Manager - Offshore Hedge Fund Accounting

1 month ago

Cape Town, Western Cape, South Africa Apex Group 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 the Foreshore .

Summary of the position

The successful candidate will be expected to manage a team of offshore fund accountants who will perform the accounting and administration for various investment fund types domiciled in Guernsey , the United Kingdom and Texas . The individual will be required to oversee the fund accountings teams daily tasks to ensure all deliverables are produced and dispatched on time in accordance with client service level agreements (SLA) and in line with Apex operational and risk quality standards.

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

The successful candidate will be responsible for the following main functional 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 open-ended 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;
  • Co-coordinate 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 other jurisdictions oversight managers monthly to discuss operational open items and client satisfaction feedback where operating model includes delegation of services to the South African office.
  • Provide mentorship and motivation to staff to drive a high-performance outputs from teams.


Relationship Management:
  • Review SLA to ensure terms of agreements are adhered to with external and internal clients;
  • Establish and maintain key relationships, particularly with internal counterparts in other functional units, across offices in the same and in other jurisdictions.
  • Establish and maintain strong relationships with external clients to ensure good client satisfaction levels are maintained.
  • Drive and coordinate high-performance from the teams and collaborate with other operational team managers to enable effective delivery and resolution of all matters.
  • Hold team leaders accountable for delivery and results.


Risk Management:
  • Ensuring that appropriate operational controls are in place to mitigate risk.
  • Log and review incidents to ensure appropriate corrective actions are recorded and implemented to mitigate risk from reoccurring.
  • Drive continuous improvement projects in your area with assistance from allocated senior specialists;
  • Assess opportunities for improved efficiencies and reduced overhead in existing processes, including new technologies and tools;
  • Assess implications of operational controls within the domain on the ISAE 3402.


Project management:
  • Manage delivery of all inputs required from offshore fund accounting team as part of client onboarding and implementation process to ensure a smooth go-live transition.
  • Manage allocation of appropriate resources to support client-implementation and go-live transition.
  • Implement checks and controls with assistance of senior specialist after operational take-on of new clients to mitigate risk.
  • Provide management assistance on business related projects that can include but are not limited to system migrations, client take-ons, process improvements as well as the integration of business processes between offices.


Skills and experience required

The successful candidate will require:
  • A relevant tertiary business qualification (minimum B.Com or equivalent);
  • At least 7 years experience in Asset Management portfolio administration and pricing;
  • Minimum of 3 years in a management role in Asset Management portfolio administration and pricing;
  • Strong all-round understanding and experience of fund accounting processes within back office administration;
  • Good knowledge of exchange traded and OTC derivatives as well as other asset classes e.g. Equities, Fixed Interest and FX;
  • Confident & enthusiastic, and have a structured approach to work;
  • Strong communication skills (written & verbal);
  • Ability to work in a pressurized environment on a regular basis;
  • A can-do attitude and ability to make decisions assertively.
  • Individual need to be self-motivated, conscientious and hard-working to meet tight deadlines and committed to deliver work of a high standard.
  • Essential that the candidate is reliable and flexible as far as working hours are concerned;
  • Knowledge and experience of Paxus is essential;
  • Knowledge of and experience with reporting standards which include IFRS will be beneficial; and
  • An advanced level of experience in using Excel is needed..


Reporting structure

The Manager: Offshore Fund Accounting will report to the Senior Manager Offshore Fund Accounting.

Remuneration level

Remuneration will be market related and commensurate with experience and seniority. In addition, the successful candidate will receive a competitive benefits package and be eligible to participate in the firm-wide discretionary bonus scheme.

  • Hedge Fund Accountant

    4 weeks ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Role summary We are seeking a Fund Accountant, reporting to a Manager within the Fund Accounting Division of Apex to prepare accurate portfolio valuations and financial statements. The Fund Accountant role involves preparations of accurate portfolio valuations on a timely basis. You will typically be responsible for the accounting of a number of portfolios....

  • Trainee Hedge Fund Accountant

    4 weeks ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Role summary We are seeking a Trainee Fund Accountant, reporting to a Manager within the Fund Accounting Division of Apex to prepare accurate portfolio valuations and financial statements. The Trainee Fund Accountant role involves preparations of accurate portfolio valuations on a timely basis. You will typically be responsible for the accounting of a...

  • Trainee Hedge Fund Accountant

    2 months ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Role summary We are seeking a Trainee Fund Accountant, reporting to a Manager within the Fund Accounting Division of Apex to prepare accurate portfolio valuations and financial statements. The Trainee Fund Accountant role involves preparations of accurate portfolio valuations on a timely basis. You will typically be responsible for the accounting of a...

  • Hedge Fund Accountant

    2 weeks ago

    Cape Town, Western Cape, South Africa Ca Financial Appointments Full time

    Fantastic opportunity to join a respected and talented alternative investments administration team as a Hedge Fund Accountant. Ideal candidate will have no less than 2 years' experience in a similar role. Great team, currently experiencing growth.Responsibilities:Daily reconciliations assisting with daily NAV processFull fund accounting of alternative...

  • Manager - Offshore Fund Accounting

    2 weeks ago

    Cape Town, Western Cape, South Africa LRI Invest Full time

    Recruitment for a Manager - Offshore Fund AccountingApex 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...

