Head of Wealth Management recruitment

Job Introduction:
The primary responsibility of the person would be
 Reporting to the Directors and Executives of the Group
- to supervise and manage the Financial Advisors employed by the firm
- his responsibilities will include the administration and management of the office in UK
- to ensure compliance with the rules and regulations application on the firm adheres strictly to sound corporate finance business principles and practices and to high ethical standards. Employees must conduct business with client in a moral, ethical and legal manner in accordance with this overriding policy to ensure that the company observes at all times high standards of integrity and fair dealing, complies with best market practice, acts with due skill, care and diligence and deals with its clients.

Overall responsibility
- Manager must evidence that the firm regularly collates, analyses and uses management information to ensure its processes deliver fair outcome for its customers;
- Manager must demonstrate that the quality of advice provided to customers is adequately monitored to ensure its suitability;
- Manager must demonstrate that the firm identifies issues in any given area that could impact on the quality of advice you give to your customers;
- Manager must act upon findings appropriately and promptly ensuring remedial action is monitored; and continuously seek to assess and improve these processes and practices, reviewing these regularly or when there is a change in the firm’s structure, business practices and/ or strategy.
- Fully engage in the implementation of policies, procedures and arrangements for the identification, management and ongoing monitoring of conflicts of interest
- Clearly allocate responsibility and delegate authority to accountable individuals to ensure that those involved are aware of their involvement in order to carry out their responsibilities effectively
- Ensure that staff are compliant with the fit and proper requirements of FSA
- Maintain HR records including training.
- Hold staff accountable for the work assigned to them and requirements the staff need to follow in order to fulfill those requirements.

- Hold service providers (including group companies and outside service providers) accountable and ensure that the services delivered are in line with the contractual relationship.
- Report regularly on the performance of the service providers and ensure that the reports and responsibilities assigned to them are fulfilled.
- Ensure that Accounting Records are kept up to date.
- Ensure that all the tax requirements are fulfilled and adhered to.
- Raise awareness and ensure compliance of relevant individuals by ensuring:
- Regular training both at induction and in the form of refresher training
- The clear communication of policies, procedures and expectations
- Awareness of conflicts procedures forms part of the performance review/appraisal process
- Sponsor robust systems and controls and effective regular reviews to ensure that strategies and controls used to manage and mitigate risks remain appropriate and effective and that appropriate warnings and disclosures are issued to clients where necessary
- Utilize management information to remain sufficiently up-to-date and informed
- Support an independent review of the processes and procedures in place
- Ensure Client Centric Approach ensuring that “Treating Customer Fairly” is adhered to.

1. Strategy (formulate, implement and achieve)
Formulate and implement strategy with regard to:
- Setting of new business targets for the retail distribution channel with a view to increase fees earned and assets under management through sound advice and minimising of costs.
- Ensure that advisors commit to these targets upfront, and their progress to targets must be reported monthly (on a format that is agreed with the Executives).
- Formulate a strategy for AML compliance, and implement, and monitor compliance.
- Formulate a strategy with regard to compliance of all relevant legislation, implement and achieve.
- Formulate a retention strategy and ensure retention of existing business
- Formulate, implement and achieve an IFA strategy. Ensure that our products are the preferred products advised by IFAs. Train IFAs on our products. Increase the number of IFAs licensed to provide our products. Motivate existing IFAs to bring in more business.

- Ultimate responsibility for the distribution of product rests with the Manager
2. Establish and maintain long term relationships
- Ensure that all relationships are built based on honesty and integrity
- Develop, nurture and maintain proactive long term wealth management relationships
- Develop and maintain relationships with the Fund Manager and other stakeholders within the product provider group
- Co-ordinate marketing, sales and support services for certain (large) accounts
- Respond to enquiries and resolve problems of a complex nature
 

3. Service Delivery Management
- Ensure that sound advice is provided to clients with respect to long term – this involves a sound understanding of our products, the investment environment, tax, and risk, etc. This must be monitored and reported daily to the Executives (e.g. If an advisor breaches any requirement in the provision of advice, it must be reported immediately). Ensure that advisors have a good opening, advising and closing technique (that complies with FSA Treating Customers Fairly Requirements “TCF”)
- Ensure that the strategy that is formulated is communicated and understood by all the department to ensure successful implementation and achievement
- Ensure that a good admin/customer service team is built to facilitate good relationships with clients
- Ensure that the client dinners and other events involving clients are planned and approved in advance
 

4. Documentation
- Ensure that all documentation (marketing material) facilitates new investment and understanding.
- Draft and maintain procedure for all UK procedure manuals.
- Maintain all the files and records that are required under the FSA regulations and other Laws and Regulations applicable on the firm
- Records of each area of the business must be maintained in a manner to ensure compliance with internal group policies and regulatory and legal requirements
 

5. People Management
- Assist in the recruitment of new staff.
- Set up and manage performance criteria and targets for staff and evaluation of staff.
- Manage and motivate staff
- Train, develop and mentor staff

- Attend to issues around discipline and grievances and hold staff accountable
- Assigning tasks and setting up structures in the department and the company
- Maintaining a positive work environment
- Ensure continuous professional development of employees
- HR files must be maintained for each staff member in line with internal group policies and specific jurisdictional requirements of the laws and regulations
- Prepare sales budgets for approval and ensure compliance through regular monitoring. Staff must be held accountable and mentored to ensure that the targets are met.
 

6. Ensure Compliance
- Ensure that all transactions comply with legislation to preclude any reputational risk.
- Ensure that all FSA reports are drafted/reviewed personally before submission to the Executives for final approval
- Ensure that the office complies with health and safety requirements at all times
 

7. Reporting
- Ensure that accurate and good quality reports stats are submitted timeously.
- Internal Reporting
o Sales stats must be submitted daily, weekly and quarterly on approved templates.
- The following reports must be submitted every second week:
o Strategy
o Operational
o HR
o Administration
o Sales
o Risk and Compliance
o HOD Ops report
o Service Providers
- Board pack input must be submitted as required and on schedule
- External Reporting
o All FSA reports must be accurate and go through the sign off process before submission
o The reports must be submitted timeously