We are recruiting for a quality assurance executive based out of Wrexham.
The Quality Assurance team plays a key role in the risk management framework of the Development Bank of Wales. The team undertakes a range of compliance-related functions, including:
- Ownership and coordination of Investments and Help To Buy Wales (HTBW) procedures and document templates
- Central coordination of advice and guidance for compliance matters
- Key Performance Indicator (KPI) accuracy checks and reporting
- Investment, Portfolio and HTBW file sampling
- Central coordination of the Risk Register
- Audit and Risk Committee reporting
- FW Capital Compliance and CASS Reporting
- CRM Audit/checks
The role involves undertaking compliance monitoring work directly, highlighting areas of non-conformity, weakness or vulnerability as regards policies and procedures, and the design and implementation of procedural changes to maximise efficiency whilst operating within the Group’s risk tolerances.
The post holder will provide structured feedback on the qualitative performance of investment staff up to and including Fund Manager level.
As custodian of best practice with regard to investment procedures, the post holder will develop and deliver training and provide ad hoc guidance to colleagues at all levels across the investment side of the business.
The post holder will be responsible for engaging in operational projects with investment staff, the technical team and central services staff and ensuring that operational aspects of the investment process are effectively communicated and incorporated into project work.
Main duties and responsibilities
- To perform pre and post-investment qualitative reviews of Group investment files (both paper and electronic) to ensure adherence to Internal Operating Guidance (IOGs) and investment procedures is evidenced effectively and consistently.
- To identify and resolve instances where omissions or inconsistencies are identified on investment files.
- To ensure that data entry on IT systems is accurate and investment files are compiled in a consistent manner across the Group, and are fit for external review by stakeholders and auditors, thereby safeguarding the Group’s credibility and reputation as an effective and professional fund manager.
- To ensure that investment handover procedures are functioning consistently and effectively and where weaknesses are identified to design, implement and maintain effective operational controls
- To produce accurate reports of file sampling activity undertaken and maintain accurate, evidence-based records of the findings.
- To ensure that investment procedures remain fit for purpose through the identification of areas of vulnerability/inefficiency.
- To review the effectiveness of file sampling procedures and to recommend and deliver improvements through liaison with the Senior QA Executive and Portfolio Review Executive.
- To support in the control and maintenance of core investment templates (excluding legal) and investment operating procedures. Devise new templates as necessary.
- To develop and deliver training for relevant QA work as and when required across investment teams.
- Provide a centre of excellence for dealing with enquiries from investment staff, in relation to Customer Due Diligence, Key Performance Indicators and the investment process. Providing advice on best practice and referring investment staff to relevant available Guidance Notes, policy and procedural information.
- Any other task as may be defined by the Senior QA Executive to meet the operational needs of the department.
Knowledge, skills, abilities and experience
- Self-motivated, with the ability to take a proactive approach and work effectively without supervision.
- Drive and determination to complete work accurately, consistently and to a high standard.
- A logical and enquiring mind and an eye for detail. An ability to think “outside the box” and to present innovative solutions to problems identified.
- An ability to retain detailed information and to demonstrate breadth of view, in order that the implications of procedural change are understood across the business.
- To exercise sound judgement consistently, for example in the practical application of the Group’s risk based approach to Customer Due Diligence.
- To have a broad understanding of risk management within the financial sector and be able to apply it to the Group.
- An appreciation of the benefits to the Group of having high quality policies and procedures to underpin investment activity.
- Able to manage and organise work under pressure and to meet deadlines.
- Strong interpersonal skills and an ability to communicate and influence effectively, challenging for further information where necessary, with all levels of personnel across the Group.
- Experience of working in a financial/numerate or audit/regulated environment.
- IT/PC literate and able to use Microsoft Office Packages.
- An understanding of the obligations on financial services businesses in combating financial crime.
- A broad understanding of debt, mezzanine and equity investments.
- Welsh speaker.