Manager - NAV Oversight

About Waystone

Waystone is a leading asset\-servicing solutions provider of institutional governance, administration, risk and compliance services to financial institutions. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone helps our clients structure, operate and grow through our expertise, innovation and digitisation, backed by the operational scale to support global expansion

Role Purpose

The primary purpose of the FA Oversight team is to ensure high quality output and regulatory compliance of NAV production and financial reporting activities outsourced to third party service providers, particularly in relation to the production and dissemination of fund/class prices, financial statements, and associated deliverables.

This will be achieved through:

• Ongoing monitoring and due diligence


• The identification and mitigation of operational risk


• Building and maintaining good relationships with stakeholders


• The application of collective investment industry knowledge and experience


• Putting investors first


• Ensuring accounting standards and policies are continually maintained

Key Accountibilities \& Main Responsibilities

Strategic Focus

• Understand and challenge the output from third\-party service providers to ensure required service standards are achieved.


• Ensure the escalation of issues in accordance with the team’s escalation procedure.


• Review Management Information and Key Performance Indicators produced by third\-party service providers, and internally, providing input for reporting to senior management and Investment Managers.


• Contribute to Due Diligence assessments of third\-party service providers, as required, and provide reports senior manager on findings.


• Ensure timely and accurate response to queries raised by third\-party service providers and fund auditors.


• Attend service review meetings, as required, to support the resolution of service issues.


• Build and maintain good relationships with key stakeholders, including third\-party service providers, Investment Managers, Trustees/Depositaries, Custodians, and internal teams.


• Support senior management on any ad hoc projects or deliverables.

• Establish and manage the delivery of continuous improvement plans. Ensure ongoing monitoring and challenge of continuous improvement plans of the third\-party service providers.


• Ensure pControl system for Oversight and Back\-up NAV is maintained to reflect fund and regulatory change activity, along with appropriate validations and data to support the oversight of third\-party service providers.


• Ensure work is allocated to the team in a timely manner and completed in accordance with deadlines, procedures, and relevant service levels.


• Facilitate fund change as required to ensure successful delivery in accordance with investor appropriate outcomes, along with Investment Manager and regulatory requirements.

• Effectively manage a team to ensure objectives are met.


• Establish and manage team training plans to ensure knowledge and experience is developed and maintained, and deliver training as required.

• Develop and maintain appropriate procedures for activities within the team, and in conjunction with external parties for outsourced services.


• Ensure breaches are recorded accurately and in accordance with deadlines.


• Produce MI as required for reporting to senior management.


• Support internal and external audits through provision of documentation and response to queries.

• In depth knowledge and understanding of the UK collective investment industry, including accounting and the regulatory environment.


• Proven experience of leading a team, including performance reviews, coaching and resource planning.


• Excellent communication skills, both written and verbal.


• Excellent analytical skills and the ability to challenge information and results.


• Experience of working to strict deadlines whilst maintaining a high level of accuracy.


• Good working knowledge of Microsoft applications (e.g. Excel, Word, Outlook).


• Recognised industry qualification (eg. IOC).


• Recognised accountancy qualification desirable.


• Practical experience of working in fund administration operations desirable.

• Third Party Oversight Team


• Asset Operations Team


• IRP Team


• Product Team


• Client Services Team


• Third Party Service Providers


• Fund Auditors


• Trustees/Depositaries


• Custodians


• Investment Managers

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