Business Overview:
2S Asset and Fund services provides fund administration to its clients, hedge funds. This service includes trade and cash reconciliation, portfolio pricing, fund accounting, investor serving, financial statement preparation and other reporting. This position will be responsible for processing, reviewing and approving investor transactions in hedge funds and ensuring accurate recording of activity and investor attributes in core systems. The position requires a firm knowledge of investor servicing concepts such as Anti-Money laundering reviews and FATCA/CRS reporting, new issue, ERISA, Blue Sky and other relevant regulatory requirements. The position requires reviewing documentation for completeness, ensuring adherence to fund documentation, as well as internal corporate procedures. Applicant will liaise via phone, email and in person with investors and hedge fund managers on all aspects of the investor servicing process. In addition, this applicant will be involved in investor servicing projects including upgrades and implementation of platforms.
Candidate Success Factors:
Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:
- Results and Impact
- Able to influence peers and team.
- Demonstrates good judgement when making decisions of high complexity and impact.
- Exercise appropriate autonomy in the execution and delivery of work.
- Responsible for driving outcomes, which have meaningful effect on team or department.
- Leadership and Collaboration:
- Creates trust with colleagues.
- Acts in leadership capacity for projects, processes, or programs.
- Client, Customer and Stakeholder Focus:
- Able to build relationships with a mix of colleagues and clients.
- Interacts regularly with management and department leaders.
- Demonstrates the ability to influence stakeholders at the team level.
- Compliance Culture and Conduct:
- Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
- Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.
Responsibilities:
- Transcribe data from hedge fund application forms & dealing instructions received from investors onto various transfer agency systems and review for accuracy.
- Preprocess of client instructions such as checking for completeness of instructions, balance availability, application of FX rates & signature verification
- Processing of capital transactions from inception of the trade to issuing of contract notes and ensure they comply with BNP Paribas Anti-Money Laundering standards.
- Liaise with Investors of assigned client funds to clarify dealing requests and ensure that all documentation is complete and in line with company procedures.
- Reporting to Investor and Investment Managers at various intervals throughout the life of the transactions
- Maintain client accounts on the systems to ensure that details are correct and up to date. Amend and upload changes under strict operating procedures as defined by company policy.
- Respond to standard queries and requests from investors in a timely and efficient manner and manage all internal and occasionally external telephone & written inquiries in a professional manner
- Prepare the annual audit reports and respond to all investor audit confirmations for the funds under administration
- Perform anti-money laundering procedures and obtain client identification documents & review same for completeness
- May be required to perform review of input of other team members work as authorized by team leaders
- Process wire transfers via the Bank’s wire application for various internal departments to include liaising with internal teams such as Fund Accounting and Banking Division with respect to the daily reconciliation and processing of investor’s subscription monies, and then remittance of investor’s redemption proceeds.
- Expedite & resolve any returned monies, cash movements or information requests flagged by/to the Internal Cash Investigations Team
- Input and amend wire templates and record client referential payment details in processing systems
- Confirm proper execution of wires to various internal departments and provide updates, as needed, on daily problems affecting the daily work flow and established deadlines
- Ensure all team procedures and controls are adhered to
- Prepare upon request MIS/ KPI data for management reporting
- Additional duties may be assigned from time to time
Minimum Required Qualifications:
- 3+ years’ experience in financial services industry; hedge funds/fund of funds systems &/or banking industry experience a plus
- Willingness to learn new systems, concepts and broaden knowledge in the industry
- Prior Investor Servicing experience required and working knowledge of relevant regulations and legislation for Investor Services (such as ERISA, FINRA, etc)
- Bachelor’s degree required, preferably Accounting, Finance or Economics
- Excellent MS Office skills including Word & Excel
- Understanding of FATCA, CRS and AML regulations and investor related tax reporting
- Understanding of relevant regulations and legislation for Investor Services (such as ERISA, FINRA, Blue Sky, etc)
Preferred Qualifications:
- Willingness to learn new systems, concepts and broaden knowledge in the industry
- Understanding of hedge fund vehicles (legal structure, investment objective, fee structure, liquidity provisions, etc.)
- Understanding of cash wire standards, templates and cash reconciliation process
- Detail oriented, able to process high volumes of activity with no errors
- Courteous, client focused concise communication both written and verbal
- Professionalism and responsiveness to internal and external counterparties
- Strong organizational & problem solving skills
- Firm understanding of bank wire instructions and wire packet support requirements
- Ability to work under pressure with strong problem solving skills
- Flexible and displays a positive attitude
- Team oriented individual who takes initiative and ownership of assigned responsibilities
- Strong oral and written communication skills
- Excellent interpersonal and customer service skills
FINRA Registrations Required:
- Not Applicable
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
- Not Applicable
SEC Security-Based Swap Dealer Associated Person:
- Not Applicable
The expected starting salary range for this position is between $65,000 to $75,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.
In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.
This application will remain open until a candidate has been selected for the role. There is no specific application timeline.
About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65 countries, with nearly 190,000 employees. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.
As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose – to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential.
BNP Paribas. The Bank for a Changing World – https://usa.bnpparibas/en/homepage/join-us/our-opportunities/
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.