Assistant Vice President, Asset Services

Do you want your voice heard and your actions to count? Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career. Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The Markets and Securities pillar is part of the Operations Office for EMEA that supports MUFG’s core products and services including Banking (commercial/retail based payments, loans, derivatives, trade finance) and Securities (Derivatives, FX, Fixed Income, Equity etc.). The Asset Servicing Department is responsible for servicing both Primary and Secondary Markets for both MUFG Bank London and MUFG Securities EMEA on a dual hatted basis. The Corporate Actions and Income Processing function covers Secondary market activity which includes the capturing and processing of all Dividends, Coupon Distributions and Corporate Actions on proprietary positions. The team is split across London and Mumbai with the main oversight responsibilities residing in London.

MAIN PURPOSE OF THE ROLE

This role sits within the Corporate Actions and Income Processing team where the successful candidate will assist the team in being responsible for the processing of Corporate Actions and Income events across global markets on Equities, Debt Securities as well as Derivatives positions.

KEY RESPONSIBILITIES

• Responsible for ensuring that all BAU processes are performed in an efficient, accurate and timely manner incurring zero losses.
• Daily oversight of the outsourced Income processing ensuring all daily checks and controls are maintained.
• Building and maintaining positive and collaborative relationships with the Front Office in order to ensure internal service levels are being met.
• Responsible for the processing of mandatory and voluntary Corporate Actions (incl Optional Dividends), as well as covering the Dividends and Coupons processes when required.
• Daily cash reconciliation ensuring transparent break reporting and resolution.
• Chasing counterparties to ensure outstanding cash items are kept to a minimum.
• Dealing with counterparties to confirm voluntary event instructions in a timely manner.
• Understanding WHT implications for each market and ensuring expected entitlements are in line with DTT rates.
• Working closely with other internal departments, including Front Office, for the management of specific trades with sensitive clients.
• Liaising with the Settlements team and Derivatives Trade Support to ensure all internal static is correctly updated in line with the events and clean end to end processing.
• Identifying trades that are subject to auto-compensation and updating internal flows accordingly.
• Strict adherence to the CASS rules regarding client money segregation.
• Identification of process improvements, both tactical and strategic, and ensuring the improvements are communicated and adopted across the team.
• Ensuring procedures are reviewed and updated on a regular basis.
• Cross training on other team functions such as Coupons and Dividends processing.
• Prompt escalation to management of any potential issues as and when identified.
• Assisting in Audit, SOX and other regulatory reviews of the department, and the closing of any open action items.
• Providing periodical MIS to management.
• Ad-hoc project work as and when required, including UAT and regression testing.

WORK EXPERIENCE

Essential: 3+ years’ experience in a Corporate Actions and Income Processing related role, preferably within the IB segment of Financial Services. Able to demonstrate a detailed understanding of the front to back processing flows across mandatory and voluntary events. Experience of automating Corporate Actions and Income processes would be beneficial.

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

Essential: Strong MS Excel skill (experience using Vlookup, Pivot Tables and Graphs advantageous); Strong understanding of Corporate Event impact on Derivatives positions and associated processing.

Preferred: Knowledge of Swift, IntelliMatch and Broadridge Gloss systems desirable but not essential. Presentation skills using Microsoft Apps (Excel, Powerpoint, PBI).

PERSONAL REQUIREMENTS

• Results driven, with a strong sense of accountability.
• A proactive, motivated approach with the ability to perform well in a pressurised environment.
• Excellent communication skills.
• A structured and logical approach to work.
• Control focussed mind-set.
• Strong problem solving skills.
• Excellent interpersonal skills.
• The ability to manage large workloads and tight deadlines.
• Excellent attention to detail and accuracy.
• Confident manner when dealing with senior stakeholders.

We are open to considering flexible working requests in line with organisational requirements. MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership. We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.