Reports to Director
We are looking to recruit an experienced New Business Onboarding Manager to join our Depositary team in our Luxembourg Office.
This is an excellent opportunity for a driven and motivated professional to develop their career within our organization by leading the onboarding of new depositary clients, including the assessment of the appropriate oversight model in line with our internal governance and risk management assessment taking into consideration the scale and complexity of each individual mandate.
Key responsibilities :
Act as key intermediary between the depositary team which will service the client, the client and the central administrator.
Ensure the timely completion of the depositary onboarding checklist, develop this as appropriate in co-ordination with the broader depositary team.
Co-ordinate with the due diligence team to ensure the timely completion of any relevant due diligence which may be required, prior to finalising the engagement terms (e.g. AIFM);
Assess the scale and complexity of the mandate, and propose the appropriate operating model for depositary oversight based on the outcome of this assessment;
Preparation of the new business take-on forms, and attend the new business committee meetings, as and when required.
Update and agree the client specific depositary operating memorandum with the client, based on the information received during the onboarding process, ensure it accurately reflects the client static data and intended strategy, including the potential need for custody accounts, where necessary;
Liaise with the depositary team to ensure they are prepared to take on the mandate, and all timelines are clearly communicated;
Liaise with the client, their legal advisors and our legal team with a view to agreeing the terms of the depositary engagement letter;
Escalate, on a timely basis, any matters arising out of the engagement letter discussions requirement senior leadership approval and sign off such as any deviations from our standard terms;
Attend, and organise where appropriate, the client onboarding calls to ensure depositary is represented and up to date on the overall fund set up;
Ensure the client is set up on all internal systems and ready for the designated depositary to take on the oversight duties, including access to bank accounts and dedicated depositary SharePoint site;
Support the Client Relationship Manager in building an effective and efficient oversight control program, in line with internal governance;
Keep up to date key internal control and templates including the new business oversight dashboard, and any template used for the preparation and completion of the onboarding process;
Participate, as required, in specific projects in case of regulatory developments to update as needed related controls and processes in the oversight framework;
Develop expertise in the area of risk management, internal governance, central administration depositary and Management Companies / AIFM topics considering industry best market practice and regulatory continuous developments.
Ensure any potential depositary risks identified during the onboarding process are addressed and remediated, with regular follow-ups and maintaining a clear audit trail of follow-ups and escalation, as necessary
Work closely and co-ordinate with the relevant client Depositary manager to ensure an efficient and effective process is implemented.
Ensuring enhanced depositary oversight controls required to mitigate any perceived weaknesses in the fund governance / control objectives, which may be identified via the due diligence process at the onboarding phase are included.
Ensure timely completion of the onboarding checklist and appropriate escalation of potential issues.
Skills, knowledge, expertise :
Suitable qualification in Finance or Business Administration;
Minimum 5-6 years' oversight / control experience with a Depositary or an audit firm, with specific depositary experience.
An overall knowledge of the Luxembourg Fund and Depositary / AIFM key regulatory environment requirements;
Strong analytical, organisational and project management skills;
Autonomous and dedicated, you have a high sense of responsibility and great interpersonal skills;
Willing to learn you are able to gain a global and transversal vision of the role and the impact on the company's activities;
Fluent written professional English is essential, additional languages such as German and / or French would be advantageous
We will provide the training, both in house for relevant technical knowledge and also professional qualifications to enhance your professional development.
You will need to be quick to learn new systems and be great with people, as close working relationships between our colleagues and clients is at the heart of what we do.