account balances and ensure coverage Provide support to the wider Fund Accounting by ensuring that all non STP cash statement activities are accurately reflected in the calculation of the daily Net Asset Value (NAV) of the individual funds. Liaison with external & internal parties to resolve exceptions Implementing enhancements, including automation of the processes Internal reporting of key management information on the above, alongside some reporting to certain external clients and weekly/monthly MIS Minimising and controlling risks

It is a fast-paced and deadline driven environment where teamwork, both locally and globally, is essential and encouraged.

Purpose of your role

The Operational Support team is responsible for overseeing the non-business-as-usual aspects of Fund Accounting and Global Cash & Reconciliation Services. These initiatives will vary from small enhancements to strategic projects.  There will also be a requirement to develop and support the provision of management information for the functions.  The job holder will be expected to assist in the provision of a high-quality service to the heads of Fund Accounting and Cash and Control, who will be the primary customers.  The holder of this position will report to the Operations Support Senior Manager and will be expected to participate in, or occasionally take responsibility for the following areas.

Your key accountabilities

Process Management

• Perform daily reconciliations using specialist software and assist in the supervision of other team members
• Oversee and participate in the identification, analysis and resolution of exceptions in a timely manner
• Support management in providing functional oversight over the day-to-day activities of the India and UK RS Operations teams, monitoring exceptions and liaising with teams in FSO, ISS, Fund FX and Client Services and external Custodians.
• To continue to build upon key relationships with Stakeholders, Custodians and legal counsels amongst others.
• Support in the management of the Custodian relationship on behalf of both RS offices. Compile relevant stats in order to conduct face to face meetings with Custodians in order to ensure accurate scoring is maintained and SLA’s are adhered to.
• Review of the daily or periodic control reports, liaising with India and UK teams as appropriate.
• To assist in the development of team members knowledge skills and provide input to managers for improvements
• Support India/UK team with escalation of any issues or exceptions that cannot be resolved in a timely manner.
• Collaborate with various FSO / ISS teams to manage queues and exceptions
• Support Projects and Improvement ideas
• Identify and escalate areas of risk and work to reduce such errors
• Assist in MIS preparation and suggest ideas

Business Change Management (BCM)

• Close liaison with, and coordination of, the functional BCM(s) within GCARS.
• Holistic view over all aspects of change (of all sizes) that affect GCARS, including …
• idea generation/collation
• requirements gathering
• creation of technical specifications / scoping documents
• prioritisation
• progress tracking and status reporting
• benefits tracking/realisation

Risk and Control Oversight, Continuous Improvement

• Oversight of, and close liaison with, the functional Risk Champion(s) within C&C.
• Regularly review procedures to ensure that operating risks are fully understood and effectively managed
• Ensure strong documentation is in place covering all aspects of service delivery
• Organise and co-ordinate internal training
• Regularly review operational procedures to identify areas of process improvement

About You - Your skills and experience

The candidate should be a good communicator with a can do attitude.  They have a flexible approach; they are self-motivated and a strong team player and willing to stretch whenever required

Essential skills

• 8+ years of experience with relevant industry knowledge
• Good analytical skills, accurate and numerate with excellent attention to detail
• Self- starter / self- motivating
• Excellent verbal and written communication skills

• Flexible attitude and approach to duties

• Previous experience within an Investment Management environment.
• A clear understanding of Reconciliation systems and processes
• Strong organisational and interpersonal skills, able to balance multiple priorities and resolve conflicts
• Management / supervisory experience in dealing with a large and diverse team
• Ability to work under pressure & to tight deadlines in a time critical environment
• Good working knowledge of Office applications, particularly Excel and PowerPoint

Key Competencies for the role

• Communicate with impact: Effectiveness & Clarity
• Delivers results: Takes ownership for delivery, Accuracy
• Problem Analysis
• Stakeholder/Customer Management
• Initiating and adapting to change: Process improvements
• Strong team player

Feel rewarded

For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s 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.