Middle Office Specialist

2 weeks ago

Centurion, Gauteng, South Africa Group Finance Full time

Introduction


Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organizations care for and reward their employees and members.

Through our own network of advisers or via independent brokers and utilizing new platforms Momentum Metropolitan provides practical financial solutions for people, communities and businesses.


Role Purpose


The team is responsible for all middle office, financial reporting, valuation oversight as well as all Product control functions for trades and instruments booked and managed on the Murex trading platform by the portfolio managers of the Liability Driven Investments trading desk, which specializes in fixed income and derivative trading.


Requirements:

  • CA with 5+ year post qualification Experience, (studying towards CFA advantageous)
  • 5+ years' experience in financial reporting within an investment banking and/or insurance environment.
  • Industry related experience, with steadfast resolve and personal integrity
  • Ability to diagnose problems quickly and have foresight into potential issues
  • Exposure to Innovation, Digitization and Problem solving in a related environment
  • Understanding of SQL (SQL Server 2014, SSIS), Microsoft Power Apps (Power Flow, Power BI, Power Query) and Visual Basic advantageous
  • Sound knowledge and understanding of Financial reporting including External Audit facilitation and clearance of a fixed income trading desk.
  • Sound knowledge and understanding of Financial instruments valuation and reporting including derivatives and fixed income instruments.
Good working understanding and knowledge of the Murex Trading platform advantageous.

Duties & Responsibilities

General

  • Execution of and maintenance of key Middle office outputs such as Statutory Reporting, Management Reporting and Trade Desk query resolution.
  • Leverage indepth BSM process understanding to optimise process outputs and manage downstream implications, process interdependencies and process bottlenecks.
  • Keeping abreast of current market developments and industry best practices to ensure that MMI reporting meets industry reporting requirements
  • Support Middle Office automating initiatives by arranging technical briefings within the team and by documenting current processes and assisting with testing.
  • Drive a culture that guides and incorporates best practice, fostering an environment of continuous learning, improvement, and cohesiveness
  • To facilitate a wellcontrolled operating environment to manage operational risk and improve process efficiencies
  • Provide expertise and concise recommendations to stakeholders

Financial Accounting & Reporting

  • Perform day to day investment accounting for the fixed income and derivative investment balance sheet, including but not limited to general ledger preparation, tax calculations, reconciling and confirming intercompany loan balances. and performance of monthend reconciliations.
  • Analyse root causes of accounting discrepancies and provide corrective actions.
  • Perform portfolio analysis and reporting for critical decision making process.
  • Generate routine and adhoc reports for front office and other stakeholders.
  • Respond to accounting and reporting related inquiries in a timely fashion.
  • Prepare quarterly portfolio accounts (Product level management accounts used for product profitability analysis and as inputs into the actuarial valuation process).
  • Prepare annual financial statement disclosures and reporting packs.
  • Responsible for the facilitation and clearance of the annual statutory external audits.
  • Responsible for preparation of statutory stress test reporting of the balance sheet.
  • Responsible for tax related general ledger and downstream reporting to Group tax and other internal stakeholders

Profit and Loss reporting, Risk Attribution reporting

  • Responsible for the daily reporting and analysis of Profit and Loss (P/L) based on trading activities.
This requires extensive liaison with the Trading desks, the Market Risk Management and the operations teams, as well as in depth understanding of fixed income and derivative financial instruments:

  • Prepare and deliver the daily P/L attribution to Front Office;
  • Performing reconciliations between the daily risk / P/L attribution and source inputs;
  • Reconcile the P/L attribution report to the ledger for both Assets and Liabilities;
  • Commentary and explanation of all attributable P/L movements, in relation to market data movements and/or cash flows.

Securities Valuations Oversight

  • Work in compliance with company policies and procedures.
  • Review reports relating to valuations

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