In line with the recent Alternative Investment Fund Managers Directive (AIFMD), Langham Hall has established an FCA approved depositary function, which provides depositary services to upwards of 80 alternative investment funds.
Duties and responsibilities:
Duties and Responsibilities:
- Administer depositary services for a portfolio of clients managing real estate, private equity and infrastructure funds
- Taking responsibility of all client deliverables and deadlines, organising work effectively for testing, reviewing and sign-off for key events, cash monitoring, risk assessment, asset verification, AIFMD reporting, client take-on, quarterly reviews and quarterly depositary reports.
- Undertake preparation or review of key event assessments including: subscriptions, drawdowns, acquisitions, disposals, distributions, terminations and others.
- Client relationship management including ongoing multi-channel communication such as face-to-face, telephone and email and leading client meetings
- Persevere with non-responsive clients to find alternative ways of working and solutions to aid timely delivery of information
- Updating billing schedules ahead of quarter / period-end for sub-team clients and chase any late payments
- Cash flow monitoring: preparation of high level reconciliations, analytical reviews and substantive testing of bank accounts.
- Safekeeping and verification of assets: verifying that assets and their economic benefit exist and are owned by the Fund. Maintaining an up to date inventory of all assets held by the Fund.
- Ongoing monitoring and oversight of the Fund and Fund Manager - ensuring controls and procedures adequate and are being adhered to, ensuring the fund is being managed in accordance with the fund documentation
- Develop a thorough understanding of AIFMD requirements governing the role of depositary and client activity as well as our regulatory status and permissions
- Train and supervise junior team members and be the first point of contact for analysts in all matters relating to core deliverables, escalating to senior line management as required
- Prepare and present internal training sessions in line with depositary training program
- Use management information to effectively distribute work in sub-team, prioritising accordingly
In addition to the duties listed above, the candidate may be requested to perform other ad hoc work from time to time.
Technical knowledge / skills required:
- Previous experience in auditing in the real estate / private equity industry would be an advantage however is not essential.
- Experience working in an internal audit / external audit / compliance / controls function is essential (ideal candidate would have 1 to 2 years of work experience from a top 10 audit practice).
- An understanding of the principles of control frameworks and risk management.
- Excellent attention to detail and an inquisitive mind-set.
- Ability to think laterally about the practical application of the AIFMD, particularly in relation to the verification of a diverse portfolio of assets.
- Ability to work in a small company environment with focused and hardworking individuals.
- Ability to plan effectively, with strong deadline orientation.
- Strong verbal and written communication skills.
- The candidate should be studying towards or willing to study towards a professional accounting qualification such as ACCA, or non-accounting qualification such as CAIA or CISI