Job Description

Role
Description
FNZ is an asset custodian. This means we hold client assets in our names as nominee and are responsible for the administration of those assets. As part of the administration function FNZ have a duty to have robust control processes are in place and working effectively to ensure platform functionality/accuracy. Reconciliations is an integral part of these key controls.
As a Reconciliations Analyst you will be located within the Asset Services division of FNZ Ltd and will be responsible for the control function which ensures that the cash and asset positions recorded on the FNZ platform for our underlying clients within the APAC region align and are accurate to those records held on our behalf by the various 3rd party sub‐custodians and banks for a range of investment products across New Zealand and international markets.
For any positions that do not align, you will need to complete an in-depth investigation process of the exceptions and complete the necessary actions to manage the exceptions through to resolution.
Role Responsibilities

• Souring of raw data from both FNZ platform and various 3rd party custodians/banks. Validation, formatting and uploading of source data to platform.

• Creation of cash and asset reconciliation reports including exception identification. within agreed timeframes. Investigation of exceptions between FNZ platform records and sub‐custodian or 3rd party and registry holdings. Identification and allocation of exceptions to appropriate team for resolution.

• Distribution of reconciliation reports to key operational teams within agreed timeframes. Liaising with appropriate internal and/or external stakeholders to ensure that allocated exceptions are resolved in a timely manner. Management of exceptions until cleared from the reconciliation report.

• Generation of exception summary reports for management and/or clients where required. Raising and escalating of any potential risk issues to management as per agreed escalation matrix.

• Asset instruments include (but not limited to) equities, bonds, managed funds, term deposits and debentures. Cash reconciliations include all client deposits, withdrawals, trades, corporate actions and sweep transactions.
• Completion of daily control checks to ensure that system controls are working effectively.

• Working with other team members and management to enhance processes for greater efficiencies and controls within the business. Undertake any other projects/tasks as may reasonably be required to facilitate the smooth operation of the company.

• Establish and maintain relationships with market data service providers, custodians, brokers and other third parties to promote the highest level of communication and operational efficiency and resolve any service level issues.

• Maintain records and issue logs to ensure the processes are transparent to regulators and external auditors regarding breach and reconciliation recording.

• Prioritise to ensure all tasks are completed on time and within agreed operational deadlines and client contractual requirements. Updating and maintenance of all reconciliation operational procedures and checklists

Performance Assessment
Internal Process/Control

• Completes tasks accurately, completely and to agreed deadlines/ targets (KPI’s) according to the standards and procedures outlined
• Ensures that outputs meet required standards and the needs of internal and external clients
• Adheres to all compliance standards including the use of the breaches register, complete and up to date written procedures on Reconciliation processes and adequate controls over these processes. This also involves following the escalation policy

Client

• Ensures FNZ clients are highly satisfied by consistently dealing with them professionally and by maintaining green KPI’s and good client scorecard ratings
• Ensures internal clients are satisfied by being an excellent team player, assisting colleagues when necessary
• Establish relationships with market data service providers, custodians, brokers and other third parties to promote the highest level of communication and operational efficiency and resolve any service level issues

Financial/Costs

• Ensure increased efficiencies with the Team operating off the same, up to date, information
• Participate in Operational projects to increase revenue and decrease costs