Transaction Processing Associate

AB Global


OPS Job Description:

We are seeking a Luxembourg based Transaction Processing Associate to join our Transaction Processing Department for ABIS Luxembourg.

Describe the role:

  • The purpose of this job is to be responsible for efficiently and accurately processing all incoming transaction related requests;
  • This position also involves establishing and maintaining shareholder accounts, resolving missed or incorrectly processed items through corrective processing, and analyzing incoming account information for fraud;
  • Employees are provided feedback on quality processing guidelines and handling special projects as needed;
  • All associates are responsible for quality customer service and adhering to proper legal guidelines and required documentation when researching, creating and updating shareholder accounts using AB’s in-house computer systems;
  • Describe the applications and business or enterprise functions the role supports:
    • Management Company and the AB Lux fund platform.

The key job responsibilities include, but are not limited to:

  • Review all incoming shareholder and financial intermediary/broker requests (e.g. new account set up and maintenance, purchase, redemption, transfer, exchange orders) paying particular attention to detail to determine if legally required documentation is complete, and ensure that shareholder requests meet legal requirements and AB Lux internal control standards;
  • Opening and maintenance of shareholder account information directly into ABIS’ Transfer Agent system, including the verification of account opening documentation in relation to regulatory obligations, such as AML/KYC, FATCA and CRS;
  • Analyzing incomplete items for exception processing by evaluating potential risks and customer service implications;
  • Drafting follow-up correspondence for unresolved items to shareholders and financial intermediary/brokers to obtain information and to expedite account opening and/or transaction processing;
  • Input of financial transactions respecting internal ABIS efficiency and accuracy standards;
  • Analyzing and determining if exception processing can be done prior to engaging Client Service teams with shareholder account information and transaction related information (escalation to management through the presentation of facts and data when required);
  • Quality control of the different processed items;
  • Acknowledgement and confirmation of FundSettle and Vestima+ transactions;
  • Input of settlement instructions relating to Clearstream transactions in Creation Online and handling of investigations in case of problems;
  • Cash reconciliation and settlement of outstanding purchase trades;
  • Input and control of payments in the custodian bank web-based application;
  • Execution of security/cash reconciliations for AB Lux funds activity in different EU based clearing houses;
  • Identification of processing gaps, and implementation of new processing controls;
  • Contribution to the improvement of daily operational processes and the implementation of new projects and initiatives;
  • Participation in regular reviews of relevant working procedures.

What is the professional development value of this role, i.e. what learning and professional growth does the role offer the candidate?

This position is not responsible for supervising other employees. However, from time to time employees may be given the responsibility of supervising the distribution of work among fellow team members.

Job Qualifications (The ideal candidate should have the following):

  • Fluent in English (written & oral), German and/or French considered as an advantage;
  • Good knowledge of Excel, and of Microsoft Office products in general (Word, Outlook…);
  • Knowledge of Vestima+, CreationOnLine and/or FundSettle platforms considered as an advantage;
  • Knowledge of Transfer Agency regulatory, as well as general AML/KYC requirements;
  • Understanding of the basic concept and mechanisms of FATCA and CRS;
  • Experience in Transfer Agency operations, ideally experience in a transaction processing and registration/account opening role;
  • Ability to solve practical problems and deal with a variety of complex situations where only limited standardization exists;
  • Ability to interpret a variety of instructions furnished in written, oral or diagram form;
  • Ability to work independently and interact well with both team members and internal customers;
  • Ability to thrive under pressure;
  • Good organizational skills in order to meet deadlines.

Qualifications, Experience, Education:

  • Relevant Work experience: 1 to 4 years;
  • Minimum Career level: Experience in a relevant role;
  • Education Level: Bachelor’s Degree.

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