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PSP Service Specialist

Momentum Investments - Centurion, Gauteng

Job Details

Permanent

Full Job Description

Introduction

Through our client-facing brands, Momentum Group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Group provides practical financial solutions for people, communities and businesses. Visit us at www.momentummetropolitan.co.za

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

As a Personal Share Portfolio (PSP) Service Specialist within the Platform Operations team, your primary responsibility will be to enhance the operational and service experience by ensuring the delivering of exceptional PSP administration services. This role demands meticulous attention to detail, and accountability, alongside a commitment to providing exceptional service in a fast-paced, deadline-oriented environment. You will be responsible for ensuring data accuracy, validity, and completeness, with timely receipt and processing. Additionally, you will be expected to build strong relationships with internal stakeholders as well as PSP providers’ operational teams and possess a deep understanding of the interconnected processes and data within the value chain.

Requirements

Experience and Qualifications:

Relevant degree in Investment Management, Financial Markets, Finance, Accounting, or related field. A post-graduate degree or qualification or studying towards it would be an advantage.

3-5 years of experience in a share account administration role or similar role within the financial services industry.

Share account administration, stockbroking, unitisation, or trade desk experience and clear understanding of how this works across the full value chain.

Experience with trading platform, processes, and systems.

Demonstrated experience collaborating with multiple stakeholders to understand business processes, deliver excellent service and build strong relationships.

Knowledge of compliance and regulatory requirements in the financial services industry.

Duties & Responsibilities

Workflow management:

Take on responsibility for ensuring that all incoming workflow items are dealt with in line with the turnaround’s times and quality standards as per the Service Level Agreement.

Prioritising tasks to ensure critical items are dealt with promptly.

Provide daily reporting on work completed.

Collaboration with other teams to streamline workflow processes.

Provider onboarding and maintenance:

Building and maintaining strong relationships with providers to ensure smooth onboarding and ongoing support.

Facilitate the onboarding process for new providers and client accounts.

Trade Execution and Settlement:

Facilitate the execution of PSP investment and withdrawal instructions on behalf of clients.

Ensure that these transactions are accurately recorded and settled within the required timelines.

Portfolio Management Support:

Maintain accurate records of client portfolios, including transaction histories, current holdings, and cash balances.

Monitor portfolio volumes and provide data to stakeholders.

Ensure that assets used in portfolios are permissible according to the Investment Management Agreement and take remedial action if not.

Corporate Actions:

Assist providers with the required corporate actions reporting such as dividends, stock splits, mergers, rights issues, and other events that impact the securities held in portfolios.

Ensure that these actions are correctly processed and reflected in client portfolios.

Reconciliation:

Perform daily, weekly, or monthly reconciliations of transactions, both cash and holding, and affected security or cash balances records to transactional to ensure transactional data accuracy.

Identify and resolve discrepancies in portfolio data promptly.

Reporting:

Generate and distribute regular reports on portfolio performance, asset allocation, and transaction activity to clients, portfolio managers, and other stakeholders.

Prepare regulatory and compliance reports as required.

Track and report on all PSP providers’ adherence to the Service Level Agreement between Momentum and the provider.

Data Management and Integrity:

Maintain up-to-date and accurate data on all portfolio activities, ensuring the integrity of information in the system.

Monitor and verify the accuracy of data from third-party providers, such as custodians and market data vendors.

Client and Stakeholder Communication:

Act as a point of contact for client queries and escalations related to their portfolios, providing timely and professional responses and first-time resolution.

Establish productive and professional relationships with all stakeholders such as portfolio managers, custodians, brokers, and other internal or external stakeholders to facilitate smooth operations.

Compliance and Regulatory Adherence:

Ensure that all portfolio administration activities comply with relevant regulatory requirements and internal policies.

Stay updated on changes in market regulations that may affect portfolio management.

Risk Management:

Identify operational risks related to portfolio administration and work to mitigate these risks through process improvements and controls.

Monitor portfolio limits and ensure compliance with investment mandates and restrictions.

Continuous Improvement:

Participate in the development and enhancement of portfolio management systems and processes to improve efficiency and accuracy.

Provide feedback on system performance and suggest improvements.

Maintain all procedure documentation with up-to-date information.

Monitor exception reports and address the root cause across systems and processes.

Competencies

Skills and Competencies:

Strong analytical and problem-solving skills, with the ability to understand complex business processes and systems.

Strong resilience, able to navigate challenges and adapt to changing circumstances while maintaining a positive and proactive attitude.

Must possess a control-focused mindset, ensuring meticulous attention to detail and a commitment to always maintaining accuracy and compliance.

Strong understanding of financial markets and securities, particularly shares and other equity instruments.

Proficiency in portfolio management software, trading platforms, and financial databases.

Excellent analytical and numerical skills for data analysis and reconciliation.

Attention to detail and accuracy, essential for managing and verifying large volumes of data.

Strong interpersonal skills, with the ability to build relationships and collaborate with stakeholders at all levels.

Ability to work under pressure, meet deadlines, and manage multiple tasks in a fast-paced environment.

Drives a sense of urgency, focus, accountability, agility, and execution to deliver business results.

Drives continuous improvement through innovation.

Proficiency in Microsoft Office applications, including Excel.

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