Associate - BRC

Description

Banking, Reconciliations & Control (BRC) 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, BRC includes the processing of fund distributions, tax & interest accrual processing and various other control related activities for Business Operations. 

The successful candidate, as a member of the BRC team will be responsible for supporting the growth of the BRC activities based in the India Service Centre. This role is responsible for ensuring that appropriate client money regulations and controls on customer assets are adhered to and best practice standards are maintained across all activities, particularly in the protection of customer assets and client monies.

Purpose of your role

This process involves daily allocation of payments received in the offshore/onshore bank accounts. It involves investigation of payments received, coordinating with other departments / Client Relationship Management teams for timely allocation of payments received, requesting deals, monitoring and recording outstanding items for report purpose. It also involves informing bank reconciliations team about money movements across various bank accounts. The process also entails ensuring adherence to compliance requirements with respect to money movements and customer assets in day to day operations.

Key Responsibilities

Ensuring timely download of statements from Barclays.net and support various products e.g. Retail SIPP, Sonata etc. Settlement of cash receipts received in the all of the accounts as per defined SLAs. To gain and apply knowledge of the products/services & procedures within Fidelity and in the Financial Market, and ensuring it to be maintained and updated regularly e.g. AML, Third party providers etc. To be able to gain & apply knowledge of mutual funds and the investment products the role holder supports. Should be able to navigate the organisation. Investigate and follow up on the outstanding items with other departments within BRC ( Controls & Settlements, Clearstream & Euroclear Settlements, Bank Recs, Pricing Recs, CBU (UK), BOA, BOA Liaison etc.) as well as other departments in UK etc. Understanding of the 7 principles of customer service Good knowledge and understanding of UK Business area’s products and processes To manage timely money movements between Client and Settlement Bank Accounts to address any shortfalls/surpluses and avoid potential breaches. To be able to gain understanding of various sources / channels of information related to one's work and ability to seek clarity in case of ambiguous customer requests. To be able to gain knowledge and understanding of the systems and tools used within the process and team. To be able to record data accurately that could be used for relevant MI, and ability to effectively understand MI that is published and its impact on their performance. Awareness of the key KPIs and actively works towards achieving assigned goals. Ensuring productivity and quality targets are met as assigned. To develop understanding of Risk and Breaches and how/where to escalate. Awareness of customer feedback relating to your process in Complaints, NPS etc. Produce reports for aged items & review all the outstanding credits Ensuring complete groundwork and investigations are done before returning unallocated monies. To gain regulatory knowledge and ensure knowledge is regularly updated and maintained. To gain knowledge of the products & procedures within Fidelity and also within the Financial Market, and ensure knowledge is maintained and updated regularly. To gain subject matter expertise and represent the team in projects like fund launch/merger impacting Cashmatch/CBU Payments IN. To ensure client education as when client remits monies in incorrect bank account. To suggest process improvements and drive them in collaboration with the supervisor and other team members.

Experience and Qualifications Required

B.Com or an equivalent bachelor’s degree from a recognised university. 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. Proactive approach towards problem solving. Excellent communication skills- verbal and written. Good computer skills with knowledge of MS Word, Excel and Power Point. Knowledge of GFAS, Autorek, Composer would be added advantage A flexible approach with an ability to work with other departments in the organisation. Should be approachable, assertive and credible Ability to remain highly motivated and focused towards the key deliverables. Team player who is also self-motivated and can work independently. Energetic & enthusiastic and a supportive and proactive team player. Demonstrates good use of initiative, a high level of commitment to improving customer services / processes Adaptable to changing business needs – a team player with a flexible approach and the ability to multi-task.

Feel rewarded

For starters, we’ll offer you a comprehensive benefits package. We’ll value your wellbeing and support your development. And we’ll be as flexible as we can about where and when you work – finding a balance that works for all of us. It’s all part of our commitment to making you feel motivated by the work you do and happy to be part of our team.

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