Head of UK Funds Accounting and Financial Reporting (Vice President) - London
The role is challenging and requires strong financial accounting skills/knowledge with excellent communication, planning, and organization to enable the team to deliver a consistent first-class client service within a demanding environment. The candidate must be able to manage a small Financial Reporting team based in London and interact with the wider team in Mumbai. The individual has ultimate responsibility for overseeing and providing full financial accounting and reporting support (including board reporting and statutory report and accounts) for the Investment Trusts and the Open-ended UK funds which are managed by JPMorgan Asset Management.
The principal objective is responsibility for overseeing the accounting deliverables including accurate and timely production of the interim/annual financial statements but can also involve other aspects of UK Funds reporting including writing technical advisory board papers. This requires a hands-on approach to financial statement preparation/reviews, knowledge of relevant accounting standards, SORPs, industry best practices and ultimately provide information to the boards, engaging in technical discussions to enable them to make decisions
The role requires includes excellent communication, presentation skills and interaction with clients, senior stakeholder, outsourced vendors, and internal operational teams.
Areas of Responsibility include, but not limited to:
- Management of the team, coaching and focus on development
- Detailed review and oversight of external vendor production of investment trust and ICVC year-end and half-year financial statements
- Oversee that the financial statements comply with all relevant accounting standards (including UK GAAP and IFRS where applicable), tax, compliance, regulatory and other disclosure requirements
- Attend year-end and half-year Audit Committee/Board meetings, presenting the financial statements and answering queries on the financials
- Actively review and update procedures whilst consistently challenging to ensure maximum efficiency
- Pro-actively suggest enhancements to the model and look to gain maximum efficiency from key vendors
- Coordinate year-end audit process with vendors financial reporting team, audit team and external auditors. Responding to auditor queries promptly and accurately to ensure successful completion of audit within the agreed timetable.
- Interact with various internal teams within the investment trust and open-ended funds department (Company secretarial, Risk and Operations, Compliance and other senior client facing teams) to ensure a first-class service is delivered and maintained
- Review expense analyses, half-year and year-end accruals and summaries for administrators to book-keep this data and for disclosure in the financial statements
- Review performance fee calculations (where necessary) in line with Investment Management Agreements
- Review/prepare regular revenue estimates for the investment trusts, including the analysis of the impact of any change in policy or asset allocation in line with current procedures and process.
- Review the calculation and processing of share conversions
- Review the monthly fair value calculations for debt held by the investment trusts and monthly management fee calculations for accuracy
- Review VAT returns in preparation for HMRC filing
- Review directors’ remuneration calculations
- Review provisions such as Indian capital gains tax
- Assist in any ad-hoc or project-related tasks as necessary.
- Review of SLAs and KPIs as appropriate
- Understand business strategy and ensure it is relayed back to our vendors
Candidate skills, experience and knowledge
- Qualified accountant with consolidated post-qualification experience required.
- Previous audit and/or financial reporting experience highly advantageous.
- Strong experience in financial statement preparation and review and coordinating with fund administrators.
- Good working knowledge of accountancy as it relates to investment trust and open-ended fund accounting
- People management experience
- Experience of fund and instrument valuation across diverse asset classes
- Knowledge of OEICs and Investment Trusts
- Technical and business knowledge of various UK Fund structures and activities from an investment, operational, regulatory, accounting and financial reporting perspective
- Knowledge and experience across multiple asset classes (e.g., Fixed Income, Fund of Funds, Alternatives and Equities) and complex instrument types (e.g., Derivatives and Structured Products)
- PC skills - ability to use spreadsheet packages, proficient and fast at learning and adapting to new technology and software such as Bloomberg. Intermediate to advanced user of Excel.
- Ownership is key for this role and a self-motivated strong team player with a keen sense of continuous improvement
- Able to proactively work under own initiative, prioritize, handle time pressure, and manage multiple accounting deliverables at the same time
- Numerate with excellent attention to detail and accuracy
- Well-organized, confident and have excellent planning skills with a pro-active ‘can-do’ attitude
- Ability to articulate and present financial statements and answer queries from senior management and/or Board members is essential
- Identification of strategic improvements in existing process and work practices to increase automation and remove duplication in processes
- Liaising with external printers for production and updates to draft and final financial statements at half-year and year ends
- Positive attitude to compliance, controls and risk mitigation
Please note that working hours may fluctuate and can involve extra hours at peak periods
JPMorgan offers an exceptional benefits program and a highly competitive compensation package
JPMorgan is an Equal Opportunity EmployerAbout Us
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as any mental health or physical disability needs.
About the Team
J.P. Morgan Asset & Wealth Management delivers industry-leading investment management and private banking solutions with client assets of $4.3 trillion. Asset Management provides individuals, advisors and institutions with strategies and expertise that span the full spectrum of asset classes through our global network of investment professionals. Wealth Management helps individuals, families and foundations take a more intentional approach to their wealth or finances to better define, focus and realize their goals.
For further information, and to apply, please visit our website via the “Apply” button below.