The CASS Oversight team is responsible for the adherence to Client Money rules for the UK fund ranges. The team primarily ensures that our third party providers i.e Transfer Agencies comply with the CASS regulations
Overview of role
Provide lead support to the CF10a working with key stakeholders within the business and externally with service providers, auditors and when necessary the regulator.
Partner with the CF10a to ensure that the firm's policy and procedures, systems, controls and oversight enable compliance with the CASS rules
Act as deputy and, as required, the representative of the CF10a in the execution of his duties with both internal and external stakeholders
Undertake daily monitoring of client money operations undertaken by our outsourced suppliers and when necessary challenge exceptions to ensure appropriate action and if necessary remediation is taken where issues, breaches or potential breaches have been identified
Provide escalation and reporting of CASS issues to the CF10a and CASS Governance. Review all CASS breaches extracting themes and trends to be noted
Ensure the firm's CASS manual and resolution pack remains complete and fit for purpose.
Ensure the Client Money and Asset Return (CMAR) are accurate and completed on a timely basis and comply with any new rules or guidance
Lead the co-ordination of the annual CASS assurance review and audit. Monitor any actions raised to completion
Report on and escalate issues or problems which fall outside agreed service standards of our service providers
Undertake thematic reviews at our service providers to ensure that their processes in relation to client money and assets comply with the CASS rules
To develop an ongoing training programme for the Transfer Agency Oversight team on CASS compliance
Produce daily oversight reports to the CF10a and the CASS Governance Committee. Escalation of breaches to the CF10a & Compliance
Preparation of the monthly submission of the CMAR for the CF10a to submit
Maintenance of controls over the opening, closing and amendments to bank accounts and complete an annual review of Acknowledgement letters and due diligence of the banks where those accounts are held
To build and develop good working relationships between the team and its internal/external clients and suppliers
Has responsibility for the creation and provision of specific significant area(s) of Regulatory/Compliance information
Responsible for the enhancement and refinement of existing procedures/practices and processes.
10 years + within Asset Management or Transfer Agency
CASS SME - strong knowledge and proven track record in adhering to CASS Regulations