Market Job Description
Main function of the job :
The role reports to and support the Luxembourg Country Compliance Officer who is responsible for the provision of Compliance services in support of all WFAML activities.
The Luxembourg Country Compliance Officer reports to the EMEA Head of Asset Management Compliance, based in London, who is responsible for all aspects of compliance within EMEA located Wells Fargo Asset Management entities.
The EMEA WFAM Compliance function encompasses all business activity of Wells Fargo Asset Management entities in EMEA, including the portfolio management activities of Wells Fargo Asset Management (International), LLC and ECM Asset Management Ltd.
in their capacity as multi-asset and fixed income portfolio managers, and the distribution activities if WFSIL and fund management activities of WFAML.
Note : In addition to these functions employees are required to carry out such other duties as may reasonably be required)
Identify the existing rules and the upcoming regulations in Luxembourg which may impact the WFAM(L) business;
Keep updated on directives, laws, regulations and circulars governing the conduct of business activities of the management company and investment funds;
Fight against anti-money laundering and the financing of terrorism, as well as the rules of conduct of the financial sector and investor protection rules
Develop programs and monitor results to ensure the continued legal and regulatory compliance of WFAML;
Provide advice on regulatory and legal matters on any compliance issues that may arise, conduct compliance monitoring and reporting in line with Group Compliance standards;
Verify that the organizational duties relating to Compliance are complied with including outsourced and / or delegated regulated activities;
Oversee WFAML’s delegation framework;
Collaborate with the Oversight teams to provide oversight of third parties;
Draft and implement Compliance related policies / procedures;
Assess the adequacy and effectiveness of WFAML’s measures, policies, and procedures put in place to prevent compliance failures;
Maintain / up-date compliance monitoring plan of WFAML as appropriate and carry out the related regular compliance checks and controls;
Give advice and support to staff on compliance related matters;
Evaluate risks linked to the implementation of new systems, products, or re-organization of legal entities and processes;
Ensure the legal and regulatory compliance of the funds setup, identify potential risk areas, and monitor compliance;
Perform client due diligence reviews;
Conduct ongoing monitoring of clients and relevant counterparties of WFAML;
Fully cooperate with and respond to inquiries from internal and external auditors;
Develop a robust Compliance culture;
Oversee the review and approval of distribution activities, arrangements, agreements and due diligence questionnaires;
Liaise with the Wells Fargo EMEA Distribution team;
Retain locally stored compliance records and related documentation;
Participate in specific working groups or projects implementing new regulation and liaise with internal stakeholders and external advisors as appropriate;
Prepare Senior Management and Board Reporting;
Liaising with Wells Fargo EMEA Compliance and WFAM Compliance in UK and USA;
Support the Luxembourg Country Compliance Officer and EMEA Head of Asset Management Compliance in any other matters required to meet Compliance and organizational objectives and priorities.
Market Skills and Certifications
Graduate degree in law or business;
Prior experience of working in Luxembourg, ideally as a Compliance Officer in an international financial institution and a good knowledge of the fund business;
Sound knowledge of the Luxemburg legal and regulatory environment of investment funds;
Sound knowledge of AML / CFT regulations;
Knowledge of global distributor regulatory requirements;
Strong analytical and problem solving skills and the ability to work in a pro-active, independent and structured manner;
Ability to independently evaluate issues and make sound business decisions with minimal oversight;
Effective communicator with ability to explain compliance issues clearly and succinctly to others;
Strong interpersonal and team skills and ability to build solid working relationships with internal and external stakeholders;
Manages time effectively to consistently deliver against targets;
Ability to work independently, manage multiple projects and competing priorities;
Excellent analytical skills and ability to formulate commercially sound recommendations often under conditions of uncertainty;
Strong PC skills - including Microsoft Excel, Access, Word, PowerPoint and other reporting tools but also able to understand use of technology for improving the regulatory control environment.
Strong written and verbal communication and documentation skills;
Fluent in English
We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law.
We comply with all applicable laws in every jurisdiction in which we operate.