Suitability QC Reviewer

Rathbones; Liverpool; On-site; GBP 42,000 - 56,000; Full time

Job summary

Rathbones is seeking a Quality Control professional to help ensure suitability of client recommendations within Investment Risk. You will document assessments, justify decisions, and support the Front Office to meet FCA requirements.

Role involves collaborating with colleagues to enhance file quality, addressing potential conduct risk, and training teams on suitability processes. Strong regulatory knowledge and attention to detail are essential.

Qualifications

• High attention to detail and strong numerical skills.
• Good written feedback to colleagues.
• Strong understanding of the UK regulatory framework and suitability requirements.

Responsibilities

• Understand how client records evidence suitability and assess whether advice is suitable for clients.
• Ensure client files provide sufficient justification of suitability for future challenge.
• Engage with colleagues to help files reach required standards and report findings.
• Provide technically appropriate answers to Front Office queries.
• Challenge Front Office on suitability judgements when appropriate.
• Follow up on past feedback to ensure required actions are taken.
• Escalate issues detected in file reviews, such as potential conduct risk issues.
• Provide support and training on Suitability to Front Office and other Rathbones teams.

Skills

Attention to detail

Written & numerical skills

IT literacy

Communication

Feedback writing

Regulatory knowledge (UK)

Suitability requirements

Client vulnerability

Tax wrappers awareness

Responsible investment awareness

Job description

These are exciting roles based within the Quality Control (QC) team of Investment Risk working with the Front Office helping to ensure Rathbones fulfils its suitability obligations set out by the Financial Conduct Authority (FCA) in its regulations and Rathbones internal guidance.

In accordance with our ongoing duty of care and obligations, we are required to demonstrate the suitability of our recommendations to our clients have been appropriately considered and justified at both the initial time of application and throughout the client lifecycle, and our clients are receiving suitable outcomes. To demonstrate suitability for posterity and provide evidence when subject to challenge, we need to document our suitability assessment i.e. what we have done, why we did it and when we did it. This is documented in the form of the About You Investment Mandate (AYIM) for existing clients and the initial About Your Investment Mandate (Welcome Letter) for new clients.

What you’ll be responsible for

• Understand how client records evidence suitability and be able to assess whether the advice given is suitable for our clients.
• Ensure the YIM/Client file provides enough justification of the suitability of any recommendations made to our clients to ensure it can stand up to any future challenge.
• Engage with colleagues to aid and support in helping files reach the standard required and report the findings accordingly.
• Provide technically appropriate answers to Front Office queries.
• Provide challenge to the Front Office on suitability judgements when appropriate,
• Follow up on past feedback to ensure any required actions are taken.
• Escalate issues detected in the file reviews, such as potential conduct risk issues.
• Provide support and training in respect of Suitability to the Front Officer and other parts of Rathbones as required.

About you

• High attention to detail
• Good written and numerical skills
• Strong IT literacy and able to navigate new systems
• Able to communicate effectively
• An ability to provide written feedback to colleagues
• Good understanding of the UK Regulatory Framework
• Knowledge of Suitability requirements
• Good understanding of Client Vulnerability
• Good understanding of different types of ‘tax wrappers’ such as ISA’S. GIAs and SIPPs etc
• Have an awareness of Rathbones’ approach to responsible investment.