Fund Administration Consultant
The global expense & budget team performs oversight of expense ratios, budgets, prospectus disclosures, product analysis, and fund expenses. The team also reviews, prepares analysis and provides approval of certain fund invoices, including custody, fund accounting, fund administration. Role will work closely with Product on various expense analysis related to fund launches, liquidations and mergers. In addition, role will be responsible for implementing and documenting policies and procedures, with a focus on an exception based oversight and risk based controls. This will entail understanding the fund administrators' control environment and continuous developing and implementation of strategic oversight model. The role will also act as a mentor for other team members and other roles within the Fund Administration group. Scope: Responsible for regional / jurisdiction fund groups with exposure to global model.
- Responsible for review & approval of complex Funds' budgets, which may prepared by expense type or Fund range, prepared by administrator. Ensures product events are properly reflected in Fund budgets. Understands significant changes in current year accruals as well as prior year expense. Liaise with Financial Reporting and Oversight team on more complex expense categories and product related items impacting shareholder reports.
- Analyze changes in monthly expense ratios, expense caps and waivers. Review changes in monthly contractual fees. Communicate changes in contractual fees and waivers to administrator.
- Collaborate with Product on impact analysis for Fund initiatives such as launches, mergers and liquidations. Coordinate with other areas within Fund Administration and other departments within FT to determine various estimates.
- Lead strategic review of fund administrators' control environment, with continuous developing, documenting and implementation of risk based oversight model. Utilize digital tools to develop and implement exception-based reporting. Act as mentor and point of escalation to the other team members.
- Review and analyze expense disclosures for annual prospectus updates for '40 Act funds. Understands variances between financial statements and prospectus expense ratio. Work closely with Legal on footnotes regarding fees and expense table and coordinates with team
- Coordinate board reporting including analysis of Fund expenses and review of materials for annual 15c management contract renewals. Provide commentary and analysis to senior management for presentations to fund boards.
- Perform various ad-hoc expense analysis related to changes in vendor agreements, regulatory changes or other scenarios. Review, analyze and validate invoices including custody and fund accounting expense for more complex funds or fund ranges
THE IDEAL CANDIDATE:
- BA or BS degree in Accounting or Finance.
- 8-10 + years of experience.
- Experience in Asset Management industry desired.
- Strong analytical and problem-solving skills with ability to summarize and present results to Senior Management.
- Flexible approach and ability to multitask on various projects.
- Experience and/or exposure to digital technology tools such as Alteryx and experience implementing process changes.
- Expert in Microsoft Office, particularly Excel