Compliance Advisor

Job Purpose:

• To conduct business quality reviews in accordance with the business risk based business quality monitoring programme.

• Assess the quality of advice and adherence to the business standards and regulatory requirements and identify material risks to clients

• Provide feedback to advisers and sales management on the risks identified, together with the actions necessary to manage or mitigate the risks.

• Investigate complaints and expressions of dissatisfaction from clients in accordance with the regulatory requirements.

• Help ensure that the business is aware of trends and emerging risks by undertaking root cause analysis on complaints received and issues identified.

• Assist in training of new advisers and paraplanners and remedial training of advisers where required.

• Assist in ad hoc projects related to business quality.

Key Accountabilities:

• Conduct client file reviews, on both a pre- and post-sale basis, to determine whether it meets the requirements of the business and is compliant with relevant regulation.

• To provide effective, constructive feedback and determine and communicate the remedial action required to manage or mitigate the material risks identified.

• To ensure that the remedial actions are completed to a successful conclusion.

• To record and maintain appropriate records for all files reviewed and clearly document the investigation undertaken in relation to a complaint.

• Effectively manage the end-to-end journey for a complainant; from receipt of a complaint, through to conducting a fair and objective investigation and keeping the complainant informed of the progress and outcome.

• Work with various internal and external stakeholders to ascertain the grounds and legitimacy of any complaints received.

• Effectively communicate with complainants in a fair and clear manner, including producing decision letters and other relevant documents.

• To provide timely and accurate management information when required.

• Provide training to advisers and paraplanners, as required.

• Liaise with, and provide assistance to, other areas of the business in relation to case, advice and complaint related queries.

Knowledge, Skills and Experience:

Skills

• Communicating effectively with clients and stakeholders.

• Providing clear, constructive feedback and rationale.

• Effective time management, including prioritising work and meeting deadlines.

• Decision making, using evidence to form a view and communicate rationale, including investigating complaints and determining a fair outcome.

• Working effectively within a team.

Knowledge

• Obtained or be working towards relevant Level 4 qualification, e.g. Diploma in Financial Planning.

• Strong knowledge of advice process.

• Knowledge of the FCA DISP requirements and understanding of the requirements from the Financial Ombudsman Service (FOS).

• Knowledge of basic retail investment products.

Experience

• Industry experience in a relevant role in an FCA authorised financial services firm.

• Previous experience as paraplanner or adviser preferred, however not essential.