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CASS Compliance Oversight Specialist

Apply now Job no: 064891
Work type: Permanent Full Time
Location: Hybrid, England - Newcastle, England - Leeds, Scotland - Glasgow City Centre, Remote - work from anywhere within the UK
Categories: Specialized Business

Business Unit: Group Commercial, Joint Adventures
Salary Range: £38,882 - £49,000 DOE
Location: Remote & Hybrid (various locations)
Contract Type: Permanent

We’re at our best when we have something to drive us forward, a belief that underlines who we are and what we do. Our Purpose. We want to make people happier about money – and that idea starts with every single one of us here at Virgin Money. Feeling Insatiably Curious about your next adventure? You might have just found it.

Virgin Money Investments (VMI) is a joint venture between Virgin Money plc and abrdn plc. VMI provides investments and pensions propositions combining Virgin Money’s brand, scale and retail distribution expertise with abrdn’s market-leading investment solutions and asset management technology.

We’re seeking a CASS Compliance Oversight Specialist to join this dynamic team as part of the first line CASS Office. You’ll be a subject matter expert and support the CASS Senior Manager in ensuring VMI meets its regulatory requirements and obligations for handling client assets and money as set out in the Financial Conduct Authority (FCA) Handbook.

This role in a nutshell…

  • You’ll perform daily CASS oversight testing and maintain evidence to ensure oversight is focused on all relevant rules. Execute in line with risk-based plans to confirm our ongoing compliance. Oversight performed is both internal and of our Third-Party Administrators (external outsourcers).
  • You’ll also report the results of CASS oversight testing, agreeing and implementing remedial action where required. Raise CASS breaches as required.
  • Maintain the CASS Resolution Pack, maintaining up-to-date knowledge of outsourcer and VMI processes to ensure oversight is appropriately targeted
  • Maintain up-to-date knowledge of CASS rules and their applicability
  • Serve as the primary point of contact with outsource providers for the reporting and resolution of all CASS breaches
  • Prepare the monthly FCA Client Money and Assets Return (CMAR) and perform associated oversight of the input data
  • Maintain compliant acknowledgement letters for all client money bank accounts
  • Perform half yearly bank due diligence to assess suitability to hold client money
  • Support the collation and reporting of information relating to the annual external CASS audit and any ad hoc internal CASS audit reviews
  • Contribute MI and commentary to the CASS Senior Manager’s reporting, including reporting to the FCA
  • Report to the CASS Forum, Operating Committee and Risk & Capital Committee, as required, on the results of oversight activities and preparation of the CMAR
  • Support and track risk assurance and audit review activities and actions to completion

To be successful you’ll need to bring

  • Sound understanding of the FCA’s client asset (CASS) regulations and the investment industry more broadly
  • Self-motivation to stay up to date on developments in the CASS space
  • Thorough understanding of Third-Party Investment Management administration process
  • A natural ability to engage people as you develop, maintain and grow positive relationships with our partners and stakeholders
  • Excellent verbal and written communication skills including report writing at senior level
  • Good planning and organisation skills and the ability to work under pressure and unsupervised

We’d love you to have 

  • Educated to degree-level
  • Relevant professional qualification e.g. Chartered Accountant, Chartered Banker

We really need you to have the skills and experience listed in the ‘to be successful you’ll need to bring’ section above, but the rest is just our wish list, so please don’t let that put you off applying, we’d love to hear from you!

Here’s what it means for YOU:

  • 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)​
  • Five extra paid well-being days per year​
  • A 35 hour working week
  • 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
  • Market leading Pension & Private Medical Insurance
  • Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
  • Ability to work anywhere in the UK​ (where the role allows)


And, you get these Red Hot Rewards from day one!

Inclusion at Virgin Money

Inclusion is at the heart of everything we do here at Virgin Money. It’s good for you, it’s good for us and it’s amazing for our customers. We know that great minds don’t think alike, so we rely on your diverse thoughts, feelings, beliefs and backgrounds to be the best we can possibly be. Got any questions about this or need some support with your application? We’d love to hear from you so get in touch with our careers team at careers@virginmoney.com.

Point to note…

At the minute, depending on which team you are joining, lots of us are working from home. This is something that may change over time, and if so, we will come together in one of our hub locations, giving you the chance to meet your new colleagues in person. We will of course, make sure you have the IT equipment to access our systems and to interact digitally with your new team and colleagues, but we thought it best to let you know this in advance, so you can make sure you are set up to work safely and productively. If you have any questions on this let us know!

Now the legal bit…

If we offer you a job and you accept, there are some checks we need to complete before you can start with us. This will include a credit and criminal record check, as well as providing 3 years' worth of satisfactory references.

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Applications close: GMT Daylight Time

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