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London / Remote
£45,000 - £48,000

The opportunity

The Platform Operations Senior Administrator is responsible for a range of operational platform service delivery, relationship management and programme management activities. They act as one of the main contacts with Openwork Wealth Services Limited's (OWSL) third party platform service provider relationship. The scope of the role includes internal and external platform-related operational and customer servicing activities.

The role will involve providing administration support to OWSL committees and to other members of the team, including the Head of Operations and Senior Operations Manager.
Your responsibilities will include:
  • Acting as a subject matter expert for platform operations and DFM.
  • Acting as one of the main points of contact for all Platform operational and service related issues, development, testing and support.
  • Supporting the Senior Operations Manager in developing and implementing the operations target operating model in Concert with the OWSL Head of Proposition, who has responsibility for the overarching platform operating model.
  • Supporting the Senior Operations Manager in establishing, agreeing, monitoring and reporting the agreed operational service levels and key performance indicators, to achieve the platform Net Promoter Score (“NPS”) standards.
  • Developing, documenting and maintaining operational processes, procedures and controls, so that the OWSL Platform:
    • complies with the relevant regulatory standards;
    • at least matches industry best practice; 
    • minimises operational risk; and
    • allows the NPS standards to be achieved.
  • Monitoring operational activities and taking appropriate remedial action against agreed service levels and financial rate cards.
  • Responding to operational queries, errors, breaches and complaints; maintaining appropriate records, tracking resolution processes and ensuring items are fully resolved; Implementing root cause analysis, process changes, staff training and other learnings as appropriate. 
  • Supporting in the documentation of processes and procedures for key “hand-off” activities and contact points, for example:
    • The Openwork Partnership to platform service provider (and vice versa);
    • Platform service provider and transfer agent (again, vice versa); and
    • Project Concert and the platform service provider (vice versa).
  • Performing initial, regular and ad-hoc operational due diligence reviews of the platform service provider.
  • Supporting the Senior Operations Manager in developing and deploying an effective and proportionate oversight framework for the OWSL platform.
  • Identifying platform operational risk and propose mitigation and resolution to the Senior Operations Manager.
  • Supporting the Senior Operations Manager with the coordination, planning, undertaking and signing-off operational user acceptance testing.
  • Assisting the Senior Operations Manager on major OWSL change programmes; Involvement in the complete programme lifecycle (i.e. set-up through to post-implementation).
  • For the discretionary model portfolios:
    • executing and validating tactical asset allocation portfolio changes;
    • reviewing TAA changes; 
    • conducting timely execution reviews for discretionary related activities and the platform; 
    • maintaining and controlling platform user access; and
    • responding to technical operational queries associated with the portfolios or with the platform itself.
  • Liaising with the Senior Operations Manager or Head of Operations to ensure asset management requirements in relation to fund availability and settlement meet the expected standards.
  • Supporting the Senior Operations Manager to identify development needs for the team and deliver coaching as required.

What will you need to succeed?

  • Achieved the CISI Investment Operations Certificate (“IOC”) or similar qualification.
  • Previous experience (min. three years) direct operational platform experience.
  • Previous experience (min. five years) in the financial services sector or asset management.
  • Previous experience (min. three years) of managing a large third-party platform service provider relationship.
  • Project management experience is preferable.
  • Management of third party relationships.
  • Able to create processes and identify controls. 
  • A detailed understanding of:
    • retail investment platforms, the cash management, Adviser and Customer lifecycles; 
    • the wider UK regulatory environment;
    • investment products and services (notably UCITS funds and DFM services);
    • insurance products;
    • other wrapper products and services;
    • the structure of UK Platform agreements across a range of delivery models; and
    • distribution channels.
  • A good understanding of:
    • FCA COBS Rules relating to UK Platforms;
    • FCA CASS Rules;
    • Other UK/EU regulation relating to UK Platforms;
    • FCA prudential regulations; and
    • UK Financial Crime.
  • A strong individual with clear and high integrity, willing to challenge issues and concerns. 
  • High conviction in ensuring that the purpose of the role is fully met; focused and delivery-centric.
  • Able to develop and maintain effective working relationships, both internally and externally.
  • Strong written and oral communication, including the ability to articulate issues and solutions.
  • Effective, articulate, tactful and open in communicating with others.
  • Good analytical and evaluation skills, with close attention to detail.
  • Good process mentality to adequately record any findings and identify trends.
  • Strong time management skills and ability to work well under pressure; ensuring service levels/appropriate deadlines are met. 
  • Can assimilate information to understand the impacts/priorities when problems occur.
  • Initiative to resolve problems and present solutions, working collaboratively with others to reach resolution.
  • Willing and proactive learner who will help others and be part of the team.
  • Ability to work effectively in a team, both platform operations and the wider teams across The Openwork Partnership.
  • As a member of a small team within a wider structure, you'll need to be responsive and adaptive to change.

Why The Openwork Partnership?

We’re a dynamic, fast-paced and growing business with huge ambition. This is all made possible by the brilliant people who are part of The Openwork Partnership family. We’re investing heavily in the development of our people, continuously striving to give them the platform to reach their full potential.

We’re also very proud of our culture, having placed in the Top 100 Best Companies to work for again in 2020. The Openwork Partnership values and respects individuality and we are committed to building an inclusive culture and environment where you can balance a successful career with your commitments and interests outside of work. We believe that you will bring your best self to work if you are trusted to choose when, where and how you do it.

On top of offering a modern workplace with bags of development opportunities, we also offer a highly attractive benefits package to reward you for your hard work. This includes a competitive base salary, annual bonus, enhanced pension, critical illness cover, income protection and a range of other flexible benefits.

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