Job Description
JPMorgan Asset Management has entrusted its Transfer Agency functions to a Third Party Administrator (TPA). These services encompass client money and asset requirements, as mandated by the Financial Conduct Authority (FCA) Client Assets Sourcebook (CASS) rules. Despite this delegation, JPMorgan Asset Management (JPMAM) retains full accountability for compliance with CASS regulations.
As an Asset Management - CASS Oversight Associate at JPMorgan Asset Management, you will play a key role in ensuring our compliance with CASS regulations. Reporting directly to the CASS Oversight Manager, you will collaborate closely with our global team. Your role will be integral in coordinating and maintaining CASS requirements across the firm, ensuring all regulatory obligations are met. You will oversee compliance with various CASS rules, conduct thorough reviews, and focus on maintaining robust controls and effective risk management strategies. This role offers you the opportunity to contribute to our commitment to regulatory excellence and to grow within a dynamic and collaborative environment.
Job Responsibilities:
- Understand Legal and Regulatory Framework: Acquire a comprehensive understanding of JPMorgan Asset Management's legal entity structure, along with the specific CASS rules and client money models applicable to each entity.
- Oversee Daily Client Money Operations: Supervise all daily client money activities, including the reconciliation of both client and non-client money bank accounts managed by the TPA. Ensure the accuracy of client entitlement reports and maintain precise records of bank account balances. Conduct daily reconciliations for client money bank accounts not managed by the TPA.
- Monitor CASS Compliance: Track and assess CASS breaches, ensuring that remediation and preventative actions are appropriate. Maintain a centralised log of CASS breaches to ensure comprehensive tracking and accountability.
- Conduct TPA Site Visits: Perform regular site visits to the TPA for oversight and monitoring. This includes accurately recording minutes and ensuring the timely completion of all action items.
- Prepare and Present Reports: Develop and deliver regular reports to the CASS Senior Manager and the CASS Governance Committee, ensuring that all relevant data and insights are accurately presented to support informed decision-making, Issue Escalation and Resolution: Appropriately escalate identified issues and work towards their timely resolution, maintaining effective communication.
- Oversee CMAR Submissions: Manage the preparation and oversight of monthly Client Money and Asset Return (CMAR) submission, ensuring accurate and compliance.
- Coordinate projects and Change Management: Support the coordination of CASS-related projects and change management initiatives in collaboration with the TPA, ensuring seamless integration and alignment with organisational objectives.
- Represent JPMAM in CASS Forums: Act as a representative for JPMAM at TPA and industry CASS forums, facilitating effective communication and building strong relationships with other TPA clients.
- Manage CASS Resolution Pack: Ensure the CASS Resolution Pack is current and effectively managed, monitoring associated controls to maintain compliance and readiness, Serve as CASS Point of Contact: Act as a point of contact for internal and external teams to address CASS-related questions or concerns.
- Support CASS Audits: Provide comprehensive support for both internal and external CASS audits by ensuring meticulous preparation and fostering effective collaboration with auditors.
- Monitor Industry Changes: Stay informed about industry changes and assess their potential impact on business operations, supporting proactive adaptation and compliance, Maintain documentation that records JPMorgan's mapping of CASS rules to its controls & risk matrix.
Required Qualifications, Capabilities and Skills:
- strong business CASS experience (better if within the Transfer Agency space.)
- In-Depth CASS Knowledge: Comprehensive understanding of CASS regulations, with hands-on experience in the completion of client money reconciliations and relationship management with TPA.
- Compliance and Risk Awareness: Maintains a positive attitude towards compliance, controls, and risk mitigation.
- Analytical Confidence: Ability to confidently challenge and question to thoroughly understand issues and processes.
- Change Management: Experience in regulatory and business change, ensuring seamless integration and compliance through project governance.
- Effective Communication: Ability to convey information clearly and effectively to diverse audiences, both in writing and verbally.
- Relationship Building: Skilled in establishing and maintaining strong relationships with internal teams and external partners.
- Strong organizational and prioritization skills, detail oriented, and strong interpersonal skills
- Ability to deal with different stakeholder groups to elicit business requirements, procedures, and processes.
- Be a team player who shows commitment and dedication while maintaining a positive attitude and high level of performance on high profile/time-sensitive initiatives.
About Us
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world's most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
About the Team
J.P. Morgan Asset & Wealth Management delivers industry-leading investment management and private banking solutions. Asset Management provides individuals, advisors and institutions with strategies and expertise that span the full spectrum of asset classes through our global network of investment professionals. Wealth Management helps individuals, families and foundations take a more intentional approach to their wealth or finances to better define, focus and realize their goals.
