Head of Reconciliations and Reporting - Investment Operations

About BII

British International Investment is the UK’s development finance institution, owned by the UK Government. With a mission to solve the biggest global development challenges, we aim to create a virtuous circle of investment and impact. Your contribution will be essential. 

It won’t be easy: we do the hardest work in the most complex markets. Be prepared to test your skills, get creative and say your piece as you take on high-profile work as part of a diverse team of exceptionally smart, passionate people. 

In return, you can take your career to all-new places in a culture that rewards curiosity and collaboration, and balances high performance with wellbeing.

BII at a glance

Over 75 years supporting sustainable business growth in developing and emerging markets

More than £8.8 billion in net assests

1,400+ businesses invested in

950,000 workers in the businesses we support 

650+ people in our diverse global team

3 key development objectives: Productive | Sustainable | Inclusive

Team and role overview

Purpose

The Investment Operations team is made up of two groups:

• Data Management – responsible for ensuring investment related data is appropriate, accurate and consistent. Responsible for implementation and development of the Data Governance Policy.
• Portfolio Administration – responsible for ensuring all transactions are processed in a timely manner and recorded accurately. Responsible for ensuring BII’s portfolio of investments is monitored for lifecycle events and administered effectively and efficiently.

We are creating a third group, Reconciliations and Reporting. This group will be responsible for conducting cash and stock reconciliations, and monitoring receipt and processing reporting due from investee companies, funds and borrowers.

The Head of Reconciliations and Reporting will establish and lead this group, reporting directly to the Head of Investment Operations.  They will lead on process improvements to ensure the team’s work is delivered in a controlled and efficient manner. They will also be a member of the Investment Operations management team, deputising for the Head of Investment Operations where appropriate.

Responsibilities

Team management

• Establish and manage the Reconciliations and Reporting team, initially comprising 1-2 team members based in London, with the potential to expand to 4 team members based in London and India
• Manage priorities and workloads for yourself and other team members, ensuring deliverables are completed on time and to a high quality
• Identify and implement improvements to existing processes, ensuring process documentation is thorough and complete

Reconciliations

• Ensure that cash and stock reconciliations are undertaken regularly and with appropriate governance, resulting in a reduction in number and aging of breaks.
• Work with teams across BII to identify common themes and propose solutions to improve the effectiveness and efficiency of existing reconciliations, including changes to existing reconciliation tools and booking practices

Investee reporting

• Establish or enhance systems and processes to monitor receipt of information from BII investee companies, funds and borrowers, including quarterly and annual fund reports, loan covenant reporting, and risk sharing facility utilisation. Develop reporting and escalation processes if information is late or incomplete
• Work closely with the Portfolio Administration and Finance teams to ensure that fund valuations (including look through reporting) are input accurately and in line with agreed quarterly reporting deadlines
• Monitor Funds that are at the end of their life and obtain updates from Fund Managers on anticipated end dates and any delays or issues arising
• Monitor receipt of post-trade documentation for investments in India

The candidate

Background, skills, aptitude

Essential skills and experience

• Experience managing a Reconciliations, Reporting or other Investment Operations function, with the ability to drive change and develop and implement solutions to improve processes and systems across the team
• Expert technical knowledge and expertise of key product attributes across product types, including applicable regulatory requirements
• Expert understanding of reconciliation and Portfolio Management Systems (ideally eFront) and ability to analyse and resolve discrepancies that may arise
• Ability to review, analyse and investigate queries relating to financial statements
• Ability to effectively communicate and prioritise workflow across the team based on MI and knowledge of business needs
• Ability to develop and maintain productive relationships with a range of stakeholders, and encourage ant support others to build relationships that facilitate the work of the team. Ability to effectively navigate and manage conflict
• Significant experience in handling complex issues, coordinating efficiently with stakeholders to develop solutions
• Expert ability to navigate excel to identify and gather relevant information and able to present data in understandable ways for senior audiences

Desirable skills and experience

• CISI Investment Operations Certificate (IOC) or an appropriate accounting qualification
• Experience working with emerging markets, particularly India
• Previous experience working DebtDomain or JIRA
• Experience managing a team across different locations and in a hybrid working environment
• Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity.

Our cultural values

We look for team members who aspire, as we do, to work at our best and to be:

• Impact-led, commercially rigorous
• Tenacious in the face of challenges
• Collaborative and caring

British International Investment is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background. 

Please provide a cover letter with your application

Salary: Competitive