Corporate Actions Specialist

Description

WHO WE ARE:

interactive investor is an award-winning investment platform that puts its customers in control of their financial future.

We’ve been helping investors for over 25 years. We’ve seen market highs and lows and been resilient throughout. We’re now the UK’s number one flat-fee investment platform, with assets under administration approaching £70 billion and over 400,000 customers.

For a simple, flat monthly fee we provide a secure home for your pensions, ISAs, and investments. We offer a wide choice of over 40,000 UK and international investment options, including shares, funds, trusts, and ETFs.

We also bring impartial, expert content from our award-winning financial journalists, highly engaged community of investors, and daily newsletters and insights.

WHAT WE STAND FOR:

It’s simple … we want our customers to feel confident and in control, for interactive investor to go from strength to strength, and for ii to be a workplace where we can all thrive. Our customer-driven approach and bold values sit at the heart of this. We are honest, straight-talking, and transparent with our customers and our colleagues. We are decisive and take ownership of what we say and deliver. We are ambitious and passionate about what we believe is right for our customers, our teams, ourselves, and interactive investor.

PURPOSE OF ROLE:

The UK and International Corporate Action teams sit within the Asset Maintenance area of Operations. Reporting to the Corporate Actions Manager, the role holder is responsible for key task validations, authorization and quality assurance administration and oversight of controls for the range of Asset Maintenance activities. Resolve complex client and employee queries, identify operational changes to increase efficiency, best practice opportunities and initiate action to maintain compliance in the regulatory environment. Completion and administration of risk management documentation and liaison with Enterprise Risk. Responsible for ensuring all CASS related activities and processes are completed daily to safeguard client assets and work closely with the Tax Team

We work in a fast paced, deadline driven high risk financial environment so attention to detail, efficiency, and accuracy is key.

The department has been well established in Manchester and is developing itself into a highly efficient and successful operation, providing first class service to our clients. This has been achieved through a strong focus on control, automation and people. We are looking for a dynamic and high performing team member to continue the positive progression of the area.

Requirements

KEY ACCOUNTABILITIES:

• Analysis and validation of incoming market announcements from data vendors, creation of the event in our systems ensuring compliance with CRS and MiFID requirements.

• Validation of set up and distribution of event notifications to customers and acting on client elections accurately by acceptance deadline.

• Maintain departments workloads, SLA’s and complete MI

• Provide effective Quality Assurance across key processes.

• Administer and maintain oversight of key departmental controls and reflect as necessary

• Ensuring corporate action entitlements are allocated to our customer accounts within SLA and subsequent post reconciliation tasks completed.

• Maintenance of the Dividend Reinvestment (DRIP) programme and daily adjustment of firm prefunding requirements for dividends.

• Use subject matter expertise to resolve complex or escalated queries ensuring positive client and employee experiences.

• Processing of cross border events to ensure final settlement in the resultant market/custodian. Communication with other market participants concerning the timely settlement of market claims.

• Make informed risk decisions and effectively and credibly debate and challenge recommendations within your role in line with the approved Risk Appetite Framework

• Ensure that Client Money / Asset reconciliations are processed accurately and daily

• Complex Reconciliations of Dividends and Corporate Action Events.

• Ensure reconciliation breaks are fully investigated in a timely manner, correct narratives in place and escalated when appropriate.

• Processing of IPO/ABB events including elections and entitlements, and processing VCT applications when received from customers.

• Liaise with external counterparties and agents / internal departments at all levels and external correspondents as required.

• Interact daily with Customer Services, handling all front office and customer queries in a timely and efficient manner to deliver a first-class customer experience.

• Interact with the Complaints team to provide full investigations of Corporate actions complaints.

• Complete department risk management documentation such as Risk Events and Regulatory Breaches and track delivery of subsequent actions including the necessary liaison with Operational Oversight

• Ensure procedures are up to date and provide technical coaching regarding revised procedures, systems enhancements or regulatory changes impacting the department

• Identify areas of risk/exposure within the department and devise appropriate mitigation measures

• Maintain the first line of compliance defence by ensuring individual adherence to business processes and procedures that are designed to meet the regulatory standards set out in the relevant FCA rules and guidance, with reference to CASS regulation.

• Completion of MEC.

• Completion of regular 1042 reconciliations and yearly reporting working closely with key stakeholders including operational tax department and international and UK Custodians

• Analysing operational processes, identifying and progressing opportunities for improvement.

• Assistance with ad hoc and scheduled projects as required

• System testing as required

• Managing of the team in the team managers absence.

• Coaching and training team members.

• Performs other duties and responsibilities as assigned

SKILLS & EXPERIENCE:

Essential:

• Proven 5 Years+ experience in a corporate actions or dividend role including the ability to complete end to end processing of events.

• Advanced analytical skills in order to interpret complex market, legal, tax, and company data relating to corporate events, dividends, tax

• Full understanding of FCA rules including CASS , MiFID, CRS reporting and Consumer Duty

• Full understanding of the financial and reputational risks associated with corporate action processing.

• Developing a strong and trusting relationship with key stakeholders and internal business units – another essential component of the role is dealing with ad hoc requests from a variety of different Business Units across the firm as and when they arise.

• Advanced ability to exercise sound judgement to make logical decisions and know when to escalate issues. Credibly debate and challenge processes within your role in line with the approved Risk Appetite Framework

• Effectively communicate; defined as communication that is direct, courteous, grammatically correct, clear, succinct, and business-like.

• Organise, manage, and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced environment.

• Advanced ability to coach the teams.

• Approaches all situations with positive outlook, energy and enthusiasm with resilience, drive, and initiative.

• Shows creativity and takes individual ownership for work quality and improvement

• Ability to be vocal and promote own ideas and solutions to colleagues of all levels.

Desirable :

• Degree in Business or finance related discipline or Level 3 IOC (CISI)

PERSONAL ATTRIBUTES:

STRAIGHT TALKING | MOVING WITH SPEED | OWNING THE OUTCOME

• Clear communicator

• Strong team player

• Demonstrated passion and drive for delivering the best outcome

• Moving with speed – delivering faster and better

• Decisive and take ownership of outcomes

• Not afraid to challenge and be open to challenges

KNOWLEDGE, SKILLS, EXPERIENCE REQUIRED:

Essential:

• Proven Corporate Actions experience gained in a custody or wealth management environment.

• Full understanding of the different types of corporate action event and their nuances.

• Working knowledge of equity capital markets, corporate finance and wealth management.

• Experience as a validator of corporate action events

• Relevant formal Industry qualifications (CISI IOC with Asset Servicing) If qualification not held, willingness to study is required

• Understanding of the regulatory environment and its impact on corporate actions, including the impact of MiFID II, CRS, and CASS.

• Knowledge of settlement rules of relevant UK and International markets.

• Understand the principles of Treating Customers Fairly

• Understand the key drivers of Client Loyalty within a retail environment

• Knowledge of JHC Figaro, SQL and Microsoft Excel macros

Desirable:

• Bachelor’s degree in a Business or Finance related discipline

• Experience in the application of continuous improvement methodology within an operational environment.