Assistant Manager – Fund Administration

Job Ref. No. JAML032

Role Purpose

The Assistant Manager, Fund Administration is responsible for overseeing fund operations, including investment withdrawals, investment processing, investment trade execution, reconciliations, and ensuring compliance with regulatory and internal governance standards. The Assistant Manager, Fund Administration will play a pivotal role in ensuring the seamless administration of investment funds within the Asset Management Company and also be responsible for preparing comprehensive reports for Management, ensuring regulatory compliance, and fostering collaboration between internal teams to deliver accurate and timely investor services. They will also monitor fund expenses, manage fee payments, and ensure operational risks are proactively managed in alignment with company objectives.

Strategy

• Develop and implement fund administration strategies aligned with overall business objectives.
• Provide strategic input into the design of fund products and services.
• Utilize data and analytics to track fund performance and identify process improvements.
• Support strategic initiatives related to fund structuring and portfolio management.
• Drive digital transformation efforts to enhance operational efficiency.

Operational

• Compile, analyze, and prepare detailed fund administration reports for presentation to the management committee.
• Ensure that the reports provide insights into fund performance, compliance status, investor activities, and key operational metrics. Present recommendations and actionable strategies based on report findings to support executive decision-making.
• Ensure full compliance with all regulatory requirements, filing mandatory reports with relevant regulatory bodies (e.g., Capital Markets Authority) and trustees.
• Liaise with regulatory authorities to ensure timely responses to any queries or information requests.
• Stay up to date with evolving legal and regulatory frameworks affecting fund administration and update internal processes accordingly.
• Oversee the preparation and distribution of investor reports, fund statements, and other related documents to all relevant stakeholders in a timely and accurate manner.
• Ensure that investor queries are addressed promptly and professionally, maintaining a high standard of client service.
• Work closely with portfolio managers and investment analysts to ensure all fund investment transactions are accurately and timely updated.
• Collaborate with the finance team to track and record cash flows, including capital calls and distributions, ensuring proper allocation across investor accounts.
• Monitor all fund-related expenses, ensuring the accurate calculation of management and performance fees.
• Manage invoicing and oversee the timely payment of fees to custodians, trustees, auditors, and the fund manager.
• Conduct periodic reviews to ensure that all fund fees align with regulatory standards and contractual obligations.
• Maintain accurate and up-to-date records of all investment transactions, including subscriptions, redemptions, switches, and transfers across different funds.
• Implement processes that guarantee the timely execution and settlement of transactions, ensuring compliance with regulatory and internal guidelines.
• Develop, monitor, and continuously review the operational risk framework, ensuring that controls and procedures are in place to mitigate risks related to fund administration.
• Implement risk assessment mechanisms to identify potential gaps in fund operations and suggest corrective measures.
• Regularly review audit findings and ensure that identified issues are promptly addressed and resolved.
• Continuously assess and improve fund administration systems, ensuring that processes are efficient, scalable, and in line with the latest technological advancements.
• Lead initiatives to automate reporting and transaction monitoring processes, improving overall accuracy and reducing operational risks.
• Build and maintain strong relationships with external service providers, including custodians, fund administrators, and auditors, to ensure smooth fund operations.
• Represent the company in meetings with external stakeholders, demonstrating a strong understanding of fund administration processes and regulatory requirements

Corporate Governance

• Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of Asset Management.
• Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
• Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
• Compliance: Stay updated with insurance regulations and best practices to ensure compliance with industry standards
• Adherence to the laws and regulations of Kenya, the policies and regulations within the financial services industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

Leadership & Culture

• Building the team capabilities and ensuring adequate succession planning within the department
• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.
• Conduct regular performance evaluations, set goals, and provide constructive feedback to team members.
• Identify training and development needs based on performance gaps and take appropriate action.

Key Competencies

• Analytical skills: Ability to analyze financial data and produce actionable reports.
• Attention to detail: Meticulous in monitoring fund transactions, expenses, and reporting.
• Regulatory knowledge: Well-versed in local and international regulatory requirements for fund administration.
• Interpersonal skills: Strong ability to collaborate with internal and external stakeholders.
• Problem-solving: Proactive approach to identifying operational issues and implementing solutions.
• Technological acumen: Familiarity with fund administration software and a willingness to drive system improvements.

Qualifications

• Bachelor’s Degree in Finance, Accounting, Economics, or a related field.
• Professional certifications in, ACCA, CFA, or equivalent (preferred).

Relevant Experience

• 5-7 years of experience in fund administration, asset management, or financial services.
• Experience in handling investment withdrawals, trade settlements, and reconciliations.
• Proven track record of compliance with regulatory and industry standards.
• Experience in managing operational risk and implementing internal controls.
• Familiarity with fund accounting systems and reporting tools.