Associate - Economic Substance

About Waystone

Waystone is a leading asset-servicing solutions provider of institutional governance, administration, risk and compliance services to financial institutions. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone helps our clients structure, operate and grow through our expertise, innovation and digitisation, backed by the operational scale to support global expansion.

Waystone is seeking an Associate to join their fast-growing dynamic team.

The ideal candidate will have at least 2 years of relevant financial services experience in either Fund Administration, Accounting, Financial Reporting, or Auditing.

If you are a Fund Accountant/Auditor/Investment Analyst seeking a new challenge this could be the role for you!

Summary: The role will predominantly center around risk reporting for Cayman Economic Substance and ManCo clients, in particular the calculation of market risk analytics and monitoring of investment compliance limits. A sound knowledge of fund regulations, and an understanding of the environment that funds operate in, is essential to the role. Associate at Waystone is also an integral part of the team, working closely with the Executive Directors, Directors, Associate Directors and other employees to ensure client service delivery across business unit product lines. The incumbent shall be responsible for support functions including database maintenance tasks for client engagement files, Document Execution Form (“DEF”) workflow for client transactions, key regulatory projects and other support for quality client service delivery. They service and maintain relationships for a portfolio of clients in addition to providing administrative support to the Directorship team.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Administer holdings and market data in proprietary software systems to produce risk reporting.
• Record and escalate breaches in line with procedure to ensure records are accurately maintained in company logs.
• Provide and continuously update documentation and backup of all operational processes.
• Expand ownership of a set of funds in order to monitor risk exposure, handle client queries and develop expertise about particular investment strategies.
• Aspire to be proficient in problem solving and continuously strive to use own initiative to take ownership of the tasks allocated.
• Co-operate with colleagues in different locations and time zones.
• Exhibit competency working with Bloomberg and Microsoft Office.
• Participate in User Acceptance Testing (UAT) of proprietary software. Review and query existing methods and processes with the objective of making the team more effective and efficient.
• Participate in supporting clients through risk reporting. This must be done in a timely and accurate fashion, solving and escalating issues as they arise in the appropriate manner.
• Responsible for service, maintenance and development of client relationships for a portfolio of clients.
• Independently manage client document review and quality control of service level, including a 24-hour turnaround on all communications and timely saving of relevant information to Salesforce.

• Evaluate risk involved with each situation and prioritize time and risk levels appropriately.
• Demonstrate understanding of the operational risk associated with clients, including a complete understanding of all Policies & Procedures.
• Keep abreast of all industry developments and regulatory changes and assist in projects related to operational risk and compliance.
• Share key learning and knowledge lessons at team meetings.

• Managing the Document Execution Form (“DEF”) workflows for board resolutions, agreements and other transaction documentation prior to director execution.
• Attending Portfolio Management and Oversight (PM&O) calls and helping to manage the timely preparation of PM&O reports.

• Follow up appropriately with Associate Directors and Directors to ensure timely turnaround of documentation.

• Assist with the onboarding of new engagements across various product lines and ensure the process is completed in an efficient manner.
• Provide excellent customer service and independently liaise in a professional manner with fund service providers.
• Identify opportunities for cross-selling Waystone products.

• Take responsibility for entity status, regulatory and service provider information in Salesforce.

• Monitor the accounts receivable for portfolio of clients and escalate when necessary.
• Maintain professional interaction with internal and external clients in conversation and in emails. Ensure clients are phoned when communications are being prolonged by emails and appropriate phone notes are made.
• Arrange phone calls for the Directors and compile all necessary meeting materials (when required).
• When out of office, provide notes to Manager and coverage the day before leaving and complete the out-of-office checklist regarding all outstanding DEFs, upcoming meetings and any other pending matters related to client portfolio or regulatory projects.
• Foster a positive environment through open communication and willingness to work efficiently and effectively with others.
• Be able/willing to take on additional duties as and when required. Assist colleagues when capacity permits and notify Manager with availability.
• Manage and present tracking schedules at regular team meetings.
• Assist with the Economic Substance annual compliance cycle, including the preparation, review and submission of fillings.

REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education:

• Bachelor’s degree in finance/business/accounting or similar internationally recognized professional qualification

Preferred Experience:

• Minimum of 2 years of post-qualification financial services experience;
• Knowledge of investment funds, portfolio valuation and fund administrators’ reporting packs
• Some experience with the use of Bloomberg to assess fund liquidity, average traded volume and to analyze various risk-based metrics;
• Strong MS Office skills;
• Outstanding time management, organizational skills, oral/written communication skills, critical thinking and attention to detail is required;
• Must be able to work in a fast-paced environment including reporting and providing support to various members of the team;
• Strong working knowledge of hedge fund documentation and regulatory requirements;
• Ability to maintain high levels of discretion and confidentiality;
• Experience in onboarding new clients in an efficient manner; and
• Be highly adaptable and have impeccable oral and written communication skills across all disciplines

The salary for this role is paying upto €50,000 - $60,000 CAD

Pay Transparency Notice: The annual base pay is determined based on several factors, including work location, work experience, relevant education, and job-related skills. Other considerations may include certifications, specialized training, and the complexity or scope of the role.