NOC Code verification : Senior fund accountant

[leonarm2]

Hi

can someone assist please on my NOC Code for a senior fund accountant

to verify my NOC code for my role of SFA for my permanent residency application. I am just in the closing stages. I believe it may be NOC 1112 or 1114. I am just completing my application currently for PR and just need verification on that. I am sure someone else may have been in same boat previously.

Below are my responsibilities

Oversee and prepare financial reports and profit allocation statements, including “net asset value”, to
meet client deadlines
 Execute the financial control elements covering assets, liabilities, income and expenses, and equity
 Independently complete cash, portfolio and capital reconciliations and investigate and resolve any
discrepancies
 Independently complete income and expense allocations including calculating asset based fees and
performance fees
 Monitor compliance with various client service agreements
 Maintain contact with Investment Managers, Banks, Custodians and Brokers
 Work with all team members to improve product quality and consistency
 Assist with new client onboarding & new fund launches to ensure successful completion
 Train and support team members in their development
 Operate as a contact point for clients; being able to respond to and resolve queries or escalate where
necessary
 Participate in the fiscal year end audit process and provide information to auditors as required
 Liaise with various internal /external parties
 Assist with ad hoc projects

 

[Ameybhonslay]

Hi

can someone assist please on my NOC Code for a senior fund accountant

to verify my NOC code for my role of SFA for my permanent residency application. I am just in the closing stages. I believe it may be NOC 1112 or 1114. I am just completing my application currently for PR and just need verification on that. I am sure someone else may have been in same boat previously.

Below are my responsibilities

Oversee and prepare financial reports and profit allocation statements, including “net asset value”, to
meet client deadlines
 Execute the financial control elements covering assets, liabilities, income and expenses, and equity
 Independently complete cash, portfolio and capital reconciliations and investigate and resolve any
discrepancies
 Independently complete income and expense allocations including calculating asset based fees and
performance fees
 Monitor compliance with various client service agreements
 Maintain contact with Investment Managers, Banks, Custodians and Brokers
 Work with all team members to improve product quality and consistency
 Assist with new client onboarding & new fund launches to ensure successful completion
 Train and support team members in their development
 Operate as a contact point for clients; being able to respond to and resolve queries or escalate where
necessary
 Participate in the fiscal year end audit process and provide information to auditors as required
 Liaise with various internal /external parties
 Assist with ad hoc projects

Hi under what code did you apply for your experience as a Fund According. And was it accepted at the first go itself

 

[mansi14feb]

What is NOC Code for Fund Accountants

 

[Ameybhonslay]

Hi Mansi,

I have used the NOC Code as 1311while filling my ITA.
My previous job was that of a Fund Accountant with JP Morgan.
However, I am still awaiting my PR.

Regards,
Amey

 

[gudboy88]

Hi

can someone assist please on my NOC Code for a senior fund accountant

to verify my NOC code for my role of SFA for my permanent residency application. I am just in the closing stages. I believe it may be NOC 1112 or 1114. I am just completing my application currently for PR and just need verification on that. I am sure someone else may have been in same boat previously.

Below are my responsibilities

Oversee and prepare financial reports and profit allocation statements, including “net asset value”, to
meet client deadlines
 Execute the financial control elements covering assets, liabilities, income and expenses, and equity
 Independently complete cash, portfolio and capital reconciliations and investigate and resolve any
discrepancies
 Independently complete income and expense allocations including calculating asset based fees and
performance fees
 Monitor compliance with various client service agreements
 Maintain contact with Investment Managers, Banks, Custodians and Brokers
 Work with all team members to improve product quality and consistency
 Assist with new client onboarding & new fund launches to ensure successful completion
 Train and support team members in their development
 Operate as a contact point for clients; being able to respond to and resolve queries or escalate where
necessary
 Participate in the fiscal year end audit process and provide information to auditors as required
 Liaise with various internal /external parties
 Assist with ad hoc projects

Hello, have u received PR? which NOC did you go with?

 

[gudboy88]

Hi Mansi,

I have used the NOC Code as 1311while filling my ITA.
My previous job was that of a Fund Accountant with JP Morgan.
However, I am still awaiting my PR.

