The position at a glance
Organize, control, coordinate, optimize and standardize Fund Administration activities while ensuring the best possible cost, quality, timeliness and reliability, and complying with the Group's internal control framework.
Develop direct reports and team members within the scope of responsibility to guarantee sound production conditions and a sustainable business over time.
Support and manage departmental transformations in line with the Global and Local strategies.
Department Purpose/ ObjectivesThe Fund Administration in Montreal ensures the delivery of financial services as contractually delegated by the bank's clients. The services in question cover the different areas of: Calculation & Control of the Net Asset Value, Calculation, control and payment of invoices, Financial Reporting to clients, Auditors & Regulator, control of Investment Compliance.
In detail The Head of Canada Fund Administration is responsible for:
Team Management - Recruit, train, develop and evaluate Fund Administration teams in CoE Canada
- Define, together with Head of CoE, Department Heads (Group Managers) and team managers, the competencies required for each existing role.
- Ensure that collaborators possess the necessary skill level; where gaps exist, design and implement appropriate training plans to help them develop their skills in their position.
- Approve internal and external (consultant) recruitment for the Fund Administration area.
- Conduct continuous performance assessments for new hires and a final review at the end of the probationary period to confirm or reject permanent employment.
- Provide regular feedback to direct reports on managerial behaviour and achievement of their objectives.
- Continuously listen to team members and remind them to comply with the BNPParibas Code of Conduct, BP2S internal regulations and Luxembourg Fund Administration procedures (phone availability, working hours, etc.) other regions in case that Montreal FA team takes production role.
- Conduct performance reviews for their direct reports, set and monitor their objectives, identify training needs, and ensure their follow-up.
- Anticipate mobility and career development for Fund Administration staff.
Budget Ownership- Take responsibility for the budgeting process within the assigned scope. Define and justify the budgetary hypotheses.
- Monitor budgets, anticipate any overruns and alert the IFSO Operations Manager as needed.
- Ensure uniformity of procedures and processes across the different teams.
- Control the diffusion of best practices and the standardization of ways of working between different teams and between different collaborators within a team.
Production Management & Control - Structure the Fund Administration organisation in Montrea
- Ensure a good level of efficiency and productivity through the use of the management tools provided from FA.
- Embrace and promote methodologies and tools that improve team effectiveness.
- Ensure compliance with processes, procedures and incident handling, and implement corrective actions when incidents occur.
- Validate / Diffuse / Ensure compliance with procedures.
- Track production incidents
- Review and validate incident reports
- Management of follow-up of recommendations (Risk360 / Aurora).
- Define in collaboration with the Team Leader, action plans for specific cases ("birdie" incidents).
- Ensure KPI production and monitoring.
- Escalating issues in case of any issues.
- Guarantee the proper functioning of the BP2S internal control system:
- Ensure that these controls are sufficient and properly documented.
- Ensure that collaborators perform first-line controls for which they are responsible.
- Verify that points raised by the Control & OPC team are addressed and an action plan is in place.
- Apply the procedures of FA and making sure that the procedures are up to date, easy to read and applied.
Quality of Production & Client Relations - Maintain a high level of client satisfaction.
- Ensure the quality of NAVs produced and compliance with production deadlines as stipulated in client contracts and in any operation memos (when applicable):
- Ensure the regular updating of memo operations for clients who have them.
- Ensure services delivered to clients adhere strictly to the details of the operation memo or, if none exists, to the SLA.
- Ensure that teams do not provide services that have not been sold with clients.
- Escalate any additional service requests to Client Development
- Manage the flow of new clients or new funds.
- Confirm that a team manager, deputy, supervisor or CAM is designated to participate in service reviews or client communities and provide backup when necessary.
- Evaluate client satisfaction levels, identify critical issues
- Escalate any sources of dissatisfaction to management
Supplier Relationships - Ensure adequate quality oversight of work performed by sites in Montréal.
- Monitor the quality of pre-NAV work of the CoE is appropriate for and that the Oversight framework is adequate.
- Escalate quality issues to the CoE management, and to the IFSO Gobal FA & Operations Manager.
- Escalate any quality issues or difficulty encountered with the teams of the Chennai Hub for Pricing, IT to the Montreal CoE and IFSO management.
Internal Communication - Guarantee effective internal communication for Fund Administration.
- Ensure the transmission of information related to the activity and operating context to direct reports.
- Relay information concerning unforeseen events or problems to the appropriate stakeholders.
- Organize team meetings with their direct reports
- Participate in meetings/committees with other teams or departments or delegate a team member where appropriate. Ensuring that meeting minutes are obtained when delegation occurs.
Staff supervision/ Organizational Structure:
- Head of FA is locally reporting to Head of CoE
- Head of FA is functionally reporting to Global Head of FA
Work conditions: This position provides for standard working conditions in an office and a normal work schedule from Monday to Friday. Willingness to work from 11:30 am to 7:30 pm EST on weekdays and on Luxembourg Calendar (Canadian holidays) excluding Christmas and New Year's Day.
The strengths and skills that will help you succeed- Banking and Financial Operations
- Accounting and Finance
- Expertise in Multifonds
Education:- Bachelor's degree or Master's degree preferred.
Years of experience:Languages:- English (Fluent)
- French: desirable but not mandatory
Technical skills:- Management experience (medium to large teams)
- General Banking Knowledge
- Functional as well as technical knowledge of the applications used within BNPParibas
- Knowledge of the Norms and Standards of the BNPParibas Group
- Management of Operational Risk through Permanent Controls and mitigating actions
- Agile working methodology
Transversal skills:- Client Focus mind-set
- Excellent communication skills
- Collaborative & inclusive mind-set
- Team building spirit.
- Experience of delivering strategic priorities within strict timelines.
- Analytical mind-set
- Ability to work well under pressure and to manage stress scenarios.
*Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. Professional working proficiency in English language is required.
What's in it for youIn addition to competitive compensation, we offer flexible benefits including a family and spouse insurance program, a defined contribution pension plan and paid days for volunteering. Hybrid work arrangements are available for most positions. In-office presence is required a minimum of 3 days per week, one of which must be on a Monday and/or a Friday. BNP Paribas provides excellent training and personal development programs, as well as opportunities for career development within the company and internationally.
To find out more about our range of benefits, click here
What you need to know- We will review candidates as they apply, so don't wait to submit your application;
- You must be legally eligible to work in the Greater Montreal area and, if applicable, hold a valid work or study permit. Physical presence in BNP Paribas' office(s) is an essential function of this position;
*** While the description above describes our ideal candidate, we encourage applicants to apply even if they do not fully meet the complete list of qualifications noted***
