Sweta Jain: Insights from a Fund Accounting Supervisor at HSBC

In conversation with Sweta Jain, Fund Accounting Supervisor at HSBC, Before working as a Fund Accounting Supervisor she was an Assistant Manager and before that Fund Accountant at HSBC and later was promoted to her new post. She also worked as a Senior Accounts Executive at N Kejriwal & Company. We would like to understand the role and responsibilities of a Fund Accounting Supervisor from her.

 

1. Describe your work and work profile in a very simple manner?

   

I have 9 years of experience in the field of accounting and finance with a demonstrated history of working in the financial services industry. Currently, I supervise the operations of the Fund Accounting team in HSBC Securities Services in Ireland for the past 3 years. My tasks include finalization of NAV, work on fund launches and liquidation, regulatory reporting with the CentralBank of Ireland and European Regulators, providing innovative solutions to leading global clients for HSBC, and managing business risk in operations. I am responsible for the oversight of 2 teams in offshore locations.
 

2. Can you share your Daily Routine with us?

I'm happy to say that my daily routine is pretty disciplined. I wake up at 5:45 am then do a 30 minute meditation, later check my phone and leave for the gym and reach the office by 8:45 am. I then check my emails and plan the day, have my Breakfast, later work on the deliverables to ensure timelines are met, oversight of the teams in India and Sri Lanka. I surf the web in between for the latest news and updates. My work keeps me close to financial updates throughout the day. After work, I speak to my family in India on the way home. My evenings comprise studying, listening to music/podcasts, reading or surfing the web about travel, tech, productivity, self-improvement, and sports. I enjoy meeting new people and going out with friends. In my free time, I go traveling, photography, read blogs/books, do some research and catch up with family.

 

3. How did you reach this stage in your career?

• • During my studies for CA, I got a well-balanced, practical experience in different areas like Tax, Audit, Accounting, IT, Reconciliations, etc. and I soon discovered I want to be into accounting but something which is closely connected to Global Markets - didn't know if that combination ever existed.
• • After my article ship, I managed to get a junior role in HSBC Kolkata City office in the NAV calculation team. Slowly, I understood more about Fund Administration as a world in itself. I gathered the additional skills required for the role in the job and soon got promoted.
• • I worked for jurisdictions like the Middle East, Edinburgh, Asia and Ireland. I kept working on improving my skills to get better each day and eventually, I was selected to lead a project in Ireland. It was a delight to hear it and I was determined to deliver my best.
• • Those 3 months was one of the best times of my career - full of learning, highly enriching experience and travel memories, I received positive feedback at work and once again I got an opportunity to lead a project in the coming year, based on my tested skills.
• • This time, it was an exceptionally challenging experience but that turned out to be highly motivating.
• • What followed a few months later was a turning point in my career. I was fortunate to be accepted to a role at the Dublin office and things changed for me. I loved the work-life balance and people's respect for each other that I saw in Europe.
• • I have since traveled to over 15 countries and it helps me learn more each day and be a better person.
• • In a nutshell, I kept working hard and smart each day without thinking too much about the results. Looking back, I cannot imagine how small steps each day can make a big impact.
• • I believe that the secret of success resides in something as simple as our daily routine. With one stroke at a time, we can paint the masterpiece called LIFE.
• • To my younger self - "Don't worry if you don't know your long- term goals, keep working a little each day and you will be surprised to see the life you have created for yourself."

 

4. What skills should a candidate possess if he wants to take up a profession similar to yours?

Academically, knowledge about Global markets and a study in the field of Accountancy/Finance would be preferred to get into the Fund Accounting/Investment Funds Industry space. Additionally, the 5 skills mentioned below are highly valuable once you are on the job spa :

• • Strong understanding of fundamental concepts (for example the Golden rules of Accounting)
• • Communication and Presentation skills.
• • Attention to detail and commitment to high standards of output.
• • A beginner's mind, a problem-solving approach to discover innovative solutions.

 

5. What are the Pros & Cons of your profession?

Pros :

• • A wide gamut of job roles exists in the Funds Industry - giving us a lot of choices.
• • Wealth management is a need, not a luxury. Hence, the services of a Financial are needed more than ever.
• • A well-balanced domain for people who love accountancy and are passionate about financial markets.
• • Makes one highly disciplined and adept at multitasking.
• • Unlimited possibilities of interacting with new people and get global exposure.

Cons :

• • A huge risk is involved in the day-to-day operations. Negligence can prove to be very costly.
• • Client centricity, efficiency, and ability to multitask are mandatory.
• • Due to the fast-changing environment, it is challenging to keep you updated with the latest skills.
• • With Robotics and Artificial Intelligence making a way to the industry, we need to carve our value addition proposition as we go along.
• • Beyond select demographics, growth prospects can be limited.

 

6. What advice would you give to the fresher’s who are willing to venture into this line?

Dedication, discipline along keen interest to keep your skill set updated is a good way to go long in this field. Be open to new technology, research, and developments in the global environment. Working hard is not enough. Work hard AND smart - don’t bother about the outcome. I believe in being Open, Dependable, and Connected. The right attitude can make a significant difference even with a pretty decent aptitude.

 

7. Do you think getting a job abroad is possible if one doesn’t have connections or foreign study?

Yes, it is. Be patient and carve your specialization as you go along. With the right skills and attitude, the opportunities are endless. Be prepared to grab them when they come. Do not feel depressed when nothing works out, there is a bigger plan waiting for you if you are focused and ready to work hard and smart.

 

8. Mind the Time

Keep track of the time allotted for each session and the overall exam duration.
If no specific framework is provided, assume International Financial Reporting Standards (IFRS).
Prioritize high-value tasks, allocate dedicated study time for each subject, and take regular breaks to avoid burnout. Set realistic goals, adhere to a study schedule, and maintain focus to make the most of your available time. Effective time management ensures that you allocate sufficient time to each question, minimizing the risk of rushing through questions or leaving them unanswered.

 

9. Utilize Every Second

Avoid submitting your exam early. Use every available second to review and recheck your answers. If you finish your paper before the time, it is great because you have time to recheck your answer properly. Here are a few things that you should follow:

• Reset your calculator to ensure accurate calculations.
• Turn off background music mode to minimize distractions.
• Keep your rough work clean and organized. Save the relevant parts of the question on a separate sheet for flagged questions.
• Arrange all stuff that is required to use such as books, copies, markers, & all.

 

10. Strategic Flagging

If you spend only a few seconds on a question and plan to revisit it later, leave it unattempted and flag it. Only flag questions where you've spent some time and made an educated guess.
Flagging should be reserved for questions where you have invested some time and effort, and have made an educated guess based on your knowledge and analysis. By flagging only those questions, you can prioritize them during your review and ensure a more focused and efficient use of your time.

Final Notes

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