Fiduciary Client Manager

• Primary Location: United Kingdom,Scotland,Edinburgh
• Education: Bachelor's Degree
• Job Function: Product Management
• Schedule: Full-time
• Shift: Day Job
• Employee Status: Regular
• Travel Time: No
• Job ID: 19013531

Description

Job Background and Context

The role will report to a Senior Fiduciary Client Manager within Citibank Europe plc. (CEP) UK Branch. CEP provides Trustee and Depositary related Fiduciary Services to UK regulated and unregulated investment funds and is a part of the Global Funds Services business. The position will be based in Edinburgh.



Job Description

• Work as part of the UK Fiduciary team that manages fund clients
• The oversight of Fund Administrators, Managers and Transfer Agents in order to ensure that funds to which CEP UK are the appointed Depositary are managed in accordance with regulatory requirements.
• Work with Citibank Europe plc Poland (CEPP) Trustee operations acting as service provider for the NAV review process, investment restriction monitoring, daily banking and other processes in accordance with the PLSD / ICSA and approved procedures.
• To ensure CEP's fiduciary duties are appropriately discharged and the liability for UK funds is understood and contained.
• To ensure a consistent EMEA service and product offering is delivered and where required developed for existing and potential fund clients.
• The position exists to protect interests of investors in funds and to ensure Citigroup's franchise and reputation is safeguarded with the appropriate regulatory bodies, mutual funds market and client base.


Key Responsibilities

Fiduciary Oversight

• Ensure all CEP regulatory obligations to discharge our regulatory responsibility are fulfilled on an on-going  basis, i.e. regulatory breach reporting, daily banking, 3rd party assets register, valuation reviews, on-site inspection visits to fund functionaries, periodic reporting to clients etc.
• Work with service Provider CEPP on any query escalations they refer in connection to  NAV reviews, periodic reviews and daily banking etc., and provide training to them where required   
• Overall responsibility for the execution of investment and borrowing monitoring checks for designated funds, monitoring all relevant aspects of investment management activity, including securities lending, OTC / exchange traded derivatives and third party held assets, to ensure adherence to regulatory requirements.
• Interaction with clients in respect of breaches and price errors
• Manage the flow of data received by/from internal support teams to ensure that relevant and timely information is provided to clients and their associated service providers. Work with internal support teams and external parties to resolve any outstanding client issues.
• Work with relevant parties to ensure in-specie transactions are executed in a timely and accurate manner.
• Responsible for daily cash flow monitoring processes in line with AIFMD requirements working in conjunction with service provider CEPP   
• Verify asset title of all assets held outside of custody
• Maintain an up to date inventory of AIF assets

Onsite Inspection visits of fund functionaries

• Conduct risk evaluation of funds in accordance with established Risk Ranking methodologies.
• Plan and execute onsite inspection visits to managers, administrators and transfer agents who are appointed for funds where CEP UK acts as depositary (or pre appointment).
• Issue internal and external reports where required on any issues that have arisen form the visit.
• Identify, report and track all findings to resolution
• Attend board meetings with the Senior FCM when required
Client Management

• Work within a team of Fiduciary specialists whose core objective is to provide an excellent Trustee and Depositary service to customers on a day-to-day basis, acting as primary contact for specified clients in all fiduciary matters. 
• Prepare service level agreements for client and ensure that agreed service levels are met, and any issues identified are escalated to the relevant parties and followed through to resolution.
• Attend client fiduciary meetings
• Prepare the service level agreement for clients
• Support the implementation of new business
• Provide information required for reports and accounts



Administration - General

• Account opening and maintenance
• Fiduciary Database Maintenance
• Maintenance of all client documentation to ensure up to date 
• Complete and monitor Procedures Manual for immediate area of responsibility



General

• Engagement in projects and additional tasks as requested by Senior Fiduciary Manager

Qualifications

Knowledge/Experience:

• Extensive years Fiduciary or other compliance or financial services related experience.
• Experience of successfully interacting with clients at all levels of seniority up to and including Director.
• Strong knowledge of Regulatory Framework surrounding UK and EMEA funds industry.


Skills:

• Strong numeric / financial analysis skills with particular ability to analyse Fund Valuations, Accounts and Custody MIS.
• Strong knowledge of all MSOffice Suite of applications (Word, Excel PowerPoint).
• Strong knowledge of Trustee/Depositary Standards and procedures.
• Strong knowledge of Citigroup and other Investment Bank product offerings.


Qualifications:

• Relevant Funds industry qualifications


Competencies

• Integrity.
• Strong team working ability
• Ability to multitask with attention to detail.
• Excellent communication skills both oral and written and confident in dealing with customers and internal parties at all levels
• Strong knowledge of Trustee/Depositary Standards and Regulatory responsibilities.
• Displays confidence in dealing with customers and colleagues and puts forward opinions clearly and unambiguously.
• Self-starting, idea generating, able to show initiative and manage deliverables from start to finish.
• Strong and proven presentation and negotiation skills.
• Experience working with database systems
• Project Management skills.

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Valuing Diversity:
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.


Citi is an Equal Opportunities Employer