Product Governance Oversight Lead
Davy, Ireland
Job Description
The Davy Group is Ireland’s leading provider of wealth management, asset management, capital markets and financial advisory services. You can read more about our growing company here: www.davy.ie
We value our employees as much as our clients and are committed to embracing diversity in all its forms recognising that the breadth of thought, perspective and experience that emerges from a diverse workforce is essential to deliver on our core values.
Our city centre location, free access to our onsite gym and fitness studio, and impressive social calendar are just some of the unique benefits our employees enjoy while working at Davy.
Performance related bonuses, generous pension contributions and investment into further education demonstrate the value we place in developing and rewarding our staff.
It's not just business. It's Personal.
An opportunity has arisen to join our Dublin office as Product Governance Oversight Lead
Job Purpose:
Davy’s responsibilities regarding Product Governance are set out in the MiFID II regulations as well as the requirements of the Central Bank under its Product Lifecycle pillars. Product Governance is a key component in ensuring that, as Davy manufactures and distributes a wide range of financial products, its activities are conducted in the best interest of the clients engaging with those products.
Key Responsibilities:
Guide Davy Group adherence to Product Governance regulatory requirements. Including:
- Working with the Compliance team to monitor developments in Product Governance regulation, and plan any implementation
- Working with the Risk team to monitor the impact of Davy’s product manufacturing and distribution activities on the group’s risk profile
- Working with the Information Systems team, enhancing our Product Governance reporting capability to increase depth and coverage
- Preparing Key Risk Indicators and risk metrics
- Act as the key point of contact for Product Governance queries between the 2LoD* (Compliance, Risk, and Legal) and all 1LoD teams (business units, operations, and central functions).
- *LoD, Line of Defence
Embed and manage Product Governance practices at Davy:
- Provide training, with Compliance, to all teams manufacturing and/or distributing products, on our Product Governance responsibilities
- Work with all Davy corporate entities to develop and maintain their Product Governance policies, procedures, and processes
- Assist managers establish clear lines of Product Governance accountability and responsibilities within their teams
- Monitor and drive Product Governance reporting, covering manufacturing, distribution and exception management, noting any concerns to the Product Governance Oversight Committee (PGOC) see below
Embed and manage Product Governance practices within product distribution supply chains:
- Become a knowledge centre and key point of contact for product-governance related queries
- Work alongside business units to coordinate product governance agreements and practices with third-party managers or distributors
- Monitor the accuracy, timeliness, and completeness of Product Governance reporting information supplied to/from Davy regarding product specifications (European MiFID Template), product sales, and complaints management
- Review product sales and distribution data to ensure issues in any of our supply chains are caught and dealt with promptly
- Ensure that Davy’s product teams are fully aware and act upon any product or sales complaints, and that these are dealt with in prompt manner through the group’s complaints management processes
- Maintain Product Governance as a key agenda point within service reviews between Davy and its third-party manufacturers/distributors
Assist the chairperson of the PGOC to drive the work of the committee:
- Take responsibility for the committee’s governance, including maintenance of the Terms of Reference, minute taking, and follow through on recorded actions
- Work with the chairperson of the committee to set the committee’s agenda, ensuring focus is maintained on prioritised issues
- Collate and present the group’s quarterly Product Governance report covering all Davy legal entities, noting:
- Sales performance against target market specifications
- Complaint notifications and handling of current issues
- Issues with external manufacturers and/or distributors
- Provide assurance to the committee on adherence of the group to Product Governance regulation, noting any threat to this status
- Assist product sponsors navigating the group’s procedures for n