Head of CASS

About us

Seccl is the Octopus-owned embedded investment platform that’s helping more people to invest – and invest well.

Our sector is being held back by old tech, dismal processes and misaligned interests. Together they create pointless complexity for financial planning and investment professionals, and provide outdated, overpriced experiences for customers. We’re on a mission to fix it.

We help forward-thinking financial planners, wealth managers and investment platforms to reimagine their business and client experience – empowering them to build better, more sustainable and more valuable operations, and meet the digital demands of the future, not the baseline expectations of the past.

And we do it by reimagining their technology – with a low-cost, hyper-efficient and (genuinely) API-first technology infrastructure that handles millions of requests every day, and powers the portfolios of more than 160,000 investors.

A regulated custodian and ISA/SIPP provider, we combine the disruptive mindset and ambitious mission to shake things up, with the commitment and substance to not screw them up.

We’re proud to be part of Octopus, the £12.8 billion group that’s on a mission to breathe new life into broken industries, through companies like Octopus Energy, Octopus Investments and Octopus Money.

TLDR

We’re a business with insane product-market fit, impressive early traction and an offering that has the potential to transform an outdated industry for the better. We’ve doubled the size of our business over the last six months and expect to do that a few more times over the next few years.

The role

Are you passionate about regulatory compliance and safeguarding client assets? Do you have a proven track record in ensuring adherence to FCA regulations? We’re looking for a Head of CASS to lead our efforts in maintaining robust systems, controls, and governance to ensure client funds and assets are always secure.

As Head of CASS, you’ll play a pivotal role in our senior leadership team, acting as the first line of defence for CASS compliance. You’ll have operational oversight of the firm’s processes, driving continuous improvement in our CASS posture.

You’ll be responsible for:

1. CASS framework management: Ensuring compliance with the FCA’s CASS rulebook by maintaining up-to-date policies and procedures.
2. Governance and reporting: Producing and presenting CASS management information to the Board.
3. Control oversight: Testing and enhancing our CASS controls to ensure they remain fit for purpose.
4. Technical expertise: Acting as the subject matter expert for CASS, providing guidance and technical support across the business.
5. Regulatory returns: Preparing client money and asset returns, ensuring accuracy and timeliness.
6. Regulatory change: Staying ahead of changes in the CASS landscape and advising on business implications.

This is an exciting opportunity to make a tangible impact, shaping our CASS compliance framework and contributing to the security and trust our clients place in us. If you’re ready to take on this critical leadership role, we’d love to hear from you!

Accountability and deliverables

Regulatory compliance

1. Interpret and implement FCA regulations related to client money and assets, ensuring Seccl’s adherence to these rules and requirements.
2. Supporting in the review of new business and product initiatives to ensure they align to the FCA’s CASS requirement.
3. Management of the CASS Resolution Pack.
4. Oversee the preparation and submission of accurate CMAR (Client Money and Asset Return) reports.

Policy development

1. Develop and update internal policies, procedures, and controls governing the handling, segregation, and protection of client money and assets in accordance with regulatory guidelines.

Risk management

1. Identify, assess, and mitigate risks associated with client money and asset handling, establishing risk frameworks and monitoring mechanisms to safeguard against operational and compliance risks in line with the enterprise-wide Risk Management Framework.

Internal oversight and audit

1. Establish robust internal oversight mechanisms and conduct regular checks to ensure adherence to established policies and procedures, rectifying any deficiencies or discrepancies found.
2. Coordination of the annual external CASS audit and support and assist any other 2nd and 3rd line CASS reviews and oversight.
3. Lead CASS governance framework, ensuring effective oversight of client money and assets processes.
4. Chair relevant committees and provide regular updates to senior management and the Board on CASS compliance and risks.

Reporting, monitoring and documentation

1. Prepare and submit accurate and timely reports to regulatory authorities as required by FCA guidelines. Maintain comprehensive documentation to demonstrate compliance efforts.
2. Implement monitoring and assurance programmes to test the effectiveness of CASS controls.
3. Analyse CASS breaches or near-misses, ensuring root causes are addressed and learnings are implemented.

Training and education

1. Identify and provide relevant training and guidance to our people, particularly those involved in handling client money and assets, ensuring a strong understanding of regulatory requirements and best practices.

Collaboration and communication

1. Liaise with various teams including 2nd and 3rd line, external auditors, and regulatory bodies to address concerns, provide updates, and respond to inquiries related to client money and assets.
2. Collaborate with internal teams (legal, compliance, operations, finance, product and engineering) to ensure CASS requirements are integrated into business processes.

