Client Money Oversight
My client is a leading Asset Management firm based in the heart of the city. They are currently recruiting for a Client Money Oversight candidate to join their team, on a temporary basis for 18 months approximately. The area in question has delegated transfer agency functions to Third Party Administrators (TPA), with the services provided including the client money and asset reconciliation's required under the CASS rules.
The Client Money Oversight role within the Service Delivery Team will be responsible for overseeing the functions performed by our current TPAs, which incorporate different client money models, as well as assisting the CASS Officer in the overall co-ordination and maintenance of CASS requirements.
Key responsibilities: -
• Understanding of our Legal Entity structure and the CASS rules / Client Money model applicable to each entity
• Ownership of the CASS resolution pack for components provided by TPAs
• Oversight of all daily client money activity, including daily oversight of reconciliation's performed by both TPAs
• Appropriate escalation of any issues identified as well as timely resolution of these
• Preparation and oversight of monthly CMAR returns
• Management of client money with our TPAs, including chairing monthly meetings, recording minutes and ensuring actions are followed up
• Change management with our TPAs (managing the end-to-end change process for new initiatives and CASS needs)
• Oversight of outstanding creditor and debtor positions on the register
• Preparation and maintenance of a centralised CASS breach log for each legal
• Preparation of regular MI for CASS Officer, CF10a, Control Forums etc.
• Point of contact for internal and external teams to raise client money questions / concerns and seek advice
• Assist with the development and delivery of CASS training
• Support and co-ordination of CASS audits and internal/external reviews
• Monitoring of Key Performance Indicators (KPIs) for TPAs – ensure timely and appropriate escalation of any trends / issues
• Coordination of and prioritization for TPA projects related to client money
Required Skills/Competencies:
• Detailed working knowledge of CASS rules
• Reconciliations knowledge (including CASS reconciliation requirements for both internal and external reconciliations of both cash and assets)
• Understanding of regulatory change, for example CP13/5
• Excellent communication skills
• Ability to build strong relationships both internally and externally with all levels
• Strong organisational skills
• Ability to multi task and remain calm and flexible under pressure
• Confidence in dealing with senior members of the organization
• Transfer Agency knowledge will be beneficial
Please outline application to Amit Jain.
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