Fund Administrator

Job Ref. No: JLIL 257

Role Purpose

The role holder will be responsible for overseeing the administration of funds, including the management of unit-linked funds, segregated funds, and other investment portfolios. The role holder will also ensure the precise and timely processing of fund transactions, meticulous maintenance of financial records, and the delivery of comprehensive reports. The role holder will collaborate closely with both internal teams and external partners to uphold regulatory compliance and company policies, all while striving to optimize fund performance and achieve exceptional levels of client satisfaction.

Main Responsibilities
Operational

• Oversee the daily administration of investment-linked funds, ensuring accurate and timely processing of fund transactions.
• Monitor fund performance, track Net Asset Values (NAV), and manage fund pricing in line with market movements and investment strategies.
• Coordinate with the investment team to ensure that fund allocations align with investment guidelines and objectives.
• Ensure the accurate processing of fund subscriptions, redemptions, and switches, including verification of fund unit allocations.
• Handle the reconciliation of fund accounts, including cash flow management and the settlement of fund trades.
• Manage the distribution of dividends and other payouts to policyholders and fund investors.
• Prepare regular financial reports, including fund performance summaries, unit pricing reports, and valuation statements.
• Maintain accurate and up-to-date financial records for all investment linked funds, ensuring compliance with accounting standards and company policies.
• Provide accurate and timely information to the Management, underwriting and business development teams regarding fund performance, unit prices, and other fund-related inquiries.
• Address underwriting and business development queries and issues promptly, ensuring a high level of service and satisfaction.
• Collaborate with the customer service and marketing teams to enhance client communications and fund-related content.
• Ensure the efficient operation of fund administration and fund management systems, including the setup and maintenance of fund structures within the system.
• Work with IT teams to implement system enhancements and resolve any technical issues related to fund management.

Corporate Governance

• Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
• Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
• Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
• Compliance. Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

Culture

• Foster a corporate culture that promotes ethical practices and good corporate citizenship.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Create personalized development plans that align with career aspirations and the organization's objectives.
• Provide transformational leadership to meet and surpass stakeholder expectations.

Key Competencies

• Attention to Detail. Ability to maintain accuracy in fund transaction processing, financial reporting, and recordkeeping.
• Analytical Skills. Strong analytical skills to monitor fund performance, identify trends, and make data-driven decisions.
• Communication Skills. Excellent verbal and written communication skills to interact effectively with clients, brokers, agents, and internal teams.
• Problem-Solving. Ability to identify issues quickly and implement effective solutions in fund administration processes.
• Team Collaboration. Strong teamwork and interpersonal skills to collaborate with cross-functional teams, including
• IT, investment, and customer service departments.

Academic Background & Relevant Qualifications

• Bachelor’s degree in finance, Accounting, Business Administration, or a related field.
• Professional qualifications such as CPA, CFA, or equivalent are an added advantage.
• Minimum of 2-3 years of experience in fund administration, financial management, or a related role within the insurance or financial services industry.
• Experience with fund management systems and regulatory compliance is essential.