  • Manager - Offshore Fund accounting

    4 weeks ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Recruitment for a Manager - Offshore Fund AccountingApex 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...

  • Manager - Offshore Fund accounting

    1 month ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Recruitment for a Manager - Offshore Fund AccountingApex 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...

  • Head of Fund Accounting: Hedge Funds

    1 month ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Role summary As Head of Fund Accounting: Hedge Funds , you will report to the Regional Head of Operations Open Ended (Middle East and Africa) within the Hedge Division of Apex based at our Cape Town office and will be responsible for the development and management of the growing Fund Accounting te am . The incumbent is the primary accountable owner for...

  • Fund Accountant

    2 weeks ago

    Cape Town, Western Cape, South Africa Network Recruitment Full time

    Are you a meticulous and detail-oriented professional with a passion for numbers and finance? Do you excel in Excel, including proficiency in Macros and VBA? If so, we have the perfect opportunity for youPosition Overview:We are seeking a highly skilled Fund Accountant to join our thriving team. As a pivotal member of our accounting department, you will play...

  • Senior Fund Accountant

    4 weeks ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Senior Fund Accountant SA CIS Hedge Fund Accounting Job Advert Summary The primary responsibility of this position is to provide assurance on fund valuations and perform fund valuation. The Senior Fund Accountant will need to manage, administer and account for portfolios in the traditional funds area within Accounting Services. The individual will be...

  • Senior Fund Accountant

    2 months ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Senior Fund Accountant SA CIS Hedge Fund Accounting Job Advert Summary The primary responsibility of this position is to provide assurance on fund valuations and perform fund valuation. The Senior Fund Accountant will need to manage, administer and account for portfolios in the traditional funds area within Accounting Services. The individual will be...

  • Head: Fund Accounting Division

    2 weeks ago

    Cape Town, Western Cape, South Africa Yazoo Recruitment Specialists Full time

    Senior Fund Accountant with a related Degree and minimum 5 years' experience in the Asset Administration of local and offshore Portfolios, required for the asset running of the day to day administration of local and offshore portfolios, for an Asset Management Company based in Constantia, Cape Town.Minimum requirements: Tertiary Degree essential Minimum 5...

  • Senior Hedge Fund Accountant

    4 weeks ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Role summary: We are seeking a Senior Fund Accountant to have responsibility for the preparations of accurate portfolio valuations on a timely basis. The successful candidate will typically be responsible for the preparation/overseeing of a number of client portfolios (underlying accounting, financial statements preparation, regulatory requirements),...

  • Senior Hedge Fund Accountant

    2 months ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    Role summary: We are seeking a Senior Fund Accountant to have responsibility for the preparations of accurate portfolio valuations on a timely basis. The successful candidate will typically be responsible for the preparation/overseeing of a number of client portfolios (underlying accounting, financial statements preparation, regulatory requirements),...

  • Senior Fund Accountant

    1 week ago

    Cape Town, Western Cape, South Africa Apex Group Full time

    We are seeking a Senior Fund Accountant (SFA), German speaking is preferred in the Johannesburg Global Service Centre (GSC) . The SFA will support a growing team that provid es a full suite of fund accounting and financial reporting services to our clients. The role will include accounting and financial reporting, NAV reporting and fund administration...

  • Offshore Investment Administrator

    2 weeks ago

    Cape Town, Western Cape, South Africa Graduate Placements Full time

    Responsibilities: Import of daily exchange rates, and sharing of same with internal users Review, source and import offshore fund pricing Attend to integration upload of data, ensuring integrity of data, and all checks Attend to 3rd party investment houses statement requests Prepare and share deal confirmations Prepare balance of payment (BoP) forms for...

  • Fund Operations Manager

    2 weeks ago

    Cape Town, Western Cape, South Africa Rory Mackie & Associates Full time

    Overview:An exciting international opportunity has become available in Guernsey, Channel Islands. Our client, a well-established group which has $4.2 billion in assets under management, specializes in the creation of offshore asset management companies in Guernsey and fund structures across all offshore jurisdictions, is looking for a Fund Operations...

  • Fund Manager

    2 weeks ago

    Cape Town, Western Cape, South Africa Continuum Group Holdings Full time

    Job Summary:This position is part of the Operations Team responsible for managing Collective Investment Scheme portfolios. The primary duties include reviewing and executing investor instructions and reporting. Reports to the Team Leader.Key Responsibilities & Deliverables: Follow the onboarding process for new investors, including FICA document review and...

  • Offshore Cash Administrator

    2 weeks ago

    Cape Town, Western Cape, South Africa Sanlam Full time

    What will you do?Sanlam Private Wealth crafts customised investment portfolios for high-net-worth private clients, charitable institutions, trusts and corporate entities.With assets under management and administration of more than R151 billion, we offer a comprehensive and integrated suite of wealth management solutions.These include equity, retirement and...

  • Offshore Cash Administrator

    2 weeks ago

    Cape Town, Western Cape, South Africa Sanlam Full time

    What will you do? Sanlam Private Wealth crafts customised investment portfolios for high-net-worth private clients, charitable institutions, trusts and corporate entities. With assets under management and administration of more than R151 billion, we offer a comprehensive and integrated suite of wealth management solutions. These include equity,...