We're Hiring - Middle Office Reconciliation Head at London, UK (Hybrid)

Role: Middle Office Reconciliation Head

Location: London, UK

Duration: Long Term

Role Summary

The Middle Office Reconciliation Head owns end‐to‐end reconciliation and data integrity across positions, valuations, and transaction data for Client’s global custody and investment servicing clients. The role is accountable for operational control, automation strategy, exception management, and transformation, ensuring accurate books and records across asset classes while driving scalability, STP, and risk reduction through technology‐enabled solutions.

Core Accountabilities

1. Domain Ownership – Positions, Valuations & Transactions

Position Reconciliations

Oversee reconciliation of security positions across:

Custodian vs Investment Book of Record (IBOR)

IBOR vs Accounting Book of Record (ABOR)

Prime broker, clearing broker, and counterparty statements

Cover complex products including:

Equities, fixed income, repos

Exchange‐traded and OTC derivatives (Futures, Options, Swaps, CDS)

FX positions (spot, forward, NDFs)

Alternative investments (where applicable)

Ensure position accuracy across:

Trade date vs settlement date

Corporate actions processing

Stock lending/borrowing and collateral movements

Drive root cause reduction on systemic position breaks (corporate actions, settlement failures, asset servicing events).

Valuation & Pricing Reconciliations

Own valuation difference analysis across:

IBOR vs ABOR

Custodian vs Fund Accounting

Client vs third‐party pricing vendors

Handle valuation complexities including:

Multi‐currency pricing and FX rate impacts

Dirty vs clean pricing

Model‐based valuations for OTC and illiquid instruments

Price challenges and tolerance breaches

Ensure governance around:

Price sourcing hierarchy

Stale price detection

Fair value adjustments

Partner with Valuation, Product Control, and Pricing teams to resolve systemic valuation differences.

Transaction & Activity Reconciliations

Oversee reconciliation of transaction flows from front office through settlement and accounting:

Trade capture vs settlement systems

Broker confirms vs internal records

Corporate action entitlements and elections

Monitor integrity of:

Trade lifecycle events (amendments, cancellations, resets)

Derivative lifecycle cashflows (premiums, margin, coupons)

FX settlements, fails, and netting

Ensure accurate reflection of transactions in downstream books and client reporting.

Automation & Transformation Leadership (Key Focus)

Automation Strategy & Execution

Define and execute a reconciliation automation roadmap aligned to Client’s strategic platforms.

Drive adoption of:

Rule‐based auto‐matching

Tolerance‐driven break categorization

Automated ageing and escalation workflows

Leverage analytics to:

Identify repeat and non‐value‐add breaks

Eliminate manual touchpoints

Improve first‐pass reconciliation rates

Advanced Capabilities

Partner with Technology and Transformation teams on:

Intelligent reconciliation engines

Data lineage and upstream data quality fixes

Exception clustering and pattern recognition

Support use cases leveraging:

Machine learning for break prediction

NLP for transaction and confirmation matching

Workflow digitization and case management tools

Ensure strong control design even as processes move to low‐touch / no‐touch models.

Risk, Controls & Governance

Own reconciliation‐related operational risk, SOX controls, and regulatory commitments.

Ensure completeness, accuracy, and timeliness of:

Break ageing metrics

Control attestations

Management and regulator reporting

Act as senior escalation point for:

Aged, high‐risk, or material differences

Audit, risk, and regulatory findings

Deliver sustainable remediation, not workarounds.

Client & Stakeholder Management

Serve as a senior partner to:

Front Office, Fund Accounting, Custody, and Client Service teams

External clients for reconciliation transparency and issue resolution

Support client onboarding, conversions, and new product launches with strong reconciliation design.

Present reconciliation health, automation progress, and risk posture to senior leadership.

People Leadership

Lead and develop multi‐layered global teams (Managers, Team Leads, SMEs).

Build deep domain expertise across asset classes and reconciliation disciplines.

Drive performance, engagement, and succession planning.

Required Qualifications

Experience

12–18+ years in financial services operations

Deep expertise in middle office or control‐focused reconciliation roles

Proven leadership of large, global teams within custody / asset servicing environments

Hands‐on exposure to:

Positions, valuations, and transaction reconciliations

Automation and transformation initiatives

Education & Certifications

Bachelor’s degree in Finance, Accounting, or related field

MBA, CA, CPA, CFA, or equivalent preferred

Key Competencies

Strong product and data flow knowledge across the trade lifecycle

Automation‐first mindset with risk awareness

Excellent stakeholder management and executive communication

Ability to operate at scale in a regulated, high‐control environment