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WMP Admin Analyst Job Details
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| WMP Admin Analyst (Ref: 717731) | |
| Sector, Sub Sector: | Other |
| Compliance Type: | Regulatory/Compliance |
| Expertise: | - |
| Company: | Wellington |
| Location: | Boston |
| Employment Type: | - |
| Job Description: |
WMP Administration provides operational support to a broad range of funds sponsored by Wellington Management Company. The group supports seven fund structures primarily domiciled outside the US and sold to non-US investors (i.e. offshore funds). This position will help develop and support a new product line that will include alternative investments sold as Limited Partnerships (LP’s); as well as help support an existing LP fund structure. As the lead person for the LP product line, the WAA will work closely with the external custodian, accounting/administrative agent, investor servicing agent, and auditor as well as internal groups such as portfolio management, business management, trading, relationship management, business development, and various operational support groups within the Investment Administration Department to address substantive issues, resolve complex business issues, and provide daily operational support. Participation in cross functional initiatives to launch, support, and develop the LP product line will provide them unique exposure to multiple areas of the firm. Job Responsibilities The position is consistent with that of an Assistant Fund Treasurer and includes overall responsibility for all financial and operational aspects of the funds to ensure their financial integrity. Specific responsibilities include, but are not limited to, the following: Query resolution: Act promptly to address any issues that arise from time to time, including: • Investigating and addressing any compliance breaches and concerns. • Applying error correction policies as appropriate. • Keeping up to date with market developments, new systems, and regulatory requirements and assessing the impact to the funds and/or the clients invested in the funds. • Assisting business development and relationship management. • Addressing any ad hoc queries in a timely manner. Service Providers: Develop solid working relationships with the funds’ service providers, including the custodian, fund accounting agent, transfer agent/registrar, and auditor, to ensure a high level of service is being provided to the WMP funds and the clients invested in the funds. • Review the monthly management report produced by the service provider to ensure the financial integrity of the funds is maintained and all service deliverables are met. • Establish and conduct regularly scheduled meetings with the local service providers to discuss overall service levels, issues, initiatives, business developments and market updates. • Evaluate the service providers by rating and tracking their performance. • Review and update the service level agreement as appropriate. • Analyze fee schedules and make recommendations for fee reductions. • Identify opportunities to create efficiencies and collaborate with internal system teams to develop and integrate automated solutions. Reconciliations: • Monitor cash and asset reconciliation process performed by internal and external groups. • Review performance reconciliations between the Wellington portfolio returns and the funds’ returns, and take appropriate steps to research and resolve any differences that break tolerance. • On a monthly basis, reconcile the fund accounting records to Wellington data including security positions, market value, income, expenses, and partner ownership to substantiate the integrity of NAV’s and Partner Capital Statements; and work with the fund accounting agent to resolve any material differences. New Fund Launches: The WAA will work with other WMP functional teams, such as legal, tax and business management, on all new LP launches. This includes: • Attending cross functional meetings and providing operational expertise. • Reviewing fund documentation to ensure operational processes are detailed accurately. • Analyze operating expenses to determine breakeven / profitability. • Assessing service provider capabilities/recommending service providers • Coordinating with the appropriate Investment Administration groups to ensure all the necessary account set-ups are complete. • Liaising with the service providers to ensure the appropriate markets are open for trading and system set-ups are complete. Client Cash Flows Engage and oversee the client transition management process for new and & Transitions: existing limited partners’ inflows, outflows, and asset-in-kind transfers. The WAA will work with the client, relationship management (including the transition team), Investment Administration, custodians, fund accounting agents and external transition managers to ensure all client transitions are handled in an efficient and effective manner. Financial Administration: The WAA will oversee the production of the funds’ annual financial report. This entails working closely with the LPs’ external fund administrator and auditor : • Coordinate meetings to discuss new regulatory requirements, the production schedule, and any outstanding issues. • Disseminating the report internally to legal, tax, and business management for review and comment. • Coordinating the review and signing of the management representation letter. • Ensuring the financial report is completed, signed by the relevant parties, and lodged with the appropriate governing body by the regulatory deadline. Qualifications: The successful candidate will have a college undergraduate degree and a minimum of seven years experience in the financial industry. The candidate will also possess: • Substantial technical experience with the following: -Limited partnership accounting -Performance fees with high water marks -Monthly partner capital statement reporting -Investment products and complex financial instruments -US tax reporting -US GAAP financial reporting considerations • Demonstrated ability to manage and prioritize multiple projects/issues in a fast-pace environment is critical. • Strong analytical skills with attention to detail. • Strong verbal and written communication skills. • Demonstrated career progression. |
| Job Ref No: | 717731 |
