Safeguarding Controls Analyst - 6M FTC

About the role:

The Customer Funds Safeguarding Senior Analyst is a critical role responsible for establishing, implementing, and overseeing the company's framework for safeguarding customer funds in accordance with relevant regulations and best practices. This role will ensure the robust protection of client money, minimizing the risk of loss, misuse, or fraud. The post-holder will be the subject matter expert on customer funds safeguarding and will work closely with Finance, Compliance, Legal, and Operations teams to maintain a secure and compliant environment.

Key Responsibilities:

• Strategy and Policy Development:
• Develop, implement, and maintain a comprehensive customer funds safeguarding strategy aligned with relevant legislation, regulatory requirements (e.g., FCA Client Money Rules, Payment Services Regulations), and industry best practices.
• Create and regularly review clear and detailed policies, procedures, and controls for the receipt, holding, and disbursement of customer funds.
• Ensure policies are embedded across all relevant departments and processes.
• Compliance and Regulatory Adherence:
• Maintain a thorough understanding of all applicable customer funds safeguarding regulations and ensure the company's practices are fully compliant.
• Monitor regulatory changes and proactively implement necessary adjustments to policies and procedures.
• Act as the primary point of contact for regulatory inquiries related to customer funds safeguarding.
• Operational Oversight and Controls:
• Oversee the day-to-day operations related to customer funds, ensuring adherence to established policies and procedures.
• Design and implement robust internal controls to safeguard customer funds, including segregation of duties, reconciliation processes, and transaction monitoring.
• Ensure the accurate and timely recording of all customer funds transactions.
• Reconciliation and Reporting:
• Establish and oversee regular and accurate reconciliation processes between internal records and third-party holding institutions (e.g., banks, custodians).
• Investigate and resolve any discrepancies in a timely and efficient manner.
• Prepare and present regular reports on the status of customer funds safeguarding to senior management and relevant committees.
• Risk Management:
• Identify, assess, and mitigate risks associated with the safeguarding of customer funds.
• Develop and implement risk mitigation strategies and contingency plans.
• Conduct regular risk assessments and reviews of customer funds safeguarding processes.
• Relationship Management:
• Liaise with third-party holding institutions, ensuring appropriate agreements and oversight are in place.
• Build and maintain effective working relationships with internal stakeholders across Finance, Compliance, Legal, and Operations.
• Audit and Assurance:
• Support internal and external audits related to customer funds safeguarding, providing necessary documentation and explanations.
• Implement recommendations arising from audit findings.
• Training and Awareness:
• Promote a culture of awareness and responsibility regarding the protection of customer funds.
• Continuous Improvement:
• Keep abreast of industry best practices and emerging risks related to customer funds safeguarding.
• Continuously evaluate and improve the company's safeguarding framework based on internal data, external feedback, and evolving best practices.

Person Specification:

Essential Skills and Experience:

• Proven experience (typically 3+ years) in a role focused on customer funds safeguarding, client money management, or financial compliance within a regulated industry (e.g., financial services, payments).
• A strong and in-depth understanding of relevant customer funds safeguarding regulations (e.g., FCA Client Money Rules, Payment Services Regulations).
• Demonstrable experience in developing and implementing customer funds safeguarding policies, procedures, and controls.
• Strong understanding of accounting principles and reconciliation processes.
• Excellent analytical and problem-solving skills, with meticulous attention to detail.
• Strong communication and interpersonal skills, with the ability to explain complex issues clearly and concisely. 
• Ability to work independently and as part of a team, demonstrating initiative and a proactive approach.
• High level of integrity and a strong commitment to ethical conduct.
• Proficiency in using relevant accounting software and IT systems.

Desirable Skills and Experience:

• Relevant professional qualifications in accounting, finance, or compliance (e.g., ACCA, CIMA, ACA).
• Experience of managing relationships with third-party holding institutions.
• Experience in conducting risk assessments and implementing risk mitigation strategies.
• Experience in preparing reports for regulatory bodies.

Personal Attributes:

• Highly organised and detail-oriented.
• Strong sense of responsibility and ownership.
• Ability to work under pressure and meet deadlines.
• Proactive and solution-oriented.
• Committed to continuous learning and professional development.