Location: Los Angeles, CA
Posted November 2014
The Middle Office Specialist will have primary responsibility to monitor and log instructions for contributions and withdrawals and to support the department’s QA (Quality Assurance) Review for SMS trade tickets check, and Corporate Action processes. This position performs a critical role of monitoring time-sensitive instructions for incoming and out-going cash flow and for supporting Corporate Actions events. The Middle Office Specialist will liaise with Client Services and custodians for portfolio-specific cash activity, and ensure cross-communication of critical cash information between the firm’s departments at all levels internally. The associate will support the new account funding, account closure, and conversion process, and ensure logs and audit requirements are met.
- Review incoming emails and fax to the Middle Office Group, identify Contribution and Withdrawal instructions, perform review, process, and communicate the cash flow instructions.
- Perform QA review for contribution and withdrawal instructions, and ensure that exceptions identified are promptly communicated and resolved.
- Adjust the Cont/With database to reflect changes, revisions, and updates to prior instructions.
- Handle the Cont/With update and daily review, and perform follow-up with the custodians to secure confirmation for the effective date for posting contributions and withdrawals.
- Perform QA reviews for trade tickets with verification of information against source data.
- Cultivate and maintain positive relationships with custodians and internal/external clients; work proactively to ensure timely and accurate processing of corporate action transactions and cash movement notifications.
- Work with other teams in Operations (Reconciliation, Settlements, Derivative Operations, and Data Management) to ensure that cash transactions and cash flow are accurately recorded in the portfolio management/accounting system.
- Communicate cash flow information to Investment Control and the Cash Management Teams.
- Work with Client Services and other Investment Operations teams as needed on new account funding, account closures, and custodial conversions.
- Maintain the new account/closed account and conversion logs and ensure SOC1 audit requirements are met.
- Demonstrate Demonstrated ability to multi-task and handle ad hoc special reporting and projects as they arise.
- Support SOC1 (formerly SAS 70) requirements for the Operations Team..
- Bachelor’s Degree in Accounting, Finance, Economics, or related field
- Two plus (2+) years’ experience performing similar duties with a fixed income asset manager or equivalent sell-side experience preferred
- Knowledge of domestic and global fixed income and equity securities/instruments is required.
- Strong interpersonal skills (must establish good rapport with internal and external business partners, including custodians).
- Excellent organizational skills and attention to details.
- Strong research and analytical-problem solving skills with attention to detail.
- Ability to work well in a fast-paced team environment and interact professionally with all levels within the organization with a positive attitude
- Solid verbal and written communication skills required
- Demonstrated ability to work independently, prioritize, multi-task, and consistently meet deadlines.
- Strong computer skills, including proficiency in Microsoft Excel and Word.
- Bloomberg experience with securities payment and related research is required.
- Preferred experience in investment middle and back-office operations, including familiarity of, corporate actions, cash processing, and transitions of new accounts; and an understanding of how these departments impact other departmental areas within the firm.
- Understanding of bond products and their mechanics(MBS,ABS,TIPS,MUNIS) is a plus
- Familiarity with fixed income operations processes is a plus