Fund Operations Supervisor
MEDIOLANUM BANKING GROUP
The Mediolanum Banking Group is a leading Italian financial conglomerate listed on the Milan stock exchange and a constituent of the FTSEMIB index. It was founded in 1982 with the aim of delivering customized, value adding investment products and services to retail clients by means of an innovative, client centric, service orientated distribution model.
Today the two basic components of Mediolanum’s early success, innovation and client service, are firmly embedded in the DNA of the organization and none more so than in Mediolanum’s Irish operations which have developed over time to become the financial research and development centre for the Group, driving product and service innovation across its mutual fund and insurance businesses alike.
Established in Dublin since 1997, Mediolanum has a Fund Management Company, an Asset Management Company and a Life Insurance Company with each focused on the research, development, and discovery of innovative investment products and services, which it then delivers to its European retail client base through UCITS and Non UCITS mutual funds as well as unit linked life insurance products. These products are distributed primarily through the Group’s Banking entities and their Family Banker sales networks. The Irish Operations with almost 100 people also support our Group entity Gamax AG in Luxembourg which is growing its institutional business. Our people are continuously trying to effect change for advantage and we have created unique internal mechanisms to foster and develop IP initiatives in all aspects of our activities.
Our overall business has grown to now having c. €37.5 billion in assets under management. When recruiting we are seeking persons who are creative and who want to innovate, and who can leverage on the pools of knowledge and skill available to us through many partnerships at a global level.
The Fund Operations function operates as a point of contact and an intermediary for the Mediolanum group entities in Ireland, Italy, Luxembourg, Spain and Germany and the various outsourced service providers. The role involves an interesting mix of routine control oriented works, problem solving and projects. It represents an excellent opportunity for an experienced proactive individual who can demonstrate their understanding of Fund Administration, primarily as it relates to UCITS and AIFs. While the role contains some routine tasks it primarily requires initiative in dealing with new projects and issues as they arise by managing internal deadlines against deliveries of the outsourced service providers.
This role would suit a person with a track record in achieving deliverable targets in the Fund Administration business. Mediolanum have a strong focus on automation and innovation and strong IT skills are a distinct advantage.
Duties will include, but not limited to the following
- Assume day to day ownership and operational oversight of operational interactions between Management Company, Distributors, Investment Managers, Administrators, Custodians, Lending Agents etc.
- Demonstrate understanding and flexibility where the role and priorities can change.
- Receive, Process, Monitor and Respond to operational queries sent to “Fund Operations”
- Monitor / Follow-Up all queries sent to Outsourcers and oversee satisfactory conclusion.
- Critical Controls (NAV Movements , Security Lending, Large Trades)
- Bi-Weekly meeting with Dublin Mutual Fund Administrator to discuss progress on Open Items
- Bi-Weekly Call with Luxembourg Mutual Fund Administrator to discuss progress on Open Items
- Quarterly Meeting with Fund of Hedge Fund Administrator
- Monthly TER (Total Expense Ratio) Summary & Report for MIFL Board of Directors
- Monthly Operational Control & Compliance Summary for MIFL Board of Directors
- Update details related to Fund Dividend Distributions process
- Agree timetable with all parties
- Prepare estimated pay-outs based on available income supplied by fund administrators
- Oversee payment authorization, communication and settlement process
Manage German Tax Reporting process:
- Agree reporting timetables with all parties
- Coordinate the provision of data by fund administrator
- Liase with German Tax advisers to ensure timely reporting
Manage funds Financial Statements process:
- Agree reporting timetables with all parties
- Weekly call with Financial Reporting teams / Auditors
- Ensure timely provision of reporting by internal Mediolanum parties
- Review of Annual/Semi Annual Accounts
- Prepare Directors Pack for MIFL Board
Manage External Auditors Additional Assurance Report
- Action Plan to be agreed with Outsourcers and Actions monitored.
- Management of Projects, mini-projects, system enhancements as required
Skills / Competencies:
- Quick Learner and Assertive individual who can act independently, assess impact of scenarios and foresee issues arising.
- Organised individual who can self-manage multiple priorities, routine work and urgent issues as they arise. The ideal candidate is self-motivated and focused on resolving issues quickly.
- Display Knowledge & Authority in dealings with all parties and maintaining priority of achieving goals.
- Display Attention to Detail in all aspects of work and relationship.
- Can establish self as a Reliable Point of Contact for internal and external parties. Developing and managing relationships both internally and externally.
- Excellent verbal, written and numeric skills.
- Strong IT skills with knowledge of data management systems and strong advantage
- Should be comfortable working on MS Excel / MS Word (incl. pivot tables, lookup formulae, data filters)
Qualifications and experience:
- 4 – 6 years in supervisory / management role with Fund Administrator (preferably Financial Reporting / Fund Accounting/ Custody).
- Appropriate 3rd Level Qualification
References on Request
Remuneration package will be competitive and based on the successful candidate’s overall abilities and experience.