Openwork

Investment Analyst (Omnis Investments Limited)

Openwork — Fri, 08 Mar 2013 12:13:25 +0000

Department: Omnis

Salary: Negotiable, depending on experience (Managerial level)

Location: Swindon/London

Closing date: TBC

Background

Omnis Investments Limited is seeking regulatory permissions to act as the Authorised Corporate Director (ACD) for the funds it currently sponsors, together with the launch of additional fund ranges.

To meet its new regulatory responsibilities, a broad range of operational activities will need to be completed, some of which will be outsourced to market leading companies.

The Investment Analyst role will support Omnis’ extended responsibilities in applying review and controls over its chosen investment managers.

Job function

Ensure the ICVC schemes are invested in line with the investment objectives, and policy of the fund, so that it aims to provide a prudent spread of risk
Ensure the Investment Manager complies with the Investment Management Agreement and the Prospectus in managing the ICVC schemes
Ensure the ICVC schemes are managed in line with the investment and borrowing powers regulation set out in COLL 5
Oversight of fund performance reviews versus benchmarks

Main Accountabilities

Gathering and reviewing information necessary to govern the funds in line with the key functions outlined above
Reviewing pricing accuracy
Reviewing fund performance versus benchmarks
Identifying trends and highlighting potential issues regarding performance
Presenting and sharing information

Key Activities

1. Information Gathering and Review

Responsible for gathering the data for performance analysis
Review the fund’s adherence to investment borrowing powers as set out in COLL 5 and in the ICVC Prospectuses
Undertake spot checks, both desk based and on site at Investment Managers, to review pricing accuracy
Work with Investment Managers and other relevant third parties providing associated services to resolve issues and implement any necessary remedial actions or controls
Review SRRI calculations and cross reference to Investment Manager supplied data
Create trend analysis mechanisms to track experience and anticipate issues
Review Investment Manager adherence to Investment Management Agreements (IMA) and service level agreement (SLA) responsibilities, relating to the production and sharing of data
Make FVP decisions in conjunction with Investment Committee members

2. Investment Analysis

Evaluate, examine and report on the performance of the Omnis fund range and measure against benchmarks.
Provide advice and reports to the relevant Committee(s)
Report fund attribution analysis
Report fund price performance analysis
Review fund volatility and match to benchmark

3. Interpreting analysis in to marketing documents

Prepare data necessary to populate Fund Fact Sheets
Input and create any other required fund documentation

Key Relationships

Internal resources supporting Omnis activity
Omnis Board and its Committees
Attend Investment Committee meetings
Relationship contacts with numerous Investment Managers plus possible compliance and fund manger interactions at these firms
Third party relationships with:
- The State Street Group for Fund Administration (FA) and Depositary/Custodian functions
- International Financial Data Services (IFDS) UK Limited for Transfer Agent (TA)
- IFDS Managers Limited for compliance oversight activity on the TA, FA and Investment Management functions

Competencies/Skills

Strong analytical skills to give the ability to research, analyse and evaluate
Strong time management skills and ability to manage multiple work strands under pressure; ensuring service levels/appropriate deadlines are met
Can assimilate information to understand the impacts/priorities when problems occur
Effective, high integrity individual who is articulate, tactful and open in communicating with others. Includes an ability to influence, build trust and hold effective working relationships
A committed and loyal individual prepared to work the necessary hours; manages in terms of commitment and worth ethic by personal example
Responsive and adaptive to change
Numerate
Maintain a close attention to detail
Ability to accurately manage and analyse significant amounts of data
Initiative to resolve problems and present solutions
The ability to work effectively in a team;
Strong written and oral communication, including the ability to present effectively

Knowledge

Proven track record of sustained technical knowledge and experience within an investment operations environment
Theory and practice of Investment risk
COLL rule book and familiarity with interpretation of investment borrowing powers
Scheme documentation
PC literate, with a minimum of advanced level of excel skills (complex formulae)
Investment Management Certificate (IMC) or Investment Operations Certificate (IOC) or financial qualification is useful but not essential

Applying and more information

If you’d like to apply, please send an email, attaching your CV, to sara.winslow@openwork.uk.com

Note to agencies: Openwork has a Preferred Supplier List and we are not looking to engage with any agencies outside of this. Please do not contact us if you are not part of this agreement. We will not have the capacity to take your calls.

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Announcing our new protection needs analysis App

Paul Shearman — Mon, 25 Feb 2013 15:24:36 +0000

We’ve launched an exclusive ‘App’ aimed at helping our advisers to assess their clients’ protection needs via Apple mobile devices, while on the move.

