Manager - Offshore Fund Accounting

2 weeks ago

Cape Town, Western Cape, South Africa LRI Invest Full time
Recruitment for a Manager - Offshore Fund Accounting

Apex Group Ltd., established in Bermuda 2003, is a global financial services provider.

With 85 offices in 42 countries worldwide and 10,000 employees upon the close of announced acquisitions, Apex delivers and extensive range of services to asset managers, capital markets, private clients and family offices.

The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depository, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.

Apex Group includes FundRock, LRI and European Depository Bank. Fund administration is where our business started and the cornerstone of our single-source solution offering. Our current asset under administration is $3 trillion and continues to grow globally.


An opportunity has arisen for a Manager - Offshore Fund Accounting to join our Apex Cape Town office, based in Mowbray.

Summary of the position


To manage the teams and all functional deliverables under the Offshore Fund Accounting business unit, the role will be focused, but not limited to, the following supervisory responsibilities that include: resource and task planning, recruitment of appropriate experienced staff to effectively discharge functional activities, resolve operational queries, review fund accountants daily/weekly/monthly deliverables, manage various third party expectations, escalate operational issues, while ensuring operational processes are followed and quality standards adhered to.


Apex is looking for a self-motivated and thoughtful, experienced leader in the Offshore Fund Accounting space to lead, recruit, supervise, appraise, train and coach Offshore Fund Accounting teams to maximize this business unit operational efficiencies.

To achieve this, the individual will be required to assist with the design, implementation and maintenance of an operating model that continues to meet regulatory standards, obligations under fund prospectuses, client SLA terms, while adhering to quality standards.

Apex is seeking an individual with extensive industry experience and offshore fund accounting knowledge.

The position is a senior, full-time role which will report directly to the Senior Manager - Offshore Fund Accounting.

Outline of main duties and responsibilities

Fund Accounting:

  • Show thoughtful leadership in the practices and processes of accounting for offshore investment funds;
  • Demonstrate a deep understanding of fund valuations for offshore openended investment funds;
  • Motivate staff and identify training and development needs;
  • Ensure accurate calculation of fund valuations through oversight reviews of cash and scrip reconciliations, expense accruals and reporting;
  • Ensure inaccuracies in fund valuations and NAV errors are identified, administered internally and communicated to clients and appropriately remediated;
  • Perform valuation quality assurance reviews on a regular basis to ensure consistent quality of product output between teams;
  • Ensure fund valuations are administered in line with fund legal documentation, administrator policies and TCF principles

Operational Management:

  • Setting up and maintaining a production schedule that provides for all Offshore Fund Accounting teams fund valuation deliverables;
  • Plan the team member allocations to ensure all valuation activities and deliverables for Offshore Fund Accounting teams meet SLA timelines;
  • Manage the Offshore Fund Accounting daily output in accordance with daily/weekly/monthly valuations production schedule;
  • Monitor service delivery of Offshore Fund Accounting teams to SLAs and client expectations to ensure timely and accurate NAV calculations are delivered and client queries addressed;
  • Actively manage issues and risks to resolution for all escalated matters in Offshore Fund Accounting team in a timely and efficient manager, keeping the Senior Manager
  • Offshore Fund Accounting informed at all times;
  • Cocoordinate and review all processes, checklists and controls pertaining to Offshore Fund Accounting teams to ensure accuracy and completeness of processes and controls followed.
  • Review operational processes periodically to ensure a smooth operation, adherence to quality standards and to identify process gaps and documentation requiring updates;
  • Engage with senior specialists to identify, design and implement process efficiencies through automation of processes.
  • Coordinate performance management of each team member, that includes setting up KPIs that aligns with job descriptions, focus on staff development and provide performance feedback;
  • Participate and lead training to teams with the assistance of senior specialists (where needed) to allow knowledge share within the teams;
  • Meet with

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