Insurance Fund Accounting - Assistant Vice President at State Street in Bangalore

Job description

Job Description – AVP – Fund Accounting The main function of the role is: Account for the day-to-day management of a functional/oversight team(s) and manage daily service delivery and production activities performed by staff. Work in conjunction with individuals on the team as well as other Shared Service teams/COE’s, outsource locations, Client Operations and other business units to ensure seamless processing according to the fund’s policies, to ensure NAV/yield accuracy and that all SLAs are met. As well as, Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc. Role specifics:- Act as the primary contact and key escalation point for operational issues, as well as provide technical expertise to resolve daily problems. Manage and escalate issues related to BU Shared Services and COE’s. Manage departments overtime budget effectively, indirectly responsible for other department budget matters. Ensure appropriate records of daily and monthly activities are kept. Assist with compliance/fiduciary reviews, controls, and audits as needed. Establish and maintain files, including highly confidential and sensitive information, which pertains to clients and division/corporate operations, as well as short/long-term strategies, budgets, etc. Assess impacts of regulatory changes. Identify and implement consistent operational best practices. Organize Shared Service internal meetings and compiles related documentation, assisting with the coordination and development of the agenda and may attend meetings to record notes and action items. Coordinate the implementation of new funds, systems and processes as well as assists with client conversions and other client projects. Train, develop and motivate new staff, as well as complete performance appraisals. Provide staffing recommendations by interviewing new personnel and making effective hiring decisions. Serve on committees and help define and implement new company initiatives. Provide coaching and development opportunities to staff, participate in individual on-going training and development. Has accountability and responsibility for completing and delivering PPRs on time. Make effective recommendations to hire, discipline, control work and terminate employment. Make effective recommendations for promotions, salary increases and bonuses. During the course of normal day to day operations, responsible for identifying any unusual or potentially suspicious transaction activity and must report. Skills/Competency parameter differentiators: Result-oriented with an ownership and accountability mindset Commercial acumen - Understanding of cost/budgets Lead/drive the same Drive pay for performance and culture of performance differentiation Taking accountability of end-to-end outcomes as an enterprise, collaborating across functions/business and locations Executive presence, managing with influence and effective communication across stakeholder groups both regionally and globally Embed risk excellence culture across the teams Encourage and drive a culture of change and ideation Mandatory Skill Sets: Strong personnel management skills and prior experience in a supervisory capacity with responsibility for coaching and development of direct reports Minimum of 5 years of management experience, preferably with fund accounting, audit firm or a financial services organization Significant prior financial services industry experience preferred Demonstrated managerial, leadership and decision making abilities, Excellent communication, organization, interpersonal planning, and analytical skills Ability to effectively bring individuals from multiple areas together to resolve identified issues. Should have exposure to trading instruments like Equities, Options, Bonds, Futures, Spots and Forwards, Bank Debts and Credit Default Swaps (CDS) Should have knowledge of Corporate Actions, Income & Expense accruals, SEC Yields, Distributions, NAV calculati