Job Number: 9729
Position Title: B3-Professional-5
Location_formattedLocationLong: San Antonio, Texas US
AB is a leading global investment management firm that offers high-quality research and diversified investment services to institutional clients, individuals and private clients in major markets around the world. AB employs more than 500 investment professionals with expertise in growth equities, value equities, fixed income securities, blend strategies, and alternative investments, and, through its subsidiaries and joint ventures, operates in more than 20 countries. AB’s research disciplines include fundamental research, quantitative research, economic research and currency forecasting capabilities. Through its integrated global platform, AB is well-positioned to tailor investment solutions for its clients. AB also offers independent research, portfolio strategy and brokerage-related services to institutional investors.
Provide a brief overview of the OPS group, including the core businesses and business functions and applications the group supports, or, if an enterprise-servicing group, what enterprise functions and applications it supports:
The Offshore Financial Control Department is responsible for reconciling all transfer agency related bank accounts, reconciling distributions to shareholder accounts and handling all associated money movements including weekly commissions and Service Fee payments. Other duties also include collecting and reporting data that is used for the Fund’s Financials and the input of the fund Net Asset Value (NAV) and timely delivery of NAVs and contract notes for each Custodian bank. In addition, the Offshore Financial Control department also acts as liaison to Global Fund Accounting, Corporate Accounting and the custodian banks.
We are seeking a San Antonio based International Financial Control Analyst to join our Offshore Financial Control Department.
This position will be responsible for reconciliation of all settled financial activity within the Transfer Agent (TA). This includes the balancing of incoming subscription orders as well as outgoing redemption proceeds. The position also requires reconciling distributions specific to dividends, commissions, and service fees for bank accounts held at State Street Bank, Brown Brothers Harriman and Citibank. In addition, to reconciling accounts, the position is responsible for the input of the fund Net Asset Value (NAV) into our record-keeping application and the timely delivery of NAVs and contract notes for each Custodian bank; as well as to aid in the protection of the Firm from both internal and external fraud.
Applications and business or enterprise functions the role supports:
Ensuring that the processing and reconciliation of mutual fund transactions and their corresponding money movements are completed accordingly
Ensuring timely distribution of NAV’s and contract notes from each custodian bank
Ongoing review of operational activities
The key job responsibilities include, but are not limited to:
Submit daily wires via the custodian bank applications
Reviews as-of transactions report
Reduces the liabilities of the Firm by closing open items within 15 days
Contacts internal ABIS processing units to resolve trade discrepancies
Communicates with Fund Accounting, Corporate Accounting and custodian banks to relate net activity to the funds and necessary money movement
Perform ancillary tasks related to bank account activity
Support other functions within the Offshore Financial Control Department as business needs arise and availability of the individual permits
Responsible for the input of the Fund Net Asset Value in the ABIS record-keeping Corfax application and for the timely delivery of NAVs and contract notes for each custodian bank.
Individuals with a background in accounting would find this position interesting and view it as an opportunity to advance their experience in their designated fields. Individuals will also experience different cultures as we communicate globally within AB operations.
An International Financial Control Analyst has the opportunity to learn about the money flow resulting from mutual fund transactional activity. He/she will gain exposure to the Funds financial reporting requirements as well develop relationships with the custodian bank, Global Fund Administration, and the Portfolio Management Group.
1 to 2 years mutual fund operations experience
4 year college degree or equivalent experience
Working knowledge of Microsoft Outlook, Word, Excel, and Access
Professional, personable, and responsible in manner
Organized, thorough, and conscientious. Establishes priorities and follows through on tasks to completion
Strong verbal and written communication skills
Strong problem solving and analytical skills. Number and detail-oriented.
Ability to work independently and cooperatively in a team setting
Proficient in the use of typical office desktop packages, such as Outlook, Word, Excel PowerPoint, Visio and Access
Special Knowledge: Knowledge of mutual funds, financial or business operations including: banking, securities, and bookkeeping - preferred
Location: San Antonio, TX