Revenue Accountant - Investment Management

  • GBP40000 - GBP50000 per annum + bonus + bens
  • London, England, United Kingdom
  • Permanent, Full time
  • Carnegie Consulting
  • 18 Feb 19

Revenue Accountant - Investment Management

Revenue Accountant - Investment Management

An opportunity has arisen for a Revenue Accountant at a well established, mid-sized multi strategy Asset Manager based in central London.

This person will be responsible for various accounting activities associated with the revenue streams of the business, including ensuring the calculation of income is in accordance with the fee agreements, rebates, distributions fees are calculated on timely basis, that accounts are accurate and relevant analysis supports the business needs.

Function of the Role

* Increasing the capability of Finance to monitor, record, comment and forecast revenues and related costs across the group, ensuring accruals, reconciliations and financial controls are effective at all times.
* Monitoring of changes in the terms and conditions of fee agreements and structures with clients
* Preparation, calculation, presentation and production of invoices for business entities ensuring completeness, accuracy and presentation are acceptable at all times.
* Preparation, calculation, presentation and production of Rebate and Distribution fee statements for business entities ensuring completeness, accuracy and presentation are acceptable at all times.
* Maintenance of the accounting records, AUM information, new business mandates, external rebates and Internal and External commission structures
* Provide ad hoc analysis and report for wider business and investment teams
* Prepare Group AUM and Flows report for wider business use including marketing, compliance and business development.
* Contribute in client take on process and review IMAs and distribution agreements

Main Responsibilities

Calculation of revenue streams for accruals and invoicing purposes:

* Calculate all fees (management, performance, other) due to group entities
* Record and communicate rebates and distribution charges to investors
* Prepare monthly revenue journals for group entities and cost centres (accrued income/sales invoices) for review
* Assist with ad hoc requests such as account analysis
* Maintain and enhance a rigorous process for recording income and ensure the SUN nominal and analysis coding is accurate at all times
* Using Revport (Revenue and Expense management solution), prepare all management fee invoices, rebate and distribution fee statements on a timely basis ensuring review and sign off are achieved
* Ensure up-to-date knowledge of sales contracts/client agreements/rate cards, etc, maintained
* Provide technical accounting input to new revenue arrangements and corporate structures

Management Reporting:

* Active involvement in monthly reporting and forecasting of revenue and related investor costs including full commentary and variance analysis as required by entities and group stakeholder
* Sensitivity analysis of management and performance on various factors for example markets, flows and fee rates
* Ensure Finance maintains as complete and accurate assets-under-management database as possible, liaising with other functions to improve process and records
* Forecasting commission's structure and liaison with HR and Business Development on agreements and agreed sales information
* Contribution to the annual budget process and five year plan for revenue streams and associated financials
* Provide ad hoc analysis and reports to wider business and investment teams

Other responsibilities:

* Support wider needs of Group Finance and regulatory reporting to provide input on balance sheet review and for regulatory large exposure monitoring purposes
* Prepare year-end accounting records for revenue-related balance sheet and profit and loss accounts and co-ordinate responses to audit queries
* Preparation of Group AUM and Flows report to support wider business needs and provide ad hoc reports to other areas of business including marketing, business development and compliance.
* Liaise with Legal, Business Development during client take on process and review IMAs and distribution agreements
Systems:
* Maintain Revport (Revenue and Expense management solution), highly flexible rule based fee engine that automates revenue and expense management across the business.
* Flag issues on a timely basis to other Finance team members as appropriate
* Review existing processes and procedures and recommend enhancements and new controls as appropriate.

Person Specification

* Ideally experience of asset management industry with involvement or understanding of fees, commission and principles of revenue recognition from clients and third parties
* Excellent grasp of general accounting fundamentals, double entry bookkeeping, accounts preparation and financial reporting
* Experience of working in a group/multi-business environment with multiple cost centres and clients
* Understanding of need for effecting financial control environment
* Experience of working as an accountant in a regulated environment
* Newly qualified and experienced Financial Accountant (CIMA/ACCA)
* Advanced Excel skills
* Experience and previous knowledge of Revport
* Systems knowledge (SUN accounts package)
* Thorough understanding of the principles and operation of financial controls and reconciliations
* Financial reporting and accounts preparation
* Variance analysis, reconciliation and management reporting
* Written report writing
* Basis understanding of the principles of VAT
* Confident, self starter, with ability to take the initiative
* Deadline and results focused