A Fund Administrator carrys out administrative tasks that help to support the running of a fund and help to keep the fund compliant.
As a fund is a group of investments this means setting up new investors on the funds database, preparing investor statements and updating subscriptions and redemptions of transactions on the fund. A Fund Administrator will also have an understanding of compliance and due diligence to ensure the fund is compliant.
Over their career a Fund Administrator can move through different levels of seniority up to managing their own team of administrators.
What would you be responsible for…
- Processing and reviewing subscriptions, redemptions, transfers and switches
- Completion of due diligence on investors
- Responding to daily queries about the fund
- Processing and reviewing audit confirms
- Preparing corporate action templates for corporate services
- Generating monthly and quarterly reports for the Investment Manager.
What the standard requirements are…
- Previous experience in a Fund or Corporate Administrative role
- Bachelor’s Degree in Business Administration
- Proficiency in MS Office, Word and Outlook
- Proficiency in software such as Viewpoint
- Knowledge and understanding of legal requirements and local statutory laws such as FATCA/CRS.
Essential skills needed…
- Strong attention to detail
- Highly organised
- Strong verbal and written communication
- Ability to multitask and prioritise.
To be successful you should…
- Obtain a relevant degree such in a subject such as Business Administration
- Once degree qualified or if you have relevant experience work towards and gain an ICSA (Institute of Chartered Secretaries and Administrators) qualification
- Get as much relevant experience in an administrative role in funds.
What if I’m starting right at the beginning…
As in any career, it is important to obtain the necessary qualifications or experience. In Fund Administration a qualification in a course such as business administration and/or the ICSA qualification would be an asset. It’s also useful to hone your regulatory knowledge in areas such as FATCA. If you are already working, you could request a rotation to the funds team or look at completing a contract role with a fund company.