Regards,
Amey

Hi Amey,
At what stage are you in EE?
I have the below roles and responsibilities, kindly confirm if these too fall under the NOC code 1311:
Involved in daily accounting & reconciliation for APAC, EMEA & North America based mutual fund clients between State Street & custodians

• Calculation of discrepancy in corporate action events, shares entitlement, pricing and liaising with custodians and brokers on discrepancies in corporate action events
• Investigating the exceptions outstanding and adjusting the same in internal system
• To create, maintain and update procedures for assigned funds
• Assisting Portfolio Admin analysts & Managers in getting resolution on aged exceptions
• Initiating weekly proof and control calls with onshore teams and providing the updates and resolutions on identified risk related exceptions
• Verifying activities performed by team members and ensuring the output production meets quality standards
• · Responsible for clearing all outstanding breaks in nostro accounts
  
  · Following up with clients as well as nostro agent banks for non-receipt of funds
  
  · Coordinating with Confirmations, settlements and reconciliation teams over invalid deals, missed payments and duplicate payments done and resolving them until cleared.
  
  · Preparation of MIS reports and End of day reports and communicating the same to the management and other teams in different hubs
  
  · Processing payments missed by settlements team and also settlement of claim/interest/charges amount to clients via SWIFT and RTGS
  
  · Passing ledger entries in order to clear the breaks outstanding in trading as well as nostro accounts
  
  · Forwarding swift messages pertaining to FX/MM deals to the concerned teams for action
  
  · Sending 199/299 swift messages to the counterparty for non receipt of funds and also to our nostro agent in cases where our account is not yet debited.
  
  · Following up with the concerned teams involved in trade life cycle to ensure payments are done before currency cutoff in order to avoid any late payment charges/claim amount.
  
  Ensure that no breaks are unresolved and to escalate the same to the management for further action

 

[Ameybhonslay]

Hi,
Sorry for the late reply.

I submitted my application to CIC and am awaiting my PR.

Your profile looks good for 1311. However, I would suggest that you to have a look at the job responsibilities as mentioned under the Code 1311 and try to structure your responsibility more in line with how they have structured it.

Thanks
Amey Bhonslay.

Hi Amey,
At what stage are you in EE?
I have the below roles and responsibilities, kindly confirm if these too fall under the NOC code 1311:
Involved in daily accounting & reconciliation for APAC, EMEA & North America based mutual fund clients between State Street & custodians

• Calculation of discrepancy in corporate action events, shares entitlement, pricing and liaising with custodians and brokers on discrepancies in corporate action events
• Investigating the exceptions outstanding and adjusting the same in internal system
• To create, maintain and update procedures for assigned funds
• Assisting Portfolio Admin analysts & Managers in getting resolution on aged exceptions
• Initiating weekly proof and control calls with onshore teams and providing the updates and resolutions on identified risk related exceptions
• Verifying activities performed by team members and ensuring the output production meets quality standards
• · Responsible for clearing all outstanding breaks in nostro accounts
  
  · Following up with clients as well as nostro agent banks for non-receipt of funds
  
  · Coordinating with Confirmations, settlements and reconciliation teams over invalid deals, missed payments and duplicate payments done and resolving them until cleared.
  
  · Preparation of MIS reports and End of day reports and communicating the same to the management and other teams in different hubs
  
  · Processing payments missed by settlements team and also settlement of claim/interest/charges amount to clients via SWIFT and RTGS
  
  · Passing ledger entries in order to clear the breaks outstanding in trading as well as nostro accounts
  
  · Forwarding swift messages pertaining to FX/MM deals to the concerned teams for action
  
  · Sending 199/299 swift messages to the counterparty for non receipt of funds and also to our nostro agent in cases where our account is not yet debited.
  
  · Following up with the concerned teams involved in trade life cycle to ensure payments are done before currency cutoff in order to avoid any late payment charges/claim amount.
  
  Ensure that no breaks are unresolved and to escalate the same to the management for further action

 

[gudboy88]

Hi,
Sorry for the late reply.

I submitted my application to CIC and am awaiting my PR.

Your profile looks good for 1311. However, I would suggest that you to have a look at the job responsibilities as mentioned under the Code 1311 and try to structure your responsibility more in line with how they have structured it.

Thanks
Amey Bhonslay.

Hi Amey, thanks for your response, do keep us posted on the status of your application.

 

[djangoboy]

Hi Mansi,

I have used the NOC Code as 1311while filling my ITA.
My previous job was that of a Fund Accountant with JP Morgan.
However, I am still awaiting my PR.

Regards,
Amey

Hi Amey, are you sure with the NOC Code 1311 and not 1111. Even I have the same responsibilities as you do.

Ø Acquire complete understanding of NAV Calculation & its related functions with various parties involved. For Example: Custody, Transfer Agent, Pricing, Corporate Actions, etc.