Life Calc enables our advisers to quickly calculate their clients’ protection needs for life, critical illness, income protection and whole of life cover, based on their current circumstances. Users of Life Calc will be able to visually demonstrate any gaps in protection cover and results can be emailed directly to the client or adviser from within the App.

In addition to Life Calc, we’re also developing Lender Source – an App built in conjunction with Mortgage Brain. Lender Source enables advisers to source mortgages from our panel of lenders and get mobile access to mortgage calculators.

Advisers will be able to filter and save schemes based on their clients’ individual requirements, with the App providing a visually attractive comparison listing which they can discuss with clients. We’re launching the app in the next few months.

The launch of the Life Calc App and impending launch of Lender Source follows the success of our original Apple protection App, which has been downloaded by over 500 advisers and processed over 6,000 quotes since its launch in January 2012. We launched a subsequent Android version in November 2012.

Supporting our advisers’ evolving working methods is a key priority for us and these new Apps enable our members to offer up-to-the-minute mortgage and protection advice while on the move.

Programme Management Officer Analyst

Openwork — Wed, 13 Feb 2013 15:18:47 +0000

Department: IT and Business Change

Salary: Negotiable, depending on experience (Executive/Manager level)

Location: Swindon

Closing date: TBC

Job function

To provide Programme Office support to Project Managers and provide advice and guidance on the project lifecycle and governance issues.

The Programme Office Analyst will also be able to deputise for the Head of Business Change and take a strategic view of the project lifecycle.

Main Accountabilities

Programme Budgets

Monitoring and tracking the programme budget in conjunction with Project and Programme Management
Tracking spend against budgets, taking ownership for timesheets and reconciliation
Providing accurate management information on variances and trends.

Programme Reporting

Collecting and collating information from projects to present a consistent and accurate view of the status of projects and programmes

Project Planning

Assisting in the development and maintenance of the Company’s Development Plan

Programme Risk Management

Assisting in the identification of programme level risks and responsible for updating risk and issue logs

Project Administration

Assisting with general administrative duties including; booking meetings and rooms, progress chasing, maintaining resource lists, raising resource request forms

Stakeholder Management

Providing advice and guidance on project lifecycle and project governance issues
Taking decisions on the status of projects
Ensuring a pragmatic approach to programme support is taken
Ensuring that best practice is adhered to

Performance Indicators

Can show pragmatism and a pro-active approach, can show self-starter attitude and demonstrate flexibility with a can-do attitude.

Relationships

Head of Business Change
IT & Business Change Director
Project Managers
Programme Managers
Members of the PGF
IT & Business Change staff

Knowledge

Understanding of Programme Office Support and Programme Planning
Understanding of structured project management methodologies

Qualifications/Experience

Background in fast moving project environments
Experience in a Programme Office / Programme Support position
Strong understanding of the Project Lifecycle
Understanding of Risk Management
Proficient in MS Project , Word, Excel, Outlook, PowerPoint
Experience of MS Access is highly desirable (running reports and queries)
Experience of using SharePoint is highly desirable

Skills/Competence

Effective communicator, able to present issues logically and influence design, either on a one to one basis or through active participation in meetings
Strong Stakeholder Management skills, able to lead on programme governance issues
Strong ownership, analytical and problem solving skills
Strong planning and organisational skills, able to prioritise and manage own workload
Have an adaptable approach to business case preparation to achieve changing business objectives including the monitoring and impact assessment of project change requests

Applying and more information

If you’d like to apply, please send an email, attaching your CV, to sara.winslow@openwork.uk.com

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Investment proposition set to expand

Philip Martin — Wed, 06 Feb 2013 16:07:53 +0000

We are expanding our investment proposition, Omnis, and launching a number of multi-asset model portfolios and a fund of passive funds range.

Subject to FSA approvals, the expansion, due in Q2, will see Omnis roll out two new ranges of risk-rated outsourcing solutions, with underlying funds managed by leading asset managers including Jupiter, Schroders and The Boston Company (BNY Mellon).

Omnis will launch across major asset classes a number of funds that will be blended together to create three model portfolios (Cautious, Balanced and Adventurous), with asset allocation provided centrally by Omnis. New underlying funds will include a UK Equities fund managed by Schroders, a US Equities fund managed by The Boston Company and an Emerging Markets Equity fund managed by Jupiter. New funds will also be launched in asset classes including global and UK fixed interest, and in alternative strategies.

The new fund ranges will complement the existing Omnis proposition, which includes a number of multi-manager funds managed by Octopus and three single strategy funds managed by Threadneedle.

We’ve built the Omnis proposition by leveraging our scale to deliver appropriate solutions at cheaper cost than equivalent market offers. Expanding our asset manufacturing capability further will enable our advisers to access best-of-breed outsourcing solutions, both in the UK and abroad, at very favourable terms that fully reflect our scale and significant asset flows.

