At BBH, Partnership is more than a form of ownership—it’s our approach to business and relationships. We know that supporting your professional and personal goals is the best way to help our clients and advance our business. We take that responsibility seriously. With a 200-year legacy and a shared passion for what’s next, this is the right place to build a fulfilling career.
The Depositary Senior Representative will be expected to assist with the due diligence of the appointed delegates to the funds. They will also have responsibility for ongoing monitoring tasks associated with the depositary duties, such as asset safekeeping & supervision, cash flow monitoring and other oversight duties. The Representative will be assigned supporting tasks that will require them to be diligent and organized to gather information, to review and assess, and to assist with monthly and/or quarterly reporting.
Responsibilities:
1. Oversight duties
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Execute the Depositary’s Continuous Oversight & Monitoring Process. This includes the execution of an inventory of tasks, inputs & sources, frequency of reviews, monitoring thresholds and follow-up parameters, documentation standards and reporting requirements, and escalation procedures.
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Assist in the completion of fund specific reviews which includes elements of due diligence (valuation and risk management policy reviews as well as reviews of third-party transfer agents and administrators) and valuation/NAV calculation oversight
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Assist in the review of income distributions made on the funds that have been allocated to the Representative
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Review daily cash reconciliation reports received from the transfer agency
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Review failed trade reports in order to complete the timely settlement of market transactions oversight
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Assist in the follow-up of investment compliance active breaches that have been identified to ensure adequate and timely notification to Regulator
2. Cash Flow Monitoring
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Execute daily cash flow monitoring activities by gathering information and reviewing exceptions
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Manage the reporting/escalation of ‘significant’ and ‘inconsistent’ cash flow movements
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Escalate matters arising appropriately and in a timely manner
3. Asset Safekeeping & Supervision
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Gather and review break reports pertaining to reconciliations of cash, fund accounting versus custody, assets held in safekeeping at sub-custodians, and other assets (e.g., derivatives, bank loans, real estate, and fund of funds) in order to identify breaks/exceptions that exceed risk-based tolerance thresholds
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Gather and review documentation received in relation to recordkeeping and verification of ownership of real assets (real estate, private debt, private equity, fund of funds)
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Interact with other BBH departments on resolution of identified breaks/exceptions.
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Document break/exception follow up and resolution
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Escalate to Depositary management those items that are not being resolved completely and timely
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Assist in the review of asset inventory confirmations produced during fiscal year end audits of the funds covered by Depositary
4. Communication and Teamwork
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Verify that issues which are addressed through Depositary reviews are adequately resolved in a timely manner. Monitor the Depositary tracking tool to ensure all Depositary items are captured, worked on and escalated in formal reporting where required.
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Be a Team Player. Work together to understand our aspirations as a team and as individuals drive consensus. Adhere to ways of working, respect ideas and individuals, promote effective communication, be able to recognize his/her weaknesses, know limits and improve on these, show tolerance for others and their ideas, express ideas, be collaborate and open minded
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Contribute to building a strong Depositary Team, contribute to preparation of training materials, participate in interactive sessions with colleagues and clients, share knowledge, and promote Depositary within the Bank – focus on our clients’ pain points force and address these first
5. Process Improvement
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Gain an understanding of the big picture of how specific function impacts the firm.
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Participate in working groups dedicated to creating efficiencies to improve individual/team productivity initiatives
6. Risk Management and Control
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Ensure compliance to all depositary, and operational procedures – specific to the UCITS/AIFMD Regulations.
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Monitor operational issues and escalate for information or action as appropriate.
Qualifications:
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University degree (bachelor)
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2 years of relevant experience
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Demonstrates Microsoft Office skills (with emphasis placed on Excel proficiency).
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Ability to learn and adapt to new technologies and systems
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Ability to identify, escalate and resolve a problem.
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Ability to communicate professionally through effective verbal and written skills.
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Ability to manage time efficiently and effectively.
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Organizational skills and detail-oriented.
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Ability to work in a team environment.
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Ability to meet deadlines and work under pressure.
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Accounting or finance professional certification a plus
We value diverse experiences. We value diverse experiences and transferrable skillsets. If your career hasn’t followed a traditional path, includes alternative experiences, or doesn’t meet every qualification or skill listed in the job description, please do go ahead and apply.
About BBH:
Brown Brothers Harriman (BBH) is a premier global financial services firm, known for premium service, specialist expertise, technology solutions and partnership approach to client management. Across Investor Services and Capital Partners, we work with an enviable roster of sophisticated clients who make BBH their first call when they are tackling their hardest challenges. Delivering for our clients and each other energizes us.
We believe that how we do our work is just as important as what we do. We are relentless problem solvers who know our best ideas come from collective debate and development—so we are never possessive about our ideas. Every day we come together as a diverse community of smart and caring people to deliver exceptional service and expert advice—creating success that lasts. No matter where you sit in the organization, everyone is empowered to contribute their ideas. BBHers can pick up the phone and call any colleague, and they are happy to help. Expanding your impact beyond your daily role is part of how we operate as trusted partners to one another.
We believe stability is a competitive advantage, but being stable means having the knowledge, skill, and discipline to evolve, often—pushing the boundaries of innovation. As a private partnership, every investment we make is in the relationships, technologies, products and development we believe are in the long-term interests of our clients and our people. Our long-tenured leaders are experts in their areas and are actively involved in the day-to day business, taking the time to provide guidance and mentoring to build the next generation of BBHers. Because we know, our success begins with yours.
Go to BBH.com to learn more about our rewards and benefits, philanthropy, approach to sustainability or how we support you to thrive personally, physically and financially.
