Overview
The Middle Office Reconciliation Head owns end‑to‑end reconciliation and data integrity across positions, valuations, and transaction data for Client’s global custody and investment servicing clients. The role is accountable for operational control, automation strategy, exception management, and transformation, ensuring accurate books and records across asset classes while driving scalability, STP, and risk reduction through technology‑enabled solutions.
Domain Ownership – Positions, Valuations & Transactions
Position Reconciliations
- Oversee reconciliation of security positions across:
- Custodian vs Investment Book of Record (IBOR)
- IBOR vs Accounting Book of Record (ABOR)
- Prime broker, clearing broker, and counterparty statements
- Cover complex products including:
- Equities, fixed income, repos
- Exchange‑traded and OTC derivatives (Futures, Options, Swaps, CDS)
- FX positions (spot, forward, NDFs)
- Alternative investments (where applicable)
- Ensure position accuracy across:
- Stock lending/borrowing and collateral movements
- Drive root cause reduction on systemic position breaks (corporate actions, settlement failures, asset servicing events).
Valuation & Pricing Reconciliations
- Own valuation difference analysis across:
- IBOR vs ABOR
- Client vs third‑party pricing vendors
- Handle valuation complexities including:
- Multi‑currency pricing and FX rate impacts
- Dirty vs clean pricing
- Model‑based valuations for OTC and illiquid instruments
- Price challenges and tolerance breaches
- Ensure governance around:
- Price sourcing hierarchy
- Partner with Valuation, Product Control, and Pricing teams to resolve systemic valuation differences.
Transaction & Activity Reconciliations
- Oversee reconciliation of transaction flows from front office through settlement and accounting:
- Trade capture vs settlement systems
- Broker confirms vs internal records
- Corporate action entitlements and elections
- Monitor integrity of:
- Trade lifecycle events (amendments, cancellations, resets)
- Derivative lifecycle cashflows (premiums, margin, coupons)
- FX settlements, fails, and netting
- Ensure accurate reflection of transactions in downstream books and client reporting.
- Define and execute a reconciliation automation roadmap aligned to Client’s strategic platforms.
- Drive adoption of:
- Automated ageing and escalation workflows
- Leverage analytics to:
Advanced Capabilities
- Partner with Technology and Transformation teams on:
- Data lineage and upstream data quality fixes
- Exception clustering and pattern recognition
- Machine learning for break prediction
- NLP for transaction and confirmation matching
- Workflow digitization and case management tools
Risk, Controls & Governance
- Own reconciliation‑related operational risk, SOX controls, and regulatory commitments.
- Ensure completeness, accuracy, and timeliness of:
- Management and regulator reporting
- Aged, high‑risk, or material differences
- Audit, risk, and regulatory findings
- Deliver sustainable remediation, not workarounds.
Client & Stakeholder Management
- Serve as a senior partner to:
- Front Office, Fund Accounting, Custody, and Client Service teams
- External clients for reconciliation transparency and issue resolution
- Support client onboarding, conversions, and new product launches with strong reconciliation design.
- Present reconciliation health, automation progress, and risk posture to senior leadership.
- Lead and develop multi‑layered global teams (Managers, Team Leads, SMEs).
- Build deep domain expertise across asset classes and reconciliation disciplines.
- Drive performance, engagement, and succession planning.
Required Qualifications
Experience
- 12–18+ years in financial services operations
- Deep expertise in middle office or control‑focused reconciliation roles
- Proven leadership of large, global teams within custody / asset servicing environments
- Positions, valuations, and transaction reconciliations
- Automation and transformation initiatives
Education & Certifications
- Bachelor’s degree in Finance, Accounting, or related field
- MBA, CA, CPA, CFA, or equivalent preferred
- Strong product and data flow knowledge across the trade lifecycle
- Automation‑first mindset with risk awareness
- Excellent stakeholder management and executive communication
- Ability to operate at scale in a regulated, high‑control environment
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