Ø Clear examination and detailed analysis of accounting entries such as Journal & ledger entries in the automated accounting mechanism.

Ø Planning and organizing the accounting tool, in-order to adhere to quality of 98% and above while processing the Net Asset Value.

Ø Post journal entries from time to time and reconcile the same with the reconciliation tool in strict adherence with the organization’s protocol and client’s request.

Ø Ensure all reconciliation breaks in TA, Cash & Stock are validated and justified for each calculated NAV.

Ø Clear completeness check needs to performed on a daily basis with the Ledger to minimise the errors

Ø Ensure all NAV Calculations are produced in a timely manner as per SLA – Service Level Agreement. Completeness of NAV Packs includes accurate report generation, timely delivery of reports and archiving the reports.

Ø Be proactive in resolving queries and escalate immediately to the supervisor on any issue and queries.

Ø Participation in Key Standard operating procedures for each process migrated to Chennai.

Ø Consistently evaluate the queries received from Auditor’s and provide sufficient backup of reports if any.

Ø Carry out Ad-Hoc activities on a daily and month end basis in accordance with client’s request.

Ø Co-ordinate with various other Teams such as Transaction’s Team which is responsible for bookings, Reconciliation’s team, corporate action’s team and various other supporting teams.

Ø Consults with senior staff to make any necessary adjustments accurately to transactions that impact the unit price.

 

[Oliviavaz]

Hi Amey,
My sister needs is also a fund accountant. So NOC code 1311 perfect. What is the status on your PR.

 

[Ameybhonslay]

Hi Amey,
My sister needs is also a fund accountant. So NOC code 1311 perfect. What is the status on your PR.

Hey,

As discussed above, I have used the NOC code 1311 for my Experience as a Fund Accountant.
I am still awaiting my PR.

Cheers!!
Amey

 

[kirtiwld]

Hi,
I m not sure that NOC 1311 matches the job description laid. I believe 1111 looks more relevant. Let me know if anybody is through using NOC 1311.

Thanks!

 

[dreamabroad]

Hi,

Please advice under which NOC code should I apply for the PR??

Below are my job responsibilities.

I have worked as Hedge fund accountant for 5 years.Wherein my job responsibilities were to calculate NAV,reconcile the books,publish the NAV etc.

Acquire complete understanding of NAV Calculation & its related functions with various parties involved. For Example: Custody, Transfer Agent, Pricing, Corporate Actions, etc.

Clear examination and detailed analysis of accounting entries such as Journal & ledger entries in the automated accounting mechanism..

Post journal entries from time to time and reconcile the same with the reconciliation tool in strict adherence with the organization’s protocol and client’s request.

Ensure all reconciliation breaks in TA, Cash & Stock are validated and justified for each calculated NAV.

Clear completeness check needs to performed on a daily basis with the Ledger to minimise the errors

Ensure all NAV Calculations are produced in a timely manner as per SLA – Service Level Agreement. Completeness of NAV Packs includes accurate report generation, timely delivery of reports and archiving the reports.

Be proactive in resolving queries and escalate immediately to the supervisor on any issue and queries.

Consistently evaluate the queries received from Auditor’s and provide sufficient backup of reports if any.

Carry out Ad-Hoc activities on a daily and month end basis in accordance with client’s request.

Co-ordinate with various other Teams such as Transaction’s Team which is responsible for bookings, Reconciliation’s team, corporate action’s team and various other supporting teams.

 

[Ameybhonslay]

Hi Guys,

I have used 1311 as my NOC code.

I would suggest you all to have a look at the job responsibilities as mentioned under the Code 1311 or 1111 and try to structure your responsibility more in line with how they have structured it.

I do personally feel that a choosing a NOC code is more about convincing the Case officer that the nature of your duties and Responsibilities are in line with those mentioned under the chosen NOC code. We have to understand the difficulties faced by the case officer/s.

The only way they can verify that your roles and responsibilities fit in a particular NOC code is if it matches with the roles and responsibilities as mentioned under that NOC code. (As we cannot expect someone to have domain knowledge of all job profiles.) Expect someone who has worked as an fund account no one can really make a sense of the job descriptions mentioned above.

So once again I think it's not about what is right or wrong NOC code, it's more about how are able to structure your responsibility more in line with how they have structured it under the NOC code given by CiC.

Thanks
Amey

 

[a16107]

Any update on Fund Accountant NOC 1111 or 1311?