Rare opportunity to join an Asset Manager in Durban! This role requires 2+ years relevant Investment Administration experience essential, either within an Asset Manager or within a 3rd party administrator.
You will be part of the Operations team, and responsible for:
- Checking all forms and supporting documentation have been received according to the relevant checklists
- Capturing and processing new complete application forms within the daily turnaround times
- Following up with the Communication Centre for incomplete application forms and instructions
- Monitoring the bank reconciliation and following up on any outstanding funds daily
- Checking client signatures have been verified and all supporting documentation has been received and processed in line with Legislation (such as FICA, POPIA, FATCA and FAIS requirements) and in line with the clients’ instructions (e.g. repurchases, switches and transfers)
- Processing clients’ instructions to change any personal details (such as bank account numbers and addresses etc) and ensuring all relevant supporting documentation is attached (such as FICA and FATCA)
- Learn and understand the requirements of all the Solutions products, and the Legislation which governs each product
- Calculating the profit and loss on any back-dated transactions, as well as notifying the Team Leader and/or 2IC and updating the Risk Review folder
- Checking and balancing the Debit Order process, and ensuring that all clients will still be compliant with Regulation 28, once the debit order is processed.
- Checking Monthly Distribution Reports to ensure all clients’ required monthly incomes have been met, including sample checks of clients’ Dividend Withholdings Tax calculations and Financial Advisor’s fees and relevant Drawdown
- Generating the Intermediary Admin Fee report and doing sample checks on these figures.
- lancing the Payments Schedule of all Financial Advisor’s Commission for all the Solutions products before commission payments are made to the Financial Advisor.
- Checking the PA policy anniversary process.
- Checking the clients in the compulsory funds to ensure they are Regulation 28 compliant.
- Sample Checking of the Daily Reporting and Welcome packs for clients and Financial Advisors.
- Emailing the Services Team to print, post and email the Daily Reporting.
- Sending correspondence to clients who are not compliant with Regulation 28 and monitoring these clients to ensure their asset allocations are changed / switched to be compliant within the legislated timelines.
- Checking quarterly statement figures reflecting in the asset allocations, pie charts, activity and distribution summaries
- Checking tax statements such as IT3b, IT3c, IRP5, IT3a and Contribution Certificates.
- Ad hoc statements.
Some core suitability requirements :
- Tertiary degree (BCom / BBusSc or similar)
- 2+ years investment administration experience
- Unit Trust / Retirement Fund background and experience would be an advantage
- Proficiency in Microsoft Excel and Word is necessary
- Excellent numerical skills (Matric HG Maths as a minimum)
- Accuracy and exceptional attention to detail are critical
This is an EE designated opportunity.
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Please note that if you do not receive a response from us within 2 weeks of your application, please consider it as unsuccessful for this particular role – thank you.