You’ll be successful if you …

1. Have in-depth knowledge and understanding of FCA rules and regulations concerning client money and assets, including CASS (Client Assets Sourcebook) requirements and its practical application.
2. Have substantial proven experience within financial services or a similar regulated environment, with a focus on client money and assets, including application of FCA and MiFID rules.
3. Are a self-starter, someone who is proactive, organised and has the ability to work autonomously.
4. Are highly motivated, intuitive and possess initiative to identify potential process improvement.
5. Possess strong decision-making abilities and capable of implementing effective policies and controls.
6. Hold excellent analytical skills, attention to detail, and the ability to identify and mitigate risks effectively.
7. Possess strong communication skills to effectively engage with stakeholders and regulatory bodies and influencing skills with the ability to drive change.
8. Have the ability to simplify complex regulatory requirements into clear, actionable language, enabling teams across the business to understand and effectively implement compliance measures. Have relevant training, and certifications needed to effectively fulfil the role.
9. Possess strong leadership and operational oversight skills, with a commitment to safeguarding client funds.

This role isn’t for you if:

1. You rely on a lot of top-down direction. Here, you’ll have a lot of freedom and ownership of your role, and you’ll be expected to shape your own progression.
2. You’re not comfortable working in a fast-paced environment. Our speed and scalability is what set us apart; you need to be able to act quickly and think on your feet.
3. You struggle to follow through on your ideas. We value people who do what they say they will. If you care about something, you have the freedom here to make it happen.
4. You don’t like change. You’ll get on great here if you relish the ambiguity of rapid growth and are willing to embrace uncertainty.

Our culture

We are proud to cultivate a culture first, human environment and genuinely listen to our people about what matters to them most. As a result, we’re proud we’ve cultivated a transparent and inclusive environment that encourages diversity of thought, challenge and experimentation.

Our purpose is supported by a series of non-negotiable operating principles that define how we work to deliver value for each other and for our clients:

1. Never settle
2. Take ownership
3. Be generous and candid

We have offices in central Bath and Edinburgh, and London. We’re working as a hybrid team supporting each of our people to choose how they work best. We’ve always been supportive of flexible working that focuses on delivery and impact, rather than hours worked. Don’t just take our word for it, check out our Glassdoor page for the latest reviews or our Instagram and LinkedIn for company updates and insights from the team.

What’s in it for you…

We offer a generous blend of benefits for the things that really matter to our people, including:

• 27 days holiday + bank holidays (some can be flexible) + day off on your birthday.
• 3 days (full time) per year for Dependant leave.
• 2 days off per year to volunteer for a registered charity of your choice, including our charity partners Aid Box Community and Edinburgh Food Project.
• Length of service award – 1 month paid sabbatical at 8 years.
• 6% employer pension contribution, and life assurance.
• Private medical insurance with AXA Health.
• Enhanced Parental leave and flexibility to integrate your home and work life in a trusted environment.
• Will writing offering via Octopus Legacy.
• MacBook and up to £500 home office set up budget.
• £700 per person learning budget.

• Option to work abroad for up to 6 weeks in the year.

• Health and wellbeing initiatives including free therapy via Wellness Cloud, mental health support via Headspace.
• Strong financial wellbeing focus including access to Octopus Money , Octopus Share Incentive Plan and Seccl invest (our own platform for you to manage your investments).
• Octopus Electric Vehicle scheme after 12 months of employment.
• Perkbox – Flexi-points giving you a range of discounts and perks including free weekly coffee, gym and retail discounts.

• Cycle to work scheme – saving money on a range of bikes and accessories.

Our aim is to build a diverse and inclusive company of awesome people, with unique skills, passions and experiences. We encourage everyone to join us, whatever your gender identity, race, ethnicity, sexual orientation, age or background.

Please note that we do not provide sponsorship for candidates residing outside the UK. However, we welcome applications from individuals who possess valid work permits that allow them to work in the UK. If you already have the right to work in the UK or hold an eligible work permit, we encourage you to apply for this position.

We usually allow around two weeks for sourcing some great candidates so don’t be disheartened if we’re not in touch right away, especially as it’s the holiday season – we’ll let you know next steps as soon as we can.

If you think you have most of what we are looking for, then what are you waiting for? Go ahead and apply. We’d love to hear from you!

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