SCV Data Assurance Expert

Job Description

My Role

Principally, the role is to audit the processes and controls that Banks and Building Societies have in place to deliver a Single Customer View to FSCS and to perform an assessment of the data they supply against FSCS’ quality and integrity standards and in line with PRA (Prudential Regulation Authority) rules.

The role entails performing the audit and data analysis, acting as a subject matter expert providing technical support to the team and the main point of contact externally for technical queries as well as delivering the findings to internal and external stakeholders, which include the Bank of England.

My Priorities – what I will deliver

• Produce compliance audit reports of deposit takers to banking regulators to deadlines, identifying regulatory compliance failures, control weaknesses, and data quality issues that would present risks to FSCS and depositors.

• Oversee and provide quality control for the SCV Assurance assignments, ensuring regulatory mandate and goals are met.

• Allocate SCV review to each team member on a quarterly basis, ensuring they are appropriate for each individuals skill level.

• Deliver quarterly and annual updates to the SCV Steering Committee on reviews conducted within the period.

• Keep procedures, process maps and external guidance publications updated.

• Contribute to the internal risk management process of the team.

• Undertake detailed analysis of SCV (Single Customer View) banking data provided by deposit taking firms i.e. banks, building societies and credit unions (“deposit takers”).

• Perform compliance audits of deposit takers’ SCV/banking systems and processes in accordance with an agreed risk-based approach to identify compliance failures and weaknesses in key controls. This may include attending on-site visits to deposit takers’ premises.

• Keep abreast of developments in the regulatory environment concerning SCV and advise the Scheme accordingly.

• Use SQL and in-house tools to determine adherence of SCV data to regulatory and data quality requirements.

• Effectively communicate complex audit findings to diverse audiences (including PRA supervisors, C-level executives, compliance officers, and technical analysts) orally and in writing, and respond to any compliance or technical queries that arise.

• Assist with the FSCS payout process that triggers when deposit takers fail, working closely with insolvency practitioners and internal teams to ensure customers are compensated quickly.

• Act as an internal and external subject matter expert on SCV systems, processes and data quality matters, representing FSCS in meetings or communications with deposit takers, regulators, trade bodies, SCV software suppliers and international counterparts (for example, the SCV Steering Committee).

• Actively seek opportunities for process and technology improvements within the team to increase the Team’s impact and influence on the financial sector

• Coach, develop and supervise all team members, including executing quality control responsibilities, moderation of compliance audit reports and assisting with technical queries to ensure regulatory mandates are met. This may include delivering training to support development of skills within the team (for example, SQL, SSIS, VS Portal functionality and best practices)

• Champion continuous improvement of in-house systems and processes, working collaboratively with other internal teams to improve efficiency, engage stakeholders and align to best practices.

• Perform other duties that falls within the scope of the role, as allocated by the line manager.

My Knowledge – what I need to know

• Experience in auditing or testing IT systems and communicating findings. [REQUIRED]

• Experience in assimilating and analysing multiple information sources, assessing compliance within defined requirements and preparing reports detailing the results of the analysis, highlighting areas of concern and recommending further action if required. [REQUIRED]

• Experience in assimilating and analysing multiple information sources in order to identify insights and trends to enable FSCS to influence external stakeholders in regulatory action and policy making, support business decisions and identify process improvements. [REQUIRED]

• Strong leadership skills and experience of acting as a subject matter expert and providing support to a team. [REQUIRED]

• Strong analytical and problem-solving skills [REQUIRED]

• Technical expertise in SQL (and ideally SSIS) to perform analysis of large amounts of data and able to train others. [REQUIRED]

• Strong communication skills, particularly in a client-facing environment, able to effectively convey complex information to a variety of audiences whilst influencing and negotiating outcomes both orally and in in writing. [REQUIRED]

• Strong planning and organisational skills, with the ability to prioritise and work flexibly. [REQUIRED]

• Understanding of Agile methodologies, with knowledge of identifying dependencies, priorities and delivering to deadlines. [REQUIRED]

• Working knowledge of Microsoft Office applications (especially Word, Excel and PowerPoint). [REQUIRED]

• Knowledge of the regulatory environment of the UK Banking sector and awareness of the Depositor Protection part of the PRA (Prudential Regulation Authority) Rulebook. [REQUIRED]

• Experience of working in adherence to ISO27001 Information Security and General Data Protection Regulation (GDPR) standards. [REQUIRED]

• Some prior knowledge of what FSCS does and its regulatory obligations (specifically about deposits and faster payout). [OPTIONAL]

• Audit qualifications (such as PCI QSA/CISA) are desirable. [OPTIONAL]