Specialist - Investment Compliance Support Services
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Locations: Cape Town, Apex House
Time Type: Full time
Posted on: Posted 2 Days Ago
End Date: February 28, 2025 (30+ days left to apply)
Job Requisition ID: JR-0007293
The Apex Group was established in Bermuda in 2003 and is now one of the world’s largest fund administration and middle office solutions providers.
Our business is unique in its ability to reach globally, service locally and provide cross-jurisdictional services. With our clients at the heart of everything we do, our hard-working team has successfully delivered on an unprecedented growth and transformation journey, and we are now represented by over circa 13,000 employees across 112 offices worldwide.
Summary of the position
The Specialist: Investment Compliance Support Services is first and foremost the regulatory specialist in the Investment Compliance Support Services (“ICSS”) team.
The ICSS team reports both regulatory and bespoke mandate compliance breaches to clients daily on a post-trade basis and provides the functionality to our clients for monitoring breaches on a pre-trade basis as well, from NX Manager. The team also produces certain regulatory holdings reports to clients, run from the data warehouse, and enriched with data from both InvestOne and NXManager.
The role requires good knowledge/experience across the investment and operational cycle. The role largely entails the interpretation of both mandates and legislation/regulation to effectively translate the regulation into workable compliance rule results, upon which our clients depend for guiding their investment decisions within client mandates and prescribed regulation. The role will collaborate within the ICSS team and other relevant teams to ensure that the interpretation is successfully applied to both the NX Manager platform (enabling pre- and post-trade compliance) as well as the Compliance Reporting Warehouse.
In support of the above, the basis of successful compliance rule monitoring and reporting is the continual oversight on static and market data to ensure correct classification into regulatory rulesets. You will be required to perform data and issuer market capitalization checks and work closely with the Instrument and Fund Setup team to update and maintain static data integrity for investment compliance purposes.
Outline of main duties and responsibilities
- Assist with daily post-trade reporting and monthly compliance reporting (Reg28 and Reg30) and troubleshooting classification issues.
- Perform monthly preparation checks to ensure sound and consistent instrument and issuer classifications for monthly reporting.
- Continually clean static data to support daily monitoring and monthly report integrity.
- Support the efforts within the ICSS team in respect of interpreting and documenting legislative, regulatory and mandate compliance requirements.
- Document the interpretation of legislative or regulatory changes, in a manner which allows for these documents to be circulated internally at Apex or externally to clients.
- Assist the ICSS team in translating and applying the interpretations to NX Manager and the Compliance Reporting Warehouse.
- Monitor regulatory changes pending and appropriate planning for these changes, including client communications.
- Develop, code, and implement compliance rules to NX Manager.
- Continually review compliance rules to improve integrity.
- Follow proper test protocol in UAT environment and change control protocol of rules into the production environment.
- Be proactive in solution-finding and regularly question processes and “status quo’s” to constantly improve.
- Provide support to the Apex client base in respect of compliance related queries, including interpretation, breaches, reporting, etc.
- Build excellent rapport with clients in developing their confidence in our service offering, by understanding their requirements fully, and maintaining well-managed relationships to achieve the best results for the clients.
- Support the business development effort in expanding the Compliance Support Services function.
- Actively strive to live by and operate within the Apex core values.
- Drive and contribute to a culture of quality/excellence, through risk awareness and adherence to compliance standards and all relevant operational controls and processes.
Required Skills and Experience
- An accounting or business degree (minimum B. Com or equivalent) together with at least 4-5 years fund administration/management experience in a compliance related role.
- Certificate in Compliance Management.
- Strong numerical and analytical skills to review fund compliance reports in detail and respond to queries. The role requires excellent Excel skills to analyse portfolio exposures and structures and to determine and test required compliance rule output.
- Strong knowledge of the full investment process starting from the portfolio manager’s investment decision through operational process to client reporting.
- Strong knowledge and understanding of the regulatory investment limits dominant in the Republic of South Africa such as Regulation 28, CISCA, Regulation 30, and short-and long-term insurance investment limits and how various instruments apply to these regulations.
- Attention to detail and structured work approach.
- Excellent communication and negotiation skills, both written and verbal, as the ICSS team is dependent on downstream operations. The role requires confident interaction with all areas of the business in order to perform team tasks.
- Confident, self-motivated individual and able to work under pressure.
- Positive attitude.
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