Operational Compliance Associate

Leeds, England, United Kingdom

12/23/2024

Waystone leads the way in specialist services for the asset management industry.

Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now serving assets under management in excess of $2Tn.

Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.

Summary

The Operational Compliance Associate will have responsibility for the management and control of the Incidents and Breaches Register, which is held in within our Governance, Risk and Compliance system.

The core purpose of the team you are in is to ensure that we have completeness and accuracy on the reporting of breaches and incidents to ensure appropriate reporting and mitigating matters to ensure we are in line with our obligations to Depositaries, Clients and the FCA.

Essential Duties And Responsibilities

• Review of cases in ERMA ensuring narrative can be adequately understood by an external party if needed.
• Liaise with the business to ensure the narrative and remedial measures are correct, validated and designed to prevent repeat occurrences. There is a need to ensure you identify at an early stage any potential Data Protection or Client Money/Client Asset cases to facilitate prompt notification to key stakeholders.
• Where a material pricing error has occurred, ensure completion of price rework and compensation payments to investors as required.
• Preparation of initial notification forms for Depositaries as required.
• Managing a group mailbox and answering ad-hoc queries within 24hours where possible or holding replies issued where delivery is likely to be outside of those timeframes.
• Updating of ERMA to track progress of when a breach has been chased or returned to the business for further update.
• Monthly reporting on details of breaches to depositaries, clients, or the regulator
• Production of weekly and monthly MI and risk reports to senior management
• The analysis of trends and errors and requesting feedback on these from the business
• Undertake deep-dive work as required for discussions with Operational heads on any emerging trends from the last quarters breach data.
• Provide training and support to Operational areas in the use of ERMA for breach reporting.
• Provide support and cover for the oversight of the complaints register and final response letters.
• Provide support and cover for Anti-Money Laundering/Financial Crime activities. This includes screening, transaction monitoring, electronic verification, security issues, vulnerable customers, subject access requests and review of abnormal dealing activity.
• Supporting the continued development/enhancement of Waystone culture and conduct, in particular, with regard to the safeguarding of consumers’ interests.
  
  

Requirements

• Good communicator and team player
• Ability to think laterally and apply previous experience to new problems & displays adaptability to change.
• Ability to manage workload and prioritise in order to meet deadlines.
• Ability to identify and correct errors and learns from mistakes to prevent any future reoccurrence.
• Strong analytical and numerate skills as well as an “enquiring mind” particularly regarding attention to detail.
• Proven IT skills in the creation and management of spreadsheets
• GCSE (or equivalent) Maths and English
  
  

Experience

• Operational experience in fund administration
• Operational Risk management experience especially error root cause, remediation, and challenge to the business
• Depositary experience, in relation to operations and/or client errors and issues
• Operational Compliance experience
  
  

This is an ideal opportunity for a financial services professional transitioning out of their 1st role and looking for increased responsibility in a collaborative but fast paced environment. This will give you a strong insight into error management, complaint handling, Anti-Money Laundering and Financial Crime, which is often a bedrock for a successful career in 2nd line risk and compliance.