Job Description

Job description

Business: Securities Services, GBM Service Centre, Kolkata \xe2\x80\x93 India

Open positions:1

Role Title: Senior Fund Accountant - Valuation & Reporting Asia

Global Career Band: 7

Location (Country / City ): Kolkata - India

Recruiter Name : Archana Sharma

Why join us?

• Valuation and Reporting team is an integral part of the Funds services business under Securities Services. The department is responsible for production and validation of Net Asset Value and preparation of Financial Statements comprising of Balance Sheet, Profit and Loss Account, Cash Flow Statement, Notes on Accounts and other Annexures to Annual or Interim Reports like Statement of Investments, Statement of Changes in Capital etc. for different Alternate / Traditional set of Funds such as hedge funds, mutual funds, fund of funds, ETF, SWF etc. administered by Securities Services across multiple regions and locations throughout Europe and Asia Pacific.
• Fund administration, valuation and pricing service is delivered through comprehensive technology infrastructure utilizing Securities Service\xe2\x80\x99s global operating model.

Business specifications for this role outlined below:

• Product Range / functions would include Valuations & Statutory Reporting.
• Involvement in processing and technical aspects of the business.
• Responsible functionally across multiple jurisdictions (where applicable) serviced out of Kolkata City Office.
• Increasing complexity. Turnover 20%, 3- 6-month lead time to achieve threshold competency for new hires.

The Opportunity:

• Ensure highest quality service to the business area ensuring that risks are minimized and profit is maximized through effective management of costs/resources. Ensure that process and procedures are continually reviewed and improved and the changes are communicated and implemented effectively. The job also entails checking on internal control and measures undertaken and regularly reviews them in order to maintain quality and productivity at the optimum level.
• Individual will be responsible for supporting Traditional/ Alternate Fund Services - Accounting & Valuation & Statutory
• Reporting \xe2\x80\x93for single or multiple clients & locations.

What you\xe2\x80\x99ll do:

Impact on the Business/ Function

• Engage in review of NAV and Financial statements to ensure highest quality of service to business area and stakeholders thereby maintaining green KPI across clients/process.
• Ensure that all operational functions within the scope of NAV production and Statutory Reporting are performed as per laid down procedures.
• Involve in providing ideas/Initiatives/projects to remove manual processes and reduce direct and indirect costs so as to achieve sustainable savings.
• Support implementation and roll out of new products/ activities within NAV & Financial Reporting.

Customers / Stakeholders

• Primary responsibility of preparing & reviewing NAV packs and financial statements, in accordance with local legal requirements and relevant accounting standards for the respective country, i.e. IFRS, UK SORP & US GAAP or Local GAAPs as applicable and within strict timelines.
• Knowledge of Bloomberg, Reuters and relevant data feeds.
• Understanding of different fund structures and their consequent impact on preparation of financial statements.
• Supporting the audit / review process as and when required. Also, support on other ancillary activities to the preparation of FS and/or audit process.
• Raising the exceptions with appropriate teams to ensure the same is actioned before finalizing the pack.
• To develop and maintain mutually respectful & successful relationships with internal customers & business partners.
• Ensure all service deliveries are timely, accurate and in line with PLAs, agreed standards, client commitments and BP expectations.

Leadership & Teamwork

• 100% technical role, responsible for core processing activities and there is no team reporting to this role.
• Responsible for increasing the team\xe2\x80\x99s productivity and efficiency through various process improvement initiatives and cross training.
• Train new joiners to develop their skill & knowledge levels, foster development of co-workers, participate in development of cohesive teams.
• Perform any additional responsibilities that may be required by the manager in support of specific projects, on-going management and development of the process.
• Deputize the line manager in his / her absence and manage team / deliverables effectively.

Risk Management & Implementation of Control

• To be aware of the Operational Risk scenario associated with the role, highlight/escalate operational risk scenarios and to ensure adherence to internal controls by achieving adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• Regularly review operational procedures are up to date and fit for purpose.
• Driving awareness within team of any new policy, procedures or code that needs adherence.
• Required to adhere to process and FIM guidelines to ensure NIL impact to the business. Any exceptions, failures, inaccuracies or delays could potentially result in financial loss, regulatory impact, reputational damage, audit findings/FIM breach and increased operational risk.

Requirements

What you will need to succeed in the role:

• Bachelor\xe2\x80\x99s degree in Commerce or qualifications to accounting/finance industry or relevant experience.
• Strong Accounting Concepts with clear understanding of financial statements.
• Sound knowledge of various types of financial instruments, Funds Administration and accounting services and understanding of valuation cycle and corporate actions
• Excellent knowledge in fund administration with clear understanding of the E2E Fund Accounting Model.
• Basic knowledge in custody, brokerage, depository, investment accounting, mutual funds and reconciliations.
• Ability to speak and understand English
• 3-5 years of relevant Funds administration and reporting experience.
• Should be a team player and promote strong teamwork and bonding.
• Efficient Time Management and ability to multi task work and priorities to meet defined deadlines
• Proactive in implementing and driving solutions.
• Ability to build excellent rapport and working relationship with other departments and jurisdiction thus ensuring smooth operations.
• Should have demonstrated behavior in line with HSBC values throughout
• Strong working knowledge on MS Office
• Will be expected to maintain HSBC internal control standards, including the timely implementation of internal and external audit points, together with any issues raised by external regulators.
• Must be aware of the operational risk scenarios associated with this role and act upon pertinent risk (if any).

What additional skills will be good to have?

• Additional qualifications related to financial industry will be given preference
• Knowledge of Derivative Instruments
• Earlier experience in custody / brokerage / funds services / depository industry.
• Detailed understanding of end to end product and process, multiple market and regulations pertaining to the fund services industry.
• Working knowledge of Bloomberg / Reuters, other reconciliation and accounting applications used across industry
• Life cycle of NAV process
• Knowledge about IFRS, US GAAP

You\xe2\x80\x99ll achieve more at HSBC

HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.\xe2\x80\x9d

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