Client Asset Oversight Officer recruitment

 
JOB DESCRIPTION

NAME:   KnownAs FamilyName

DEPARTMENT:  Client Assets, Finance, UK

JOB TITLE:  Client Asset Oversight Officer, UK

CORPORATE TITLE:    Director

EFFECTIVE DATE: August 2012

TASKS AND RESPONSIBILITIES:

The post will be responsible for client asset oversight, covering Client Money, custody and collateral under the FSA CASS rules.

Responsibilities:

• Act as the primary liaison between the business and the regulatory area
• Daily oversight of the production of the Client Money calculation
• Monitoring and improving the control around the Client Money and Assets processes
• Provide Senior Management with a greater level of assurance around Client Money and Assets
• Reduce the risk of reputational and regulatory failings associated with Client Money and Assets
• Establish and maintain a formal governance n framework
• Main point of contact with internal and external auditors
• Ensure the firm keeps up to date with the FSA rulebook
• Challenge existing processes, test/verify opinions against factual evidence, investigate data quality issues, assess feasibility and define solutions or options for proposed enhancements to Client Asset processes
• Implementing best practise across the team and ensure all calculations and regulatory returns are supported by working papers, which are clearly documented and referenced
• The role will oversee and review the completion of the following tasks:
o Supervise a team responsible for the day to day production of the below items
o Daily preparation of Client Money calculation incorporating all relevant adjustments
o Preparation of CMAR (Client Money and Asset Return)
o Daily Analytical review of client money movements
o Daily top up/draw down of Client money
o Development and enhancement of Management Information around Client Assets
o Liaison with Legal and Compliance Departments regarding issues and breaches
o Liaison with Operations and Treasury around processes and controls
o Coordination and structuring of the monthly Client Asset Oversight Committee meetings
o Log and Manage the escalation of any Client Asset issues arising

SUPERVISION DUTIES:

Client Money team

SKILLS AND EXPERIENCE NEEDED:

Skills:
Management skills:  Management of professional teams, organisational responsibilities of key committees
Market skills:  Extensive experience of the derivatives markets
Regulatory skills:  experience of regulatory responsibilities of an FSA supervised firm
Personal skills:  Ability to direct staff and actively challenge the business.  Presentation externally to counterparties of Newedge
Excellent communication and interpersonal skills with ability to communicate well with all levels of a diverse range of staff, including senior and/or executive management
Proven ability to think strategically and meet tight reporting deadlines
Proven ability to work independently as well as capable of working effectively as part of a team
Strong documentation, presentation, problem solving, organisational and analytical skills
Strong attention to detail and proven ability to 'connect the dots' and meet expectations of the agreed deliverables
Excellent time management and project management skills

Knowledge:
In depth knowledge of the FSA client asset sourcebook and future planned developments to that sourcebook
Good knowledge of financial instruments/arrangements such as derivatives, DVP, CFD and Repo activity
Accounting convention knowledge
Ability to research, gather and consolidate information from a variety of sources

Experience:

Qualified Chartered Accountant and/or with appropriate academic training and qualifications in accounting, information systems, finance
At least 10 years relevant experience in a team leader role in a Financial services company with significant regulatory experience
Experience with big 4 accounting firm an advantage
Involved in developing and improving the control environment, internal reporting processes and systems, and cross divisional projects
Personal skills:  Ability to direct staff and actively challenge the business.  Presentation externally to counterparties of Newedge

Qualities

Has an interest in the changing regulatory environment
Is committed to personal development as well as the development and well being of other team members
Assertive, self confident, self motivated and determined to achieve personal and team goals
Possesses a proactive and solution orientated attitude

REQUIRED REGISTRATIONS:

CF10A

POSITION WITHIN HIERARCHY:

Reports to UK CFO