Senior Financial Operations Analyst
Reporting directly to the Director, Finance and Fund Services, the Senior Financial Operations Analyst will support the Director in oversight of the third-party valuation agent and custodian as well as assist with the day to day management of the funds’ financial operations including developing and maintenance of financial processes, analysis and regulatory reporting.
Duties and ResponsibilitiesFund Accounting and Operations
- Resolve fund accounting inquiries escalated by calculating agent
- Perform fund monitoring procedures including: tolerance checks; review of expense and income accruals; reconciliations; variance analysis; and follow-up on discrepancies
- Review and/or prepare fee calculations-management fees, administration fees and performance fees
- Oversight of fund expenses including, preparing fund budgets, monitoring expense accruals and MER calculations
- Prepare fund recoveries and review fund invoices
- Review fund performance calculations
- Review and/or prepare monthly/quarterly investment portfolios for public disclosure
- Review of Fund facts, offering memorandum, simplified prospectus and annual information forms
- Review company’s website and third-party party sites for data accuracy
- Participate in special projects and tasks, providing input on financial reporting, prospectus renewals, new fund launches, etc. as required
- Monitor compliance with the investment restrictions and tax rules of the funds
- Assist in developing and improving NAV oversight workflows and procedures
- Assist in documenting policies and procedures for fund reporting and oversight
- Assist in the preparation of fund financial reports, including writing financial statement notes and portions of the funds’ MFRPs or MD&As as required; ensuring their compliance with current accounting and regulatory standards
- Review and or/prepare schedules in support of interim and annual financial statements and MFRPs/MD&As
- Assist with the funds’ year end audit including liaising with auditors to ensure that audit queries are addressed in a timely manner for completion of all related audit documentation
- Assist in the management of the income and gain distribution process of the funds including the review of monthly and annual distributions
- Review year-end tax reporting including T3 summary and slips, CDS factors, etc.
- Prepare daily forecasts of fund cash flows
- Corporate action processing
- Review of and submission of trade instructions to custodian
- Cash and position reconciliation with custodian and prime brokers
- Ensure data required by the investment team for portfolio trading such as cash positions, security positions etc. is provided on a timely basis
- Education level: University / College Degree in Accounting, Finance or related discipline.
- CPA designation or active candidacy an asset
- General skills and knowledge: Solid understanding of National Instrument 81-106 as it relates to mutual/investment funds. Experience with closed-end funds and structured products
- Technical skills and knowledge: Intermediate to advance Excel skills. Knowledge of security related issues (custody, corporate actions, pricing etc.). Experience with Bloomberg or other information systems. Experience with Mpower an asset
- Minimum of 7 years relevant experience in the mutual fund/asset management industry
- Ability to effectively work within a team environment and on own initiative
- Ability to proactively anticipate, identify and resolve problems as well as multi-task and prioritize workload
- Detailed-oriented and accurate with strong analytical and problem-solving skills
- Ability to analyze and interpret financial data and prepare financial reports, statements or projections
- Ability to implement policies and procedures to maintain compliance with various regulations.
- Knowledge of company policy and procedures applicable to fund accounting/finance.
- Strong organizational skills
- Flexible and adaptable with the ability to learn new applications and processes quickly.
- Ability to work with little or no supervision
- Willingness to assume responsibility and take ownership over the end results or outcomes.
- Excellent interpersonal skills with the ability to communicate (verbal and written) effectively with all levels of staff and management, as well as, external parties
- Willingness to help develop and support team members
- Commitment to continuous learning in order to enhance professional growth and effectiveness within team/department
- Ability to make decisions that go beyond existing procedures
- Results oriented: a concern for working well and exceeding expectations
- Desire to look for new ways to add value and improve upon the quality/quantity of financial information that the department provides to internal and external parties