Associate - Distributions

1 week ago

Bengaluru, Karnataka, India Fidelity International Full time
About the Opportunity

Job Type:
Permanent

Application Deadline: 30 June 2024

Job Description:

Title:
Associate - Distributions

Department:
BANKING, PAYMENTS and DISTRIBUTIONS

Location:
Bangalore

Level : 1

We're proud to have been helping our clients build better financial futures for over 50 years. How have we achieved this? By working together - and supporting each other - all over the world. So, join our team and feel like you're part of something bigger.

Department Description


Product Ops & Control (DISTRIBUTIONS) is responsible for the receipt and payment of monies to / from investors / intermediaries and the reconciliation of cash and stock positions for Fidelity's European based funds and Funds Network fund supermarket business.

In addition, DISTRIBUTIONS includes the processing of fund distributions, tax & interest accrual processing and various other control related activities for Business Operations.

Purpose of your role


Distributions is responsible for the daily processing of distribution payments & reinvestment deals, and other associated tasks in Offshore, Onshore, UKFNW and Investment Trusts across two systems, GFAS & Sonata.

The daily work is primarily determined by the calendar which details the main tasks to be done and the processes include client corrections and investigations regarding their individual payments.

Unit reconciliations are done with respect to the GFAS holdings and units at the Third Party Provider / Fund Accounting at a Fund level as well as between internal systems.

Work and volumes therefore vary daily, but the department is particularly busy during & following the month-end.

The job also entails ensuring adherence to compliance requirements with respect to money movements and customer assets in day to day operations.

Apart from the core function of processing dividends the function also involves reconciliations of ledgers such as the return payments ledger and also includes activities like keying and scanning.

Key Responsibilities

  • Sound understanding of Fidelity Products & Services including UK / Europe business area's for which he/she is responsible for providing services to client.
  • Awareness of current FCA CASS including awareness of TCF and seven customer principles.
  • To be able to perform timely dividend processing for onshore, offshore and FNW product groups.
  • To update and maintain the ledgers, including recoding reasons for outstanding items over a set period.
  • To create correcting journals / cashbook keyings for reconciliation purposes.
  • To investigate & follow up on outstanding items with other departments within DISTRIBUTIONS (Cashmatch, CBU, Controls & Settlements, etc) as well as other departments in UK, Luxembourg, Germany, Hong Kong, etc.
  • Money movements across Client and Settlement Bank Accounts to address any shortfalls/surpluses and avoid potential breaches.
  • To gain regulatory knowledge and ensure knowledge is regularly updated and maintained.
  • To suggest process improvements and drive them in collaboration with the supervisor and other team members.
  • To produce processing and / or error reports on a monthly basis.
Experience and Qualifications Required

  • B.Com or an equivalent bachelor's degree from a recognised university. Multidepartmental exposure will be an added advantage.
  • Strong analytical skills with attention to detail.
  • To be able to prioritise and organise effectively to ensure deadlines are met.
  • Demonstrates a high level of commitment to improving customer service / processes internally.
  • Excellent communication skills.
  • Good computer skills with knowledge of MS Word, Excel and Power Point.
  • A flexible approach with an ability to work with other departments in the organisation.
  • Ability to remain highly motivated and focused towards the key measurements.
  • Team player who is also selfmotivated and can work independently.
  • Adaptable to changing business needs a team player with a flexible approach and the ability to multitask.
  • Energetic & enthusiastic and a supportive and proactive team player.
  • A good understanding of the FCA Client Money regulations will be an added advantage.
  • Energetic & enthusiastic and a supportive and proactive team player.
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