Reconciliation Specialist null

Job Description:

The Reconciliation Specialist is responsible for the daily cash and transactions reconciliations between internal books and the custodian, providing treasury with opening balance adjustments, and completing monthly holdings reconciliations between the internal and external records. They also provide monthly reporting of discrepancies to securities accounting and treasury.

Overview:

MBPS is officially registered as Manulife Data Services, Inc. but with an official trade name of Manulife Business Processing Services. MBPS is a Global Shared Service Centre providing Operations Administration, Finance & Investments, Contact Center, Claims, New Business and Underwriting, Actuarial, Legal & Compliance and Digital Information Services to Manulife Companies around the world. MBPS is headquartered in Quezon City, Philippines. MBPS has approximately 4,600+ employees across Manila, Cebu, and Chengdu (China).

We are a Global Shared Service Center for Investments and Finance consisting of highly motivated and experienced professionals committed to excellence in customer service. Our customers include Business Units across the group in Investment Division and/or Finance Functions. MBPS Investment and Finance has approximately 420+ FTEs across Manila and Cebu.

Manulife's Investment Division manages the Company's General Fund on-balance sheet assets and through Manulife Asset Management, manages assets for institutional clients and investment funds in key markets around the world. Manulife Asset Management also provides investment management services to affiliates' retail clients through product offerings of Manulife and John Hancock. The Division manages a broad range of investments including public and private bonds, public and private equities, mortgages, real estate, oil and gas, infrastructure, timberland, farmland and asset allocation strategies. The Division has physical presence in key international financial centers, including the United States, Canada, Hong Kong, Japan, the United Kingdom, and throughout South East Asia.

Role and Responsibilities:

The Reconciliation Specialist will be responsible for efficient reconciliation of General Accounts investment portfolios and provision of investigative support to related business units and Portfolio Managers. This includes timely and accurate comparison of security position, cash balance and cash transaction with custodians. Establish and maintain cordial relationship with various stakeholders including internal and external parties.

The Reconciliation Specialist is also responsible for the administration of the assigned investment portfolio activity including:

Reconciliation of cash balances and cash transactions across all portfolios Reconciliation of securities holdings across all portfolios Involvement in problem resolution and investigations with custodial banks and various internal counter parties Timely investigation and response to internal client inquiries Work with other departments within Investment Division to assure all outstanding items are cleared in a timely manner Maintain daily and monthly reconciliations filing with proper back up documentations Work closely with Manager/Analysts on escalation of aged items as per team standards Work within existing procedures and processes ensuring clear and concise documentation is created and maintained as such procedures and processes evolve over time Remain familiar with relevant securities industry developments specifically those impacting the activities of assigned portfolios and/or internal clients and custodial service provider Exercise initiative to assist department management in review and analysis of established procedures and processes, making recommendations to ensure that efficient and flexible service is provided to clients at all times Provide assistance to other team members and management team when required Adhere to and reinforce established SOX documentation Participate in inter-department cross training to ensure continuity of service Additional duties as assigned Sign off all daily reconciliations to meet deadlines stipulated in Service Level Agreement

Knowledge/Skills/Competencies/Education:

• Bachelor’s Degree related to Investment and Finance, Accounting, and similar fields with minimum 2 years work experience in reconciliation in a banking or securities administration environment
• Knowledge of securities instruments/settlements, foreign exchange and derivative instruments and/or settlements and banking processes
• Thorough knowledge of complex securities would be an asset
• Investment accounting knowledge
• Computer literate with proficiency in Microsoft Office applications
• Knowledge of back office accounting systems such as internal investment system, custodian reporting systems, Bloomberg, and Reconciliation systems would be an advantage
• Client focused with the ability to understand the requirements of clients
• Good problem-solving skills
• High level of accuracy, and attention to details
• Ability to react quickly and meet tight deadlines maintaining accuracy and thoroughness
• Excellent English skills, both oral and written, with strong comprehension skills to effectively communicate with internal and external parties
• Demonstrate initiative and team player
• Ability to adapt to changes, and set priorities
• Must be willing to work Night Shift