Description of the Business Line or Department
Société Générale Securities Services (SGSS) is part of Global Banking & Investor Solutions (GBIS), a key pillar of Société Générale’s universal banking enterprise.
SGSS is among the top ten global custodians, and the 2nd largest in Europe, employing over 4,000 staff in 28 locations.
SGSS has 4 primary divisions:
SBO – Securities Banking Operations
FSO – Fund Services Operations
CML – Coverage, Marketing and Liquidity Management
CAO – Support functions
Société Générale Securities Services (SGSS) has been active in Ireland for 20 years and is a leading player in servicing Irish domiciled and offshore collective investment vehicles. We act as depositary for a wide range of international clients who manage UCITS, Alternative Investment Funds including private equity and real estate structures, hedge funds and special purpose investment vehicles. We can offer a full suite of Fund Administration and Transfer Agency Services through our sister company.
Our primary objective is to assist our clients achieve their investment objectives supported through our local and global custody service divisions.
Summary of the key purposes of the role
Reporting to the Trustee Manager, the Trustee Administrator is responsible for overseeing legal and regulatory compliance with regard to Irish and non-Irish domiciled funds. The role of the Trustee is to act independent of the Fund and its Management Company and ensure the Fund is being managed in accordance with its constitutional documentation, the Regulations and in all other material respects.
Previous experience in Trustee/Custody/Compliance role desirable but not essential.
A key consideration of this role will be the opportunity to be involved in various initiatives designed to enhance the Depositary’s operational control environment.
Summary of responsibilities
• Investment & borrowing restriction monitoring
• Concentration and leverage calculations
• Breach register maintenance
Cash Flow Monitoring
• Identification of significant and inconsistent cash flows
• Eligible credit institutions
•Third party cash account monitoring
Net Asset Valuation (NAV) Oversight
• Income calculation and distributions
• Share class hedging calculations
• Performance/incentive fee calculations
• Trial Balance/Portfolio Valuations analysis
• Contribute to the on-site visits of fund delegates and to the issuing of final reports
• Ownership verification - securities held outside the depositary’s traditional safe-keeping arrangements
• Real Estate and Private Equity structures
Client Service / Reporting
• Assist with preparing responses to client queries
• Assist with workflow development and enhancements