Financial & Propriety Analyst

Role Objective

To provide an accurate, efficient and comprehensive service to ensure a robust due diligence process is completed to support all existing and prospective DA’s, AR’s and RI’s through the, on-boarding and leaving process and including the completion of an annual fitness & propriety review in order to promote positive customer outcomes.

  • To bring all enquiries into the Financial and Propriety team to a conclusion, escalating matters as appropriate and setting expectations with both internal and external stakeholders regarding processes and timescales.
  • Manage the end to end process for all on boarding and annual financial and propriety activity. Conducting financial and propriety reviews in line with current processes and deal with any member queries and ensure that these are carried out accurately and within Service Standards.
  • Manage the end to end process for all Financial and Propriety activity, including the authorisation process for all AR and DA firms, registered individuals, introducers and referrals whether new to, or leaving the network, applying to change their control function or upgrade their authorisations, ensuring that these are carried out accurately and within SLA’s.
  • Adhere to the requirements of the authorisation process making sound decisions based upon the company’s RAG ratings and conducting appropriate analysis in-line with Fit & Proper guidelines. Identify and escalate matters accordingly at any stage to avoid any detriment to the end consumer and the wider business.
  • Build and maintain strong working relationships within the business and use your initiative to investigate and find solutions regarding any issues affecting the team or processes ensuring the objectives are accomplished.
  • Ensure that candidates’ expectations are managed appropriately and timescales are adhered to in respect of chasing outstanding information and documentation.
  • Complete relevant administrative processes to a satisfactory standard when and where required, creating and maintain candidate files ensuring these are accurate, compliant and complete.
  • To undertake any additional adhoc duties when necessary in order to support the business in achieving its overall objectives.
  • Meet your own and team objectives regarding final decisions on acceptability (or otherwise) of each applicant, including RAG ratings.
  • Applications are processed in-line with company SLAs relating to time (turnaround), quality and service.
  • All ancillary processes are completed within the agreed service levels and quality standards.
  • Best practice is applied in line with FCA regulations on fitness and propriety.
  • Identification of DA, AR and RI applications and financial and propriety reviews that require escalating to senior management and/or risk committee.

Role Competencies

Competency name Level
Managing Self 2
Communication 2
Adding Customer Value 2
Competency name Level
Teamwork and Collaboration 2
Pro-activity and Change Management 1/2
Risk Management 1
TCF 2

Selection Criteria

The following criteria will be used in the selection for this post. You may not have all these attributes or you may have weaker skills and evidence in some areas with strengths in others. The selection decision will be based on the requirements of the job and how well your particular skills, knowledge and approach enable you to take and succeed in the role. You should have most or all of the following:

  • Ability to work under pressure
  • Excellent attention to detail
  • Computer literate specifically Microsoft Word and Excel
  • Strong administration skills
  • Good communicator
  • Self-organised
  • Enthusiastic
  • Eager to learn
  • Positive and goal orientated
  • Strong team player
  • Financial and propriety review criteria and process
  • Personal Touch recruitment criteria
  • Personal Touch training & competence requirements
  • Basic knowledge of financial services products
  • FCA requirements regarding individual and firm fitness and propriety
  • Compliance/financial services / customer services experience
  • Administrative background, ideally within professional services
  • Liaising with & working alongside the FCA or other regulatory body
Essential

  • Educated to GCSE level (Grade C or above) Maths and English

Desirable

  • R01 qualification

Vetting Requirements

The following vetting procedure will be carried out when recruiting to this role:

  • 5 years referencing
  • DBS check
  • Credit Check

Regulatory Requirements

Treating Customers Fairly

The Team Administrator must have a clear understanding of the concept of Treating Customers Fairly (TCF) and how Personal Touch seeks to comply with this FCA requirement.

Responsibility, both individually and jointly with the other managers of the Personal Touch Management Group for ensuring that at all times the firm and the network treat their customers fairly (TCF) in accordance with the FCA Principle 6.

The Team Administrator will be responsible to the Credit Control and Solvency Manager for ensuring that any and all processes and procedures within his/her remit complies fully with Personal Touch’s TCF policy.

 

Three Lines of Defence Model

The Personal Touch Group operates a “three lines of defence” controlled environment as described below:

First Line of Defence

Accountability

Second Line of Defence

Accountability

Third Line of Defence
Approved Persons and Senior

Managers in all Business Areas

Risk and Compliance Team Internal Audit
Accountable for:

 

The promotion of the fair treatment of customers at all times

Having sufficient resource and competent personnel to carry out risk assessment(s) and mitigate risk effectively

Having adequate systems and controls to support the Risk Management Framework

Having appropriate quality assurance and governance arrangements in place to detect and mitigate emerging risk issues

Where mitigation of risk depends on other business areas or third parties, obtaining effective “buy in” from other business areas/third parties

All risk decision making

Identifying and managing

risks and Incidents via the Personal Touch risk framework

Accountable for:

 

Maintenance of Risk Management Framework document

Providing challenge to first line of defence business areas on the effectiveness of their risk assessments and mitigating actions

Oversight of the management to ensure that risks and incidents are identified appropriately

Monitoring the FCA Conduct

Risk horizon and alerting the business to issues that may impact Personal Touch

Undertake periodic risk

assessments and compliance monitoring reviews to assess the effectiveness of the systems and controls and

to ensure the business is regulatory compliant

Accountable for:

 

Conducting audits of the first and second line of defence to assess the effectiveness of the Risk Management Framework

Note: The Board supported by Internal Audit and both the Audit and Risk Committees monitor the overall risk profile of the firm, and ensure that adequate financial resources are maintained.

This role is confirmed to be in the first line of defence.

Download a PDF copy of the Financial and Propriety Analyst