Safeguarding Controls Analyst

Summary

Join Zepz Group, a leading global remittance company, as a Customer Funds Safeguarding Senior Analyst. This critical role involves establishing, implementing, and overseeing the company's framework for safeguarding customer funds, ensuring compliance with regulations and best practices. You will be responsible for developing and maintaining a comprehensive customer funds safeguarding strategy, creating and reviewing policies and procedures, and overseeing daily operations related to customer funds. You will also be responsible for reconciling internal records with third-party holding institutions, investigating discrepancies, and preparing reports for senior management. This role requires proven experience in customer funds safeguarding, client money management, or financial compliance within a regulated industry, along with a strong understanding of relevant regulations and accounting principles. You will also need excellent analytical and problem-solving skills, strong communication and interpersonal skills, and the ability to work independently and as part of a team.

Requirements

• 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

Responsibilities

• 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
• 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
• 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
• 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
• 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
• 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
• Support internal and external audits related to customer funds safeguarding, providing necessary documentation and explanations
• Implement recommendations arising from audit findings
• Promote a culture of awareness and responsibility regarding the protection of customer funds
• 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

Preferred Qualifications

• 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

Benefits

• Unlimited Annual Leave: Feel free to make the most of your time off and maintain a healthy work-life balance!
• Private Medical Cover: ​​You can opt-in to a Private Medical Insurance scheme. This provides you with access to thorough medical coverage, so you can feel confident in your health and well-being
• Retirement: We offer pension schemes to help you plan for and secure your future
• Life Assurance: Life assurance is available to give you peace of mind and protect your loved ones in case of the unexpected
• Parental Leave: We offer competitive parental leave schemes to ensure you are spending as much quality time with your new bundle of joy as possible
• We are also remote-first as an organisation, offering flexibility for you to work where you need to be most productive