Openwork, which conducted an international search for the best fund managers to include in the new Omnis proposition, invests around £1.5bn in pensions and investments each year.

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Mortgage and Protection Business Assessor

Openwork — Wed, 06 Feb 2013 16:04:58 +0000

Department: Business Quality

Salary: Negotiable, depending on experience (Executive level)

Location: Swindon

Closing date: TBC

Job functions

The successful candidate will:

be able to apply a holistic approach when evaluating suitability of advice, in line with MCOB and ICOBS regulations, TCF principles Openwork’s ‘Outcome Based’ principles
be able to make appropriate decisions to a high standard, and be able to document how it satisfies the MCOB/ICOBS regulations, TCF principles and Openwork’s ‘Outcome Based’ principles
be responsible for the provision of clear and accurate feedback (both verbal and written) to Advisers, the Supervision team and colleagues
seek out opportunities for quality improvements to working practices and process, and be able to implement them

Main accountabilities

Review cases in an appropriate and timely manner in line with ICOBS/MCOB regulations, TCF principles and Openwork’s ‘Outcome Based’ principles
Work within the processes and procedures adopted within the team ensuring they remain compliant and are aligned with FSA regulations, TCF principles and Openwork’s ‘Outcome Based’ principles
Support the production of relevant and credible MI by ensuring systems used to record decisions are accurate and kept up to date
Facilitate change through personal commitment and ownership of organisational initiatives
Escalate sensitive issues to the appropriate level within the team and organisation
Suggest improvements to working practices and processes

Key activities

Review the client files within the agreed criteria, to the appropriate standard, and subject to a minimum error rate
Assess the client files within the agreed criteria, and record the results of the evaluation appropriately
Achieve the agreed number of advice checks per day
Be a positive role model, committed to embedding the ‘Outcome Based’ principles
Provide customer service to advisers and supervisors within the agreed criteria and to an agreed timescale

Competencies/Skills

High-level interpersonal, communication skills
Planning and organisational skills
Ability to quickly assimilate information
Able to handle conflict and the associated pressure and responsibility this brings
Responsive and adaptive to changes in procedures as and when necessary
Methodical and organised approach to administrative procedures

Knowledge

Good overall knowledge and experience in the MCOB world (essential)
Knowledge of FSA legislation particularly TCF and Data Protection
A sound understanding of Market, risk and business awareness
Data Protection and Financial Crime awareness

Behaviours

Fair, friendly and focussed
Strong influencing skills
Excellent decision making skills
Comfortable making challenges
Strong negotiation skills
Good time management
Degree of flexibility
Results focussed

Qualifications

At least 3 years experience in a financial services organisation
Previous business assessment experience
Holds CF6
Holds R01 or is able to achieve R01

Applying and more information

If you’d like to apply, please send an email, attaching your CV, to sara.winslow@openwork.uk.com

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Openwork launches new general insurance panel proposition

Paul Shearman — Fri, 01 Feb 2013 13:11:04 +0000

We’re pleased to announce we’ve signed a long term contractual agreement with Paymentshield for general insurance.

The deal, which follows a formal tendering process conducted in the second half of 2012, will see our advisers utilising Paymentshield’s new panel proposition. This will replace our existing insurer panel.

As part of the new agreement, advisers will have access to Paymentshield’s easy to use, web-based quote and apply system, enabling them to transact business quickly and efficiently. The new relationship goes live this month.

Paymentshield have been instrumental in helping us build one of the largest general insurance books in the market. Their new panel-based proposition gives our advisers a competitive solution, supported by many of the UK’s largest insurers and underpinned by an efficient and intuitive online application system. We believe transacting business in this way will boost advisers’ productivity, which will be critical at a time when advisers need to optimise the income streams available to them, and to do so safely and efficiently.

James Watson, Sales & Marketing director of Paymentshield commented: “We are pleased to have been selected by Openwork as its sole tie distributor of general insurance for the next five years. We have always been impressed by the quality and volume of business that Openwork advisers produce and we have worked closely with them over many years to help grow their GI sales through our excellent business development team.

“We celebrate our 21st anniversary this year with the launch of our new on line panel of top UK insurers supporting the Paymentshield product. This new partnership is testament to the strength of our new proposition and further demonstrates Paymentshield’s ability to deliver market leading solutions to strategic partners.”

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Android protection quote App launched

Paul Shearman — Wed, 21 Nov 2012 12:36:37 +0000

Following the success of our ‘Life Quote’ protection App for Apple mobile devices, we’ve launched a new version for Android phones and tablets.

The new App forms part of our ongoing initiative to broaden the ways in which our advisers can write business.

