CASS Operations Associate - Client Money - Transact

An exciting opportunity has arisen to join Transact's Client Accounting department as a CASS Operations Associate, in the Client Money team. This is a great opportunity to be a specialist within our wider Client Accounting department.

The Client Accounting Department's overarching responsibility is to safeguard client money and assets held by Transact for clients by ensuring the money and assets are recorded accurately on portfolios and are reconciled as frequently as possible in adherence with CASS rules, to enable the firm at any time to distinguish client money and assets held for one client from client money and assets held for any other client.

The Client Money team has four primary functions:

• External and internal client money reconciliations;
• Timely and accurate client trade settlement;
• Timely and accurate processing of client deposits and withdrawals;
• Investigation and allocation of any unknown client money deposits.

Key responsibilities include:

• Responsible for performing the daily client money calculation, ensuring any client money shortfall is accurately calculated, and cash movement is completed before close of business, as prescribed in CASS 7;
• Responsible for performing daily external client money reconciliations for all client money bank accounts to third party bank statements, as prescribed in CASS 7;
• When performing both the internal and external client money reconciliations, the team is responsible for timely investigation, resolution, and escalation of any reconciling items;
• Timely and accurate settlement of client trades using BACS, CHAPS and CREST. Liaison with third parties when trade settlement issues arise;
• Processing foreign exchange transactions and ensuring all transactions are processed within deadlines;
• Investigation and timely resolution of unidentified client money, within prescribed CASS 7 deadlines;
• All activities must be completed according to documented procedures and within regulatory and internally prescribed deadlines.

Departmental Objectives:

• Ensuring procedures and process maps are updated when processes change, and at least quarterly. Ensuring procedures and process maps are relevant and accurate;
• Solid awareness of CASS 6/7/8 and any other regulations that are relevant to the core process in the Client Accounting Department;
• Fostering and maintaining strong working relationships with internal and external stakeholders;
• Awareness of how the Department's activities fit and support the Transact business proposition;
• Adherence to the FCA's Consumer Duty regulations, including ensuring that clients receive good outcomes;
• Drive a professional and ethical culture within the Department, aligned with the FCA's principles for business.

We are looking for individuals who thrive under pressure and are highly organised with the ability to prioritise workload within strict deadlines. You should have an aptitude for figures, with the ability to understand and summarise large quantities of complex information accurately. This role involves a high volume of administration, therefore the successful candidate should be self-motivated with strong attention to detail.

You must be highly proficient in Microsoft Excel. You must have excellent communication skills, with the ability to deal with staff across various departments.

This role is open to those with relevant CASS/client money administration experience in a similar business or recent graduates who are looking for their first step into financial services. We are keen to encourage continued learning and the successful applicant will have the opportunity to undertake relevant financial services qualifications.

The role is based in our central London office, working a minimum of two days a week in the office and three days a week from home.

Transact is a leading UK investment wrap platform for financial advisers and their clients. Our culture is collaborative, inclusive and open-minded. We work hard to continually challenge the way we do things to maintain our market leading status.

As a customer-centric and client focused business, we put our clients at the heart of everything we do. Our platform enables clients and their advisers to manage their financial portfolio in one single online place, and is supported by unrivalled personal service. Our goal is to make all aspects of portfolio management as easy and efficient as possible for everyone involved, through the features we develop, our integrations with other systems, and the support we provide.

We provide a diverse and inclusive workplace and ensure that all of our staff respect and understand individual differences. We are an equal opportunities employer and positively encourage applications from suitably qualified and eligible candidates regardless of age, disability, gender reassignment, marital or civil partner status, pregnancy or maternity, race, religion or belief, sex or sexual orientation.