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Financial services administrator

Financial services administrator

Level 3 - Technical Occupation

Provide support in financial services, ensuring smooth operations, regulatory compliance, and excellent customer service

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Summary

This occupation is found in a range of financial services organisations, including banks, insurance companies, investment firms, and mortgage and financial advisory practices. Financial services administrators work in organisations of varying sizes, from large multinational companies to small and medium-sized firms. They provide essential support to ensure the smooth operation of financial services businesses, working in roles that require attention to detail, customer service skills, and an understanding of financial products and services.

The broad purpose of this occupation is to provide administrative support within financial services organisations, ensuring client information is accurately processed and maintained, transactions are completed efficiently, and customer queries are handled professionally. Responsibilities include processing and generating reports, managing client records, supporting compliance and risk management activities, and assisting with the preparation of client communications. Financial services administrators are also integral in ensuring that all processes adhere to relevant regulatory requirements, maintaining thorough documentation to support compliance practices and demonstrating an understanding of the legal and regulatory frameworks governing the industry.

In their daily work, a financial services administrator interacts with a wide range of stakeholders, including internal and external clients, financial advisers, mortgage advisers, insurance professionals (such as underwriters and loss adjusters), compliance teams, and product providers. They may work within specialised teams or across departments, depending on the organisation's size and structure. Their role requires them to communicate effectively with internal and external customers, other financial service organisations, service providers, and third parties. They may be customer-facing, managing enquiries, processing requests, and coordinating documentation to facilitate financial transactions, applications, and services.

An employee in this occupation is responsible for ensuring that their work complies with the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) regulatory requirements and for providing high-quality service to clients and colleagues. They report directly to a line manager but are expected to work with minimal supervision, managing their workload with a high level of accuracy while adhering to confidentiality and ethical standards. They must be able to work independently and within teams, handle pressure well, and have a proactive approach to problem-solving and continuous improvement. They also utilise various technology and software systems, ensuring the accuracy and timeliness of data, managing transactions, and supporting communication efforts. This may include using emerging digital tools such as generative AI and robotic process automation (RPA).

Typical job titles include:

Client services administrator
Financial planning administrator
Financial services administrator
Insurance administrator
Investment operations administrator
Mortgage administrator

Keywords:

Admin
Banking
Finance
Financial Planning
General Insurance
Insurance Advice
Investments
Life
Money
Mortgage Planning
Office Administration
Pensions

Knowledge, skills and behaviours (KSBs)

K1: The ethics and key principles of the financial services regulatory and legal frameworks, and key principles of the advice process, relative to their role. For example, the Financial Conduct Authority (FCA) handbook, Prudential Regulation Authority (PRA) rulebook, and the implications of non-compliance.
K2: Professional standards and best practice in financial services, and how these are applied through organisational policies and procedures in line with internal policy, the financial services environment, and FCA or PRA guidelines as appropriate.
K3: The financial services market, including the role of their organisation, relevant financial services professionals, and product providers, and how they support stakeholders.
K4: Approaches to delivering excellent customer service and fair customer outcomes, including Treating Customers Fairly (TCF) principles and Know Your Customer (KYC), and identifying vulnerable stakeholders and how to make reasonable adjustments.
K5: Systems and processes within their team, how these support the delivery of their team’s goals and strategy, and how they interact with the wider organisation and financial services industry stakeholders, including the importance of adhering to service level agreements.
K6: The products and services offered to customers by their organisation, and the products of their competitors, relative to the role, including their features and benefits.
K7: Policies and procedures for the identification and escalation of issues relative to role.
K8: How to identify, mitigate, and escalate risks that could lead to issues such as financial fraud, reputational damage, financial loss, and customer dissatisfaction.
K9: General software packages and specialised financial service platforms relevant to their role, including emerging digital tools in the wider industry, for example, generative artificial intelligence (AI), robotic process automation (RPA), big data tools, data analysis tools, and telematics, and their impact on their role, products and services, and key stakeholders.
K10: Data protection legislation and the processes for sharing and storing information safely and securely, including the risks to data from cybercrime.
K11: Techniques to develop and maintain collaborative and positive stakeholder relationships.
K12: Communication techniques and methods, including verbal, non-verbal, and written, and the importance of adapting communication style to facilitate understanding of technical and non-technical information for different stakeholders.
K13: Approaches to researching, analysing, and presenting information and data relevant to their role and audience, using available tools and techniques.
K14: Approaches for planning, organising, and effectively managing time and resources, and the importance of meeting key performance indicator targets (KPIs).
K15: Continuous improvement techniques, and the impact of continuous improvement on delivering financial services.
K16: Green and sustainable policies and practices in the finance sector, and how to minimise negative environmental impacts within their role.
K17: Principles of continuing professional development (CPD) within their role and specialised sector, for example, financial services, mortgage advice, investment operations, or insurance, and the impact of learning on their own role.
K18: Organisational equity, diversity, and inclusion policies.

