Job Description

Group Income and Reporting Senior Accountant12 month FTC with scope to be extendedGlobal Investment Management Group with a global AUM of $830 billion across all asset strategies internationally.The jobholder will be responsible for various accounting activities associated with the revenue streams of the wider business, including ensuring the calculation of income is in accordance with the fee agreements, rebates, distributions fees are calculated on timely basis, that accounts are accurate and relevant analysis supports the business needs.To interface proactively, positively and in a supportive collaborative manner with stakeholders across the Group and within the Finance area specifically. The role will focus on:

• To contribute to the monthly accounting process ensuring all accruals are booked in accordance with agreements and booked within the business day 2 deadline, provide commentary explaining key variances within the month
• Contribute to the activity of the team ensuring other key reporting deliverable are also achieved throughout the year
• Overall Performance, deliverables, quality standards and KPIs of Revenue team
• Establish a high level of credibility and manage strong working relationships with stakeholders across the Group and within the Finance area
• Increasing the capability of Finance to monitor, record, comment and forecast revenues and related costs across the group, ensuring accruals, reconciliations and financial controls are effective at all times
• To seek out improvements, enhancements and efficiencies in process, systems and controls, thoroughly identifying risks and rewards and of ensuring approval and sign off of improvements prior to implementation
• Monitoring of changes in the terms and conditions of fee agreements and structures with clients
• Review and prepare invoices for business entities ensuring completeness, accuracy and presentation are acceptable at all times. (Circa 100 plus Frequency Monthly and Quarterly)

Key Tasks and ResponsibilitiesCalculation of revenue streams for accruals and invoicing purposes

• Ensure accurate calculation of all fees (management, performance, other) due to group entities
• Ensure accurate calculation of all rebates and distribution charges to investors
• Review monthly revenue journals for group entities and cost centres (accrued income/sales invoices)
• Assist with ad hoc requests such as account analysis
• Maintain and enhance a rigorous process for recording income and ensure the SUN nominal and analysis coding is accurate at all times
• Using Revport (Revenue and Expense management solution), prepare all management fee invoices, rebate and distribution fee statements on a timely basis ensuring review and sign off are achieved
• Ensure up-to-date knowledge of sales contracts/client agreements/rate cards, etc, maintained
• Provide technical accounting input to new revenue arrangements and corporate structures

Management Reporting

• Active involvement in monthly reporting and forecasting of revenue and related investor costs including full commentary and variance analysis as required by entities and group stakeholder
• Sensitivity analysis of management and performance on various factors for example markets, flows and fee rates
• Ensure Finance maintains as complete and accurate assets-under-management database as possible, liaising with other functions to improve process and records
• Forecasting commissions structure and liaison with Business Development on agreements and agreed sales information
• Contribution to the annual budget process and five year plan for revenue streams and associated financials

• Maintain Revport (Revenue and Expense management solution), highly flexible rule based fee engine that automates revenue and expense management across the business
• Prepare year-end accounting records for revenue-related balance sheet and profit and loss accounts and co-ordinate responses to audit queries
• Flag issues on a timely basis to other Finance team members as appropriate
• Review existing processes and procedures and recommend enhancements and new controls as appropriate

Accountabilities

• Support wider needs of Group Finance and regulatory reporting to provide input on balance sheet review and for regulatory large exposure monitoring purposes
• Prepare year-end accounting records for revenue-related balance sheet and profit and loss accounts and co-ordinate responses to audit queries
• Preparation of Group AUM and Flows report to support wider business needs and provide ad hoc reports to other areas of business including marketing, business development and compliance
• Liaise with Legal, Business Development during client take on process and review IMAs and distribution agreements

Decision-making authority

• The jobholder is expected to undertake day to day duties with minimal supervision. The jobholder is subject to the staff handbook, Group Finance manual, accounting policies and UK GAAP as well as the in-house compliance manual

Experience required

• Qualified and experienced Financial Accountant (CIMA/ACCA)
• Thorough understanding of the principles and operation of financial controls and reconciliations
• Experience of asset management industry with involvement or understanding of fees, commission and principles of revenue recognition from clients and third parties
• Excellent grasp of general accounting fundamentals, double entry bookkeeping, accounts preparation and financial reporting
• Experience of working as a manager in a group/multi-business environment with multiple cost centres and clients
• Experience and previous knowledge of Revport
• Systems knowledge (SUN accounts package)
• Variance analysis, reconciliation and management reporting
• Thorough understanding of the principles of VAT in a multi-jurisdictional environment

Carnegie Consulting