About the Role:
The Reconciliations & Banking Team works to ensure Servaada is adhering to client money protection rules. The team undertakes daily internal and external reconciliations of client money accounts and assets, oversees funding from the Corporate accounts for shortfalls, and processes payments off the platform. They also complete checks on bank accounts and administer the uploading of payment files.
Reporting directly to the Reconciliations & Banking Manager, you will be key in both delivering team and individual targets within the appointed timescales and to the highest standards.
The Team Leader will be responsible for the day-to-day line management of the team, ensuring that the team are delivering work accurately and within expected timescales. In addition to this, you are expected to motivate, inspire and develop those staff so that they can grow in line with aspirations of the business.
Responsibilities:
Responsibility for overseeing and participating in the maintenance of the core team processes
* Supporting the company’s on-going CASS adherence
* Daily internal and external client money reconciliations & investigation
* Internal and external custody reconciliations & investigation
* Regulatory returns & claims
* Liaison with third parties such as fund managers and banks
* Nominee and investment manager payment processing
* Cheque processing and banking
* Manage the team to achieve an effective workflow, contributing towards an efficient execution of responsibilities
* Completion of daily checklist and control checks on processes completed by the team. Performing final assurance checks on all payments leaving the Company
* Work with the departmental management team to maintain a collaborative approach in achieving the department’s SLAs and KPIs
* Responsible for team development through structured one-to-ones, appraisals and individual training and development plans
* Remain up to date on all relevant external regulatory requirements and internal processes to ensure all procedures and processes are accurate and approved
* Handle escalated enquiries and complaints, liaising with colleagues to achieve resolution and ensuring that the customer has been treated fairly throughout the process
* Encourage and value ideas and initiatives
* Working with own team and the other Line Managers to define, manage and continually improve the team and business processes through projects or small changes
* Support teams and colleagues in other departments to ensure any breaches are raised and closed within set timescales and relevant preventative actions and funding are implemented
* Demonstrate flexibility during periods of high workloads; assist other services when required
* Support the business software infrastructure with user acceptance testing
* Achieve and actively maintain your skills and knowledge to adhere to the Training and Competence standards, undertaking Overseer activities as nominated
* Ensure that the risk management process is promoted, supported, managed and implemented effectively in the team. Liaise with the Ops Risk Team to identify and manage risk effectively
* Actively look to develop new processes and challenging existing ones, to maximize efficiency, accuracy and adherence to all Financial Conduct Authority regulations, particularly CASS 6, 7 & 8
* Ensure that Treating Customers Fairly (TCF) principles are adhered to, including raising any areas for concern with either Line Manager or Compliance
* You will, from time to time, be required to undertake other activities that fall within your capabilities as directed by management
Skills:
Essential:
* Excellent attention to detail
* Ownership and accountability
* Excellent interpersonal, organisation and communication skills
* Financial services experience
* Excellent drive, with ability to work unsupervised and under own initiative
* Ability to work well under pressure and to tight deadlines
* Intermediate knowledge of Excel
* Shows desire to develop through willingness to take on responsibility for challenging or high-stake tasks or projects
* A proactive and innovative approach to problem solving, applying logic and foresight to decision-making
* Proven track record in taking a lead within a team environment
* Proven track record in concern for and adherence to regulatory requirements
* CASS knowledge, in particular CASS 6 and 7 regulations
Desirable:
* Investment Operations Certificate (IOC) or equivalent industry recognised qualification
* Detailed knowledge of Novia internal systems or able to demonstrate a pro-active approach to mastering new systems and software
* Understanding of investments and investment products
Core Competencies:
* Motivating Others: The willingness and ability to motivate and inspire others by means of appropriate challenges, empowerment, rewards and recognition
* Teamwork: The ability to work co-operatively with others, to be a member of a team and work towards the purpose of a common goal. Building and maintain strong working relationships with advisers, Sales and colleagues
* Decision Making: The ability to make balanced and sound decisions by understanding issues, problems, and opportunities; comparing data from different sources to draw conclusions; evaluating the probable consequences of alternative solutions and selecting the most promising alternative
* Networking: Identifying opportunities and taking action to build strategic relationships between one’s area and other areas, teams, department, units, or organisations to help achieve business goals
* Client and Customer Focus: Add value to client/customer, adhere to Treating Customers Fairly principles, and operate as a true business partner
* Communication: Communicate clearly and concisely, tailoring content and style, with ability to make a positive impression on others
* Performance Focus: Demonstrate energy and enthusiasm, takes ownership, delivers results and improves personal performance
Application of Individual Conduct Rules:
Standard of conduct is reasonable under all circumstances relating to
* Must act with integrity
* Must act with due skill, care and diligence
* Must be open and cooperative with the FCA and other regulators
* Must pay due regard to the interests of customers and treat them fairly
* Must observe proper standards of market conduct