Reconciliations Executive, Investment Operations

3 weeks ago

London, United Kingdom British International Investment Full time

Reporting to: Head of Investment Operations

Location: BII plc, 123 Victoria Street, London, SW1E 6DE

Duration: 12 month fixed term contract

Our mission and objectives

  • British International Investment is the UK’s development finance institution, owned by the UK Government. We invest with the aim of solving the biggest global development challenges by investing patient, flexible capital to support private sector growth and innovation.
  • We have 75 years of experience successfully supporting the sustainable, long-term growth of businesses in Africa and Asia, and have recently expanded to invest in the Indo-Pacific and Caribbean.
  • We invest to achieve impact and a financial return which is then reinvested for more impact. Over the past five years, we have committed £7 billion of new investments, with our net assets growing in value to approximately £8.1 billion. We are now invested in 1,400 businesses which directly employ over 950,000 workers and support many more. Over the next five years, we plan to grow further, and aim to commit around £9 billion of new investments over the period. 
  • Our current five-year strategy responds to the opportunities and challenges facing developing and emerging economies. To ensure our capital is used in the best way possible to meet these opportunities and challenges, it sets out three clear strategic objectives – to invest in productive, sustainable and inclusive development. These objectives mean an increased focus on climate finance, including investing in green infrastructure; on financing digital transformation; and on driving inclusive outcomes, including through gender and diversity finance.
  • We changed our name to British International Investment in 2022, to more accurately reflect our central role in the UK Government’s international financing offer.
  • In the last few years, we have expanded our presence in Africa and Asia by opening new offices in Bangladesh, Egypt, Kenya, Nepal, Nigeria, Pakistan, Ghana and Singapore; with further expansion planned.
  • We take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract, and mobilise other investors, and drive transformational impact.
  • Deliver impact. We are a team of over 600 and place immense value on diversity within our organisation.
  • Read more about us and the strategy at bii.co.uk

Team and role overview

Purpose

The Investment Operations team is made up of two groups:

  • Data Management – responsible for ensuring investment related data is appropriate, accurate and consistent. Responsible for implementation and development of the Data Governance Policy.
  • Portfolio Administration – responsible for ensuring all transactions are processed in a timely manner and recorded accurately.  Responsible for ensuring BII’s portfolio of investments is monitored for lifecycle events and administered effectively and efficiently.

We are seeking an experienced Reconciliations Executive to review the target operating model and technology used to complete reconciliations, as well as supporting the Portfolio Administration team in conducting reconciliations.  This role will report to the Head of Investment Operations and work alongside the Portfolio Administration and Data Management teams.

Responsibilities

The primary responsibility (c. 50%) for this role is to develop a target operating model for reconciliations at BII, including:

  • Reviewing the reconciliations conducted by Investment Operations and elsewhere within BII
  • Completing a scoping exercise to confirm what reconciliations should be completed and how frequently
  • Investigating and recommending technology solutions to facilitation the completion of reconciliations
  • Defining roles and responsibilities, including governance and oversight
  • Defining resourcing requirements to support the target operating model
  • Defining management information requirements
  • Working with stakeholders across BII to ensure their requirements are understood and taken into account in the development of the target operating model

In addition, the role holder is expected to:

  • Conduct cash and share reconciliations, on a rota with members of the Portfolio Administration team (c. 25%)
  • Identify and implement tactical changes to improve the effectiveness and efficiency of existing reconciliations, including changes to booking practices (c.25%)

The candidate

Background, skills, aptitude

Successful candidates will have a background conducting and overseeing the completion of transactional reconciliations, as well as familiarity with different technology solutions.

Essential skills:

  • Strong attention to detail and analytical skills to investigate reconciliation differences, and identify the appropriate individual or team for resolution
  • Expert knowledge of reconciliation systems and how they interact with other systems
  • In depth technical knowledge and expertise of key product attributes across product types including applicable regulatory requirements
  • Significant experience in resolving complex issues, coordinating effectively with teams across BII
  • Ability to develop and maintain productive relationships with a range of stakeholders
  • Ability to effectively navigate and manage conflict
  • Expert ability to navigate Excel
  • Ability to develop solutions and build support to improve processes across the team

Desirable skills:

  • Understanding of Portfolio Management Systems (ideally eFront), experienced in understanding complex transactions and ability to resolve discrepancies that may arise
  • Ability to effectively communicate and prioritise workflow across the team based on MI and knowledge of business needs
  • Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity.   

Our cultural values

We look for team members who aspire, as we do, to work at our best and to be:

  • Impact-led, commercially rigorous
  • Tenacious in the face of challenges
  • Collaborative and caring

British International Investment is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background. 

Please provide a cover letter with your application

Salary: Competitive

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