Asset Servicing & Unit Pricing Projects Manager
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.
The role is based in the Investment Operations team and is a role that is part of a newly formed team dedicated to representing the Asset Servicing and Unit Pricing team on major projects. The team works alongside the Asset Servicing & Unit Pricing team within Investment Operations, which provides professional Investment Services to multiple clients in respect to Assets under Administration.
This position is being recruited as a 12 month fixed term contract or internal secondment.
Please note that this position will be subject to SMCR checks.
This role formally reports to the Operations and Process Improvements Director with a matrix reporting line to the Asset Servicing & Unit Pricing Manager. The role has direct line management responsibility for an Asset Servicing Projects Specialist. The role is responsible for working with the Asset Servicing Projects Specialist, the Asset Servicing Supervisor, Fund Pricing and other subject matter experts allocated to projects from operations teams to own the delivery of investment operations project work in a manner which is fit for purpose, timely, accurate and minimises unplanned resource impact on Asset Servicing and Unit Pricing BAU resources. The person performing the role should have a strong understanding and practical experience of Fund NAV/Pricing and Asset Servicing in the context of unitised and non-linked funds along with previous line management and resource management experience.
The role holder will not be asked to support BAU activity, but the Asset Servicing & Unit Pricing team responsibilities include but are not limited to -
• Sourcing, validating and processing into the investment systems -
o Corporate Actions (Capital Events)
o Income Events
o Asset Prices
o Exchange Rates
o Asset Data for new asset setups as well as changes to existing assets
• Bloomberg AIM asset position reconciliations
• Solvency II data sourcing and validation
• Daily calculation and validation of Unit Prices for c. 380 UK Life and Pension funds.
• Daily collation of policyholder cash flows for all funds and production of a summary cash flow movement report for the front office to make appropriate market trading with those inflows/outflows.
• Daily bank reconciliations between custodian and the investment system.
• Monthly tasks such as asset reconciliations, MI and data summaries to other teams and departments.
The role will primarily be working on large Company driven initiatives and small change projects. The focus of the role is initially supporting phase 1 of the transition of the in-house fund administration and accounting services between the ICON and Multifonds systems. This is achieved through application of Asset Servicing, Fund Pricing/NAV and Fund Administration knowledge and skills in the context of fund administration of unitised and non-linked funds to help the AS & UP projects team and operations SME's to design, test and implement new business processes, progress the operations area through business readiness criteria and perform a key support role for a period of time once the new operating model goes live on the Multifonds system.
There are subsequent phases to deliver the optimum operating model on the Multifonds system by working through a "day 2" list of further functional deliveries and efficiencies.
Desired Knowledge / Experience / Skills
Relevant Financial Services, Asset Servicing and Fund Pricing/NAV experience and knowledge pertaining to these functions and their processes in a Fund administration environment.
Experience of taking responsibilities for managing a pool of resources efficiently and effectively either in an operational or project environment.
Experience of working with the Multifonds, ICON, Bloomberg AIM/terminal systems or similar as well as experience/working knowledge of Collective Investment Income from a Life/Pension fund perspective would be beneficial.
An excellent communicator that is proactive as well as an effective team player.
Ability to work accurately and effectively in a pressurised project environment.
Ability to work collaboratively and independently, being proactive in using initiative and demonstrating commitment to getting the job done and take personal responsibility for the delivery of results.
A driven and logical approach to managing issues and solving problems is required.
It is expected the successful candidate will be able to understand and apply new processes quickly and effectively as well as identifying how the process fits into the wider process.
Qualifications Requirements (Essential)
5 GCSE's A-C including Maths and English (or equivalent).
Holder of the CISI Investment Operations Certificate (or equivalent).
Qualifications Requirements (Ideal)
Additional CISI Investment/Operations related qualifications/exam passes or equivalent e.g. IMC.
Accounting Qualification. What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development. Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences