WMP Administration provides operational support to the Wellington Management Portfolios (WMP) offshore funds, a strategically important product line domiciled in five countries. As the lead person across all fund domiciles, the WAA will work closely with the external custodian, accounting/administrative agent, auditor and internal groups to ensure proper controls exist over all fund operating expenses.
The WAA operates in a highly professional environment with experienced individuals. The WAA is exposed to multiple areas of the firm and will have the opportunity to participate in initiatives to support and develop the complex WMP offshore funds business. The WAA is required to work independently as well as contribute to a team atmosphere spanning functional lines.
The WAA is responsible for ensuring the integrity of the financial data for the group of funds It is expected that the WAA develop and maintain relationships with and provide oversight to the external accounting and administrative agents within each jurisdiction to ensure that a high level of service is being provided to the WMP funds and the clients invested in the funds.
The WAA will be expected to evaluate and standardize existing processes across multiple domiciles, as well as think and act in a strategic and innovative way to help ensure the operational model remains effective and efficient as our business continues to grow and change.
Job Responsibilities
• prepare fund expense pro-forma for new fund launches or refresh for existing funds. • process and approve expense payments on behalf of funds in accordance with fee schedules. • review invoices and discuss with service providers with an eye to reducing expenses where possible. • maintain tracking of fund expenses for management reporting purposes. • reviews complex calculations such as asset based management fees, performance fees, trail commission payments, expense caps and subsidies. • establish expense budgets for fund launches, and oversee processes for truing up expense accruals. • review fund expense ratios. • assist with fund audits with regards to operating expense presentation and questions.
additional duties may include reviewing the funds' performance returns and NAV calculations, providing oversight of the centralized asset and cash reconciliations to the custodian/fund accounting records as well as resolving complex accounting and custody issues
Qualifications:
The successful candidate will have a college undergraduate degree and a minimum of 5-7 years experience in the financial industry; ideally in expense processing for a mutual fund complex. The candidate will also possess the following: • Substantial technical experience with fund administration, investment products and complex financial instruments. • Ability to: -Manage and prioritize multiple projects/issues amid a fast-pace environment, -Synthesize information quickly, -Identify, research and resolve unfamiliar issues. • Strong analytical skills with attention to detail. • Strong verbal and written communication skills. • Team oriented attitude. • Demonstrated career progression.
