Assistant Vice President (AVP) - Reconciliation Process

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Job Overview

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Job Summary:

AVP for Reconciliation Process will be a critical leader within our Capital Markets and Securities Services operations. This role demands a highly experienced professional with a deep, hands-on understanding of complex reconciliation processes, particularly those involving corporate actions. The AVP will be responsible for overseeing, optimizing, and enhancing reconciliation functions, ensuring accuracy, efficiency, and compliance. This individual will lead a team, manage key stakeholder relationships, and drive significant process improvements, including leading large-scale transitions.

Key Responsibilities:

Process Management & Optimization:

• Lead the comprehensive reconciliation process for various capital market products, ensuring timely and accurate resolution of breaks.
  
• Deep expertise in Corporate Actions reconciliation is a MUST, including but not limited to dividends, mergers, acquisitions, stock splits, rights issues, and bond calls. This includes understanding their accounting implications and ensuring accurate reconciliation across all affected accounts and systems.
  
• Develop, implement, and maintain robust reconciliation procedures and controls to mitigate operational risks.
  
• Identify opportunities for process automation and efficiency gains within the reconciliation function, leveraging technology and best practices.
  
• Oversee the end-to-end lifecycle of reconciliation breaks, from identification and investigation to resolution and reporting.
  
• Ensure adherence to internal policies, regulatory requirements, and industry best practices.
  
• Drive continuous improvement initiatives, fostering a culture of operational excellence and innovation.
  

People Management & Leadership:

• Lead, mentor, and develop a high-performing team of reconciliation professionals, fostering a collaborative and supportive work environment.
  
• Conduct performance reviews, provide constructive feedback, and identify training and development needs for team members.
  
• Delegate tasks effectively, manage team workload, and ensure optimal resource utilization.
  
• Promote cross-training and knowledge sharing within the team to build resilience and expertise.
  

Stakeholder Management:

• Act as a primary point of contact for internal and external stakeholders, including Front Office, Middle Office, Finance, Risk Management, Technology, and external custodians/brokers.
  
• Build and maintain strong working relationships with all stakeholders, ensuring effective communication and collaboration.
  
• Represent the reconciliation team in cross-functional projects and initiatives.
  
• Provide regular updates and reporting on reconciliation status, challenges, and initiatives to senior management.
  
• Effectively manage escalations and resolve complex reconciliation issues by coordinating with relevant parties.
  

Transition Management & Project Leadership:

• Lead and manage large-scale reconciliation transitions, including system migrations, new product onboarding, and operational changes.
  
• Develop comprehensive project plans, manage timelines, resources, and budgets for transition projects.
  
• Work closely with technology teams to define requirements, test solutions, and implement new reconciliation tools and platforms.
  
• Ensure seamless integration of new processes and systems with minimal disruption to ongoing operations.
  
• Drive process re-engineering efforts post-transition to achieve optimal efficiency and control.
  

Required Skills & Experience:

• Minimum of 10+ years of overall experience in Capital Markets and Securities Services operations.
  
• Minimum of 5 years of hands-on, dedicated experience in complex reconciliation processes.
  
• Proven, in-depth, hands-on understanding and practical experience with Corporate Actions, their accounting treatment, and their reconciliation across various financial instruments is absolutely essential. Candidates without this specific expertise will not be considered.
  
• Strong understanding of various financial products (equities, fixed income, derivatives, etc.) and their lifecycle.
  
• Demonstrated experience in leading and managing teams.
  
• Exceptional analytical and problem-solving skills, with a keen eye for detail.
  
• Strong project management and organizational skills.
  
• Excellent written and verbal communication skills, with the ability to articulate complex issues clearly and concisely to diverse audiences.
  
• Proficiency in reconciliation systems and tools (e.g., Multifonds, Celonis, SmartStream, TLM, etc.).
  
• Advanced proficiency in Microsoft Excel; SQL knowledge is a MUST.
  
• Ability to work effectively in a fast-paced, high-pressure environment and manage multiple priorities.
  
• Proactive, self-motivated, and able to work independently as well as collaboratively.
  

Education:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
  
• Master's degree or relevant professional certifications (e.g., CFA, FRM) is a plus.
  

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Job Family Group:

Operations - Transaction Services

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Job Family:

Fund Accounting

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Time Type:

Full time

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Most Relevant Skills

Please see the requirements listed above.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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