Group Manager, Trustee & Depositary(
Job Number : 2107662)
The Bank of New York Mellon Luxembourg provides depositary services for collective investment schemes, mainly Luxembourg registered funds.
The Bank fulfils an oversight role for its client funds under the Luxembourg regulatory framework. This oversight involves the safe-keeping of the assets as well as supervision duties as defined by the UCITS and AIFMD regulations.
The Depositary Bank Senior Manager will lead a team in charge of the day-to-day supervision activities associated to the Depositary function.
The responsibilities also include on-boarding of new mandates and facing clients. The position will report to the local senior manager representative acting as head of Luxembourg Depositary Bank services.
Main tasks will be as follows :
Overall management of the Client Services team
Leading, motivating, and developing the managers and team members. Define and deliver a long term HR strategy including hiring, retention and development.
Ensure the team adheres to formally documented procedures and controls designed to ensure the activity is performed according to regulatory requirements and group policies.
Manage and maintain strong relationships with both internal and external key stakeholders such as clients, regulators, external and internal auditors, Risk, Compliance, Business Change group, and report regularly and escalate as required.
Manage change within the Depositary operating model and support strategic initiatives with other EMEA locations.
Attend clients and internal meetings (including Fund’s Board of Directors meetings) as required on behalf of the Depositary.
Plan, manage and implement Depositary oversight procedures for new business or products. Support the sales process (RFP, presentations ) with new prospects and the on-boarding of new mandates.
Provide support to the overall financial management of the department (headcount forecast, budget, billing review, etc.)
At least 10 to 15 years in the financial services industry with significant experience in the investment fund business and exposure to depositary bank activities
Excellent knowledge of the fund regulation and industry standards regarding fund governance and ownership of roles (who-does-what) and conflict of interests.
Strong Knowledge in Real Estate and Private Equity.
Proficient on custody, fund accounting & transfer agency operations, and on the accounting principles applicable to the fund business.
Relevant experience managing teams and interacting with executive management (both internal and clients). Proven experience implementing a performance-based culture.
Strong analytical and organization skills. Able to develop a top-down vision of the strategic priorities and objectives and manage to deliver tangible solutions.
Solution driven. Ability to set priorities, solve problems and escalate issues. Identify and manage risk associated to the Depositary business.
Relationship builder. Ability to build excellent long term relationships with key stakeholders, identifying dependencies to manage and value-added in these relationships.
Excellent communication and presentation skills and ability to convey and articulate complex topics in simple terms to different audiences.
Perfect command of English. German or French would be considered as an advantage but are not essential,