Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.
Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.
Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.
What we're building
We now need a Cass Oversight Manager to support the transformation and the future growth of the business within the IT and Business Change function, so it can simplify our IT architecture by removing our legacy systems and investing in modernised, lower-cost technology systems, and deliver a digital platform that provides a single view of our customers.
This is an exciting and rare opportunity to join a new CASS oversight function in its infancy and to build out the CASS oversight arrangements and a supporting team for a CASS medium Firm type, with the expectation that this may grow to Large in the coming years. We are looking for a Senior hire to support and contribute to delivery of the CASS Oversight Framework model and to build a supporting oversight team for the launch of a new ISA and GIA product in Q1 2020. This role will report to the Chief Operating Officer (COO). We are recruiting now and expect this role to become the Certified Function 'CASS Operational Oversight Function' under the new FCA SM&CR regime from 9th December 2019.
Candidates must have demonstrable technical knowledge and expertise of CASS rules and regulations to provide CASS guidance and technical support for the business and to contribute to senior management committees/meetings and manage the CASS oversight Framework on a day to day basis, reporting to the SMF1 with (z) responsibility. Other CASS responsibilities will include managing accurate cash flow information, oversight of daily CASS reconciliations, management of breaches and incidents, conducting root cause analysis and ensuring appropriate remedial steps are clearly defined and assigned to mitigate risk, ownership and submission of the CMAR, oversight and annual review of the external custodian and
We expect the candidate will have completed the CISI - Client Money & Asset Examination and will have a significant Investment Operations and Custody experience with a solid understanding of FCA Cass rules relating to client money.
What you'll do
Leading on the day to day oversight of Client Money and Assets and the adequacy of systems, governance, control and oversight of Custodial services to ensure compliance with the FCA CASS Sourcebook
Responsible to the SMF1(z) and supporting them with their accountability and oversight of all MGMA Limited related CASS activities
Provide assurance to the Board and SMF1(z) on CASS oversight and operations
Responsible for ensuring that actual and emerging CASS operational, conduct and compliance risks are assessed and controls identified, documented and assured across internal Operations
Leading the CASS Oversight Team and direct management of up-to 2 FTEs and oversight of all staff involved in CASS operations, and working with the heads of all departments involved within CASS operations to ensure they understand their responsibilities
Responsible for firm-wide CASS awareness, provide training to all CL staff and embedding a CASS Compliant culture
Providing advice and oversight on operational effectiveness of CASS operations to all functions and teams involved with managing, handling and administering Client Money and Client Assets
Chair the CASS Oversight Committee and manage delegated responsibilities for the MGMA Limited Board
Responsible for informing the FCA of CASS breaches and failures, and continuing dialogue through to the remediation of the root cause
Liaison with the 2nd and 3rd lines of defence (Compliance and Internal audit) in the execution of their roles in relation to Internal audit reviews, annual external CASS audit and Compliance monitoring
Responsible for ensuring remedial action is delivered, where identified from breaches, failures and audit reviews
Who you are
Expectations are that the holder of this role will have an in-depth knowledge of the CASS rules and their application within a CASS medium or large firm type
Experience in a senior CASS role, must have worked in a CASS oversight role (CF10a or deputy Cf10a)
Strong analytical skills and an eye for detail
Preferable to have a background in operations and Finance
Can act independently with initiative and decisiveness, and is aware of when to escalate issues
Experience within a Wealth Platform Manager
Lead and Chair the CASS Oversight Committee
Proven ability to implement CASS procedures and controls
Strong influencing skills
Educated to degree level or qualified in either ACA/ACCA/CIMA or had experience in an Operations or Finance manager role
Relevant Compliance qualification (e.g. International Compliance Association, Chartered Institute for Securities & Investment
What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including car allowance, income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.
Our focus is to have an engaged, committed and motivated work force, operating in a high performing and collaborative culture. We want to create an organisation that offers opportunities for all our people to develop their skills and talent, and build rewarding careers with us.
Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.
Internal Number: 6178565
About Canada Life Limited
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