Looking for B.Com Freshers
Banking, Reconciliations & Control (BRC) is responsible for the receipt and payment of monies to / from investors / intermediaries and the reconciliation of cash and stock positions for Fidelity’s European based funds and Funds Network fund supermarket business. In addition, BRC includes the processing of fund distributions, tax & interest accrual processing and various other control related activities for Business Operations.
Bank Reconciliations as a team is responsible for the daily reconciliation of the Client Money and Settlement Bank Accounts within the regulatory timeframe. They are also responsible for the daily reconciliation of various client money and corporate ledgers. Reconciliation is performed on multiple systems i.e. GFAS, Autorek, Composer and Sonata. A delay in the reconciliations may lead to regulatory breaches and may not reflect a true and fair view of the financial statements of the company. The team plays a key role in the delivery of month end and financial year end from a reconciliations perspective by working closely with Finance team. The team is also involved in liaising with multiple teams across various locations for resolution of reconciliation discrepancies
Contract length: 6 months
· Sound understanding of Fidelity Products & Services including UK / Europe business area’s for which he/she is responsible for providing services to client.
· Awareness of current FCA CASS including awareness of TCF and seven customer principles.
· Having a sound understanding of the systems used in reconciliations & settlements (Autorek, JDE, Sonata, Composer etc)
· Daily reconciliations of all bank accounts and control ledgers, including automated and manual reconciliations by understanding the end customer impact.
· To update and maintain the ledgers along with appropriate reasons for outstanding items over a set period.
· To create correcting journals / cashbook keyings for reconciliation purposes.
· To investigate & follow up on outstanding items with other departments within BRC (Cashmatch, CBU, Controls & Settlements, etc) as well as other departments in UK, Luxembourg, Germany, Hong Kong, etc.
· Money movements across Client and Settlement Bank Accounts to address any shortfalls/surpluses and avoid potential breaches.
· Produce and work on relevant M.I reports related to reconciliations and ensuring to publish the same in a timely manner.
· Testing related to health checks of various systems related to reconciliations.
· Ability to effectively identify and escalate any failure in the upstream processes effectively.
· Having a sound understanding of the potential risks within the process and controls around the same.
· Identification and addressing potential shortfalls / surpluses in client money accounts and ledgers to avoid Client money issues and assisting the supervisor in developing necessary controls around the same.
· Have a sound understanding of the money flows between different bank accounts.
· Produce meaningful M.I highlighting the key trends and overall health of the process.
· To be involved in testing prior to any system release.
· To suggest and work on process improvement idea’s and drive them in collaboration with other team members.
Job Types: Part-time, Contract
Salary: ₹25,000.00 – ₹33,000.00 per month
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