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Senior Specialist - Hedge Fund Accounting

LRI Invest S.A.
Cape Town City Centre Cape Town Cape Town Region, South Africa
Closing date
Dec 11, 2023

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Job Role
Contract Type
Full Time
Senior Specialist - Hedge Fund Accounting - Cape Town

An opportunity has arisen for a Senior Specialist - Hedge Fund Accounting to join our Cape Town office.

Summary of the position
The role of the Recruitment of a Senior Specialist - Hedge Fund Accounting will be expected to assist with the optimisation, execution and daily oversight of operational processes and applications that supports Hedge Fund Accounting division deliverables on South African and Offshore Hedge Funds to drive continuous improvement in this division that are focused on meeting NAV quality standards and maintaining client satisfactions levels.
The individual will be required to assist with issues identified in operations, process reviews, and implementing improvements where needed.
This individual will also be required to be involved in/or responsible for projects aimed at improving processes within Hedge Fund Accounting team and play a key part in the execution as well as the oversight of integration initiatives between offices that are focused on standardization of processes and deliverables to align operating models.

Outline of main duties and responsibilities
The Position will be expected to:

Improve Hedge Fund Accounting's daily and monthly processes and update process documents accordingly;

Assist with design and implementation of bespoke processes, including standardization of Hedge Fund Accounting processes for all funds and jurisdictions serviced out of SA to drive consistency in quality of the NAV, to support processing of large volumes and to streamline reviews;

Provide solutions where issues in operational processes/controls are identified that leads to NAV delays or errors to ensure these issues are resolved and risks mitigated;

Participate and lead system/operational process training to new joiners and/or teams as required;

Provide guidance to team (including management) on technical queries to support finalization of NAV in accordance with SLA requirements and to ensure client queries are responded to accurately and timeously;

Assist the Team Leader / Assistant Manager to perform NAV finalization and oversight reviews as and when required;

Provide solutions for complex client requirements including client engagement, investigation and testing;

Assist with NAV re-price process as and when required including the calculation of the BPS impact analysis;

Provide support and oversight in key projects that includes but are not limited to system upgrades, process optimizations and improvement initiatives focused on efficiencies and the effective delivery of NAV packs to internal/external clients;

Manage project delivery and ensure end-to-end testing are performed obo Hedge Fund Accounting teams before implementation takes place;

Play a key role to drive continuous improvement of NAV deliverable to clients that enables accurate reconciliations to counterparty-/third party records and quicker delivery turnaround on valuations;

Oversee Cherwell's logged to the Hedge Fund Accounting team to ensure open items are resolved by team timeously to meet SLA turnaround times;

Monitor dashboard to ensure risk related items are addressed, discussed with management team and escalated as needed;

Be one of primary liaison contacts with ICT regarding applications used by Hedge Fund Accounting and development requirements;

Assist Managers to provide updates to CRM / SDM team/s on potential delays in NAV delivery to ensure client/s are updated timeously and expectations managed;

Assist management team to ensure external/internal audit findings contains management responses that ensure findings are resolved and risk of reoccurrence mitigated; and

Play a key part in take-on of new clients / funds as part of new client onboardings and/or existing client system migrations.

Skills and experience required

An accounting qualification (minimum B.Com or equivalent) together with 5 years Hedge Fund Accounting experience;

In addition, the individual should have experience with the various fund types either locally or internationally.

IT and Systems Skills and Knowledge:

Advanced level experience in using Excel, InvestOne and other related systems;

Experience with Paxus will be an advantage; and

Proven competence and an aptitude for working with systems.

Skills and Abilities Required:

Detailed understanding of funds and fee structures;

Strong analytical thinking and problem solve ability;

Good team player that enjoys collaborating with others to share knowledge and to solve problems ;

Excellent communication skills (both written and verbal);

Strong with identifying problems and providing practical solutions;

Good with establishing and managing relationships;

Proven track record of liaising with clients and system developers;

Confident, enthusiastic and self-motivated;

A track record of achievement; and

Project management experience will be an advantage.

Previous experience in following will be required:

Good knowledge and understanding of Financial Markets, Instruments and Systems;

Assisting functional teams with process improvements;

Developing and implementing policies and procedures;

Supervising a team and conducting NAV reviews;

Guiding/mentoring junior and new staff and providing fund accounting related process training; and

Managing under pressurised circumstances to meet tight client deadlines; and

Dealing with clients.

Reporting structure
The Senior Specialist (Hedge Fund Accounting) will report to the Head of Operations Specialists: Fund Accounting
Remuneration level
Remuneration will be market related and commensurate with experience and seniority. In addition, the successful candidate will receive a competitive benefits package and be eligible to participate in the firm-wide discretionary bonus scheme.

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