CASS Senior Specialist

Walker Crips Group; Greater London; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A prominent financial services firm in the UK seeks an individual to contribute to the CASS team, ensuring compliance with FCA's CASS regulations. Responsibilities include managing reconciliations, preparing CASS management information, and identifying risks. Ideal candidates should possess strong operational experience within the investment management sector and a solid understanding of CASS rules. The role supports hybrid working, ensuring flexibility within the team.

Qualifications

• Significant operational experience within investment management or stockbroking sector.
• Experience with investigations and developing processes/procedures.
• Ability to assess risks and develop appropriate responses.

Responsibilities

• Help to ensure compliance with FCA's CASS regulations.
• Manage internal and external reconciliations.
• Prepare CASS management information for meetings.
• Identify and escalate asset shortfalls.

Skills

Attention to detail

Organizational skills

Problem-solving

Analytical skills

Knowledge of FCA Client Asset (CASS) rules

Excellent MS Office skills

Strong communication skills

Job description

Contribute to the CASS team to help the firm achieve compliance with the FCA’s CASS regulations.

Help to ensure the following:

• External and internal reconciliations are completed in accordance with internal policies and frequency (including client money and client asset reconciliations).
• CASS incidents and breaches appropriately recorded, reported, and escalated and root cause analysis is conducted to prevent future recurrence.
• CASS management information is produced for monthly management meetings.

Key Responsibilities

• Help to identify, prepare, perform or assist with the following:
  • Client money receipts are identified on the day of receipt and allocated within 10 working days.
  • Ensure that asset shortfalls are identified and escalated for funding.
  • Prepare the Internal Client Money Reconciliation and investigate and understand any differences between the Client Money Resource and Requirement.
  • Prepare the Client Money External reconciliation and investigate any unresolved difference with Operations, Cashiers, Structured Products and Finance.
  • A key contact point in preparation and delivery management for Information requests across CASS Internal and External Audits (+ Compliance Monitoring).
  • Client bank/custodian account opening/closing process and associated due diligence requirements (including annual/periodic review).
  • Regularly prepare appropriate CASS Management Information.
  • Help to ensure the firm’s CASS Resolution Pack remain complete and fit for purpose, including weekly, quarterly and Annual Attestations re CASS 10.
  • Ensure completion of monthly CMAR preparation and submission in line with new rules or guidance.
  • Help to ensure CASS incidents/breaches are appropriately recorded, reported, and escalated and root cause analysis is performed to prevent future recurrence.
  • Take ownership of specific actions with the firm’s CASS Enhancement Plan.
  • Support the technical support required for external CASS consulting services.
  • Prepare and collate the Prudent Seg Calculation, while flagging any newly identified risks that could require a prudent seg funding provision.
  • Help design and implement CASS Risk Matrix, ensuring it is a good fit for WCIM’s size and complexity.
• Co‑operative team player with flexibility to work with changing tasks and activities under development/enhancement.
• Attention to detail, organised, problem‑solving and analytical skills.
• The ability to work independently and meet deadlines.
• Significant operational experience within Investment management/stockbroking sector.
• Knowledge of FCA Client Asset (CASS) rules and Risk Management within financial services.
• Experience with investigations, developing processes/procedures and executive level report writing.
• Ability to assess risks, evaluate impact and develop appropriate/proportionate responses.
• Proactive to improve what’s currently in place using working relationships with stakeholders across varying departments.
• Excellent knowledge of MS Office skills in Word, Excel and PowerPoint.
• Good communicator with ability to engage positively with colleagues at all levels and third parties.
• Hybrid working in the office 2 or 3 days per week minimum.

Person Specification

• Work with external Business Areas to assess the processes that relate to identified CASS Risk and record and evaluate effectiveness of controls in place and record in the CASS Risk matrix.
• Cover CASS Manager in absence in relation to Reconciliation sign offs, representation at internal and external CASS events.
• Co‑ordination and preparation of the monthly ISEM reporting and testing.
• Help to ensure corrective measures are taken to enhance controls, resolve weaknesses and automate for better effectiveness.
• Help to support and encourage CASS awareness across all areas of the firm’s Operations.
• Support or take a lead in ad hoc CASS Enhancement projects project work (e.g. internal control testing + deep dive analysis across identified operational issues).
• Help to ensure CASS risks are captured appropriately as part of the firm’s Risk Matrix.
• Monitor and provide regular updates over CASS policy, CASS Standards and CASS procedure and process map documentation.
• Support adhoc CASS project work, Internal Controls Testing + deep dive analysis into identified key operational issues.
• Semi‑Annual Physical Asset reconciliation. Investigate and elevate any unresolved difference with Operations.
• Monthly preparation of the UTU, AUD, PHS, DRS Custody Asset Reconciliation e.g. the Custodians that are not reconciled daily. Investigate and elevate any unresolved difference with Operations.
• Prepare the Daily Custody Asset External reconciliation and investigate any unresolved difference with Operations.
• Corrective measures are taken to enhance controls, resolve weaknesses and automate for better effectiveness.
• Reconciliation discrepancies are identified, ensuring the root cause is known or investigated.