Intermediate Representative, Fund/Client Accounting

Job Description

OverviewOverview Of BNY Mellon: BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporationsand high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. Team Description: The Global Fund Accounting Bank Loans Support Team is a dedicated team based in Manchester and US Wilmington. The Team will be responsible for the majority of the accounting lifecycle management of Bank Loan instruments. The team will sit within the Trade Capturefunction which is responsible for ensuring the timely processing of all Client and Fund Manager Instructions against intraday deadlines. There is approximately 45 staff split over the 4 Fund Accounting Trade Capture teams, offering a range of roles from AdministrationOfficer, Senior Administration Officer, Team Supervisor, and Section Manager through to Group Manager. Job Purpose: The Fund Accounting Bank Loan team is a combination of multiple internal functions that services the full life of a corporate bank loan that is held by a BNYM client for accounting purposes. Our remit is to service loan trades that a client purchases. We are responsible for reflecting all daily interest that has been accrued, as well as processing any underlying transactions that affect the value of the fund. We also perform multiple checks againstcustody reports to also confirm that the loan is being correctly process across custody and the bank as a whole. Responsibilities: (Key parts to the job role)

• Process trades into Accounting Platform:
  • Process daily interest accrual
  • Prepare principal paydown transactions
  • Process cash activities posted by WSO in accounting system to reflect open receivable or payable.
  • Process Restructure Events based on taxability (based on client direction).
  • Prepare trade cancel/rebook for settlement date based on client instruction
  • Process and clear all cash activities associated with:
• Reference Data Communication
• Provide WSO Weighted Average rate to Security Master Utility to update term loan rates for amortization purposes. Method of rate calculation will be based on a blended contract methodology.
• Paydown processing :
  • As the Trade Utility Team, process term loan principal paydown trades. Trade date will be paydown date.
• Reconciliation :
  • Daily reconciliation of BNY Mellon holdings to WSO.
  • Complete maturity date reconciliation to WSO on a monthly basis and send updates to the Security Master Utility.
  • Investigate any exceptions in positions reconciliation and escalate when applicable.
  • Reconcile interest accrual in accounting system to WSO sub ledger reports.
  • On a daily basis, provide Matched spreadsheet to Cash Reconciliation Team (items which were cleared in accounting system and which match what custody posted).
• Other tasks:
  • Provide WSO reports to BNY Mellon Financial Reporting Department
  • Provide requested information associated with Bank Loan Utility to auditors.
  • Client specific tasks. *See client procedures.
  • Provided reporting to clients when applicable

What we can offer you:

• Exposure to major global financial institutions.
• A fast paced environment which offers ability to develop and progress within the company.
• Challenging, fun and supportive environment.
• 25 days holiday (in addition to bank holidays) plus opportunity to purchase up to 5 extra days.
• Highly competitive benefits package including pension and private medical cover
• City Centre location.
• Discounts on a range of local retailers.
• Opportunity for further academic training - including NVQ, IOC, Degree, and soft skills.
• Opportunity to join site wide network groups.

• The desired candidate should be enthusiastic, attentive to detail, flexible and have the drive to be successful while working in a dynamic and challenging environment.
• Strong communication and time management skills.
• He/she should be a team player, focused on consistently achieving both team and company goals
• Clerical skills with particular focus on accuracy, attention to detail, organisation and keyboard skills.
• Ability to learn quickly and to grasp the intricacies of complex over-the-counter (OTC) derivatives.
• Patience, perseverance and flexibility.
• Focused attitude to work, excellent individual and teamwork skills and an ability to consistently meet deadlines.
• Oral and written communication skills.
• Professional approach to work and personal appearance

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clientsand communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums. Employer Description: For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create,trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the worlds financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helpingclients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and morethan 100 markets. Its the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: careers.