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Job Description
The Business Compliance Manager role is initiated since first line compliance assurance is the basis of our service offering. The role is to assure continuous focus on both delivery and quality of first line compliance, for and within each of the operational teams.
The Business Compliance Manager is responsible to securing proper fulfilment of Wwft and WTT compliance in the allocated teams (during the full life cycle of the Object Company), and promoting the quality, consistency and uniformity of methods and definitions applied in the registration of all related actions and documents (data quality) in the relevant tools (such as RA-CAM, SERR and ANTrance).
Tasks
The Business Compliance Manager:
- Assures the quality of the regulatory and procedural client due diligence during and outside the (periodic) compliance review, and the onboarding and offboarding processes (in line with the WWFT and WTT). Educates and advises the members of the teams to increase consistency and quality throughout the teams.
- Assures substantiation and documentation of all relevant parts of the structures and the UBOs of the relevant parts of the structures (and the clients). Verifies Risk Analysis and Client Acceptance Memoranda (RA-CAM), group integrity risk profiles (SERR), transaction profiles, sources of funds, sources of wealth and total net worth of UBOs. Explains the purpose of each layer of the structures and the flows of funds (charts). Drafts sanction, PEP and bad press memos if required (based on daily screening results). Implements mitigating measures and enhanced due diligence measures whenever required.
- Supports Client Service Managers with completing the Client Memoranda and Client Acceptance tabs, ensuring that all assessments and conclusions are properly documented. Provides input, reviews and approves the RA-CAMs and assures that the Client Memoranda are snapshotted afterwards, before the compliance review due dates or before OCA.
- Monitors OCA trigger events and follow-up as requested by OCA. Assures follow-up on assessments done by Compliance and in connection with the Management Attention lists.
- Performs overall client file reviews for the allocated teams.
- Escalates non-conformities and behavioural issues to the line manager.
- Maintains close contact with the second line Risk & Compliance department (assessing the quality of compliance and keeping track of open items). Ensures proper follow-up of their advises and/or action points, specific SERR improvements and GRRC (Group Reputational Risk Committee) requirements, within the allocated teams.
Qualifications
Key competencies for the role
- Action oriented
- Communicates effectively
- Being resilient
- Interpersonal savvy
- Plans and aligns
- Organizational savvy
Key behaviours we expect to see
In addition to demonstrating our Group Values (Authentic, Bold, and Collaborative), the Business Compliance Manager will be expected to demonstrate the following:
- Having a hands-on, can-do mentality, integrity, transparency, and a risk management mindset.
- Being structured, well organized, proactive in approaching Client Service Managers and clients, and energetic, determined, resilient, and persistent.
- Planning the first line compliance follow-up tasks needed and assuring execution.
- Being the advocate for first line compliance and our procedures within the team.
- Sharing compliance news, tips, frequently made mistakes and best practices with the team.
- Supporting the guidance of the operational team members in the Netherlands and GCD (Global Client Delivery) in staying first line compliance adopters.
Required Experience
- Excellent organisational, prioritisation and interpersonal skills. Plans and aligns.
- Problem solver. Strong communicator and influencer.
- At least 3 years’ experience working in a similar compliance related role in the financial services industry.
- Preferably knowledge of or experience working in the (global) investor services industry.
- Knowledge of the WWFT and the WTT.
- Master’s degree (preferably Dutch law).
- Fluent in the English language, a good understanding of Dutch is preferred.
Additional information
Sustainability is integral to our strategy and operations. Our sustainability depends on us building and maintaining long-term relationships with all our stakeholders – including our employees, clients, and local communities – while also reducing our impact on our natural environment.
There is always more we can, and should do, to improve – whether in relation to our people, our clients, our planet, or our governance. Our ongoing success as a business depends on our sustainability and agility in a changing and challenging global landscape. We’re committed to fostering an inclusive, equitable and diverse culture for our people, led by our Diversity, Equity, and Inclusion steering committee.
Our learning and development programmes and systems (including PowerU and MyCampus) enable us to invest in growing our employees’ careers, while our hybrid working approach supports our employees in achieving balance and flexibility while remaining connected to their colleagues. We want to empower our 5,800+ employees - from 94 nationalities, across 25 countries - to each achieve their potential. Through IQ-EQ Launchpad we support women managers launching their first fund, in an environment where only 15% of all private equity and venture capital firms are gender balanced.
We’re committed to growing relationships with our clients and supporting them in achieving their objectives. We understand that our clients’ sustainability and success lead to our sustainability and success. We’re emotionally invested in our clients right from the beginning.
Company description
We’re a leading Investor Services group offering end-to-end services in administration, accounting, reporting, regulatory and compliance needs of the investment sector worldwide. We employ a global workforce of 5,800+ people across 25 jurisdictions and have assets under administration (AUA) exceeding US$750 billion. We work with 13 of the world’s top-15 private equity firms.
Our services are underpinned by a Group-wide commitment to ESG and best-in-class technology including a global data platform and innovative proprietary tools supported by in-house experts.
Above all, what makes us different is our people. Operating as trusted partners to our clients, we deliver intelligent solutions through a combination of technical expertise and strong relationships based on deep client understanding.
We’re driven by our Group purpose, to power people and possibilities.
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