Head of Client Asset Oversight

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Job Description

Job Description:

We are looking for a Head of Client Asset Oversight (“HCAO”) for our new Ireland brokerage firm, for which approval is being sought from the Central Bank of Ireland (“CBI”).   It is expected that the successful candidate for this senior position will be approved by the CBI for the HCAO preapproved control function (PCF-45) and potentially Head of Finance (PCF-11).  

In this role the candidate will be responsible for the protection of client assets under the Client Asset Regulations, including associated reporting requirements and interfacing with auditors to ensure that the external assurance review is completed.

In addition, the candidate will also be responsible for meeting all prudential regulatory requirements (including external reporting), and will have ownership of the ICAAP process, resolution framework material and other required analytical submissions. 

In this role the candidate will undertake ad-hoc financial analysis of the business, and will be the key interface with auditors and the to the firms centralized accounting function.

The position offers the opportunity for significant professional growth.   It will suit an intellectually curious and highly organised person who is an analytical thinker.  The role reports locally to the Board and functionally to the Head of European Financial Regulatory Reporting.  The ability to streamline and automate manual processes will be highly valued.

 

The successful candidate may be an existing HCAO, and will be an expert in:

  • Implementing the detailed control and governance requirements to protect client assets under the Client Asset Regulations.
  • Meeting Irish and EU prudential regulatory requirements, including the preparation of periodic returns to the CBI, ideally at an investment firm.

 

Responsibilities:

  • Design, implementation and approval of controls over client assets in accordance with the Client Asset Regulations and CBI requirements.
  • Developing and coordinating the internal capital adequacy assessment process.
  • Managing and developing the recovery and resolution plans within the context of the CBI’s Resolution Framework.
  • Advising the Board of Directors and other functional areas of any relevant client asset, prudential regulatory and financial requirements.
  • Maintaining a good understanding of existing regulations and of upcoming developments, covering both client assets and prudential regulation.
  • Preparing and sending to the CBI all required prudential and client asset related returns for a MiFID investment firm.
  • Developing and enhancing all procedures related to good regulatory and financial controls.
  • Daily review of reconciliations and computations for the protection of client assets.
  • Researching the client asset and prudential regulatory impact of new products, services and markets.
  • Creating functional business requirements for enhancements to existing financial, regulatory and operational systems.
  • Planning, coordinating and managing audits and regulatory examinations, including the financial audit.

Qualifications & Experience:

  • University degree.
  • An accounting qualification and experience of working for a MiFID investment firm are both strong pluses.
  • A strong understanding of the Client Asset Regulations, and their practical implementation.
  • A thorough knowledge of EU regulation and directives and their implementation, especially CRR and MiFID II (as it applies to client protection).
  • Experience of working with equities, foreign exchange and listed derivatives.
  • Demonstrable experience of documenting and describing processes and policies.
  • Ability to work under pressure and in deadline-driven conditions.
  • Must be a self-starter with strong analytical and communication skills, as this role requires both multi-national interaction and independent work.
  • A good understanding of technology and the automation of operational tasks would be beneficial.

Send CV to ben.mcshane@cpl.ie or call me on 01 947 6307

Apply via LinkedIn

Ben McShane

Director 01 500 5907 ben.mcshane@cpl.ie