The core function of this position is to perform daily valuation, calculation of daily NAV of unitized Shariah compliant portfolios and the reporting to management.
1- Investment Administration
- Oversee Investment Administration on the department systems and applications (including Sungard Suite & Neoxam)
o Checking and confirmation of all trades including but not limited to equities, fixed income,
o Loading and verification of expenses
o Loading of new securities and portfolios in the systems
o The NAV of each fund is calculated accurately at each valuation day in accordance with the industry practice and pricing standards.
o Ensure valuation of Shari’ah Compliant instruments for all asset classes in line with Shari'ah standards for Islamic financial institutions and the industry.
o Ensure that this figures are reported to the regulators, data services providers, media and clients timeously
o Ensure that accurate foreign exchange rates are used in the translation of non-base currency denominated securities and balances are accurately converted into base currency.
o Ensure that correct number of shares in issue at each valuation point in the calculation of the NAV
o Ensure that the calculation of distributions and capitalization are done accurately and on time.
o Ensure daily compliance of the UCITS portfolios.
o Oversee Money Markets transactions, Custody and Settlement
- Calculation of Non-permissible income
o Calculation of non-permissible income to ensure that the funds are in compliance with the mandate given by the customers and in line with the Shari’ah Advisory Board and also comply with the provisions of the Prospectus as approved by the FCA.
o Ensuring that the parameters provided by the Shari’ah Advisory Board are complied with.
o Ensure that the various types of corporate actions are captured on the system correctly.
o Ensure that investment income accruals are recorded accurately and timeously.
o Ensure that investment income are received in the relevant bank accounts on the relevant dates .
o Ensure that complex corporate actions including voluntary are captured in accordance with the recommendation of the investment analyst and corporate action committee.
o Ensure that withholding tax and WHT tax claims receivable in respect of dividend accrued are accurately accounted for and claimed
- Performance fee calculation and Reporting
o Ensure the accuracy in the performance calculation as per GIPS standards, ESMA Guidelines and Prospectus
o Ensure accuracy in the performance reporting to clients, data services providers, rating agencies and internally to the relevant department.
- Ensure that recons are done timeously and accurately:
o Bank recons
o Script recons
o Systems recons in Neoxam (Tax8, InvestOne and Xamin,).
- Responsible for management of relationship with
o Internal departments
o Custodians and Depositary
o Data Service providers
- Service Delivery Management
o Client relationship and complaint management
o Client satisfaction and timely reporting
- Ensure that reporting is done accurately and timeously and this include both external and internal reporting to
Bank of England
o Data service providers and media
- Create, implement and maintain reports and documentation and according to the legislation
- Ensure understanding of front and back office systems including Neoxam, Xamin, InvestOne,
- Preparing accurate and insightful management reports by applying principles of Islamic Finance & Shariah compliant instruments to analyse financial information.
2- Qualification Requirement
- Excellent academics.
- Bachelor Degree in Accounting and Finance or any other recognized relevant qualification.
- A certificate in Investment Fund Services and/or Professional Certificate in Compliance is prerequisite for this role.
3- Minimum Experience in years & Skills
- 3-4 years post qualification experience in back office administration function asset administration department of a recognized Financial Services Company that specialized in Shariah compliant Funds.
- Strong finance and technical background in Shari’ah Compliant and Islamic Finance especially the knowledge of Shari’ah Compliant instruments and their valuation is also critical for the role. Candidate must have previous experience in the calculation of Non Permissible Income (NPI)
- Candidate must have extensive experience of systems including Neoxam, Invest One, FIS Performance Fee Module and Xamin.
- Strong understanding and sound working knowledge of Undertaking for Collective Investment in Transferable Securities Directives (UCITS), Markets in Financial Instruments Directive II (MiFID II and ESMA Guidelines on Performance Fees and Liquidity Stress Testing.
- Proven track record of achieving goals; analytical, planning, problem solving and decision making skills.
Open date: 31 July 2020
Closing date: 28 August 2020
Salary will be competitive