Posted:
8/30/2024, 9:57:48 AM
Location(s):
Massachusetts, United States ⋅ Boston, Massachusetts, United States
Experience Level(s):
Senior
Field(s):
Finance & Banking
At Franklin Templeton, we’re driving our industry forward by developing new and innovative ways to help our clients achieve their investment goals. Our dynamic and diversified firm spans asset management, wealth management, and fintech, offering many ways to help investors make progress toward their goals. Our talented teams working around the globe bring expertise that’s both broad and unique. From our welcoming, inclusive, and flexible culture to our global and diverse business, we offer opportunities not only to help you reach your potential but also to contribute to our clients’ achievements.
Come join us in delivering better outcomes for our clients around the world!
The Profitability Team is part of the larger FP&A group and is a highly visible strategic finance team that works collaboratively with Executive Management and Functional Leaders across the firm to develop and communicate Profitability results for both internal as well as external stakeholders. The team has primary responsibility for reporting on the operating margins for the company’s full line-up of investment products, which includes the support for the annual Fund Board 15c requirements as well as profitability reporting for the company’s Solutions (Asset Allocation) and Distribution Line views. In addition to working closely with FP&A teammates in support of Corporate Shared Services (CSS) and Public Markets Investment Management groups, the Profitability Team is also expanding its scope of responsibilities to include delivering financial FP&A support of Global Shareholder Services (GSS) and deepening its financial support of Global Advisory Services (GAS). This dynamic role embodies and demonstrates the Franklin Templeton values of putting clients first, building relationships, achieving quality results, and working with integrity. Our goal in Finance is to improve the quality of every business decision.
The Finance Director – GSS will be responsible for managing direct reports and / or coordinating with GSS staff and management to: 1) Oversee core financial functions such as budgeting, forecasting, variance analysis, management reporting, and P&L creation; 2) Update allocations in support of the company’s annual Fund Board 15c contracts and product rationalization; 3) Collaborate on other matters related to and impacting advisor financials and shareholder fees such as billing and allocating revenue to funds, invoiced charges and credits associated with outsourced sub-TA service provider, intermediary charges from omnibus recordkeepers; 4) Provide financial analysis support of outsourced serviced arrangement; 5) Support and help manage the monthly profitability allocation close process especially as it relates to GSS; and 6) Become proficient with existing and evolving reporting tools to help lead in the creation of meaningful management reports and scorecards.
Create annual budget, update monthly forecasts, and perform variance analysis against actual results.
Produce and analyze P&Ls based on sound understanding of revenue drivers and all underlying expenses.
Prepare and present reports to senior management, highlighting key findings and actionable recommendations.
Improve business intelligence by building out reporting capabilities, dashboards, and scorecards.
Oversee fee billing process and the attribution of TA revenue to products; model fee structures as needed.
Manage ongoing methodology changes prompted by events such as acquisitions and re-organizations.
Stay abreast of industry trends, competitive landscape, profitability, and best practices in allocations.
A successful candidate in this role is highly motivated and resourceful, a critical thinker and problem solver, detail focused but understands the big picture, an exceptional communicator and driven to produce accurate results.
Bachelor’s degree in business administration, finance, accounting or equivalent experience; MBA a plus.
At least 15-20 years’ progressive financial experience in the asset management industry supporting shareholder servicing / transfer agent businesses and their management teams.
Strong business knowledge and proven ability to partner closely with department heads.
Comfortable presenting to senior audiences including business heads and Fund Boards.
Solid understanding of mutual fund servicing operating models and of all underlying functional expenses.
Revenue modeling of various investor servicing fee structures utilizing multiple drivers.
Participation in and analysis of bi-annual ICI TA Billing Survey; comparison of fees to industry peers.
Experience creating transfer agent P&Ls and presenting to business heads and Fund Boards.
Thought leadership on expense allocations and TA profitability by fund; Exposure to 15c process a plus.
Oversight of fund billing process and how fees are allocated to individual products.
Sound understanding of servicing needs and margins of both direct-held and dealer-held / omnibus accounts.
Experience with activity-based costing, scenario analysis and ability to independently structure and develop analyses and presentations.
Proven ability to improve, simplify and make more efficient operating processes.
Proficiency in or ability to learn activity-based allocation tools such as Tagetik, SAP EPM, Oracle HPCM, or Anaplan.
Experience in or aptitude to learn P&L / data visualization reporting tools such as PowerBI and SmartView.
Advanced knowledge of MS Excel (formulas, pivot tables, charts, and graphs)
Knowledge of business desktop applications (MS Outlook, Word, PowerPoint)
Strong written and oral communication skills and the ability to present ideas and information in a concise, organized way.
Excellent analytical skills with strong attention to detail and the ability to translate complex data into actionable insights.
Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.
Seasoned professional understanding Accounting and Finance concepts.
Experience with project management and agile concepts, a plus.
Franklin Templeton offers employees a competitive and valuable range of total rewards—monetary and non-monetary—designed to support the whole person and to recognize their time, talents, and results. Along with base compensation, other compensation is offered such as a discretionary bonus, 401k plan, health insurance, and other perks. There are several factors taken into consideration in making compensation decisions including but not limited to location, job-related knowledge, skills, and experience. At Franklin Templeton, we apply a total reward philosophy where all aspects of compensation and benefits are taken into consideration in determining compensation. We expect the salary for this position to range between $155,000.00 - $202,000.00.
#DIRECTOR
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Our culture is shaped by our diverse global workforce and strongly held core values. Regardless of your interests, lifestyle, or background, there’s a place for you at Franklin Templeton. We provide employees with the tools, resources, and learning opportunities to help them excel in their career and personal life.
By joining us, you will become part of a culture that focuses on employee well-being and provides multidimensional support for a positive and healthy lifestyle. We understand that benefits are at the core of employee well-being and may vary depending on individual needs. Whether you need support for maintaining your physical and mental health, saving for life’s adventures, taking care of your family members, or making a positive impact in your community, we aim to have your needs covered. Learn more about the wide range of benefits we offer at Franklin Templeton.
Highlights of our benefits include:
Three weeks paid time off the first year
Medical, dental and vision insurance
401(k) Retirement Plan with 85% company match on your pre-tax and/or Roth contributions, up to the IRS limits
Employee Stock Investment Program
Learning and Education Assistance Program (LEAP)
Purchase of company funds with no sales charge
Onsite fitness center and recreation center*
Onsite cafeteria*
*Only applicable at certain locations
Learn more about the wide range of benefits we offer at Franklin Templeton
Franklin Templeton is an Equal Opportunity Employer. We are committed to providing equal employment opportunities to all applicants and existing employees, and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation.
Franklin Templeton is committed to fostering a diverse and inclusive environment. If you believe that you need an accommodation to search for or apply for one of our positions, please send an email to [email protected]. In your email, please include the accommodation you are requesting, the job title, and the job number you are applying for. It may take up to three business days to receive a response to your request. Please note that only accommodation requests will receive a response.
Website: https://leggmason.com/
Headquarter Location: Baltimore, Maryland, United States
Employee Count: 1-10
Year Founded: 1899
Industries: Asset Management ⋅ Finance ⋅ Financial Services ⋅ Funding Platform ⋅ Insurance