Description of the Business Line or Department
The Commercial Department is responsible for the profitable management and the strategic direction of the Private Banking Teams in the UK, Channel Islands and Gibraltar. The Commercial department is responsible for implementation and the development of the business through intelligent planning, reliable operations, providing a robust governance framework and creating productive relationships with the Commercial and Client Service Group teams.
Business Assurance, as part of the Business Management Office, forms an integral part of the Commercial function. The team dynamic brings a cross section of skills supporting all front office teams. The team are a ‘go to’ point for guidance.
Summary of the key purposes of the role
Monitor the internal control environment for Commercial in all jurisdictions, to establish that it is robust and meets local regulatory standards.
Provide client facing staff with feedback and coaching to ensure that procedures and regulations are adhered to and promote a ‘right first time’ culture.
Input into reporting requirements and ensure risks and issues are escalated accordingly.
Summary of responsibilities
- Work in collaboration with the group wide Business Assurance team to undertake the timely execution of all necessary first line of defence control activity
- Review client documentation for new investment accounts and additional portfolios to assess adherence to regulatory requirements, quality of client documentation and risk profiling (suitability)
- Review annual client suitability reviews to ensure that the client’s investment objective, risk appetite, ability to withstand loss and knowledge and experience is compatible with the investment strategy recommended
- Review adherence to cross-border guidelines for client facing Commercial staff
- Review credit advice documentation for regulated and unregulated mortgages, Consumer Credit Lending and mid-term reviews for regulated interest only mortgages to ensure adherence to regulatory requirements, and quality of documentation
- Co-ordinate and assist with vulnerable client situations
- Assist with the resolution of client complaints
- Perform call monitoring of client facing staff to ensure correct behaviours are being adopted, in line with SGKH Code of Conduct
- Provide feedback and guidance to client facing staff and ensure the closure of remediation actions
- Maintain version control of client facing documentation and procedures
- Maintain version control of Business Assurance policy and procedures
- Provide regular reports to the Head of Business Assurance
- Perform all duties in accordance with the principles outlined in the SGKH Codes of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long-term sustainability of client relationships
- Proactively suggest improvements to processes and procedures which will reduce risk, increase productivity amid ongoing desire for the business to simplify and ensure first time right culture