Ireland Head of Client Assets Oversight

  • Competitive
  • Dublin, Leinster, Ireland Dublin Leinster IE
  • Permanent, Full time
  • Bank of America Merrill Lynch
  • 20 Jun 18 2018-06-20

Ireland Head of Client Assets Oversight

Job Description:
Corporate Title: Director
Location: Dublin
Line of Business: Global Tech and Operations

Want to be part of a dynamic, high-energy culture? We are happy announce a new exciting opportunity as the Ireland Head of Client Assets is available for a talented, visionary individual within our team in Dublin. You shall ensure the safeguarding of client instruments and funds for the Irish regulated entities.

You will be accountable to senior management in respect of oversight of the effectiveness of the Firm's compliance with our requirements.
You shall report to the Head of GTO for BofAMLSE DAC with a functional reporting line to the Global Client Money and Custody Assets Operations Oversight Executive.

You will take care of the management and oversight of client assets for the Irish regulated entities including the below.

What will your main responsibilities involve?

  • Establishing appropriate client assets governance structure including governance meetings, training, guidelines and incident issue and reporting
  • Build and maintain all Funds Facilities Agreements and Financial Instruments Facilities Agreements in accordance with the Client Asset Regulation (CAR)
  • Providing approval, in writing, of the reviews of the arrangements for the holding of client financial instruments and client funds as required by the CAR
  • Ensuring that the Client Asset Management Plan (CAMP) is produced, maintained, reviewed and updated as appropriate
  • Ensuring any potential or actual breaches of the CAR are identified and appropriately investigated with root cause analysis settled and then called out appropriately
  • Leading any internal and external audits and regulator visits and reporting on the results of those audits to the relevant internal forums, including to the governing body of the Firm. For the annual external audit ensuring the assurance report is submitted to the CBI through the Online Reporting System no later than 4 months after the period end
  • Ensuring that the relevant persons performing reconciliations and the daily calculations required by the CAR are adequately trained and have sufficient skill and expertise to perform those functions
  • Undertaking an assessment of risks to client assets arising from the Firm's business model

What skills and qualifications will you ideally possess?

  • Experience of dealing in a complex regulatory environment including interaction with regulators both verbally and in written form
  • Sound communication skills both written and verbal
  • Ability to work in a global environment, effectively influence across the organisation and ensure appropriate accountability
  • Solid organisational skills and experience of leading governance for a process or legal entity
  • Comfortable to challenge and to examine the detail of processes and functions

  • Deep understanding of the key principles of client asset segregation in any jurisdiction would be beneficial but not essential;
  • Knowledge of the main products that result in the entities holding client funds and client financial instruments (i.e. futures and options, prime brokerage and derivatives products)

About Bank of America Merrill Lynch

Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.
The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.


If you're interested in this opportunity please send your details to us by applying online.
Good conduct and sound judgment is crucial to our long term success. It's important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mindset are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.