PFS AML Compliance Officer
at US Bank National Association
Luxembourg, Canton Luxembourg, Luxembourg -
Start Date | Expiry Date | Salary | Posted On | Experience | Skills | Telecommute | Sponsor Visa |
---|---|---|---|---|---|---|---|
Immediate | 21 Jan, 2025 | Not Specified | 22 Oct, 2024 | N/A | Luxembourg,Reporting,Fund Administration,Cams,Usa Patriot Act,Business Acumen,Communication Skills,Fund Accounting | No | No |
Required Visa Status:
Citizen | GC |
US Citizen | Student Visa |
H1B | CPT |
OPT | H4 Spouse of H1B |
GC Green Card |
Employment Type:
Full Time | Part Time |
Permanent | Independent - 1099 |
Contract – W2 | C2H Independent |
C2H W2 | Contract – Corp 2 Corp |
Contract to Hire – Corp 2 Corp |
Description:
At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive. Try new things, learn new skills and discover what you excel at—all from Day One.
As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other.
JOB DESCRIPTION
Title: PFS AML Compliance Officer
Business: U.S. Bank Global Fund Services Luxembourg
Reports to: Primary reporting line to the Senior AML Manager – WCIB within the Group EFCC team. An indirect reporting line to the Senior Compliance Manager – Wealth within the Corporate Compliance team on Compliance related matters will apply.
Location: Luxembourg
POSITION: RC (MLRO & COMPLIANCE MANAGER) U.S. BANK GLOBAL FUND SERVICES
U.S. Bank Global Fund Services Luxembourg is seeking an experienced candidate to join our team. This candidate must have strong knowledge of the AML, Sanctions and Compliance framework around Fund Administration Services in Luxembourg, Europe and non-European jurisdictions.
The MLRO/Compliance Manager will act as the first point of contact for all AML/Compliance related matters within EFCC /GCC with oversight of the Fund Services business line in Luxembourg. The role will also include ensuring continued compliance with local jurisdictional requirements and to support the Local and wider Bank’s Board Members and Senior Management in discharging their legal /regulatory obligations.
The position will interact directly second line EFCC/GCC Europe centralised teams with local and Risk and Financial Crime CRO departments. The MLRO/ Compliance Manager is expected to be a sparring partner for 1st line business lines, risk partners and other key functions within Luxembourg and across the Enterprise.
In addition, the candidate must have the ability to work well with internal and external auditors and regulatory examiners by providing full cooperation and timely delivery of requested documentation and information.
Due to the responsibilities associated with the role, adjustments to titles and internal reporting lines, in accordance with regulatory requirements may be deemed appropriate.
Please note: This job description should not be taken as a definitive or exhaustive list of job responsibilities or accountabilities. The GFS Luxembourg MLRO/Compliance manager’s role is expected to evolve and adapt to changing business strategies and regulatory requirements and therefore the accountabilities and responsibilities of the role are subject to change.
BASIC QUALIFICATIONS:
- Bachelor’s degree, LCOI, CAMS or other professional certification(s) in Financial Crime Compliance and Fund Services space will be favourably considered;
- 5-10 years of experience in a relevant Financial Crime Compliance Risk management environment preferably in the Investment Services Funds Industry.
PREFERRED SKILLS/EXPERIENCE
- Expert knowledge of Luxembourg and EU AML regulations, FFIEC Examination Manual, USA PATRIOT Act, FinCEN guidance, FATF and other industry guidance and best practices;
- Minimum 5 years of experience with specific emphasis on work experience with a Fund Services Provider (a Fund or Fund Manager) in a Financial Crime Compliance Function;
- Understanding of Fund Services products i.e. Fund administration, Transfer Agent, Fund accounting and reporting, Fund custody and how they may be exploited for criminal purposes, including but not limited to money laundering, sanctions evasion and terrorist financing activities;
- Strong oral and written communication skills with the aptitude to establish credibility and collaborative partnerships with senior business leaders and global partners;
- Proven experience of interaction with the Board, Local Committees, Regulators and Auditors;
- Must possess business acumen and credibility to help business line(s) proactively identify and address changing workforce needs;
- Hold self and others accountable to consistently achieve meaningful results;
- Ability to operate in a matrix organisation, build relationships across business lines, and other functions.
Responsibilities:
- Build out a strong EFCC/Compliance oversight with SME of Luxembourg Regulatory Requirements and Industry Practices within the Investment Services Business;
- Enhance the AML program in the various jurisdictions including but not exclusively AML/Economic Sanctions Risk Assessments and Local Country Requirements in accordance with guidelines or manuals issued by the Bank setting out the governance within those programs;
- Overseeing that the implementation of the AML Program is consistent with regulatory expectations and industry practice for the Global Fund Services business line;
- Oversee contact with regulatory bodies in co-operation with the U.S. Bank Regulatory Services team and the European EFCC/Compliance teams;
- Act as the point of escalation for Global Fund Services Luxembourg ;
- Facilitate, participate and consult in the execution of the Second and Third Line of Defence testing, Risk Assessment & Policy Implementation program and the business change program;
- Promote the Financial Crime & Compliance culture across GFS Luxembourg and the bank through active engagement with management, peers, direct reports, stakeholders, and other employees;
- Provide clear guidance and credible challenge to senior business leaders in their implementation of AML, Sanctions & Compliance controls;
- Represent Global Fund Services Luxembourg with other internal stakeholders promoting best practice and consistency across Luxembourg and the Enterprise including the Third Party AML service offering.
REQUIREMENT SUMMARY
Min:N/AMax:5.0 year(s)
Banking/Mortgage
Banking / Insurance
Mortgage Services
Graduate
Financial crime compliance and fund services space will be favourably considered
Proficient
1
Luxembourg, Luxembourg