Client Onboarding Executive - Wealth Management London, England
Rothschild & Co
Full Time
London, England
10.56 - 12.04 GBP Today
Job description
About Us
As one of the world's largest independent financial advisory groups, we know that it takes a distinct perspective to make a meaningful difference to our clients’ business and wealth.
As one of the world's largest independent financial advisory groups, we know that it takes a distinct perspective to make a meaningful difference to our clients’ business and wealth.
Rothschild & Co is a global and family-controlled group. We provide M&A, strategy and financing advice, as well as investment and wealth management solutions to large institutions, families, individuals and governments, worldwide.
Having been at the centre of the world's financial markets for more than 200 years we can rely on an unrivalled global network of more than 3,800 talented employees and a track-record of outstanding execution with 60 offices around the world.
Our integrated global network of trusted professionals and decision makers around the world provide in-depth market intelligence, meaning we can be closer to current issues than any other global financial institution in our core markets.
It is this scale, local knowledge and intellectual capital that allow us to provide a distinct perspective and effective long-term solutions for our partners.
Rothschild & Co Wealth Management
Within Private Wealth Management we offer an objective long term perspective on investing, structuring and safeguarding assets, to preserve and grow our clients’ wealth.
We provide a comprehensive range of private wealth services to some of the world’s wealthiest and most successful families, entrepreneurs, foundations and charities. In an environment where short-term thinking often dominates, our long –term perspective sets us apart. We believe preservation-first is the right approach to managing wealth.
The Onboarding Team
The Onboarding team is part of the Front Office Support function which sits between the Front Office and the other departments of the business.
The Onboarding team is responsible for the timely and compliant take-on of all new clients. These include accounts for individuals and ISAs as well as for companies, trusts, pensions, charities and insurance wrappers. The team review and approve all low and medium risk clients and complete the review of high risk and PEP clients before escalating to Compliance for approval. They are also responsible for reviewing new clients with regard to investment suitability, FATCA, CRS, QI withholding tax and MiFID II transaction reporting.
The team are also responsible for the review and approval of all static data changes for existing clients, ensuring that the Front Office have followed the instruction taking procedure to protect our clients against fraud.
Overview of Role
We are looking to hire an Onboarding Executive who will report into the Onboarding Team Leader. The role involves daily direct contact with the Front Office teams and the senior management team in order to facilitate account openings and static data amendments.
The candidate is expected to demonstrate good communication skills as they will be occasionally dealing with clients as well as internal contacts. Also, they should show an ability to be creative when presented with a problem or error; the candidate should be able to generate ideas to improve current procedures and controls in order to prevent future errors and to make processes more efficient.
The candidate should be able to demonstrate a strong understanding of the regulatory framework relevant to the role, whilst grasping the importance of a smooth and efficient service for the Front Office teams and end clients.
Key responsibilities
- Review and approval of clients’ documentation and source of wealth information and evidence
- Responsible for managing the onboarding workflow for all accounts where they are the lead reviewer
- Responsible for the coordination and approval of systems set up including the client online access
Elements of the onboarding process
- Initial risk assessment of new clients to determine whether they should be escalated to the Compliance team for review
- Review of all client documentation including legal documentation, source of wealth evidence and client due diligence
- Review PEP / sanction checks and media searches to identify potential high risk factors
- Analysis of suitability assessment completed by the Front Office team and ensuring we have documented the process accurately
- Reviewing the FATCA, CRS and QI withholding tax documentation provided by the client
- Ensuring we have all necessary data related to the client including national identifiers and Legal Entity Identifiers for MiFID II
Day-to-day support and query resolution
- Providing guidance to Front Office teams with regard to required documentation for new clients
- Helping to ensure that the Front Office teams are adhering to internal policies
- Providing an example to the client service executives by showing strict controls and consistency with our policies in order to prevent regulatory breaches and internal errors
Project work and static data amendments
- Coordination and execution of project work, such as regulatory remedial exercises
- Review of static data amendment requests and ensuring changes are made correctly in the systems. This could be anything from a change of address to a complete change of trustees or perhaps a change of investment strategy
Teamwork
- Assisting the wider Front Office Support team with central tasks, such as regulatory projects
- Management and prioritisation of own workload
Key Competencies
- Experience of client onboarding in the financial services industry essential
- Experience of data management and system-based workflows
- Aptitude for problem solving and an ability to identify efficiency gains
- Strong IT skills including Excel
- Diligent and high level of attention to detail even when working under pressure
- Excellent oral and written communication skills
- Strong organisational and time management skills
- Self-starter and team player
Our goal is to have a balanced, inclusive and flexible environment which enables all colleagues to achieve their personal and professional aspirations, and to ensure that Rothschild & Co provides longer term opportunities for talent.
