Senior Private Asset Specialist
- Edinburgh, Scotland (GBR), Glasgow, Scotland (GBR)
- £450 - £500 Per Day
- 12 Months
- Start date: ASAP
- Ref: JP44674
- accounting
- real estate
- operational risk
Job Title: Senior Private Asset Specialist
Location: HSBC Edinburgh ( 2 days remote )
Pay Rate: GCB5 £500 Per Day PAYE or Umbrella (Inside IR35 )
Duration: 1 Year, high probability of extension
Role Purpose:
To assist in providing technical accounting oversight to UK real estate book.
This will cover multiple fund ranges from ACS, PAIF’s, segregated mandates, insurance funds and SPV structures.
To ensure requirements covered and all technical accounting standard adhered to.
The job holder will support the qualified accountants in the team, be proactive in managing change, and work with the accountants to investigate complex accounting standards across domiciles.
A good client facing approach is essential.
The job holder will also be involved in contributing to the design of the operating model and working with the accountant to ensure that robust controls are embedded within structures / books.
Responsibilities:
1 Technical Accounting
Provide expertise to accounting requirements across the asset class and fund jurisdictions.
Ensure that any interpretation of requirements is understood and implemented robustly.
Assist with new technology repercussions of integrating these asset classes within operational mode.
Measured through:
· Successful implementation of work
· High levels of ongoing KPI’s due to implementation of robust operating model
2 Client relationships/Third Party Relationships
Develop and maintain a good working relationship with client contacts and third parties such as audit firms and external technology providers.
Measured through:
Client and third-party feedback
3 Management of Operational Risk
Continually re-assess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
Update and maintain all procedural documentation accordingly.
Ongoing attention to operational risks, reporting and audit requirements. Peer group discussions and adoption of best practice.
Measured through:
· Breach and error statistics
· Key Performance Indicators for services
· Internal and external audit recommendations
· Model Office/Procedures Manual adherence and maintenance.
4 Market Awareness
Maintain an awareness of topical market issues, and in particular changes to pricing and accounting/tax requirements.
Keep up to date with trade journals and technical announcements and identify where changes to current practices may be required.
Measured through :
Feedback from peers, clients and internal/external audit.
Fund Services provides Investment Administration and Performance Consultancy services to Investment Managers and Pension Funds worldwide, including potential services to other parts of the HSBC Group. Fund Services intends to set new quality standards in a competitive environment, to help attract and retain a blue-chip client base.
Our clients operate in a highly regulated environment and it is of paramount importance that all internal controls and standard procedures are complied with at all times. Failure to comply could lead to financial penalties and damage to the Bank’s reputation in the marketplace.
The role involves contact with clients, staff and other external parties such as auditors and trustees and all such communication must be conducted in a client friendly manner to project a professional image in the marketplace.
The role is captured by the FCA Training & Competence scheme
Knowledge & Experience / Qualification:
· Part qualified Accountant.
· Experience of dealing directly with external clients and third parties.
· Knowledge of Investment Accounting and Fund Administration.
· Ability to build and maintain good working relationships with colleagues.
· Ability to communicate effectively in writing and verbally.
· Ability to plan and organise workload to meet deadlines, taking into account relative priorities.
· Strong business sense and awareness of the key issues/risks within the Fund Administration area.
Management of Risk:
Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations, as well as having an excellent knowledge of the FIM.
Observation of Internal Controls:
· Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
· Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
Role Dimensions:
The job holder will be involved in growth area of business for Funds Service. Currently service £10bn of real estate assets directly but linked to ongoing onboards this will increase to £60bn by 2023 which involves expanding our real estate offering and introducing private debt and private equity expertise to within UK Funds Service.
