About the client
The Client is a division of the Corporate, Investment Banking and Markets business line of a Foreign Bank and has four businesses of Custody & Clearing, Corporate Trust & Loan Agency, Institutional Fund Services, and Alternative Fund Services. This division accounts for 99% of USD2 trillion of Client assets serviced by the parent company.
About the role
The role holder will lead dedicated team members based in KL and drive increased levels of Client Assets & Money (CASS) assurance across four service centres (KL, Manila, Colombo and Kolkarta) in particular through, and not limited to, robust governance, incident investigation and read-across, employee education and training, Client Money and Assets Reporting (CMAR) due diligence, deep dive reviews and assurance testing.
This position also provides thought leadership into the ongoing development of the CASS Assurance programme, to ensuring the organisation both onshore (UK, Greece and Luxemburg) and offshore maintains strong standards and the highest levels of compliance as they relate to the Financial Conduct Authority’s (FCA) UK CASS (client assets protection) regime.
- Develop and implement strategy to enhance client assets protection within the business.
- Maintain a robust CASS governance framework.
- Promptly assess and clearly communicate risks to the Head of CASS Assurance or COO. Propose solutions and oversee the effective execution of mitigation plans.
- Provide leadership and direction on incident reviews (breaches). Ensure that appropriate read-across is undertaken and drive robust remediation to timely completion.
- Institutionalize a robust training programme to increase CASS awareness and understanding onshore (UK, Greece and Luxemburg) and offshore (KL, Manila, Colombo and Kolkata).
- Act as a point of coordination for external/internal audits and reviews. Ensure any points are completed by target date or escalated on a timely basis.
- Define and execute against an end to end assurance and testing plan, thereby reducing the risk of unidentified or long standing control lapses.
- Provide guidance to the global business on conformance with Client Asset Policy and the sharing of best practices to continuously improve the control and protection of client assets.
Customers / Stakeholders
- Develop and maintain strong relationships with the leadership teams across Europe, Service Centres (Heads and VPs) and other key stakeholders.
- Work with the Client Assets Oversight Officer and Client Assets Oversight Officer office in executing their responsibilities.
- Demonstrate effective partnership with Internal and External Audit, Compliance and BRCM teams.
- Provide succinct communication of progress, risks and issues to senior management.
Leadership & Teamwork
- The role requires proactive collaboration with multiple stakeholders at different levels of seniority in order to successfully deliver results.
- The role holder is working with the Head of CASS Assurance to provide thought leadership into the on-going development of the CASS Assurance program.
- Use effective influencing skills to ensure delivery of business objectives and increase CASS knowledge and capability across the business.
- Support achievement of the vision, values, goals and culture in personal behaviour, actions and decision making.
- Provide technical leadership and support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same.
Operational Effectiveness & Control
- Assess the resiliency of the control framework in the context of CASS, escalating areas of concern on a timely basis and supporting management in the implementation of effective solutions.
- Lead the development, implementation and maintenance of CASS management information and analysis. Ensure the reporting framework supports and informs on a timely basis and leads to effective risk assessment and resolution.
- Work closely with the Head of CASS Assurance in executing a robust CASS governance framework. Drive procedures, practices and standards to ensure quality, effective risk management and regulatory compliance.
- Demonstrate that controls are in place to meet criteria required for CASS Resolution Planning.
- Implement risk based testing (assurance) approach to assess end to end operating effectiveness of CASS processes and controls.
You will have
- Relevant experience of 10 years’ in Securities Services Operations or control environment preferably in both Custody and Funds in a management role with a minimum 3-5 years in CASS or equivalent experience in a business operational environment.
- Demonstrable knowledge of CASS rules and their application to business models and processes in a complex global business unit.
- Proven track record of delivery in relation to regulatory compliance.
- Tier 1 Financial Services experience: ability to operate within a federated model spanning multiple geographic locations.
- Relevant experience of client management/screening or audit or internal control.
- Exercise strong influencing skills and effective communicator at senior management level.
- Evidence of Operational risk expertise with ability to identify risks and build mitigating controls across front to back processes.
- Outstanding people management skills.
- Resourceful, creative and inquisitive approach to highly complex tasks.