Please be aware that positioning the dump valve too far to the "outside" of the bicep can cause an issue since when you are in horizontal trim the valve must be closed or it will dump whatever gas is in the suit. Even a slight roll may cause an open valve to dump, when it has been moved from the spot where the suit manufacturer designed it to sit. Also, the further back it is, the tougher it will be to reach with your right hand. Most dumps DO point slightly down and forward when the diver is in trim. raising the arm usually orients the valve in the correct position to dump.
By the way, wrist dumps are a pain in the arse, IMHO... and create more problems than they solve (I take it you are not doing commercial work).
And what brand suit? If it's a cheap suit, having it worked on by a reputable shop may not be worth the expense.