AssociateSr Associate Fund Operations-Fund Costs & Budgets

The Associate / Senior Associate will be part of the Fund Oversight team responsible for monitoring and managing fund cost and budget processes. This role ensures accurate review reporting and compliance across fund expense budgets TER (Total Expense Ratio) and fund viability assessments. The position requires strong analytical skills attention to detail and a solid understanding of fund accounting principles.

Key Responsibilities

• Oversight & Review:
  • Review TER and fund budgets for prior and current periods.
  • Validate fund cost components against PPM and fund documentation.
  • Ensure timely confirmation of budget updates and escalate discrepancies.
  • Prepare memo on annual fund cost assessments and closing expense budgets.
• Invoice & Payment Management:
  • Assess invoices against approved fund budgets.
  • Liaise with stakeholders to resolve queries and discrepancies.
  • Review invoices and provide initial approval for payment processing.
  • Track receipt of invoices and maintain accurate records.
• Fund Viability Monitoring:
  • Conduct fund viability reviews and liaise with stakeholders for resolution of issues.
  • Monitor AUM for fund viability and prepare related reports.
• Reporting & Analysis:
  • Prepare TER reporting and budget summaries.
  • Collate expense files for annual assessments and perform data analysis.
  • Support production of ongoing fund cost reporting and provide input for value assessment.
• Onboarding/Offboarding:
  • Assist with completion of fund budget templates during onboarding.
  • Manage and review fund budgets at closure ensuring compliance with internal standards.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Maintain and exemplify a joined-up oversight program overseeing fund administrators depositaries and where necessary investment managers.
• Review of Service Level Agreements to ensure deliverables adequately described.
• Attendance of administrator service reviews
• Engage in the key Net Asset Value oversight for underlying funds which includes:
• Validating NAVs produced by Fund Administrators
• Review of individual asset valuations to ensure compliance with WMC Valuation Policy
• Fund Budget creation review and on-going supervision of costs
• Ongoing analysis of total expense ratios fee accruals and invoicing process
• Assist on the valuation process for funds and SPVs drafting and implementing valuation policies updating policies on a periodic basis and in step with developments supervising on-going valuations in accordance with policies and escalating issues and observations to the Valuation Committee.
• Collaborate closely on a regular basis with service providers (including Company Secretaries Administrators Auditors and Investment Managers) to monitor service levels of delegates.
• Process LEI and ISIN requests for new funds and annual renewals for existing funds.
• To help in the winddown and liquidation process for the funds closing.
• Liaise closely with the various internal teams covering Operations Compliance Relationship and Risk teams to evaluate the financial risks and operational risks of each client on an on-going basis resolving and escalating to the Director as appropriate.
• Keep abreast of regulatory changes in the UK and EU Markets.
• Aspire to be the technical expert in UCITS and AIFs.
• Actively participate in meetings prepare and attend technical training.
• Assist colleagues with completion of fund factsheets and other ad hoc projects.
• Foster positive team environment and ensure open communication.
• Communicate with stakeholders to ensure satisfaction with the service provided and to resolve any potential issues.

EXPERIENCE:

• min 2years years experience within financial services preferably within funds.
• Strong networking skills and adept at building relationships.
• Knowledge of NAV production and/or financial reporting (desirable).
• Must be able to work in a fast-paced environment including reporting and providing support to various members of the team.
• Outstanding time management organizational skills oral/written communication skills critical thinking and attention to detail are required.
• Strong MS Office and Analytic Skills; mid-level information management software experience required.

Required Skills:

Fund AccountingFund OperationsNAVNet Asset ValueFund CostOversightReviewTotal Expense RatioTER