The Custody Account Management team is dedicated to providing a premier level of service to the 3rd Party Asset Manager (3PAM) and New Zealand Custody (NZC) client relationships of BNP Paribas Fund Services.
The 3PAM that we deal with are appointed by our contracted Custody Clients.
The provision of outsourced solutions to domestic 3PAM’s and NZC’s is one of BNP Paribas Fund Services primary target market segments.
3PAM’s are recognised as being key influencers in the market providing feedback to our current clients with respect to existing service levels, to potential clients as a point of reference and to the industry in general through their responses to industry wide surveys and conferences.
The Account Management team is responsible for all aspects of service delivery and relationship building for our 3PAM and NZC clients.
This broadly covers all portfolio cash and securities reporting (including any customised reporting), reporting of failed and settled transactions, overseeing all cash and securities related transaction processing (and the subsequent settlement of these transactions through our agent bank network) and the key point of contact for enquires (fails, corporate events, income, accounting enquiries etc.).
All non-custody related transactional flow and query management are managed through the Middle-office Services team.
The Account Management team also works closely with the NZ Client Implementation Manager to assist with Client Transition activities, along with managing Market account opening and Global Tax documentation requirements.
Summary of role
The NZ Custody Account Manager position has two distinct responsibilities.
The first responsibility is to manage a group of New Zealand located 3rd party asset managers and NZ Custody Clients
To provide them with a single point of contact for Custody within BNP Paribas.
To resolve issues and build trust and confidence with these 3rd party asset managers in the BNP Paribas organisation encompassing all business lines and locations.
The NZ Custody Account Manager is responsible to achieve fully referenceable relationships with all of its managers.
The NZ Custody Account Manager is the point of contact between the Investment Manager and all internal stakeholders, for Investment Manager’s custody needs.
Custody transaction processing is completed by the Custody teams in India and Sydney, but awareness of transactions is required by the NZ Custody Account Manager.
The role has accountability for BNPFS’s NZ custody offering, including the following :
Day to day management of client custodial relationships ensuring that the highest levels of satisfaction possible are achieved
Daily query and issue resolution relating to custodial operations for New Zealand Clients and New Zealand 3PAM’s.
Ensure that clients and 3PAM’s expectations are managed and delivered in line with requirements and timescales.
Working with internal teams to ensure the 3PAM and NZC requirements are effectively represented
Oversight of NZD custody reconciliation breaks
Resolution of internal queries and issues, including non-receipt of funds, Auto-FX and unadvised credits.
Ensuring BNP Paribas internal policies and controls are not compromised.
Back up and cross cover other team members in times of absence.
Follow the procedures of the team and escalation when there are gaps or processes not able to be completed.
Contribute to product / service development initiatives.
Develop and maintain a large network of contacts both internally and externally to assist with issue resolution
Qualification / experience
A minimum 5 years commercial experience in financial services and recognised as a technical expert in securities services who demonstrates effective client service.
Recognised as able to work effectively with other internal teams to improve service and resolve issues in a timely manner.
Has the ability to work cohesively and positively with colleagues and peers at all levels within the organisation. Communicates freely and openly both upwardly managing expectations and reporting on service delivery - and in assisting other Operations teams to deliver against their goals, where you can contribute.
Committed to ongoing personal development and being a part of a Custody team that supports each other and assists each other in information sharing and cross-training.
Solid knowledge of custodial operations within securities services and related operational risk and compliance requirements of the function.
Solid product knowledge in securities, their treatment and the corporate actions that stem from them.
Proven track record of working with both clients and asset managers up to a senior level and must demonstrate a clear understanding of the importance of the role 3rd party asset manager plays in an asset owner relationship
Proven track record of working within a client service and operational environment
Industry experience or professional qualifications relating to asset management or securities services Degree qualified in Business, Accounting, Economics or related discipline preferred Securities Institute of Australia or other relevant Post Graduate qualifications) welcomed but not essential).
Accountability - Committed to achieving the organization’s objectives. Demonstrates perseverance and is accountable for own actions.
Client Focus - Complete commitment to provide professional, intelligent and timely responses to our clients’ needs and to changes in the market
Communication - Oral : Expressing ideas effectively in individual and group situations. Adjusting communication style to match the needs of the audience.
Written : Expressing ideas clearly in all written documents. Using professional, appropriate language at all times, and adhering to the use of the BNPP Email Protocols.
Responsiveness - Adapts when facing new or unforeseen situations. Delivers on time the required service
Risk awareness - Adheres to the organization’s processes and procedures. Demonstrates a good understanding of compliance issues and implements work practices that minimize operational and reputational risk
Team Orientation - Works with the team and the broader organization towards shared goals and treats all colleagues and clients as partners
Technical / professional knowledge - Demonstrates a satisfactory level of technical and professional skills / knowledge in job related areas.
Keeps abreast of current developments and trends in area of expertise
Comfortable working and challenging at senior levels and in multiple locations
Innovation and initiation
Results and quality orientation
Organisation and attention to detail