S1: Apply professional standards and best practice to support positive outcomes for stakeholders, in accordance with legal, regulatory, and ethical rules and principles.
S2: Deliver customer service to internal and or external stakeholders that meets their requirements, considering service level agreements, and ethical and financial regulations, such as Treating Customers Fairly (TCF) principles, Know Your Customer (KYC), and identifying and supporting vulnerable customers.
S3: Collaborate with and support financial services teams with planned and ad-hoc tasks or projects.
S4: Identify potential risks and align tasks with company guidelines to effectively mitigate risks, escalating where appropriate.
S5: Escalate issues where appropriate in line with organisational policies, procedures, and legal and regulatory requirements.
S6: Use digital systems and processes to meet business and customer needs, considering financial services regulatory and governance requirements.
S7: Handle data safely and securely and share information in compliance with data protection legislation and organisational policy.
S8: Develop and maintain collaborative and positive relationships with key stakeholders, ensuring a clear understanding of their individual expectations and needs.
S9: Select and use appropriate communication methods for the audience and circumstances, and convey technical and non-technical information to stakeholders, adapting as needed and in compliance with relevant policies, guidelines, and legislation.
S10: Use available tools and technique to research, collate, analyse, and present data relevant to their role and audience.
S11: Plan, organise and prioritise own tasks, managing time and resources effectively.
S12: Identify opportunities for continuous improvement and recommend solutions to improve processes.
S13: Apply current and developing sustainable principles and techniques relative to role.
S14: Participate in training and development activities related to their role, and stay up to date with relevant legal, regulatory, and other changes affecting the industry.
S15: Work in line with organisational equity, diversity, and inclusion policies.

B1: Acts professionally, ethically, and with integrity.
B2: Maintains confidentiality and acts with due care and diligence.
B3: Works collaboratively with others across the organisation and stakeholders.
B4: Works flexibly and adapts to changing circumstances, including overcoming challenges and responding to setbacks.
B5: Supports an inclusive culture and treats colleagues and stakeholders fairly and with respect.
B6: Reflects on own practice and seeks learning opportunities for continuing professional development (CPD) in line with industry and organisational requirements.

Duties

Duty D1

Use financial knowledge and administrative expertise to support their team and stakeholders with day-to-day financial administrative tasks. Provide administration support to financial services professionals.

Duty D2

Contribute to the delivery of their team’s goals and strategy, meeting FCA and or PRA guidelines and internal policies, within agreed service levels.

Duty D3

Gather, process, analyse, and report on financial services data as relevant to role.

Duty D4

Be a point of contact for financial services professionals and or other stakeholders and engage with them to resolve issues within the remit of own role using appropriate communications methods, for example emails, phone, online and face-to-face meetings.

Duty D5

Liaise with stakeholders regarding financial queries and respond to client enquiries promptly, coordinating with the team and other relevant stakeholders.

Duty D6

Support and process new business applications and prepare data for colleagues.

Duty D7

Identify, assess, and manage potential risks or problems, for example, financial fraud, reputational risks, errors, and oversight, and ensure alignment with company guidelines, escalating issues where necessary.

Duty D8

Use relevant software packages and technology to provide internal and external client support.

Duty D9

Maintain financial records, ensuring they are complete, accurate, well archived, and safeguarded in compliance with organisational processes and regulations.

Duty D10

Ensure tasks are completed in compliance with all relevant financial regulations, legislation, and company policies.

Occupational Progression

This occupational progression map shows technical occupations that have transferable knowledge and skills.

In this map, the focused occupation is highlighted in yellow. The arrows indicate where transferable knowledge and skills exist between two occupations. This map shows some of the strongest progression links between the focused occupation and other occupations.

It is anticipated that individuals would be required to undertake further learning or training to progress to and from occupations. To find out more about an occupation featured in the progression map, including the learning options available, click the occupation.

Progression decisions have been reached by comparing the knowledge and skills statements between occupational standards, combined with individualised learner movement data.

Technical Occupations

Levels 2-3

Higher Technical Occupations

Levels 4-5

Professional Occupations

Levels 6-7

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