Investment fund administrator

Job description

Investment fund administrators are responsible for servicing and managing a fund: a group of people (shareholders) pool their savings to invest in financial assets, typically securities or shares. Funds are treated like companies and, like all companies, annual and interim sets of accounts must be prepared and published. The fund administrator does all the ‘back office’ financial paperwork processing, ensuring that clients have up-to-date information on their fund’s investment performance and also that the funds comply with all necessary legal requirements.

While there are some fund promoters and managers based in Ireland, the main focus of the Irish industry is the administration and servicing of funds.

Work activities

• Processing telephone, fax and emailed subscriptions, redemptions, transfer and switches for onshore and offshore funds
• Resolving dealing-related enquiries by email and by telephone, supplying information relating to funds’ portfolios, prices, dealing procedures, markets and currencies
• Liaising with local offices, clients and shareholders around the world
• Processing paperwork for trades and related activity
• Maintaining shareholder register and investor files
• Processing dividend payments
• Preparing and distributing of shareholder statements and investment manager reports
• Distributing interim and end-of-year financial reports to shareholders
• Ensuring compliance with anti-money laundering procedures
• Reporting of fund transactions to fund accountants
• Reconciling daily cash accounts.

Work conditions

Travel: opportunities for international travel, especially in business development, marketing or client relationship management.

Working hours: mainly Monday to Friday, with frequent extra hours. Location: jobs rarely found outside major cities.

Opportunities for self-employment: unlikely.

Typical employers

Various financial institutions including:

• Specialist fund management companies
• Insurance companies
• Investment banks
• Stockbroking firms.

Career development

While there is a high turnover of staff at junior levels, there are good opportunities to progress up the management ladder, moving from administrator to senior administrator to team leader to manager.

Salaries

The rewards and compensation available in the funds industry are very attractive. Salaries are offered in line with educational qualifications and experience and are generally reviewed on an annual basis to ensure they remain competitive.

As well as attractive salaries, most companies offer some or all of the following benefits: pension schemes, health cover, educational support, bonus, share option schemes, lunch facilities, club subscriptions, preferential personal loans, active sports and social committees.

Entry requirements

Open to graduates of all disciplines. Entry route is usually through a graduate training scheme. Although not essential, most people entering the industry will have a business or finance undergraduate or postgraduate degree.

Other relevant degree subjects

• Accounting
• Administration
• Business
• Finance
• Financial services
• Management.

Postgraduate study

There are numerous specialised courses dedicated to the funds industry and the Irish Funds Industry Association (IFIA) also runs professional courses for those employed in the industry.

Training

Training is mainly on the job, supplemented by short courses.

Skills and qualities

• Eager to learn with an understanding of world business and financial affairs and an awareness of trends and current activity in the financial market
• Numerate and analytical; capable of evaluating complex financial information
• Accurate and methodical, with great attention to detail
• Ability to thrive in pressured environments
• Good judgement and decision-making skills
• Ability to liaise effectively with clients and other organisations
• Confident and positive image
• Excellent oral and written communication skills are essential for writing reports and negotiating with clients.
• Team player
• Organised and deadline-efficient; willing to work long hours
• Computer literate.