Offering the same functionality as the Apple version, it allows advisers to obtain instant quotes from our panel of life and critical illness protection providers: AEGON, Friends Life, Legal & General and Zurich.

Having downloaded the App from Google Play, Android device users will be able to access immediate quotes for level and decreasing life cover, critical illness cover and family income benefit cover.

Our original Apple App has been downloaded by over 500 of our advisers, and processed over 6,000 quotes, since its launch earlier this year.

Extending its availability to Android will mean many more people benefit from instant access to quotes, making business processing faster and easier.

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Openwork enhances marketing support for advisers

Philip Martin — Mon, 05 Nov 2012 13:04:54 +0000

We’ve bolstered our marketing support as part of an ongoing programme to help advisers grow their businesses through and beyond the RDR.

As part of the move, we’ve launched a protection mailer campaign to help advisers discuss with their clients the potential price changes taking place on 21 December 2012 as a result of the new Gender Directive. Advisers can order their campaigns – which include an approved leaflet and client letter – through us.

We’re also expanding our offering through Smart Hub, our online marketing support system, with the launch of new marketing newsletters.

The newsletters are available now and aim to support advisers when discussing particular areas of advice with new and existing clients. Advisers can download or print the newsletters – which cover mortgages, protection and general insurance and pensions and investments – with future editions being made available on a quarterly basis.

We’ve also developed new protection, RDR and asset table leaflets to help our advisers explain regulatory changes and other developments. As with most of the literature available through Smart Hub, the leaflets can be personalised by advisers using their own branding and distributed to targeted sections of their client base.

Helping advisers keep their clients up to speed with new developments is a key part of our support programme as we move towards the RDR and tackle other regulatory changes. In conjunction with Smart Hub’s existing tools, these new resources will provide advisers with a range of marketing materials to help them service and educate their clients across a host of areas.

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Mortgage adviser support programme launched

Paul Shearman — Thu, 11 Oct 2012 09:22:25 +0000

We are embarking on a series of initiatives to support mortgage advisers as they seek to adapt to tighter credit conditions, regulatory intervention and greater lender scrutiny of business submission quality.

As part of this, we have produced a series of videos, with contributions from key lenders, to demonstrate the ways in which mortgage cases can be safely and rapidly sourced and processed.

These videos, available now, include segments from David Finlay (managing director, intermediary business, of Barclays Woolwich), Adrian Whittaker (key accounts director at Abbey for Intermediaries) and Peter Curran (director of strategic partnerships at Lloyds Banking Group).

Accessible from our internal portal, the videos explain each lender’s changing requirements for quality as well as guidance on how advisers can avoid falling foul of fraud.

As part of our support initiatives, we’re also hosting a series of mortgage, protection and general insurance road shows, across the UK, to underline recent and upcoming developments, including the latest quality guidelines. We expect more than 500 of our Advisers to attend these events, which conclude in Belfast on Monday 22 October.

We are focused on doing all we can to help advisers remain both successful and safe when writing mortgage business, as they face challenges including a shortage of funding, and ever-tightening regulation. We are pleased to work with all of our lenders to ensure that continues to be the case in this ever-evolving market.

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Billy Hewitt appointed as Recruitment Director

Openwork — Wed, 15 Aug 2012 13:45:24 +0000

Openwork has appointed Billy Hewitt to the role of Recruitment Director for Scotland.

Formerly Business Development Director at Honister Capital, Perth-based Hewitt will drive new business across the country and has, as part of his new position, already engaged with a significant number of ex-Honister adviser practices seeking a new AR relationship.

Prior to Honister, Hewitt was Financial Services Director at Nexus Financial Planning, having worked previously at companies including St James Place, Pearl Assurance and Legal & General.

Hewitt will report to Keith Atkinson, Openwork’s Strategy Director – Business Acquisition, who has been leading its engagement with former Honister advisers.

Keith Atkinson says: “Billy has great experience in this market and will be a valuable addition to the team. Our policy is very much centred on recruiting quality advisers and Billy will play a key role in engaging with individuals and firms whose priorities are good advice and profitability.

“Our quality-led approach is clearly evidenced by the fact that, while we have now taken on 60 former Honister advisers – largely through our IFA proposition 2plan wealth management – we have rejected an additional 30, refusing one application for every two accepted.”

Hewitt says: “Having looked closely at the major networks it was quickly apparent that Openwork’s overall proposition was by far the most compelling. Not only does it offer a fantastic IFA business in 2plan, it also offers the strongest restricted proposition in the market. Having the scale and strength to deliver on its strategy sets Openwork apart and I’m pleased to be joining a business with the ability to provide outstanding support and services to quality advisers.”

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