Job Summary:
The Senior Reconciliation Specialist performs as a reconciler and a reviewer/solver. As a reconciler, he/she is responsible for the daily cash and transactions reconciliations between internal books and the custodian, providing treasury with opening balance adjustments, and completing daily holdings reconciliations between the internal and external records. They also provide daily reporting of discrepancies to securities accounting and treasury. As a back-up reviewer/solver, he/she is responsible in reviewing the daily cash balances and transactions and provide sign off for completion of recon. He/She is also expected to communicate findings to reconciler and ensure timely completion of action based on findings.
Role and Responsibilities:
The Senior Reconciliation Specialist will be responsible for efficient reconciliation and review of Manulife Investment Management portfolios and provision of investigative support to related business units and Portfolio Managers. This includes timely and accurate comparison of security position, cash balance and cash transaction with custodians. Establish and maintain cordial relationships with various stakeholders including internal and external parties.
The Reconciliation Specialist is also responsible for the administration of the assigned investment portfolio activity including:
- Reconciliation of securities holdings, cash balances and cash transactions across all portfolios.
- Perform initial investigation and coordinate resolution with the different operations team and external parties.
- Review of reconciliation exceptions of the cash balance, cash transactions and holdings for all portfolios.
- Continuously work with other departments within Investment Division to ensure all outstanding items are resolved in a timely manner.
- Maintain daily and monthly reconciliations filing with proper back up documentation.
- Sign off all daily reconciliations to meet deadlines stipulated in Service Level Agreement
- Work within existing procedures and processes ensuring clear and concise documentation is created and maintained as such procedures and processes evolve over time
- Provide training support to junior colleagues and new joiners.
- Actively prepare MIs, lead and participate on business governance calls.
- Recommend and initiate process improvements and improved controls / service.
- Aid in the successful delivery of compliance, audit, and regulatory facilitated requirements.
- Lead or participate in projects such as system transitions (UAT), process transformations etc.
- Remain updated with relevant industry development and market-specific best practices.
- Act as back-up Team Leaders/Manager as required, participate in a regular program of industry-specific training and interdepartmental cross-training to ensure continuity of service.
- Remain familiar with relevant securities industry developments specifically those impacting the activities of assigned portfolios and/or internal clients and custodial service provider
- Exercise initiative to assist department management in review and analysis of established procedures and processes, making recommendations to ensure that efficient and flexible service is provided to clients at all times
- Provide assistance to other team members and management team when required.
- Adhere to and reinforce established SOX documentation.
- Participate in inter-department cross training to ensure continuity of service.
- Additional duties as assigned.
Qualifications:
- Bachelor's Degree related to Investment and Finance, Accounting, and similar fields with minimum 5 years work experience in reconciliation in a banking or securities administration environment
- Strong knowledge of securities instruments, foreign exchange and other alternative investment.
- Investments accounting knowledge is an advantage
- CISI designation or any equivalent is a plus.
- Computer literate with proficiency in Microsoft Office applications
- Knowledge of back-office accounting systems such as SimCorp Dimension, Bloomberg, DUCO, Aladdin and custodian reporting systems is an advantage.
- Experience with Power BI, PowerApps, automation tools (VBA, robotics), or machine learning is an advantage.
