Regulatory Analyst (CASS)

Job Title: Regulatory Analyst (CASS)

Location: Bristol 

Mission

Pax2pay is a rapidly growing FinTech business on a mission to modernise and simplify payments for the Travel industry. Our customers are some of the biggest players in the Travel sector and our partners are key players in the FinTech world. Established in 2019, we are currently a growing team of 28, with the aim of becoming the number one choice for B2B payments within the UK and EEA.

History

Pax2pay has an award-winning digital payment solution, making travel payments easier, faster, and safer for the entire travel industry. We enable businesses to pay for their business costs via virtual cards and bank transfers — everything from hotel bookings to flights; travel transfers to tour bookings; utilities to SaaS subscriptions — whatever it is, we’ve got you covered. Pax2pay has settled billions of pounds worth of transactions, won numerous industry awards including “Most Disruptive Payments Technology”, and supported some of the largest and most successful players in the Travel Space.

Role

Pax2pay, is seeking a diligent and experienced first line Regulatory Analyst with a strong focus on the Client Assets Sourcebook (CASS). This Regulatory Analyst will report to the Head of Operations and is pivotal in ensuring the firm maintains robust regulatory compliance with the incoming CASS 15 rules. The role holder will work with a wide range of stakeholders from around the business to analyse the current processes and controls against the incoming changes and work with them to implement the required updates. This exciting new role is critical to our continuous commitment to regulatory excellence. 

Responsibilities

Safeguarding - CASS 15 Compliance (Client Money and Assets)

• Implement and Oversee CASS Controls: Design, implement, and continuously monitor key operational controls to ensure full compliance with the FCA's incoming CASS 15 rules
• Daily Reconciliations: Support Customer Operations with daily CASS reconciliations, ensuring accurate and timely identification and resolution of all breaks and discrepancies in line with regulatory requirements.
• CASS Governance: Support the maintenance of the firm’s CASS documentation, including the CASS Policy and Procedures, ensuring they remain fit for purpose and reflect current regulatory expectations and business operations.
• Internal & External Reporting: Prepare and submit accurate and timely internal CASS Management Information (MI) and contribute to external regulatory reporting where applicable.
• Support the Annual CASS Audit: Act as a key liaison with external auditors during the annual CASS audit. This includes coordinating the provision of required documentation, sample data, reconciliation records, procedure manuals, and addressing audit queries to ensure a smooth and timely sign-off.
• Resolution Pack Maintenance: Contribute to the development and ongoing maintenance of the firm's Resolution Pack documentation as required by the regulator, focusing on the mapping of critical services and the segregation/return of client funds.

Operational Risk & Controls

• Risk Framework Maintenance: Assist in the ongoing development and embedding of the Operational Risk Framework, specifically identifying, documenting, and assessing risks related to payment flows, technology, and third-party service providers.
• Control Effectiveness: Conduct regular testing and reviews of internal controls across all operations to ensure they are effective, efficient, and adequately mitigate regulatory and business risks.
  

Breach Analysis and Reporting

• Root Cause Analysis (RCA): Perform thorough and meticulous Root Cause Analysis for all identified breaches, control failures, or operational incidents.
• Remediation Tracking: Monitor and track the implementation of remediation actions to ensure effective closure of all identified issues where there is a regulatory impact

Experience

Essential: 2 - 5 years proven experience in a Regulatory Compliance, Risk, or Operational Oversight role within a UK CASS regulated financial services firm

Expert Knowledge: Solid working knowledge and practical application experience of the FCA CASS rulebook. Knowledge of other relevant EMI/payment regulations is a bonus

Analytical Skills: Excellent analytical and problem-solving abilities, with a keen eye for detail and the capability to perform robust root cause analysis.

Communication: Strong written and verbal communication skills, with the ability to clearly articulate complex regulatory issues to both technical and non-technical stakeholders.

Organisational Skills: Highly organised, with the ability to manage multiple regulatory deadlines and priorities effectively