Luxembourg Compliance Officer - Fixed Term Contract
Wells Fargo
Luxembourg City
il y a 13j

About Us :

Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services.

Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Center (DIFC), Hong Kong, London, Seoul.

Main function of the job :

Wells Fargo Asset Management Luxembourg S.A. (WFAML) was established November 2014 and is governed by chapter 15 of the law of 17 December 2010 on undertakings for collective investment.

WFAML currently serves as Management Company for a family of UCITS. WFAML’s capabilities will be extended to serve as AIFM to several alternative fund structures in 2016.

WFAML also serves as global distributor for our non-U.S. distribution activities.

WFAML is a subsidiary of Wells Fargo Funds Management based in the U.S., which is a line of business within Wells Fargo Asset Management (WFAM).

WFAM currently manages $19 billion in separate accounts and $7 billion in pooled funds for clients located outside the U.

S. Our funds are registered in 20 countries. Further expansion of our asset management capabilities outside the U.S. is a critical growth initiative for WFAM.

Note : In addition to these functions employees are required to carry out such other duties as may reasonably be required)

Responsibilities :

  • Develop programs and monitor results to ensure the continued legal and regulatory compliance of WFAML. Oversee WFAML’s delegation framework.
  • Assess the adequacy and effectiveness of WFAML’s measures, policies, and procedures put in place to prevent compliance failures.

    Consult frequently with Conducting Persons on regulatory compliance-related matters :

  • Identify and analyse the potential risk areas including legal or regulatory obligations
  • Propose, implement, and monitor legal and regulatory risk-mitigating measures
  • Evaluate risks linked to the implementation of new systems, products, or re-organization of legal entities and processes.
  • Advise on potential legal entity structures to optimally support product development plans.
  • Ensure the legal and regulatory compliance of the funds setup, identify potential risk areas, and monitor compliance.
  • Analyse and implement new circulars, laws, regulations, and group compliance policies.
  • In partnership with the risk management team, monitor the control framework.
  • Serve as central point of contact for the CSSF and other U.S. or European authorities.
  • Fully cooperate with and respond to inquiries from internal and external auditors.
  • Develop WFAML’s delegate oversight program and implement periodic due diligence reviews.
  • Create and deliver regulatory compliance reports to WFAML’s management committee and board.
  • Implement and maintain and an Anti-Money Laundering / Counter Terrorist Financing program consistent with relevant regulations.
  • Oversee the review and approval of distribution agreements and due diligence questionnaires.
  • Foster an environment of continuous improvement and build effective networks to ensure the application of best practices.
  • Retain locally stored compliance records and related documentation
  • Market Skills and Certifications

    Skills / Experience Required :

  • Graduate university degree in law or business.
  • Extensive continuing professional training.
  • Substantial compliance and legal experience within the Luxembourg fund industry.
  • Expert understanding of Luxembourg and EU asset management rules, UCITS, and AIFMD regulations.
  • Extensive knowledge of AML / CTF regulations.
  • Knowledge of global distributor regulatory requirements.
  • 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 written and verbal communication and documentation skills.
  • Fluent in English and French.
  • Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-

    driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions.

    There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

    EMEA

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