Want to be part of a high-energy, integral part of our business? Are you dedicated, ambitious, with a keen commitment to learning?
This is a rare opportunity to join the CACG which focuses on ensuring compliance with UK FCA Client Assets (CASS) rules. You will have overall responsibility for Governance reporting for our UK legal entities which give rise to Client Money and Assets, ensuring the firm aligns with Governance reporting obligations.
The CACG team is co-located in Dublin, Chester and London to support regulatory compliance with relevant rules. This role offers senior interaction with internal partners at various levels across the organisation.
The Governance function supports the Client Asset Oversight executive and the wider CACG team that comprises of a BAU processing team, QA Testing team and the Tactical change/SME team. This role would be suitable for an individual that comes from a COO or Business Control function and has an interest in learning about the Client Assets rules.
What will your responsibilities include?
Working closely with the senior management executives (Global and EMEA) to ensure established governance routines facilitate ongoing compliance with the Client
Handling and preparing Client Assets updates as part of regular Governance oversight management routines to ensure relevant forums, individuals and regulatory bodies are informed in a timely manner (e.g. EMEA Regional Controls Committee, MLI Audit Committee, SMF for Client Assets and the FCA, as required)
Handling the CASS Resolution Pack (CASS RP) for all UK FCA CASS regulated entities and the quarterly CASS RP attestation process
Representing Client Assets on Global Recovery & Resolution (GRRP) initiatives and coordinate ongoing submissions
Organising and supporting the senior Client Assets Certified Executive in quarterly meetings across the three lines of defense (e.g. Compliance, Operational Risk and Internal Audit) and with senior executives across the business lines where client money and assets arise
Preparing and coordinating materials for the monthly Client Assets Governance
Committee and Operating Group meetings, including minute taking
Assisting in the management of legal entity migrations, ensuring CASS governance requirements are understood and met
Planning and coordinating Client Assets executive training and workshops for key lines of business
Developing appropriate tracking and metrics for ongoing reporting of internal audit issues with Client Assets impact
What skills/competencies will you possess?
A good knowledge of the UK Client Assets CASS rules or another regulatory discipline would be helpful
An understanding of regulatory environment operated in the United Kingdom
Experience producing governance materials and MI for senior executive audiences
Advanced written, verbal and presentational skills for senior management updates including advanced MS PowerPoint skills
Ability to communicate and influence across all levels within the organization
General knowledge of the products that give rise to client money and assets and the associated operational processes
Solid risk and controls mind-set with the ability to understand and document process, risk and control matrices
Excellent Organisational and Multi-tasking skills to support the wider CACG team and input into global initiatives
Ability to influence outside of our team to drive and implement changes to the client asset control and regulatory environment
Ability to collaborate with different partners and build effective networks
Able to handle contending priorities
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.
The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch’s responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.