We are currently recruiting a Designated Professional Body (DPB) manager for a Permanent contract. The role is part-time, for 21 hours per week.
This role is hybrid, both working from home and in our Edinburgh hub (approximately monthly).
We encourage our colleagues to work flexibly between home and the hub to suit their needs and preferences, in line with our hybrid working policy.
Colleagues are able to work their hours flexibly, in line with core business hours and requirements. We also offer formalised flexible working agreements.
The starting salary is £52,630 (pro-rated: £31,578) per annum.
To apply, please send a CV and cover letter to HRsupport@actuaries.org.uk by the closing date of 16 August 2024.
Purpose of the job
This role is to manage and deliver the IFoA’s Designated Professional Body (DPB) licensing system (operated under the Financial Services and Markets Act 2000), which is part of the IFoA’s wider professional regulatory function.
The role will involve delivering an effective licensing system and supporting the DPB Board.
The role holder will work within the IFoA’s Regulatory Policy Team, reporting into a Senior Regulatory Lawyer, and will have access to executive support.
Principal accountabilities
- Responsible for ensuring that the DPB licensing system operates effectively and in accordance with relevant legislation and the Financial Conduct Authority’s (FCA) requirements. Including:
- Maintaining the DPB Handbook, ensuring it is kept up to date and reflects the FCA’s requirements
- Communicating with DPB license holding firms and potential applicants
- Liaising with the FCA as oversight body, preparing and submitting an annual report to it and implementing any recommendations or actions that they require
- Managing the relationship with and instructing third party providers of DPB services and other professional advisors
- Ensuring that there are appropriate processes and procedures in place for the scheme, including for granting licenses and monitoring DPB firms.
- Manage the records relating to DPB, and utilise to best effect, the IFoA’s Customer Relationship Management (CRM) system to achieve that
- Budget holder responsibility including preparing and maintaining the annual DPB budget, working with the IFoA finance team.
- Overseeing operation of the DPB complaints process, including instructing investigations
- Analysis of DPB license applications and annual returns
- Drafting guidance and communications about the DPB system
- Ensuring that the DPB webpages are up to date and user friendly
- Organising events for DPB licensed firms, as appropriate
- Carrying out relevant research in relation to changes to the DPB system and, where necessary, reporting/presenting on findings
- Effective support of the DPB Board in meeting their remit, including:
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- Advising the Board on relevant developments or issues in relation to the DPB system
- Ensuring that appropriate governance steps are taken, including:
- setting of agendas for meetings (with Board Chair);
- preparation/publication of minutes;
- managing any conflict of interest issues that arise;
- renewal of Board membership in line with the requirements of the IFoA’s Governance Manual.
- Presenting applications to the Board for decision, with appropriate analysis and recommendations
- Presenting to the Board on proposals for changes to the DPB
- Drafting the Board’s annual report to Regulatory Board and attending to co-present with the Chair of the DPB Board
- Advising the DPB Board on reporting and governance requirements
- Advising the Board on its powers and responsibilities
- Maintaining the DPB Risk Register
Main contacts
- Regulatory Policy Team
- DPB Board
- Regulatory Board
- Volunteers
- FCA
- Third party service providers
Decisions
Required to exercise judgement and make decisions commensurate with the role ensuring the effective operation of the DPB licensing regime. This will include decisions on specific aspects of the regime within agreed parameters, including analysis of highly-technical applications and assessment of them against financial services regulatory requirements. Management of own workload. Budget holding responsibilities.
Complexity
The role will involve engaging with often complex compliance issues, being able to communicate those and identify key issues, as well as having an awareness of emerging issues. It will also involve engaging with well-informed audiences.
Impact
The role will be key in the delivery of the IFoA DPB licensing regime.
Skills, knowledge, and experience
Essential
- Technical and practical knowledge of financial services regulation compliance and FSMA 20
- Strong analytical, written and communication skills
- Experience of stakeholder management and building positive relationships with stakeholders.
- Good interpersonal skills, able to inspire confidence in others and to motivate, influence and persuade
- Strong organisational and time management skills
- Strong attention to detail and accuracy
- Self-starter - able to work on own initiative and to tight deadlines.
- Creative thinker and problem solver.
Desirable
- Experience of operating or dealing with DPB licensing
- Experience of working with actuaries or actuarial advice
- Experience of supporting Boards or Committees
Additional information
The role is hybrid working and the successful applicant would be expected to travel to the Edinburgh Hub when required. This is expected to be approximately once per month. Travel to sites in London and Oxford and to other conference/meeting locations may be required.
IFoA’s values
The role holder must be an ambassador for and demonstrate the IFoA Values in all aspects of their work.
- Member-focused: We put members at the heart of everything we do
- Action-oriented: We work hard, we work smart, and we take pride in getting things done, valuing action over perfection
- Forward- and outward-looking: We’re always looking to be bold and improve, innovate and take the next step
- Team-driven: We work in partnership, advancing together as one IFoA
Alternative format and adjustments
Please email the HR Team if you require:
- any information regarding our vacancies in an alternative format
- any adjustments to support you to fully participate in any part of the application and recruitment process
Any information shared will be used only to enable us to make reasonable adjustments to support candidates to participate in the recruitment process. It will not inform selection decisions.
You can reach us at HRsupport@actuaries.org.uk.
Diversity, equity, and inclusion
The IFoA encourages applicants from a variety of backgrounds and experience and welcomes diversity with regard not only to protected characteristics but also diversity of thought. Diversity, equity and inclusion are more than just words for us. That’s why we are committed to creating a culture where everyone feels included and respected, and where no one is unfairly discriminated against. Consequently, we promote diversity, equity and inclusion in all our policies, practices and procedures, and actively encourage applications from a diverse range of potential candidates. All applications for our roles are considered on merit alone, and if you don’t meet all the criteria but believe you have something to offer, we want to hear from you. For more information on our commitments, please see our DEI strategy page.
