Graduate Middle Office Analyst

  • Man Group
  • London, UK
  • 26 Apr, 2018
Graduate Hires Asset Management Compliance / Legal Operations Research / Reporting

Job Description

About Man Group

Man Group is an active investment management firm focused on delivering performance and client portfolio solutions through its five investment management businesses: Man AHL; Man Numeric; Man GLG; Man FRM and Man Global Private Markets.

Man Group's investment management businesses provide long-only, alternative and private markets products on a single and multi-manager basis, leveraging the firm's robust infrastructure to provide a diverse range of strategies across investment approaches, styles and asset classes.

The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange under the ticker EMG.L and is a constituent of the FTSE 250 Index. As at 31 December 2017, Man Group's funds under management were $109.1 billion.

Man Group also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.man.com.

About Man GLG

Man GLG is a discretionary fund manager offering absolute return and long-only strategies across asset classes, sectors & regions. The firm was established in 1995 and acquired by Man Group in 2010.

Man GLG's culture is based on fostering leading investment talent within a collaborative environment and its portfolio managers are unconstrained by a house view.

The majority of Man GLG's over 130 investment professionals are based in London, and it also has investment teams in New York, Hong Kong, Tokyo and Pf ffikon. As at 31 December 2017, Man GLG's funds under management were $35.0 billion. Further information can be found at www.man.com/glg.

Purpose of the role

The Middle Office Accountant is primarily responsible for assisting Asset Managers by providing review/analysis of fund profit and loss accounts and calculating the Net Asset Value (NAV) of funds. They are responsible for highlighting potential operational or valuation issues to the Asset Manager.

In addition, this role will provide the opportunity to be involved with the oversight of a number of external Service Providers to whom Man have outsourced functions, including cost/performance analysis and co-ordination between Man/the Service Provider across a variety of different roles and projects.

Specific responsibilities

Fund Accounting & Valuation Control:

  • Using the firms systems and other available tools (Bloomberg/Vendor data etc.), on a daily basis review and analyse fund profit and loss accounts across asset classes, in order to assist reporting performance to Asset Managers
  • Calculate Net Asset Value (NAV) of funds on a daily, weekly and monthly basis including checking accrued income and expenses. Provision of intra-NAV estimates to the Asset Managers when requested
  • Liaise with the fund administrator/s to reconcile final fund NAVs
  • Review foreign exchange exposures and report to the Asset Managers, highlighting any currency hedging requirements
  • Review reconciliations between Custodians, Prime brokers and GLG's internal records, co-ordinating investigation and/or correction of breaking items where require
  • Provide ad-hoc reports to the Asset Managers and senior management regarding performance and historic trading analysis
  • Attend meetings with administrators and pricing committees
  • Ensure the quality and effectiveness of the pricing governance and controls are maintained through identification and mitigation of pricing risks and the communication/documentation of any enhancements to the framework
  • Apply technical understanding to securities pricing across the GLG business
  • Review existing systems / processes / procedures and MIS to identify areas of possible enhancements
  • Represent the team on wider Man projects such as trading system enhancements and regulatory change integration
  • Support new business, transitions and migration projects both internally and with external Service Providers
  • Assist with the monitoring and oversight of functions outsourced by Man to a range of Service Providers, including tracking relative performance and costs, highlighting exceptions to senior management helping to inform future decisions
  • Involvement in the production and consolidation of updates to the Fund Boards on a Quarterly basis

Technical competencies

  • Degree level education in a numerate or financial discipline required
  • Qualified / part-qualified with a relevant professional body (CFA/ACA/CIMA) preferred
  • Background from a Tier 1 Bank strongly preferred
  • Relevant experience in Product Control / Operations / Accounting (auditing of funds)
  • Proficient in use of Excel and MS Office required
  • Project delivery experience
  • Communication, organisation and presentation skills together with the ability to confidently deal with multiple senior stakeholders
  • Capable in chairing and presenting meetings; recording, co-ordinating and tracking actions

This role presents an exciting opportunity for someone looking to take their career to the next level. A progressive remit, broader than a normal IB product control role, with significant responsibility beyond accounting aspects. The successful candidate will have strong and frequent involvement with the core business to inform and influence on a range of commercial decisions, projects etc. For the right candidate, there will also be the chance to step up and gain people management skills.

Work-Life Balance and Benefits at Man

Man Group is committed to providing the best working environment possible for all its employees and, as such, we support professional training and development as well as requests for flexible or part-time working.

Man Group also supports many charities and initiatives through the Man Charitable Trust, which aims to create positive change by supporting charitable organisations that focus on raising levels of literacy and numeracy in the UK and by offering employees opportunities to invest their time and expertise in charitable initiatives. Employees are offered two 'ManKind' days of paid leave per year that can be used as part of the Man Charitable Trust's community volunteering programme or in support of any other charity/not-for-profit organisation.

We offer our employees a comprehensive benefits package, including private medical cover, discounted gym membership, on-site health assessments and on-site flu vaccinations. To support our employees' extracurricular interests, we have a music room with a piano and guitars that can be booked by anyone, and we also offer lessons on-site.

Man Group employees receive a daily food allowance, which can be used in our staff restaurant. The restaurant has several theatre-style cooking stations, a sandwich bar and a coffee shop (all of which can cater to special dietary requirements), and free fruit is available from the kitchens on each floor. We also have a subsidised in-house bar and an employee discount scheme with a wide range of discounts, all of which help us to ensure that the firm is a great place to work.

In addition, Man Group sponsors the Man Booker literary prizes and hosts several internal events with the authors to celebrate these awards. The prizes underscore Man Group's charitable focus on literacy and education and together with the wider charitable activities of the Booker Prize Foundation, the prize plays an important role in promoting literary excellence on a global scale that the firm is honoured to support.