AIS Investor AML Services, Compliance, AVP
The role holder will have a lead role in the management of the Investor Services Investor Anti-Money Laundering operation in Ireland. They will be a strong contributor to the strategy of the department for our Global client base ensuring the overall goals of the AML department are met. They will provide oversight and support as Client manager for multiple local client relationships both new and existing with a focus on regulatory and risk control and change management. They will provide technical and operational leadership to the department ensuring case managers working on the underlying AML process follow policies and procedures, are organised, efficient and provide best in class service to our clients. Summary of Key Functions:
- Client Servicing - Board Reports/Client visits and presentations
- Oversight of new/ongoing Investor populations to ensure all reviews are completed in a timely fashion by case managers assigned
- Routine Client reporting - AML Logs, Board Reporting of unauthorized/aged tracking of investors
- Client queries and escalations - Point of contact for location clients
- Board Call attendance/support for appointed clients
- BAU High Risk Reach outs/PEP reach outs/Sensitive investor reach outs
- Global AML project management
- Assurance letter and board letter requests
- Client Off-boarding - Collation/QA of all files to be moved offsite/to new administrator
- Due Diligence Questionnaires and Due Diligence Calls
- Periodic Review Tracking and assignment
- Final review and QA of appointed clients/Group priority final review Investor files
- MLRO Servicing - Reporting/Meetings/DDQs/Sampling/Board Reporting and attendance
- Fund level CDD Process - Ownership documentation sourcing, Periodic review document sourcing - Additional to Investor AML Policy standard
Context of the role (in relation to the overall business, division or team) Operating Environment
- Management and development of strong client relationships, strongly representing the Investor Services AML group and the Company to clients.
- Responsible for ensuring the day to day AML service delivery for clients is consistently met and exceeded. Liaise with the client on development initiatives or any AML related items.
- Handle or resolve complex operational and customers complaints that are referred by clients and case managers.
- Accountable for the controls within the teams - ensuring that there is a focus on the control environment within the team.
- Have strong understanding of relevant local legislation surrounding AML standards and also have knowledge of other global AML policies and procedures inclusive of Singapore, Cayman Islands, Ireland/UK, United States programs.
- Drive the development and implementation of appropriate procedures to meet internal controls, external compliance and regulatory requirements.
- Regular liaisons with the senior management team, providing departmental feedback on processes, client information, ensuring clear and transparent communication within the wider AML department.
- Attend relevant meetings within IFS.
- Contribute to operational, client, risk and AML audits and regulatory meetings as required.
- Be actively aware and partake in departmental projects to help drive the continuous improvements and efficiencies within the Investor Services AML department.
- Ensure regular meetings with case managers assigned to client cases, promote regular one to one meetings within the team and offer developmental opportunities for any direct reports or supporting case managers.
- Monitor overall timeliness of completion for the entire team with your direct reports.
- Responsible for ensuring team representation on group State Street programmes e.g. Global Inclusion etc.
- Full participation in the recruitment and selection of resources for the team, ensuring effective utilisation, whilst ensuring opportunities are identified in the team for flex arrangement if required.
Relationships - nature and type of interaction
- Investor AML services team, a contracted service inclusive of AML Identification and Verification of investors, Client reporting and escalation, Document review and retention, Sanctions screening
- Oversight of Investor AML Client base - Onboarding, Reporting, Escalation point, Oversight of AML process
- Change in regulatory environments - large impact within the department and division. Lead project groups to understand industry regulatory impact & develop solutions/new products for our clients.
- Ensure a greater awareness of the risk environment within the department.
- Full accountability for controls within their teams and work completed for their appointed clients.
- Open client communication with a focus on building client relationships for the AML Service.
Job Boundaries (information about freedoms and constraints of the job)
- Subordinates - Engage in one to one meetings with direct reports, coaching team members, point of escalation.
- Superiors - provide direct support for VPs; provide regular status updates to VP's.
- Peers - Join directors meeting, provide inputs and recommend solution to overall TA issues, lead global TA initiatives.
- External - Build client relationship ensuring client deliverables are met. Act as point of contact for escalated queries.
- Internal - build on internal relationship
- NAV & AML team - ensuring effective client service.
- Strong relationship with Relationship Managers, need strong communication on a weekly, monthly basis, need to be informed of changes, expectations.
- Ensure representation on group State Street programmes e.g. Global Inclusion.
Knowledge and Experience
- Full autonomy for the operational effectiveness of the clients they manage. AVP's retains responsibility for ensuring that key controls and Policies and Procedures are adhered to.
- Sign off on errors at VP level.
- No responsibility for Service Creep, these should be escalated to senior level.
- Prioritising projects lies with Senior Management however AVPs actively participate in this process and support VP's.
- The role holder is not responsible for allocating department wide resources and has no budgetary control.
- Degree in Finance and/or Business Related area (minimum 2.2) or relevant working experience.
- ACAMS Certification a benefit, or relevant AML Qualification a plus.
- 6-8 years Fund Administration experience (preferable Hedge Transfer Agency) with at least 4 years people management experience.
- A strong understanding of relevant local legislation surrounding AML standards and also have knowledge of other global AML policies and procedures inclusive of Singapore (MAS), Cayman Islands (CIMA), Ireland/UK (EU/CBI), United States programs (US Patriot Act).
- Proficient in Microsoft Office applications in particular Excel.
- Experience in working to tight deadlines, with an ability to multi task and to work calmly under pressure.
- Experience in Client Relationship Management is essential for this role.
- Good working knowledge of AML and regulations impacting the industry.
Additiona l Information
- Ensuring the clients expectations are met and all deliverables are met accurately and in a timely manner.
- Understanding and dealing with the changing regulatory environment, challenging the compliance teams for the good of the AML team.
- Resources - ensuring that team deliverables are met in a constraint resource environment while focusing on business transformation goals.
- Motivating, developing and engaging staff. Manage staffing issues as they arise and co-ordinating issues raised with HR and Senior Management.
- Staying current on revised policies and procedures and continuing to learn the TA process for new service offerings and the use of ISS for these services.
- Support business growth through the on boarding of new clients.
- Support VP's to engage, develop and retain employees by creating an environment of continued learning and development.