Manager - ETF Operations
This is an intermediate level role responsible for ensuring that ETF transactions executed by market makers and participating dealers as well as processes relating to PCF file creation are promptly executed and processed accurately and in a timely fashion in coordination with the Securities Services fund operations team. The overall objective is to provide transaction and settlement services to ETF managers and managed by Citi as Fund Trustee and Fund Administrator. Responsibilities:
The candidate is required to have strong knowledge and extensive practical experience of the following core fund operational processes:
- ETF creation and redemption order processing for primary market
- ETF creation and redemption settlement arrangement, both in cash and in specie
- ETF units settlement arrangement with CCASS and Registrar
- Coordination with PDs, ETF Managers, Trustee, Registrar and CCASS in relation to the ETF orders for primary market
- Handling PD enquiries related to the ETF creation / redemption orders
- ETF rebalancing handling
- Corporate actions handling for ETF
- PCF file preparation, including reviewing the relevant component stocks, quantity and prices
- Reconciliation of stocks in the PCF file against the NAV
- Ensure client Service Level Agreement (SLA) and deadlines are met
- Monitor and research errors to ensure adherence to audit and control policies
- Resolve transaction services issues and use technical expertise & judgment to conduct complex analysis
- Assist with providing informal guidance or on-the-job-training to new team members as required
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
The candidate should also have experience in the following responsibilities of the ETF / fund operations:
- Review of ETF offering documents, prospectuses, operating memorandums and key fund documentation
- New ETF listing launches and implementation
- ETF migration
- Client change request management
- Client servicing and management
- Prepare periodic reporting for both external and internal parties
- Oversight and control management for domestic and outsourced functions
- Managing periodic client service review calls and due diligence visits
- Awareness of regulatory and industry changes and how it impacts the business & operations
The candidate should have strong knowledge of the full ETF trade cycle including other functions performed within the fund operational unit, as well as the responsibilities of the fund administrator, fund valuation agent and fund custodian.
The following aspects of the role are also important: People Management:
This role is for a people manager and in addition to managing the daily responsibilities of the team, the candidate will also be required to build an effective working relationship with and between the team members and to guide them in their tasks. Regular effective one to one sessions with direct reports are required and a planned approach to staff development is a key part of the role. Control Environment:
The candidate is expected to identify issues or inefficiencies within the team and to build a strong, controlled working environment, concentrating on error prevention and mitigation. Relationship and Network Building:
The candidate is also be expected to focus on building relationships with Citi's Securities Services fund operation's outsourced vendors and other Citi locations that perform tasks on behalf of the Hong Kong Securities Services operations unit, with the clients and other business partners both internally and externally. The candidate will act as the Securities Services fund operation's single point of contact for the vendor and sites performing fund operations responsibilities on behalf of Citi's clients, and will require strong skill sets and experience in respect of:
- Acting as key relationship and escalation point for the vendors/other Citi locations across all fund operations functions, taking end-to-end responsibility for the fund operations relationship.
- Manage change with these business partners to ensure a controlled change environment
- Engage in proactive added-value communication with vendors and other Citi locations, and conduct briefings within the fund operations unit to build awareness across the teams.
- Understand the requirements of oversight and control of 3rd party outsourced functions and the importance of adhering to regulatory obligations.
- 3-6 years of experience in a related role on ETF operations and management
- Knowledge of ETF / funds
- Effective verbal and written skills
- Effective communication and analytical skills
- Effective relationship management skills
- Expert level proficiency in Windows, MS Project, and MS Office Suite
In addition to a strong knowledge of fund operations and the funds industry as outlined above, the candidate also needs to display strong interpersonal skills, communication skills, people management skills and time management skills. The candidate also needs to be able to work independently on projects or sub sets of projects and effectively represent the Securities Services fund operations unit. The candidate should also be methodical and has excellent oral and written communication skills.
Due to the nature of the funds business and its operational functions, the candidate should have a strong regulatory background and understanding of the local regulatory requirements. Education:
- Bachelor's/University degree or equivalent experience
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - HK------------------------------------------------------
Time Type :Full time------------------------------------------------------
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