Location: London, EC4A (currently remote working)
Reporting to: Chief Financial Officer
Contract: 3-6 month fixed term with possibility of extension, 3-4 days/week. Employee or consultancy (subject to HMRC tests)
Salary: circa £65,000 FTE
Date closes:Thursday, 30th July, 2020
Big Society Capital (BSC) is developing a number of Client Investment initiatives in partnership with third parties to encourage increased capital flows into high impact investments. Specifically BSC is developing a Fund of Funds model to mobilise public sector and institutional capital into the ‘Everyone In’ initiative to provide more stable longer term accommodation and specialist support to street homeless who have been temporarily housed in hotels during the Covid lockdown. As this initiative is developed at pace a key requirement for success is to ensure that all aspects of BSC’s operational processes over and above the core investment process are ready to support delivery of the Product(s) and deliver a high standard of service to Client(s). Working as an integral part of the Project team the Consultant will manage and deliver the operational aspects of the Everyone In project and ensure that robust risk management, regulatory, operational and compliance frameworks are in place.
- Working across all BSC teams review existing operational processes in the following areas, make recommendations in line with best practice for how they would be applied to ‘Everyone In’. Lead on project implementation of key aspects of these as part of a broader project team.
- Governance (including Governance interfaces with 3rd Party partners)
- Management Information and Reporting
- Valuation process for Fund investments
- Investment Allocation Policy
- Operating procedures
- Best execution
- Transaction recording and reporting
- Financial promotions
- Regulatory disclosures and reporting
- Conflicts of interest
- Customer conduct and treating customers fairly
- Lead and manage non-investment aspects of due diligence exercises being undertaken by third party partners, including completeness and robustness of documentation, responding and co-ordinating follow-up questions etc.
- Support the overall Project team from an operational readiness perspective, challenging where appropriate. Attend weekly update meetings of that team.
- Working as part of the overall Project team ensure a high level of client service ethos is embedded in BSC’s culture.
- Lead and manage selection process of third party service providers that BSC will be responsible for (eg AIFM, Custodian, Valuer, Auditor) and make recommendations to BSC Exco and ARCC
- Ensure clear processes in place for all ongoing interfaces with third party service providers supporting Client investment initiatives that BSC is responsible for, including management of SLA’s.
- Oversight and co-ordination of the review and updating of policies, manuals and risk assessments to support Client Investment working in conjunction with Head of Legal, Compliance Manager, Head of HR (note detailed re-writing of Policies will be outsourced or handled by another member of the team).
- Provision of reports to Exco and Audit Risk and Compliance Ctte (ARCC) and BSC Board as and when required. Attend and present at relevant meetings of these.
- Co-ordinate fortnightly meetings of Everyone In Operational Readiness Group (this is a sub-group of the overall Project group)
- Ensure BSC’s enterprise risk management framework sufficiently encompasses risks relating to Everyone In activities and develop Risk Register for the Project
- Escalate issues to the Head of Legal and/or the Chief Financial Officer and, where relevant, assist in the resolution of issues identified.
Skills and Experience
- Middle/Back Office experience in managing risk, regulatory and operational issues, including Client Money aspects in an asset management / Private Equity environment.
- Track record of successful project management
- Detailed knowledge of FCA regulatory requirements for a UK regulated financial institution
- Significant experience in the selection and ongoing management of third party service providers (eg Administrator/Custodian/Valuer/Auditor)
- Knowledge of key compliance requirements (including MiFiD, SMCR) in an FCA BiPRU regulated firm
- Real Estate investment knowledge (desirable not essential)
- Relevant professional qualifications
Skills,Abilities & Attributes
- Very strong communication skills
- Systematic approach to work with high attention to detail
- Strong project management, research and analytical skills
- Approachable and strong team player but able to work self-sufficiently
- Flexible and willing to take on different tasks as required
- Enthusiastic, proactive and confident
- Resilient and can cope with ambiguity and change
- Well organised and able to prioritise
- Good at finding innovative solutions to problems
Other terms of employment
- All applicants must have an existing Right to Work in the UK
- Big Society Capital is committed to being a diverse organisation that is truly representative of the communities we serve. We are an equal opportunities employer with an inclusive environment where all employees can contribute to their fullest potential
FCA Certification not required