Vendor Manager - Regulatory Control

  • Competitive + bonus + benefits
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • SEI Investments (Europe) Ltd.
  • 16 Aug 18 2018-08-16

The Vendor Management team provide wide ranging support for all SEI business areas concerning the governance and management of third parties. You will ensure a consistent and appropriate level of oversight is applied to all SEI's vendors in line with FCA regulations and SEI's own corporate third party risk program. You will be responsible for the governance of critical operational vendors, custodians and cash banks to support the business lines in achieving quality services for SEI's clients. A varied role, where no two days are the same and there is significant involvement in a variety of internal and external initiatives.

Key Objectives:
› Preparation and Analysis of vendor Due diligence for banks, custodians and critical operational vendors.
› Administration of all external banking, custody, and critical operational vendor legal agreements, fee schedules, invoices, SLAs and other governance documentation.  
› Support the Senior Vendor Manager in maintaining external relationships with third party providers.
› Account control: ensure complete and accurate records for external cash and securities accounts and that they fall into the account control environment and regulatory obligations are met.
› Provides support in the controls around the RP – “Resolution Pack” - CASS Chapter 10

Responsibilities include:
› Monitor the Annual vendor due diligence review with incorporating requirements of vendor management program, departmental requirements and the regulatory requirements. Implement and maintain specific and detailed evidence of CASS due diligence requirements.
› Liaise with internal partners and with external vendors to provide support to resolve issues on a relationship level (as an escalation point).  Attend and document governance meetings as required and provide support for vendor owners to manage relationships effectively.
› Act as a point of contact for banks, custodians and critical vendors and provide assistance to internal partners to help achieve the best outcome for issues escalated to the Vendor Management team.
› Prepare, maintain and present monthly vendor management analysis to CASSCo including risk reports and risk assessments.
› The CASS Resolution Pack (RP) is one of the key areas of investigation by the regulator to determine a firms overall compliance with CASS. Asses the current RP material, document and prepare material as required under the regulations and for commercial reasons. Maintain the structure that allows the firm to adhere to the regulations.
› Monitor the SIEL cost base related to Banks, Custodians and outsourcing services. Monitor the service market for changes in the pricing models. Develop a regular commercial review as part of the annual due diligence review for SIEL’s bank and sub-custodian network.
› Take ownership of the account control environment, including external and internal account opening, keeping account records accurate and ensuring client money trust letters are current.
› Monitor breaches and assess impact, root-cause analysis and remediation action as necessary, maintain and monitor breach register and related Risk Reporting (Accelerate).
› Monitor changes to CASS rule book and the banking market and asses impact to SIEL Infrastructure.
› Identify potential new service providers in the market for SIEL and its customer base.
› Keep Current – (market conditions, regulations, SEI products and services, etc) and maintain ongoing and effective communication and alignment of these with client business practices;
› Support Training Structure – present CASS and Vendor Management training to multiple levels across the SIEL and other SEI locations.
› Any other ad-hoc projects as required.

Best Practice:
› Adhere to all relevant FCA requirements and compliance.

Technical Capabilities/Skills & Experience Required for the Role:
› Degree (or equivalent) calibre with credible regulatory experience from an investment banking, wealth management or private banking industry;
› Detailed knowledge of the FCA regime for client assets;
› Knowledge of industry dynamics, business strategies, products and operating platforms would be advantageous;
› Proficient IT skills – including intermediate experience in excel and databases;
› Excellent verbal and written communication skills; exceptional interpersonal skills and ability to communicate comfortably with both clients and senior managers;
› Ability to work independently and flexibly and in a busy and changing environment;
› Excellent organisational and problem solving skills influencing and negotiation skills.
› Ability to manage several tasks concurrently in a fast paced environment

SEI is an equal opportunities employer

About SEI
Now in its 50th year of business, SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2018, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $882 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $331 billion in assets under management and $545 billion in client assets under administration. For more information, visit seic.com