Praxis is an independent, leading provider of bespoke private wealth, corporate administration and yacht services to companies, individuals and families across the world.

Our expertise and experience is driven by recruiting and retaining the brightest and best and creating a culture that allows people to thrive. Our independence encourages an open culture where every voice is valued. We care about creating an environment that hears, supports and shares openly with all our people.

Teamwork and collaboration are at the heart of our approach, and we nurture an environment of openness and respect where everyone feels valued.

Be heard. Be part of the Praxis Group.

Our private wealth and corporate services teams work with our clients and their advisers, delivering an efficient, informed and personal service. We operate a fast-paced and rewarding environment with opportunities to service a variety of international clients across all asset classes.

Job summary:

The post holder will be responsible for identifying and managing risk associated with all client investments for which we hold a fiduciary responsibility (in our capacity as Trustee and director) and reporting to the Board on the investments.

The candidate will also assume responsibility for our growing mutual fund business, to include our authorised representative business and all the related regulatory requirements.

Responsibilities will also extend to management of risk associated with CRS, FATCA and Economic Substance filings for our book of business.

Job accountabilities:

Strategy

• Write a comprehensive business case to justify the expansion of the mutual fund and Investments function in the BVI.
• Act as project sponsor, create an implementation plan and engage with key stakeholders across the Group to roll out.

Investment Monitoring

Regular portfolio reviews for clients to include:

• Maintain and update an efficient monitoring process for client portfolios and investments across the Business
• Management of the reporting process
• Identification of any mismatch between Trustees’/Directors’ wishes and portfolio investments
• Identification of high-risk holdings and ensuring they are appropriately managed and highlighted to the Board
• Liaising with portfolio managers to understand strategies and resolve queries where appropriate
• Suggesting actions for broad changes to the portfolio i.e. investment strategy or portfolio manager
• Meeting, discussing or reporting to clients as required.

Identification and monitoring of an approved investment manager list to include:

• Design and implementation of an appropriate process to review and compare investment managers
• Meeting with investment managers on a regular basis
• Comprehensive understanding of all managers employed with regard to risk and process
• Oversee the ongoing collection and review of performance data
• Negotiating fees with investment managers.

Providing recommendations to the Trustees/Directors for the selection of investment managers for new business to include:

• Review of client circumstances and objectives
• Identifying suitable investment manager options for the client profile
• Requesting investment proposals from managers
• Summarising and putting forward recommendations to the Trustees/Directors’
• Meeting and/or discussing with clients where required.

Support administration teams with regard to CRS, FATCA and economic substance filings to include:

• Help with understanding of portfolio
• Ensure relevant classifications and any relevant updates are on file
• Liaising with investment managers where required
• Help with filings and any relevant changes to filing requirements
• Closing out accounts as needed
• Review of corporate actions
• Input on advisory and execution advice as it pertains to the filings.

Procedure design, implementation and management to include:

• Ensuring all relevant filings are adhered to
• Ensuring all staff in the office are aware of relevant filing requirement and same is communicated to clients in a timely fashion
• Ensuring existing procedures remain relevant
• Seeking to continually improve team processes.

Corporate Governance and Risk Management

• Subject to internal approvals, lead the BVI team filing requirements
• Work within the confines of our regulatory regime and work closely with our Compliance, Risk & Operations teams.
• Stay up to date with changes in legislative and professional standards that impact our investment business and filing requirements for CRS, FATCA and Economic Substance.
• Assist in the management of complaints, operational risks, suspicions etc. in accordance with local procedures and implement adequate internal controls to mitigate risk.
• Ensure understanding and adherence to risk management policies and procedures and, where appropriate, be proactive in identifying and proposing improvements.
• Assist in implementing and adhering to our standards and policies.
• Act as a member of various committees as agreed from time to time.

Leadership and Communication

• Lead and manage the team to include recruitment, performance management and development, reward and remuneration and engagement and motivation.
• Inspire others and lead by example in order to promote teamwork, develop people and encourage development across the company.
• Design and deliver a programme for internal CPD to employees to improve knowledge and awareness of our market.
• Regularly attend meetings with managers / directors, in order to cascade information and receive feedback.
• Explain technical issues in a way non-technical people can understand.
• Actively champion Praxis' values by promoting a culture of professionalism, teamwork, and leadership.
• Support, advise, be decisive and provide direction.
• Make expertise available to others by acting as a coach and/or mentor for more senior members of staff.
• Encourage a positive approach to change.

Personal Development

• Attend seminars and workshops, read industry publications and advisory briefs, and follow developments in wealth management to enhance professional and technical knowledge.
• Shape own development by identifying areas to improve own knowledge and skills and actively seek assistance.
• Maintain evidence of continuing professional development to meet regulatory requirements.

Required skills:

• Comprehensive knowledge of and a proven track record in the financial services field.
• A proven track record in handling complex portfolios.
• Strong leadership and interpersonal skills for dealing with staff, intermediaries and clients.
• Excellent time management and organisation skills.
• Good presentation skills.
• Sound judgement.
• Excellent communication skills.
• Ability to coach and mentor junior colleagues.
• Knowledge of compliance issues and the regulatory framework within which Praxis BVI operates.

Minimum education and experience:

• Educated to degree level, ideally in a business-related subject and be a member of a relevant professional body.
• The post holder should also have a minimum of 10 years’ experience in financial services, with at least 5 years management experience.

Additional Information:

In addition, all our team members are expected to be committed to our core values:

• We inspire
• We listen
• We trust
• We succeed together

To apply

We encourage you to apply well in advance of the deadline and if you are successful, we will meet with you as soon as possible

Our Commitment to Diversity

We want you to bring your full self to work and maximise your potential. Praxis Group is a place where everyone can thrive, whatever their gender, ethnicity, disability, sexual orientation, and socio-economic background.