Shell Asset Management Company BV (SAMCo) is the in-house asset manager of the Shell Plc group and provides high quality and cost-effective investment advice and asset management services to its clients all associated with Shell. SAMCo is supervised by the Authority for the Financial Markets and the Dutch Central Bank. The company is internationally oriented, with clients in various countries and approximately 200 employees of different nationalities.
The total AuM is around USD 90 billion. On behalf of its clients, SAMCo invests in Fixed Income, Equities, (Bilateral- and Cleared) OTC & ETD Derivatives, and Alternative Investments like Private Equity, Real Estate and Hedge Funds across the world. Continuous change in financial markets and regulations as well as the diversity of SAMCo's clients and the products they invest in, makes it a professionally challenging environment to work in. The Head of Investment Operations leads the Operations department (17 FTE), which covers both Corporate Actions, Cash management and Settlements:
Cash & Settlements:- Post execution processing and settling Fixed Income & Equity and FX/MM transactions
- Post execution checking and monitoring of Bilateral- and Cleared OTC Derivatives
- Post execution checking and monitoring Futures position and margining
- Collateral Management on OTC Derivatives and Repo exposures
- Perform the SFTR & EMIR Trade Reporting
Corporate Actions, Static Data & Reconciliation:- Analyse, process and instruct Corporate Actions
- Perform cash- and holding reconciliations
- Set up and update Static Data and Reference Data in Simcorp Dimension
- Perform Tax Operations activities in cooperation with Tax Advisor
Dimensions (annual figures):Bond & Equity trades: 150,000 trades
(Reverse) Repo's: 3,200 trades
Collateral: 20,000
Corporate Actions: 5,100
Income (dividends / coupon): 75,000
Trading OTC Derivatives: 2,200
Trading FX: 12,000 trades
Cash flows to be reconciled: 350,000
Overall, the Head Investment Operations is responsible. Adequate and secure communication (internal and external) between the teams and other departments within SAMCo is crucial for an optimal day-to-day process.
What's the role? As Head Investment Operations you will have the following scope of responsibilities:
- Adequate staffing and development of SAMCo Operations staff.
- Overall responsible for the delivery of support to SAMCo in the areas of Cash & Settlements and Corporate Actions, Static Data & Reconciliation and act as senior point of escalation and resolves exceptions
- Ensure effective execution of Operations controls (as per the SAMCo Control Framework)
- Drive departmental (Operations) Continuous Improvement activities / projects
- Participate in cross departmental improvement and compliance projects (on behalf of Operations)
- Monitor the regulatory landscape (like EMIR, SFTR, CSDR) and assess impact on Operational processes
- Monitor of the external environment and assessing the impact of changing markets and technology on operational processes
- Ensure appropriate contractual arrangements are in place with respect to operational processes with counterparties, Global Custodian and Clearing Brokers
- Act as focal point for SAMCo and manage relationships with the Global Custodian and Clearing Brokers
- Discuss and negotiate on periodic basis Fee Schedules as part of the Global Custody Agreement
- Provide input to the various legal contracts which need to be negotiated on behalf of clients like GCA's, Clearing Agreements, ISDA, CSA, GMRA, EMIR related documents
- Active role in the various committees / meetings within SAMCo like the Operational Risk Committee, Counterparty Exposure Meeting and External Manager Onboarding
- Ensure up to date and comprehensive documentation and manuals with respect to Operations processes are in place
Key Challenges- Facilitate a further increase of the STP rate for various processes
- Ensure timely implementation of regulatory requirements and reporting
- Amend operational processes and systems set up to support shortened settlement cycles
- Further automation to remove manual processes
- (Further) development (skills and competences) of staff
- Represent Operations in company-wide improvement projects
- Balancing of (daily) operational activities and projects
What we need from you- Detailed knowledge of the Asset Management industry, preferably Investment Operations
- Multiple years' experience in the Asset Management industry
- Proven knowledge of Global Custody and Clearing
- Proven experience in managing a diverse team of professionals
- Master's degree in economics or Finance or equivalent
- Strong communication, interpersonal and management skills
- Good written and spoken English and the ability to communicate clearly and professionally
- The ability to maintain a strong controls framework, high levels of operational excellence and straight through processing
