Senior Head of Regulatory Operations

4 weeks ago

London, Greater London, United Kingdom Close Brothers Group Full time

Job Title: Senior Head of Regulatory Operations

About the Role:

The Senior Head of Regulatory Operations will be responsible for managing all aspects of domestic and international settlement, ensuring efficient and accurate execution while maintaining compliance with regulatory requirements.

This role will also be responsible for the placement and management of fund orders and the associated settlement.

Additionally, this role will also be responsible for all operational processes pre and post execution for clients of Close Brothers Group, ensuring timely and accurate placement, confirmation, and settlement of trades, as well as cash management processes on the platform within a designated control framework and within the company's risk appetite.

Key Responsibilities:

  1. Settlements:
    • Manage client & market settlement and custody for both domestic and international trading.
    • Monitor and manage the firm's risk exposure to incomplete trades that are past intended settlement and monitoring of settlement discipline inclusive of CSDR penalties & buy in risk.
    • Manage relationships with clients and market counterparts to ensure timely settlement and adherence to market developments & regulatory change.
    • Ensure all client contract notes are produced in accordance with the regulatory timeframe.
    • Implement, monitor, and enhance controls to mitigate risks related to settlement activities, including settlement discipline, interest claims, and buy in management.
    • Manage relationships with counterparties, banks, and other financial institutions to ensure smooth settlement operations.
    • Manage, lead, and develop the Settlements team ensuring effective performance, compliance, and ongoing professional development. Ensure staff are up to date with the latest industry knowledge, tools, and regulatory changes.
    • Identify, assess, manage, and report risks related to Settlements, implementing a comprehensive risk management framework.
    • Implement process improvements, optimisations, and changes to enhance operational efficiency and compliance with the regulatory framework.
    • Generate accurate and timely management information and reports to aid decision-making, including Key Risk Indicators and Key Performance Indicators. Develop mechanisms for data collection, analysis, and reporting to provide insightful management information.
    • Maintain transparency and clear communication with senior management, providing insightful reports, updates and escalation as appropriate.
    • Focus on continuous improvement, identifying and acting upon opportunities to enhance compliance, efficiency, and client service in all Settlement related activities.
    • Manage incidents ensuring appropriate escalation where required, complete root cause analysis and implement learning across people, process and as appropriate.
    • Ensure the Settlements policies, procedures and controls are maintained with any change communicated effectively.
  2. Cash Management:
    • Manage, lead, and develop the Cash Management teams ensuring effective performance, compliance, and ongoing professional development. Ensure staff are up to date with the latest industry knowledge, tools, and regulatory changes.
    • Ensure all money received is processed in a timely fashion, ensuring prompt allocation to clients and customers, maintaining adherence to the CASS rules.
    • Reviewing and authorising payments to clients and market counterparties.
    • Ensure Client Money Diversification is within tolerance.
    • Ensure all relevant funding for CSD's and Custodians is in place minimising overdrawn balances and associated fees.
  3. People:
    • Champion and promote the Company's Diversity, Equality and Inclusion (DEI) strategy, embedding DEI in all aspects of people practices including hiring, development and leadership across Trade Operations.
    • Promote a culture of continuous learning, collaboration, and accountability. Establish clear performance goals and provide ongoing feedback to drive team success, ensuring all skill-gaps for direct reports are acted upon and areas for development are supported.
    • Represent the Company and communicate effectively with stakeholders, clients, employees.
    • Ensure adequate time is given to conduct risk considerations by the department, and any risks identified are mitigated appropriately.
    • Lead by example in promoting a people-first approach, setting the standard for people management by consistently prioritising key goals such as objective setting, regular one-to-one meetings, performance appraisals and team development, and taking remedial action where appropriate.

Requirements:

  • Experience and working knowledge of Settlements both domestic and international, the trading cycle, as well as the ecosystem Close Brothers Group operates in within.
  • Understanding of the Fund, International and UK Market specifically the Custody Operations.
  • Understanding of the processing and settlement of equities, fixed income, closed and open-ended funds, structured products including pricing calculations and market charges.
  • Experience of payment processing via online banking systems.
  • Experience in CREST, Clearstream & custodian platforms, bank processing and AutoRek.
  • Mandatory Qualification: CISI Certificate in Investment Operations or equivalent.
  • Clear and structured communicator, able to quickly gain the confidence of governance committees.
  • Track record of delivery and setting high performance standards; clear focus and commitment to driving great customer outcomes, profitability, and shareholder value.
  • Proven ability to maintain a strong risk management and control framework throughout a significant market making or related department, inclusive of the ability to identify, assess, mitigate, and monitor risks and the offsetting controls.
  • Working knowledge of the regulatory frameworks and requirements that apply to the business, including the CASS rules when managing client's money or assets.

Benefits:

  • Competitive salary inclusive of discretionary annual bonus & annual pay review.
  • Work Abroad Policy for up to 15 days per year.
  • 25 days holiday plus bank holidays and additional well-being day.
  • Option to purchase an additional 5 days holiday per year.
  • Flexible working options available, including hybrid working (typically 3 days in the office and 2 days from home per week).
  • Pension scheme up to 10% employer contribution.
  • Sharesave scheme.
  • Income Protection & Life insurance (4 x salary core level of cover).
  • Private health care via BUPA.
  • Employee Assistance Programme.
  • Discounted Gym Membership.
  • Variety of travel to work schemes.

At Close Brothers Group we look to recruit individuals from all different backgrounds and encourage you to apply even if you don't tick every box. We celebrate diversity, promote inclusivity and are open to discuss flexible work options to help you balance your work and home life.

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