CASS Reconciliations & Treasury Operations Officer

THE COMPANY:

Our client is multinational Corporate banking company, with branches worldwide.

THE RESPONSIBILITIES:

CASS Reconciliations — Client Assets (CASS 6):

• Perform daily external reconciliation and monthly internal reconciliation of all safe custody assets (OTC bonds) held in the in-house custody management system on behalf of custody clients.
• Reconcile the securities ledger against external CSD and sub-custodian statements, CSD position data, and SWIFT MT564/566 corporate action messages from HO/sub-custodians.
• Maintain the three-way reconciliation framework (system counter balance vs external statement vs HO accounting balance) for all custody client portfolios.
• Perform the daily Level 1 – Level 2 reconciliation to confirm custodian balances reconcile at individual client level (no aggregate portfolio-level balance available).
• Classify, document and investigate all reconciliation breaks by severity, escalating significant breaks and client asset shortfalls immediately to the CASS Oversight Officer, and support root cause analysis and remediation.
• Confirm that all daily reconciliations are consistent before corporate action processing is initiated in the custody system.
• Support preparation and maintenance of the CASS Resolution Pack, keeping reconciliation records, account registers, custodian details and break logs current and accessible.
• Complete and submit the daily CASS Reconciliation Certificate (signed by the role holder; countersigned by the CASS Oversight Officer under maker/checker controls).

Cross-Border OTC Bond Operations (Custody Specialist Function)

• Settlement mechanics for cross-border UK–China OTC bonds
• SWIFT securities settlement messaging (MT540-series and ISO 20022 sese equivalents).
• Corporate action processing for custody bonds — coupons, principal redemptions, amortising, callable and puttable bonds and exchange offers.

Treasury Operations — FX Products:

• FX Spot: Booking, confirmation and settlement across major pairs (incl. USD/CNH, GBP/CNH), including netting.
• FX Forward: Confirmation, lifecycle and settlement of outright forwards and NDFs; awareness of UK EMIR reporting thresholds.
• FX Swap: Confirmation, settlement and monitoring of open forward legs.
• Settlement: Payment/receipt instructions via SWIFT (pacs.009 and pacs.008 ), CLS input and in-house payment processing; nostro reconciliation of treasury accounts.
• Trade Confirmation: Matching via SWIFT MT300/MT304; managing unmatched and unconfirmed trades.
• Regulatory Reporting: UK EMIR trade reporting and MiFID II/MiFIR transaction reporting where reportable.

Treasury Operations — Interest Rate Products

• Cross-Currency Swaps (XCCY): Confirmation and lifecycle management of basis swaps (esp. GBP/CNH, USD/CNH), including principal exchange, coupon exchanges and MTM margin calls.
• Regulatory Reporting: UK EMIR trade and lifecycle reporting for OTC rate derivatives; UTI generation, LEI validation, EMIR Refit support.
• Bond Repo: Confirmation and settlement of liquidity-management repo; reconciliation of open positions and accrued interest.

Controls, Risk and Compliance:

• Maintain maker/checker (four-eyes) controls at all times; never approve or sign off a reconciliation or adjustment the role holder has initiated or prepared.
• Log all operational errors and near-misses in the Operational Risk Event Register; support root cause analysis for client asset/money errors.
• Support monthly Client Money and Asset Return (CMAR) preparation under SUP 16.14, providing accurate reconciliation data to the CASS Oversight Officer.
• Support internal and external audit and FCA engagements relating to CASS reconciliation and treasury operations.
• Maintain current knowledge of the CASS Sourcebook, relevant policy statements, Dear CEO letters and thematic reviews; alert the CASS Oversight Officer to relevant developments.
• Complete all mandatory training (CASS Foundation and refresher, SM&CR, UK EMIR, AML/Sanctions) within prescribed timeframes.

EXPERIENCE REQUIRED:

• 3–5 years performing CASS 6 and/or CASS 7 reconciliations within an FCA-authorised firm (asset manager, custodian bank or broker-dealer); sound grasp of internal and external reconciliation obligations.
• Operational experience in a custody or sub-custody environment, covering securities settlement, corporate action processing and position reconciliation against CSD/sub-custodian statements.
• 3–5 years in treasury/derivatives operations supporting FX (spot, forward, swap) and/or interest rate products (IRS, XCCY); experience with trade confirmation, settlement and nostro reconciliation.
• Proficiency in a custody or treasury system; SWIFT messaging knowledge (MT300/304/540–548/940/950).
• Awareness of UK EMIR trade reporting and MiFID II/MiFIR transaction reporting as they apply to treasury and derivatives operations.