Job Description
Jurisdictional Head of Depositary Services
Job ID: 4162337003
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| Location: Southampton
Reports to the Group Head of Depositary Services
We are looking for an experienced individual to lead Aztec’s depositary services business in the United Kingdom.
With over 400 funds and approximately €370 billion of assets under administration, Aztec partners with the principal names in the funds industry, assuring first-class services that truly make a difference to their performance. Since its establishment in 2013, our depositary business has grown significantly and supports a significant proportion of the funds and assets referred to above.
In this director-level role you will lead and develop our UK-based team providing depositary services to a diverse portfolio of closed-ended private equity, real asset and infrastructure funds. A leader and expert in your field, you will play an important role in helping the business to meet its potential and will be required to lead client relationships and ensure ongoing delivery of a Aztec-standard service levels.
As head of jurisdiction you will also be a senior member of the Aztec Group Depositary Services leadership team and support the Group Head of Depositary Services to deliver the jurisdictional business plan and meet client development, employee engagement, financial, operational targets as well as contribute to strategic, Group-level considerations.
In supporting our ambitious growth strategy, you will be expected to positively contribute to our client and business development strategy and activities within the UK but also across the Group.
Key Responsibilities:
Client management
- Work with the UK depositary management team to ensure that high levels of client service are delivered on a day-to-day basis across the client portfolio;
- Ensure that all client outputs are subject to satisfactory review, are of sufficient quality and demonstrate detailed understanding;
- Undertake formal client relationship reviews for Aztec’s depositary-only and multi-product clients;
- Lead the development and maintenance of executive-level relationships including, but not limited to, periodic client relationship meetings and the formal presentation of reports to client boards; and
- Support the depositary management team in developing relationships with other Aztec teams providing services to the same clients.
- Act as line manager to the UK depositary leadership team, ensuring that they are effectively supervised, coached, directed, engaged and encouraged through their day-to-day work and longer-term ambitions;
- Support the depositary management team in managing their respective teams including, but not limited to, training, development and/or promotion considerations; and
- Work with depositary management team on all aspects of junior team member recruitment and the relationships with internal and external stakeholders.
- Assist in building Aztec’s depositary service offering in the UK, acting as the first point of contact for proposal-drafting, fee and team considerations;
- Work effectively with Aztec’s business development and leadership teams to facilitate effective response to reactive opportunities as well as developing and delivering on a plan of proactive existing and prospective client development intermediary relationship development;
- Support the Group Head of Depositary Services in the ongoing assessment and development of Aztec’s business development and marketing material and profile-building in our core and target markets; and
- Develop effective relationships across Aztec’s leadership team.
Financial performance management
- Lead the UK Depositary Services budget-setting process and remain responsible for the delivery of this, ensuring effective ongoing monitoring and decision-making;
- Ensure appropriate fees are agreed with all UK depositary clients and that client and team-specific financial considerations are adequately managed and addressed; and
- Lead strong working capital performance across the UK depositary business by liaising effectively with our internal finance team and our clients on billing, invoice and payment considerations.
- Actively contribute to the representation of the Group depositary business on internal operational committees and working groups; and
- Assist the Group depositary leadership team in assessing and developing the depositary services operating model relationships with third parties.
Governance
- Assume all formal regulatory responsibilities functions as a head of depositary services in the UK as determined by the Financial Conduct Authority;
- Assume formal regulatory responsibility for Aztec UK’s client asset servicing obligations as defined by the FCA; and
- Represent the UK depositary business on the Aztec UK board of directors.
- Act as a higher-level authority for internal and external risk considerations including, but not limited to, new business risk assessments, financial decisions and formal client communications;
- Work with the UK depositary management team to ensure that Aztec’s internal control framework is consistently delivered across the UK depositary business; and
- Act as the first point of contact for legal, compliance audit and risk review planning, delivery and outcomes related to the UK depositary business.
Skills, knowledge, expertise:
- Proven experience of delivering and/or leading the provision of professional services to a portfolio of clients;
- Experience of operating successfully at board level, including writing and presenting reports and maintaining ongoing relationships with executive-level people;
- A relevant professional qualification such as ACCA, ACA, ICSA or equivalent;
- Experience of contributing to and being responsible for all aspects of running a successful business or business unit including, but not limited to, operational, risk, financial and people performance as well as more medium-term strategic considerations;
- Experience of working in an FCA-regulated environment;
- Proven experience of contributing to successful business development activity, including relationship development and maintenance, drafting proposals, fee quotations and presentation scenarios;
- Experience of managing senior people, and providing indirect leadership to their respective teams;
- Sound technical knowledge, a commercial outlook but also a strong appreciation of the importance of risk, compliance and regulation; and
- A background in private equity and/or real estate funds is desirable, but not essential; and
We will provide the training, both in house for relevant technical knowledge and to enhance your professional development. You will need to be quick to learn new systems and great with people, as close working relationships between our colleagues and clients is at the heart of what we do.
Aztec Group is a regulated financial services group.