Role: Oversight Officer
Salary: Competitive and candidate dependent
Reporting To: Head of Oversight Officer
One of the oldest Swiss private banks has developed some unique investment strategies and products which are designed for both institutional clients and third-party distributors. And currently is operating in Europe, North America, Asia and the Middle East. In order to strengthen their Oversight Team in Luxembourg (team in charge of the monitoring and oversight of delegated activities) and they are looking for an: Oversight Officer
- Control and contribute to strengthening and developing new processes on oversight of delegated activities, including Portfolio Management and Distributors, in line with the CSSF Circular 18/698.
- Ensure due diligence questionnaires are complete and accurate as per standards, including relevant AML documentation according to the defined risk profile.
- Conduct initial due diligence and on-going monitoring on Delegates, including to on site visits.
- Liaise with Delegates and internal stakeholders to follow-up on status and performance of delegated activities and perform ongoing monitoring on the delegated functions.
- Draft concise and high-quality due diligence memo summarising the related findings on the Management Company Delegates (e.g. Portfolio Managers and Distributors, Central Administration and Transfer Agents, Investment Advisors and other service providers).
- Manage compliance and AML risk assessments, primarily, in accordance with Luxembourg requirements, including the CSSF Circular 18/698 and AML regulations.
- Ensure Delegates' AML/KYC files are up to date and all the information and documents are recorded in the database.
- Assist, establish and maintain processes, procedures and work flows.
- Ensure timely follow-up of all counterpart's due diligence processes.
- Ensure collaboration with 2nd line of defence functions (Compliance and Risk Management) in particular in terms of risk-based approach.
- Ensure all controls are adhered to and exceptions are escalated in a timely manner.
- Contribute to Management and Board Reporting.
- Coordinate the cross-value chain for all client-related aspects, including distribution, cross-border evaluation and transfer agency.
- Ensure intermediary and client documentation is always up to date and taking the necessary action to refresh it.
- Proactively coordinate the on-boarding process for new business relationships and review existing intermediaries and clients.
- Review and analyse the Key Performance Indicators & Key Risk Indicators of the Funds (exceptions reports).
- Promote the highest ethical standards required of staff and to ensure staff meet the requirements of the Compliance Manual and the relevant regulatory rules in Luxembourg. The successful candidate will be reporting to the Conducting Officers in charge of delegation and Compliance.
- University degree in Finance, or training/experience deemed equivalent.
- Minimum of five years experience in client/intermediary on-boarding with sound knowledge of oversight of delegates/KYC rules.
- Comprehensive experience in fund investment and distribution activities for UCITS or AIFs.
- Meticulous in your approach to work and highly organised.
- Ability to work both on your own and with different kinds of stakeholder.
- Dynamic and able to show initiative in solving problems.
- Strong understanding of the relevant rules and regulations for compliance theme areas, including Marketing, AML/KYC laws, MiFID, FATCA/CRS and Luxembourg's regulations and CSSF Circulars related to Compliance.
- Fluent, both written and orally, in English. French would be an asset.
- Proficient with MS Office.
- Strong communication, negotiation and analytical skills are necessary to collaborate with our partners.
- Ability to systematically assess & challenge existing processes.
- Working in close cooperation with local and cross-border colleagues in a project-oriented environment.
- Partner throughout the organisation i.e. sales, operations, legal, compliance and internal audit.