Reconciliation Analyst

Core Details and Responsibilities

The Analyst - Fund Administration (Reconciliations - Hedge Daily) job plays a critical role in the daily operations related to fund reconciliation and portfolio management for a diverse range of client funds, ensuring accuracy and compliance in all deliverables. This position is designed for an experienced reconciliation professional who will be responsible for the accurate reconciliation of cash, positions, market value, and corporate actions, and for ensuring that these data points are correctly managed within the portfolio systems. The role also includes responsibilities around data management, reporting, and valuation quality assurance, supporting both internal stakeholders and clients on a day-to-day basis. This position requires a strong analytical mindset, excellent communication skills, and the ability to work collaboratively across teams to enhance operational efficiency and client service excellence.

This role is based in our office in Observatory, Cape Town, South Africa and reports to the Associate Director.

From a high-level perspective, the core responsibilities that form your role are broken down into the following 6 categories:

1. Reconciliation Management
2. Data Management and Process Improvement
3. Communication and Client Interaction
4. Valuation Quality Assurance
5. System Expertise & Development
6. Cross-Functional Collaboration
7. Risk and Compliance Responsibilities

Your Daily Tasks

The following are the tasks linked to the Core Responsibilities that will be expected as part of this role:

1. Reconciliation Management

Includes (but not limited to) the following tasks:

1. Wholesale & Fund-Specific Reconciliations: Perform daily, weekly and monthly reconciliations for client funds, ensuring that all cash, positions, interest, dividends, and market events (such as corporate actions) are accurately reconciled across multiple sources (e.g., brokers, managers, custodians).
2. Position Reconciliations: Perform daily position reconciliations for clients, ensuring that all discrepancies are flagged, investigated, and resolved promptly.
3. Market Value Reconciliations: Oversee the reconciliation of market values for securities in client portfolios, ensuring that valuations are accurate and consistent across all data sources.
4. Cash Reconciliations: Perform daily, weekly and monthly cash reconciliations for clients, ensuring that all discrepancies are flagged, investigated, and resolved promptly.
5. Ad hoc duties that may be assigned from time to time.

2. Data Management and Process Improvement

Includes (but are not limited to) the following tasks:

1. Trade, Price, Security & Corporate Action Data: Manage the data entry, monitoring, and exception clearing processes for trades, prices, securities, and corporate actions. Ensure that the correct data is entered into portfolio management systems and discrepancies are promptly addressed
2. Raise the relevant inconsistencies relating to the static data for portfolio systems when performing reconciliations for all data points such as security identifiers, asset classes, and other relevant information to be updated accurately and consistently.
3. System-Based Query Resolution: Proactively identify and resolve complex system-related issues affecting the accuracy of position and P&L valuations. Collaborate with IT and other operational teams to resolve data discrepancies and optimize processes.

3. Communication and Client Interaction:

Includes (but are not limited to) the following tasks:

1. Client Query Management: Respond to queries from clients and internal stakeholders, particularly from the North and South American offices. Address complex reconciliation-related inquiries and provide clear and timely responses.
2. Reporting to Clients: Manage and deliver regular reconciliation reports to clients, ensuring they are comprehensive and error-free. These may include daily, weekly, or monthly reports depending on client requirements.
3. NAV & Reporting Support: Support NAV leaders and managers in resolving complex queries related to fund valuations, reconciliations, and data discrepancies

4. Valuation Quality Assurance:

Includes (but are not limited to) the following tasks:

1. Quality Reviews: Conduct periodic reviews of valuation processes and reconciliation outputs to ensure high-quality, accurate, and timely valuations are produced. Perform quality assurance checks on all daily, weekly and monthly reconciliations.
2. Operational Excellence: Continuously monitor and review reconciliation and data management processes to ensure adherence to operational best practices, industry standards, and regulatory requirements.

5. System Expertise & Development

Includes (but are not limited to) the following tasks:

1. Advent Geneva Expertise: Develop and maintain expertise in Advent Geneva Portfolio and General Ledger modules. Ensure that the system is being utilized effectively for the completion of reconciliation tasks and the production of fund valuations.
2. System Improvements & Upgrades: Actively contribute to the improvement and optimization of reconciliation and portfolio management systems. Collaborate with IT and other departments on system upgrades and troubleshooting.
3. Continuous Learning: Keep up to date with new developments in portfolio management and reconciliation systems. Participate in training sessions and workshops to enhance your technical skills.

6. Cross-Functional Collaboration

Includes (but are not limited to) the following tasks:

1. Process Improvement: Identify opportunities for process optimization within the reconciliation team and broader fund administration function. Share insights and suggest improvements to increase operational efficiency and enhance client service.
2. Collaboration with Other Teams: Work closely with operations staff, project managers, implementation teams, and other business units to ensure the successful implementation of new products and solutions that support the reconciliation and portfolio management processes.

7. Risk and Compliance Responsibilities:

Includes (but not limited to) the following tasks:

1. Compliance Tasks: Perform routine compliance checks and adhere to company risk and compliance processes and policies.
2. Control Testing: Participate in testing of operational controls and report findings.
3. Compliance Culture - Working in tandem with Manager and Risk and Governance colleagues to instill a culture that is centered around good governance and compliance
4. Support Investigations: Assist in compliance investigations and gather necessary information along with assisting in preparation and gathering of documentation for SOC audits.
5. Ensure reconciliation processes adhere to SOC (SOC 1/ISAE 3402) requirements by meticulously documenting reconciliation procedures, controls, audit trails and raise any inconsistencies.
6. Support governance frameworks by adhering to established reconciliation policies, controls, and escalation protocols, ensuring data accuracy and integrity in line with regulatory and organizational standards. Identify potential reconciliation-related risks and implement controls to mitigate them.

Additional Strategic Expectations:

• Share insights to enable development of new processes and procedures that will create business efficiency and support delivery of client excellence in service.
• Maintain awareness of industry, regulatory, jurisdictional, and other trends that could affect the business.
• Collaborate cross-functionally with operations staff, business users, project, and implementation managers to achieve desired and elegant solutions.

Required Skills & Experience:

Are you getting excited? We are Before we get too carried away, there are a few requirements you'll need to check off before you can apply for the position:

• A Diploma in Accounting, Business Administration, Economics or Finance or similar field, with 1-2 years of experience in fund administration
  with a focus on reconciliations
  , preferably within the hedge fund industry would be advantageous
• OR
  newly qualified graduate with bachelor's degree in accounting, Business Administration, Economics or Finance or similar field
• Excellent communication skills (high standard of speaking and writing) in English (Portuguese will be advantageous)
• Excellent proficiency with reconciliation software fund accounting systems would be advantageous
• Advanced Excel skills (familiarity with SQL or other data analysis tools with be advantageous)
• Knowledge of BI Tools (familiarity MS Power Apps will be advantageous)
• Excellent Problem-Solving & Analytical Skills with a strong ability to analyze issues, identify root causes, and implement effective solutions, particularly in relation to complex financial data and reconciliations.
• Ability to work independently, in a high performing team is pivotal
• Ability to work under pressure in a dynamic environment is required