Job description

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  • Location:
    Agnostic
  • Employee Type:
    Permanent
  • Department:
    IWI Compliance
  • Division:
    IW&I
  • Employment Type:
    Full time
  • Salary:
    Competitive

Detriment Analyst (4160)

We're one of the UK's leading investment management companies, with responsibility for over £40 billion of client assets. We've worked closely with clients and their trusted advisers for many years and gained a unique understanding of the specific needs of our clients.

Investec Wealth & Investment seeks to deliver exceptional levels of customer service and has been trusted to meet the needs of private investors for almost 200 years. But our eyes are focused on your future.

Right now we're a team of over 1400 dedicated professionals located across 15 sites in the UK. We're looking to strengthen our team and need you to come on board and make a difference.

Research shows that some candidates can be reluctant to apply to a role unless they meet all the criteria. We pride ourselves on our entrepreneurial spirit here and welcome you to do the same – if the role excites you, please don't let our person specification hold you back. Get in touch!

Role: Detriment Analyst

Location: Any Investec Wealth & Investment office including London. 

What does the team do?

Detriment Team is responsible the development, implementation and maintenance of the IW&I Detriment policies and practices.

Specific responsibilities include:

  • Engage with Operational Risk and Senior Management with other members of the Detriment Team on all matters relating to possible and actual detriment issues and wherever possible provide recommendations regarding mitigation within the business.
  • Ensure that detriment data is complete, accurate and timely.
  • Ensure that relevant regulatory requirements are evaluated and complied with.
  • Escalate detriment exposure to IW&I Senior Management and Operational Risk which is over and above the agreed limits.
  • Prepare the relevant detriment logs and reports and distribute to the agreed departments/Teams within the business.
  • Support other members of the Detriment Team.

What does the role involve?

To assist and be pro-active with other members of the Detriment in all aspect of their role and to come up with recommendations by the Team that are designed to help reduce inherent risks and prevent/minimise IW&I losses through preventative steps or actions wherever possible.

  • Identify and keep separate record of potential Detriment cases.
  • Discuss strategy for unusual/difficult cases with Investment Risk Manager (IRM).
  • Attribute case number and record case details on Payment Sheet.
  • Open file in Detriment Cases and transfer relevant information to file. Constantly update files with any relevant information.
  • Liaise closely with IRM as to how cases are to be resolved and where necessary speak to IM's.
  • If required, write high-level Case Reports for senior management prior to escalation to Detriment Committee. Present case to Detriment Committee to gain consensus on outcome.
  • Assess BAU cases as to whether there is Detriment and if so pass to calculation team where refund of fees is involved.
  • Collect Risk Event Forms prior to payment.
  • Where necessary complete Detriment Form and send with Risk Event Form to Detriment Payments for payment.
  • Monitor when payments are made.
  • Once payments have been made upload onto Payment Sheet along with details of any return of fees/commission.
  • Attend regular Operational Risk meetings in order to update team on current status with outstanding cases.
  • Monitor all cases within Detriment team to ensure resolution in an orderly and timely fashion.

What skills and knowledge are we looking for?

  • A good working knowledge of Microsoft Office (Excel, Word and PowerPoint)
  • A good understanding in all aspects of Investment Management.
  • Communication – ability to engage with a wide range of colleagues and articulately discuss / write report on various issue (verbal / written / presentation).
  • Attention to detail – to pick up on errors and produce accurate work, with strong analytical capability
  • Strong interpersonal and relationship skills

Other attributes that would be helpful, but not essential for the role.

The following qualifications would be preferable but not essential:

  • Extensive experience within a Detriment Team or within the Securities business.

 

Meet the recruiter

Charmaine Bannerman

https://www.linkedin.com/in/charmaine-bannerman-b405482b/

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Benefits

Pension
Private Medical Cover
Virtual GP
Gym Discounts
Psychologist Service
Annual Leave
Life Assurance