Solvency II Client Liaison Officer – (Officer) recruitment
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment management, investment research and trading and investment servicing. With USD$21.5 trillion in assets under custody and administration and USD $2 trillion in assets under management at December 31, 2010*, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.
* This AUM includes the assets of the SPDR Gold Trust (approx. $56 billion as of December 31, 2010), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.
Operating in the United Kingdom since 1972, State Street services customers in multiple locations.
http://www.statestreet.co.uk
Job Title: Solvency II Client Liaison Officer – (Officer)
Division: Global Services Edinburgh - Client Operations
Purpose of Role:
To ensure that all deliverables are produced and dispatched on time in accordance with client service level agreements and agreed quality standards. To manage client service and queries in relation to Solvency II data provision
Core Duties:
Management of Service Delivery
• Monitor and evaluate the continuing effectiveness of processes, system and procedures initiating remedial action as necessary
• Manage client communications in relation to production and data queries Ensure that KPI measures (where applicable) are achieved on a monthly basis and if the KPI is not green then initiate action to resolve
Manage Relationships / Communication
• Develop and maintain good relationships with senior staff both within State Street and with clients external parties
• Communicate effectively with clients, third parties and colleagues
• Ensure the immediate line manager and others, as appropriate, are kept aware of all issues/problems/queries/work in progress that may impact the quality of service being given
Self Management / Personal Development
• Manage own time and activities effectively (delegating where required) setting an example through good housekeeping and time management
• Take responsibility for personal development and training
• Keep up to date with legislative and regulatory changes affecting the business
• Actively participate in the objectives and appraisal processes by completing a self evaluation and suggesting appropriate development to ensure own effectiveness in a changing business context.
Solvency II Specific Duties:
Management of Service Delivery
• Supervise the Solvency II Proposition monthly delivery process and monitor the progress of deliverables completed within the team
• Supervise the delivery process of the monthly client Data Quality Report
• Work with the Data Analysts on the data profiling process, understanding root cause analysis if issues arise and undertake remediation action where required
• Work with the Data Analysts to deliver Data Improvement actions
• Quality control the GL reconciliation, liaising with Client Ops as required, capturing results within the Data Quality Report
• Quality control the Data Dashboard for set client base
• Maintain a register of client queries, issues and remediation
• Plan and manage all client deliverables with effective utilisation of resource with the support of the Solvency II Manager
• Review of monthly Solvency II data delivery for completeness and accuracy
• Liaise with IT Service Delivery to ensure successful and timely delivery of Solvency II monthly data
• Ensure that Solvency II Data Dictionary is maintained and kept up to date
• Develop and document all operating procedures for Solvency II delivery
• Assist in client on boarding process (including testing requirements)
• Identify issues and problems in the service delivery and take remedial action, keeping the Solvency II Manager/ Client informed
• Provide daily / weekly MI to Solvency II Data Services Manager which clearly identifies the progress of the team
• Ensure effective logging and resolution of enquiries within agreed timescales
• Deputise for Solvency II Manager when required
• Implement a change management process by Liaising with Client Change teams to ensure fund launches/closures are captured within Solvency II delivery
• Act as principle focal point for client’ shock events and management there of as per the Client SLA for Solvency II Data
Manage Relationships / Communication
• Act as a focal point for contacts and meetings with other departments (inc Data Owners) and external contacts such as clients and auditors, providing technical expertise on the service provided
• Participate in Service Reviews, audit visits and ad hoc client meetings when required
Work Parameters or Boundaries :
• FSA Regulations
• Solvency II Regulations
• SOC 2 Reporting
• Internal Procedure Manuals and Audit Requirements
• State Street Employee Handbook
• Performance Planning and Review System (PPR)
PERSON SPECIFICATION
Skills/Experience
• Fund Administration/Data Management experience essential, preferably at a large financial institution
• Bloomberg knowledge preferred
• Demonstrate good understanding Solvency II regulations
• Ability to manage day to day workflow of a team
• Experience of staff management
• IAQ qualified
Level of Education:
• Business degree from University/College or equivalent/ relevant market experience.
Talent Differentiators (as defined in State Street’s performance system)
• Leverage Talent
• Influence Courageously
• Collaborate for Results
FSA Regulatory Requirements
• Training And Competency
• In the main, GSUK operational entities do not carry out regulated activities and are therefore not regulated by the FSA. However, GSUK entities carrying out Unit Dealing and/or Cash Sweeping functions on behalf of their clients are regulated by the FSA. The majority of GSUK clients are also regulated by the FSA.
The training competence standards for GSUK reflect:
• Best market practice in non regulated areas as required by our clients; and
• Regulatory requirements for GSUK business areas undertaking Unit Dealing and/or Cash Sweeping activities.