CASS Hiring in Scotland

Given the recent change in CASS regulations, the success of platform businesses and the evolving distribution landscape, the past 12 months have been a great time to be a CASS professional. Salaries have been on the rise, the variety of roles on offer has increased and there as been no shortage of project based work in this space or employers to choose from.  The Risk & Compliance team here at Meraki Talent have been helping clients across Platforms, Banks, Fund Managers, Life Companies and Wealth Management firms identify and secure the correct talent and resource to meet these needs.

 In Q1 and Q2 of 2018 came a number of deadlines for various regulatory and reporting changes like MiFID II, GDPR, PSD2 and IFRS 9. With this we experienced demand increase for contractors at the beginning of the year, driven by the need to comply to these deadlines. As a result, this activity has been quickly followed by growth in permanent hiring to enhance business as usual capabilities.

With CASS continuing to be a key focus for clients as all firms seek to improve their processes to comply with enhanced regulations, businesses across Scotland are actively recruiting within the the space. The associated contractor market for short term projects is also active, to cover CASS framework overhauls and implementation of new control tools coming into the market.

What skill sets will be in demand?



The FCA has published its extension to all FCA authorised firms of the rules on the senior managers and certification regime (SM&CR). We expect the trend of smaller firms looking for experienced CASS professionals to take up CF10 or CF10a roles to increase.


CASS Audit 

There is definitely insufficient exposure here. With the FRC’s assurance standardstaking effect in January 2016, it’s likely that the FCA will have a lower tolerance on poor audit results moving forward, leading to an increase of firms hiring skilled auditors to ensure they comply with the FRC’s assurance standards.


CASS / TPA Oversight

With a continuing trend of investment firms using third party administrators (TPAs) to carry out back office functions, many firms are struggling to get the balance between making the best use of the TPA agreement whilst maintaining appropriate CASS oversight. We have seen growth in CASS / TA / TPA oversight teams as investment firms enhance their oversight programmes.These are fairly unique roles, offering CASS specialists the opportunity to work in more of a supplier management / assurance / relationship management capacity.


CASS Assurance

This is often the first route into a CASS function and these teams are usually made up from internal candidates from broader operations teams. The content of these teams can vary from quality assurance to issue management and audit liaison. Although this is still a great way to secure a role within CASS, there is still a strong need across the market for candidates with the relevant knowledge of the Client Asset Sourcebook coupled with experience of quality assurance, process mapping and controls testing.


Are you looking to enhance your firm’s CASS compliance/ audit capabilities or simply interested in hearing more about the current market? Get in touch with Chris Wilson at Meraki Talent on 0141 648 9413 or to discuss securing CASS knowledge for your business in Scotland.