Data Management Level 3 Flashcards
What was your first level 3 example?
Sharepoint
What is a secure file transfer system?
- Method for securely sharing files between different locations or individuals.
- It uses encryption and other security measures to protect the data during transmission
Key features include: - Encryption
- Authentication
- Access control
- Audit trails
Why did you advise on sharepoint? What are the pros?
It is a centralised location which can be accessed by authorised parties simultaneously
Pros
* Centralised collaboration
* Easy to track data
* Reduces duplication
* Secure
* Mobile access
Ensured i provided a good quality of service to my client
Was able to keep to timeframes as set out in ToE as we could track data received
What are the cons of sharepoint?
Cons
* Complex to set up
* Security concerns if insufficient user training
What else could you have used instead of sharepoint?
Google drive
- Less robust that SharePoint
- Limited customisation
Dropbox
- Limited collaboration features
- Can be ore expensive
How did you ensure only authorised personnel have access to the sharepoint?
- Permission levels
- Granted access
- Strong passwords
Why did you advise that it was password protected?
- Protect clients data
Adhered to GDPR - limited to its use
- kept confidential
How did you ensure any limited access to the sharepoint?
I set up the data room
only i allowed access
i controlled access
only those working on the instruction and these the client requested gained access
Did you consider other sites?
Yes however, this worked well for us with other clients so advised to use amongst other things
What follow up advice did you give?
- Given the success we should continue to use for future quarterly valuations
What was your second level 3 example?
Benchmark slides
What was the purpose of the benchmark slides?
- Collate evidence in a centralised place
- Displayed clearly
- To help the wider valuations team provide high-level views on market transactions
What was included in the slides?
- Occupational and investment Market updates
- Benchmark yields
- Recent transactions
- Date
- Parties
- Price
- NIY
- Beds
What historic data did you analyse?
- Transaction volumes
- Supply and demand of student figures
- Transactional evidence
- Compared from the previous quarter
Why did you use powerpoint?
- Best way to visually display
How did you distribute to clients?
via email
Was it safe to distribute by email?
- Yes only those who had opted in received the powerpoint
What advice did you give for the benchmark slides?
- Helped to advise clients on market transactions
How did it help to advise your client?
- They were aware on the PBSA market and current transactions
- Current BIC yields
Did you advise on asset classes you have not regularly valued?
Only on transactions where I provided transaction details
I did not provide advice on assets that I was not competent on
What advise did you give on other asset classes? Were you competent to do so?
Example – retail benchmarks etc
I ensured I had the sufficient skills and knowledge to advise my client on the benchmarks but nothing more
Where was it stored?
- Only people in the department have access to these files
- All files are stored on my firms’ internal network which requires a double password to gain access. Each client’s file is named and dated
What if there was an sensitive data in the slides?
- Not sensitive data was added to this as it was distributed externally
Was there any confidential information in the benchmark slides?
no
who were the benchmark slides shared with?
- paying clients who had signed up to them
what historic data did you analyse?
- transactional evidence
- supply and demand data
- previous benchmark yields
How frequent were the benchmark slides?
quarterly
What advise did the slides help with?
what valuation advice was provided to your high-profile client?
how and where were the files stored?
how were you qualified to provide advice on data management?
- rigorous training with compliance officer
- CPD
- if unsure - check with compliance officer
How did you leverage data to improve client outcomes?
