CASS Reconciliations and Treasury Operations Officer

The role holder works closely with the following stakeholders:

• Compliance / Legal: CASS policy guidance, regulatory change, FCA notifications and CMAR filing.
• Finance: Accounting reconciliation, shortfall funding authorisation, ALM reporting.
• Front Office (Treasury / HO): Trade confirmation, settlement instruction generation, FX and rates operations.
• IT / Systems: In-house custody, treasury and payment systems, and the SWIFT service bureau.
• External Sub-custodians & CSDs: CCBC HO and other sub-custody counterparties.
• Counterparty Operations: Correspondent banks and dealer counterparty operations teams for FX, fixed income and IRS settlement confirmation.

3. Key Responsibilities 3.1 CASS Reconciliations — Client Assets (CASS 6)
4. 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.
5. 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.
6. Maintain the three-way reconciliation framework (system counter balance vs external statement vs HO accounting balance) for all custody client portfolios.
7. Perform the daily Level 1 – Level 2 reconciliation to confirm custodian balances reconcile at individual client level (no aggregate portfolio-level balance available).
8. 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.
9. Confirm that all daily reconciliations are consistent before corporate action processing is initiated in the custody system.
10. Support preparation and maintenance of the CASS Resolution Pack, keeping reconciliation records, account registers, custodian details and break logs current and accessible.
11. Complete and submit the daily CASS Reconciliation Certificate (signed by the role holder; countersigned by the CASS Oversight Officer under maker/checker controls). 3.2 Cross-Border OTC Bond Operations (Custody Specialist Function) The role holder develops and maintains expert knowledge of:

• Settlement mechanics for cross-border UK–China OTC bonds, including settlement via CCDC and SHCH.
• 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. 3.3 Treasury Operations — FX Products Operations support for the firms plain vanilla FX activity:
• 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. 3.4 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. 3.5 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 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.