To assist the build out of the global middle office within the Portsmouth New Hampshire office. Primarily, the Middle Office Associate will support the team by reducing and mitigating operational risk, assisting with the firms’ ISAE 3402 controls, including but not limited to vendor and service provider oversight, daily portfolio reconciliations, US trade support (matching, affirmation and settlement oversight), MI reporting, and assistance with the external research administration across the US business / firm. This role reports to the Director, Fund Administration.
- Member of an eight person Global Middle Office team with associates in both Portsmouth, NH and London
- Position is a U.S. based role in Portsmouth, NH supporting a Global Middle Office with additional team members in London
- Interact with over twenty custodian banks and brokers to assist in the settlement process for all fund transactions
- Assist with the trade support function (fixed income and equity) through to close of business (EST) using Omgeo CTM and Bloomberg Trade Complete, ensuring exceptions are investigated and rectified with brokers and that SSI details and other static data are kept up to date in the appropriate database.
- Work closely with the global trading desk to ensure sufficient oversight of broker operations. Keep and present (Best Execution Committee) KPIs on brokers as applicable.
- Oversee the settlement of trades using custodian portals and Bloomberg Failstation, ensuring all trades are settled in the set timeframe. Initiate a project to set up broker fail reporting via Bloomberg Failstation.
- Assist with the oversight of spot FX agency trading and settlement.
- Responsible for ensuring all relevant equity and fixed income market accounts are open to trade in a timeframe as required by the investment team, tracking, and communicating with key stakeholders as required. This will include new mandate onboarding, as well as new market investments or products.
- Assist and control the operational delivery of relevant new funds, new market openings and share classes. Keep on top of key market changes.
- Assist with the preparation and oversight of fund financial statement reporting, including where relevant investor and fund tax returns.
- Ensure that all relevant service providers are delivering in line with their SLA requirements, and helping with the assessment of these entities on a periodic basis.
- Assist with the global external equity research administration, assisting with the calculation/setting of commission rates (collection), consumption tracking/rating, budget control, quarterly evaluation/feedback and client specific reporting.
- Responsible for completing and self-certification of all relevant ISAE 3402 controls; including NAV, position, cash and trade reconciliations. Responding to auditors and internal control in a timely manner.
- Ability to manage the fixed income and equity Corporate Action lifecycle within a buy-side firm, for equities and fixed income. Utilise available data sources to ensure that there is timely communication to the investment team and that the custodians/ book of records accurately reflect elected actions.
- Zero financial losses related to individual’s involvement with trade reconciliation
- Consistent month over month KPI statistical improvement
- Increased ownership of assigned responsibilities and be a bridge between Middle Office and Investment Management (trade desk and HY Bond traders)
- Greater than 5 years’ experience in financial services, ideally with a buy side asset manager, or Fund Administrator
- Technical IT skills to compliment the role including advanced level excel as well as working knowledge of Bloomberg AIM and particularly Omgeo CTM
- Global securities understanding including equities, fixed income and spot FX
- Knowledge of the full trade lifecycle, including experience in trade matching and settlements
- NAV, position, trade and cash reconciliations
- Corporate action management
- Demonstrated ability to enhance efficiencies and automate workflows where applicable
- Ability to liaise and oversee various service providers and vendors
- Exhibits functional expertise and technical credibility
- Interacts effectively with others, manages business accounts and relationships
- Manages self, works productively and drives results
- High degree of personal integrity, trustworthiness, and ethical standards
Impax Asset Management LLC is the North American division of Impax Asset Management Group and investment adviser to Pax World Funds. Impax is a specialist asset manager with approximately $34.5 billion in both listed and real asset strategies that focuses on the risks and opportunities arising from the transition to a more sustainable global economy. Impax believes that capital markets will be shaped profoundly by global sustainability challenges and that these trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt. The firm offers a suite of sustainable investment solutions across multiple asset classes, all of which seek to invest in the transition to a more sustainable economy. Impax Asset Management LLC launched the first sustainable mutual fund in the United States in 1971.
The firm is headquartered in London, England with offices on both coasts of the United States (Portsmouth, NH, Greenwich, CT, and Portland, OR) as well as Hong Kong and Dublin, Ireland.
We are committed to high standards of corporate social responsibility, both in our investment approach and in the way we try to conduct our own business. We prioritise goals in equity, diversity and inclusion in our work environment. Women and members of underrepresented groups are encouraged to apply for this position.
For further details, please visit our website: www.impaxam.com
Values Focus/Aligned Attributes:
- Be the solution
- Passion for excellence
- All voices heard
- Doing better together
- Building a common Future