CASS Specialist – CASS Assurance Team
-
Wells Fargo
- London
- Wells Fargo - London
Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Ireland, Beijing, Cayman Islands, Dubai International Financial Centre (DIFC), Hong Kong, London and Seoul.
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About the Department:
The CASS Assurance Team is responsible for the daily assessment and treatment of exceptions together with the formulation of the Client Money requirement calculations for UK based Wells Fargo entities. QA functions, enhanced controls along with full oversight & ownership of the CASS functions.
Overview of the Position:
The CASS Specialist will cover a variety of tasks including CASS project work, building out the firms CASS controls, provide quality assurance and conduct BAU functions. They will also be cover for team members.
Responsibilities:
The successful candidate will be expected to:
- Support projects, take responsibility and produce high-level working documents.
- Support Compliance with responses to consultations and implement the necessary changes to CASS policies, procedures, process and systems.
- Support in the delivery of required regulatory changes projects or business initiatives in relation to CASS.
- Understand and challenge the business processes and controls and be able to document them back to the CASS rule book
- Oversight of US based Operations teams performing CASS impacting functions, including reviewing processes and controls, undertaking QA, sample test and/or collate data in a timely fashion to ensure compliance with relevant FCA rulebooks (CASS, COBS, SYSC, etc.).
- Perform due diligence of client money banks and brokers including onsite visits where necessary.
- Provide Management Information to CASS stakeholders (eg. CF10a, CASS Control and Compliance functions).
- Contribute to the delivery of timely and accurate reporting to regulators and the firm’s board.
- Work with Operational Risk team to identify all Operational Risk considerations in relation to CASS and related functions/processes
- Attendance at industry conferences/events, networking & roundtables in relation to CASS
- Other duties as assigned.
Market Skills and Certifications
Market Skills & Certifications:
Essential:
The successful candidate will be able to demonstrate:
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- Comprehensive & technical knowledge & understanding of CASS rules and application/treatment in relation to CASS 1, 3, 6, 7, 8 & 10 rule sets.
- A working & detailed knowledge/understanding of CASS rules and application and impact of Banking Exemption.
- Understanding of Settlement & Corp Action events in relation to MiFID ll eligible products and impact on treatment as Client Money events.
- Previous track record in process improvement with a view to developing/enhancing controls.
- Assertiveness: the candidate will be expected to challenge Operations & Business teams globally to obtain required data and/or information.
- Experience of producing MI, KPIs and reviews in accordance with SLAs
- Presenting to senior management and stakeholders.
- Solid communication/Organisational skills – to work with local and remote Operations and Compliance/CASS Control stakeholders.
- Product knowledge of the Broker/Dealer business and Futures, Derivatives/Fixed Income and Equities spaces.
- Good Excel, Word, SharePoint and PowerPoint skills.
- May involve travel to the US
Wells Fargo team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. As a Wells Fargo team member, you are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Job type:
Full-time