Client Money Officer CF10A

  • GBP50000 - GBP60000 per annum + benefits and bonuses
  • London, England, United Kingdom
  • Permanent, Full time
  • Global Reach Partners
  • 06 Feb 18 2018-02-06

This role will oversee the Group's compliance with all their obligations relating to client money. As the Group has an e-money institution, payment institution and investment firm, the client money officer is responsible for oversight across all regulated entities. The role also requires holding of all relevant controlled functions, specifically being an EMD Individual, PSD Individual and CF10a.

A fully FCA regulated Foreign Exchange brokerage, based in London, with almost 15 years of industry expertise and recognised in The Sunday Times top 100 best small companies to work for list. With access to over 130 major and local market currencies and a range of products we offer both our corporate and private clients a strategic streamlined approach to international trading, treasury and risk management.

THE ROLE

Oversee the Group's compliance with all their obligations relating to client money. As the Group has an e-money institution, payment institution and investment firm, the client money officer is responsible for oversight across all regulated entities. The role also requires holding of all relevant controlled functions, specifically being an EMD Individual, PSD Individual and CF10a.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Global Reach Markets (investment firm)

  • Ensure that the firm's policy and procedures, systems, controls and oversight enable compliance with the CASS rules
  • Undertake daily monitoring of client money operations 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 Head of Compliance and Risk and Client Money Committee
  • 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
  • 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 business on CASS compliance
  • Produce monthly oversight reports to the Client Money Committee
  • 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
  • Responsible for the enhancement and refinement of existing procedures/practices and processes

Global Reach Partners (Authorised Payment Institution)

  • Ensure that the firm's policy and procedures, systems, controls and oversight enable compliance with the safeguarding obligations under the Payment Services Regulations
  • Undertake daily monitoring of relevant funds operations 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 safeguarding issues to the Head of Compliance and Risk and Client Money Committee
  • Undertake thematic reviews at our service providers to ensure that their processes in relation to relevant funds comply with the Payment Services Regulations
  • To develop an ongoing training programme for the business on safeguarding compliance
  • Produce monthly oversight reports to the Client Money Committee
  • 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
  • Responsible for the enhancement and refinement of existing procedures/practices and processes

Foreign Currency Exchange (Authorised E-Money Institution)

  • Ensure that the firm's policy and procedures, systems, controls and oversight enable compliance with the safeguarding obligations under the Electronic Money Regulations
  • Undertake daily monitoring of relevant funds operations 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 safeguarding issues to the Head of Compliance and Risk and Client Money Committee
  • Undertake thematic reviews at our service providers to ensure that their processes in relation to relevant funds comply with the Electronic Money Regulations
  • To develop an ongoing training programme for the business on safeguarding compliance
  • Produce monthly oversight reports to the Client Money Committee
  • 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
  • Responsible for the enhancement and refinement of existing procedures/practices and processes

DESIRED EXPERIENCE/ QUALIFICATIONS

  • Relevant Compliance qualification (e.g. International Compliance Association, Chartered Institute for Securities & Investment)
  • Significant experience in a similar role or as Deputy CF10a
  • Experience and knowledge of the payments, e-money and foreign exchange options industry
  • Proven track record of implementing client money procedures and controls
  • Ability to understand the operating model of a high volume foreign exchange brokerage
  • Ability to lead and chair the Client Money Committee
  • Demonstrated leadership and team management skills

As part of our team we will provide you with a career development plan, with clearly defined objectives to ensure that you succeed. This is an opportunity to take a real step forward in your career with an organisation dedicated to its people.