Senior Quality Assurance Executive

Job purpose

The Quality Assurance team plays a key role in the risk management framework of the Development Bank of Wales, contributing to the Group’s credibility and reputation as an effective and professional fund manager.

The role involves planning and design of compliance monitoring work, highlighting areas of non-conformity, weakness or vulnerability and involvement in the design and implementation of procedural change and controls to maximise efficiency whilst operating within the Group’s risk tolerances in respect to:

• Management of Investment, Portfolio and Property Services file sampling
• Design of thematic reviews and deep dive activity
• Coordination of Investment procedures and document templates
• Support and advisory for compliance related matters
• Management of impact data validation and reporting
• Central management of Group Compliance Training
• Support for the preparation of reports for Senior Management, Audit & Risk Committee (ARC) and Board
• Support with reconciliations and regulatory submissions to ensure Client Asset (CASS) compliance in accordance with the Financial Conduct Authority requirements. 

The role supports the Compliance Manager in designing and managing the timely and accurate delivery of compliance monitoring activity and reporting across the Group.

The role entails the performance management, development, supervision and guidance of direct reports, and as custodian of best practice with regard to investment procedures will require regular cross-team working including active involvement in projects to improve operational efficiency. 

The postholder will support the design and delivery of appropriate compliance training and guidance to colleagues at all levels across the business, promoting effective knowledge transfer. 

Main Duties and Responsibilities:

• To design and implement effective pre and post-investment qualitative reviews of Group investment files to ensure adherence to Internal Operating Guidelines (IOGs), investment procedures and Group Policy and maintaining accurate records of file sampling activity. 
• To design and carry out thematic reviews and deep dive sampling on a risk-based approach.
• Where recurring gaps are identified, undertake root cause analysis and support the operational teams in the design and implementation of effective controls.
• To provide regular feedback of file sampling results and key findings to Fund Managers.
• To ensure file sampling activity is timely and consistent with regular summary data provided to the Compliance Manager to support Senior Management and Board reporting.  
• To manage the monthly validation of all impact data relating to investment activity, ensure accurate reporting and provide feedback to investment teams.
• To support with the physical reconciliation of security documents, regular CASS reconciliations and maintain relevant documentation to support the Compliance Manager with meeting CASS compliance.
• Provide support and advisory services for operational teams in relation to Group Policy, procedure and guidance, including; AML, Customer Due Diligence, the Consumer Duty Principle and dealing with vulnerable customers, Complaints Process, impact data and the Group’s operational processes.
• To ensure effective central Management and communication of changes to investment templates, guidance and operating procedures.
• Work with the Compliance Manager to consider the implications of new compliance regulation or legislation and work with the operational teams to ensure changes are integrated into operational policy and procedures.
• To support the development and delivery of a framework of compliance training.
• To line manage Quality Assurance Executives providing motivation, guidance and support and ensuring adequate resource for file sampling activity.
• To deputise for the Compliance Manager as and when required.
• Any other task as may be defined by the Compliance Manager to meet the operational needs of the department.

Knowledge, Skills, Abilities and Experience

Essential 

• Self-motivated, with the ability to take a proactive approach and work effectively without supervision.
• Strong interpersonal skills and an ability to communicate and influence effectively, challenging for further information where necessary, across all levels of the Development Bank of Wales Group.
• Ability to lead and motivate others.
• Able to manage and organise work under pressure and to meet deadlines.
• Drive and determination to complete work accurately, consistently and to a high standard.
• A comprehensive and detailed knowledge of the different funds managed by the Group, and the respective investment and monitoring procedures associated with the full range of Group investment structures.
• 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 an understanding of risk management procedures and practice and be able to apply it to the Development Bank of Wales Group.
• Experience of working in a financial/numerate or audit/regulated environment.
• IT/PC literate and able to use Microsoft Office Packages 

Desirable 

• An understanding of the obligations on financial services businesses in combating financial crime.
• An understanding of the obligation on financial services businesses to meet the FCA’s Consumer Duty.
• Familiarity with Group IOGs and investment procedures and a broad understanding of debt, mezzanine and equity investments.
• Welsh speaker.

Apply

To apply for this role, please go to our recruitment page