(PB) Portfolio Administrator, Commonwealth Private Office, Sydney CBD

Commonwealth Bank

Portfolio Administrator

Commonwealth Private Office (CPO)

Sydney CBD

  • Collaborate with Australia’s Ultra-High-Net-Worth families providing back-office support;
  • A role that allows you to take ownership and directly contribute to the team outcomes;
  • Supported by industry-leading technology platforms and state-of-the-art relationship management tools.

Do work that matters:

Commonwealth Private strives to provide extraordinary personal service and trusted advice to high net worth individuals who have the intention to invest or borrow at least AU$2.5million. Quite simply, our breadth of experience means that we can offer clients a comprehensive range of solutions as well as market leading products and innovative investment opportunities.

You will be supported by superior research capabilities and the extensive resources of the Commonwealth Bank Group, to help our clients achieve the best possible outcome. We have Private Bankers and Private Wealth Managers specialising in banking, lending, strategic advice, investments and insurance located across Australia.

Commonwealth Private has been recognised seven times at the Australian Business Banking Awards voted as the most “Outstanding Institution” in the $1M - $10M Award category. Our vision is to excel at securing and enhancing the financial wellbeing of people, businesses and communities across generations.

See yourself in our team:

The CPO team consists of a range of specialists across the wealth management field that collaborate to deliver an institutional type service to UHNW clients. There are currently 16 team members within CPO located in Sydney, Brisbane and Melbourne.

The Portfolio Administrator provides support to CPO Operations to ensure all client data, reports and systems that fall under the responsibility of the Operations team are accurate and up-to date. You will report to the Operations Manager however you will also work closely with the Client Relationship Managers.

Your day will look like this:

  • Undertaking day to day operational tasks within the CPO:
    • account establishment, notification of account establishment and closures, account maintenance, asset transfers in and out, portfolio set-up in system, funds transfers, reconciliations, and reporting of unlisted assets;
    • reconciliation of the CPO clearing accounts, notification and processing of corporate actions  and distribution payments into clients nominated bank accounts;
  • Prepare weekly, monthly and ad-hoc management reports including portfolio valuations, reconciliation summaries and fee accruals;
  • Assist in the preparation and review of standard client reports including quarterly portfolio packs, performance reports and annual tax statements;
  • Liaise with all third party service and system providers when necessary (including State Street, SS&C, Core Equity Services, registries);
  • Provide assistance to Advisers on an ad-hoc basis, such as collating the CPO client application packs; printing and binding of quarterly reports;
  • Prepare client investment performance reports which will involve validating portfolio data for accuracy and measuring returns against market movements and benchmarks.

We’d love to hear from people who have:  

  • 3+ years relevant experience working at a financial services firm, stockbroking, private banking back office, funds management back office or similar;
  • Trade processing experience of various financial instruments (bonds, managed funds – domestic and offshore, listed securities – domestic and offshore);
  • An understanding of banking, corporate actions and investment procedures (including trade clearing and settlement);
  • An understanding of how investment performance is calculated and is impacted by portfolio transactions;
  • Degree in Finance or Accounting;
  • SS&C technology systems knowledge would be desirable.

Your path will look like:

This role provides you with the opportunity to expand your knowledge and experience in the enviable high net worth client arena. You will face interesting and challenging client scenarios and assist clients to achieve their financial goals. You will also become proficient in understanding how a growing wealth management practice operates within Australia’s most awarded Private Bank. You will experience leadership of a professional and highly engaged team. We will encourage you to broaden your education, experience and exposure in areas that support your career goals. We will give you the flexibility to enjoy a great work life balance.

What we can offer you (Equal Opportunity Statement):

At CommBank, we’re committed to building a diverse and inclusive workforce reflecting the customers, businesses and communities we serve. At CommBank, we nurture and support our people; through focussing on skill and talent development, collaboration, flexibility and internal promotion. With service in mind at every touch point, we take accountability for the role we play in securing and improving the financial wellbeing of people, businesses and communities. At CommBank you can be you.

We value you and won’t leave you hanging. Our advertising closes 20th February, 2018, but expect to hear from us within a week of the closing date. Best of luck!

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