EMC Administrator

Job Description

Duties include:
Liaise with External Account Managers and Custodians (EMCs) to set up new external managed accounts as required
Raise payment of funds to EMC for investment or arrange set up of new external account for re-registration and transfer of assets held in existing external client portfolio
Set up new asset record/broker record on investment system as required and create investment deal for external managed account funding
Set up new client asset link on investment systems and update overdraft clearance options
Request funds from EMCs for clients surrendering their policy, taking a withdrawal, or changing their investment management options as directed by Claims, Policy Servicing or Dealing Team. Providing notification to relevant team when funds are received and allocated to client dealing account and available for processing
Deal with ad-hoc correspondence and telephone queries from EMCs, financial advisers and sales branches as required
Daily money in matching and allocation to client portfolios via client record system
Monthly monitoring and notification of balances on client Dealing Accounts and request funds from EMCs as necessary to clear any overdrawn cash positions
Create and amend standing cash management instructions in place with EMC to cover bond cash requirements for ongoing bond charges, regular withdrawals, depletion of cash or internal fund holdings etc
Recording and processing of investment management switch requests for existing internal and externally invested bonds. Including provision of transfer instructions to Policy Servicing Team or dealing instructions to Dealing Team and monitoring and follow up on client records for receipt of redemption proceeds for onward investment
Daily monitoring and processing of outstanding items reports for withdrawals, surrenders, account closures and investment management switches
Processing of phone and email queries received
Ensuring all reconciliation items are cleared within the set time-scales
Daily monitoring and processing of all emails received into central mailbox
Assist in identifying, logging, investigation, resolution and reply to any complaints
Collation of team work statistics and production of weekly/monthly MI reports
Assist/provide cover for other members of discretionary team during busy times or absences
Where appropriate become involved in the development of improved controls and procedures within the department
Check and monitor work of team members and report to EMC Services Manager
Ensure all department procedures are reviewed regularly and updated
Completion of all processes necessary to ensure the completion of the quarterly EMC valuation process with any set service standard/timetable
Ensure processing and management of the electronic valuations inload process for pricing and reviews within set timescales
Carry out manual full and cash movement reviews against records within set timescales
Asset review of funds held to ensure that they comply with investment guidelines and PPB regulation restrictions
Liaison with external managers to ensure unacceptable assets is removed from the external managed account

Skills and experience required:
Minimum of 2-3 years’ experience within the Financial Services industry. Ideally an Investment role within Life Assurance
Good knowledge of Microsoft Office Applications (Word, Excel, Outlook)
Ability to compose good standard of ad hoc letters/faxes
Experience within a customer facing administration role
A good knowledge of Life Assurance/Investment Bonds processing