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AML Manager, Transfer Agency

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Accounting Portfolio / Fund
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71805 Requisition #
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Manager – AML (Anti-Money Laundering)
Transfer Agency – Luxembourg 


Founded in Chicago in 1889, Northern Trust is one of the world’s leading financial institutions. We specialise in providing asset servicing solutions and asset management to both institutional and personal clients. The delivery of products and services to this client base is supported through a network of offices around the globe.


Luxembourg Office
Our recent acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland and the decision to base our European Bank in Luxembourg demonstrates our commitment to the region. It has positioned Northern Trust in Luxembourg as a top 10 asset servicing provider. There has never been a more exciting time to join our growing team.


Role
The TA AML Manager performs all duties inherent in a managerial role, including providing leadership and guidance to the Transfer Agency AML team to deliver and/or effectively support anti-money laundering services in alignment with the departments’ processes and procedures, as well as the company’s compliance, risk and audit programs.  The role is based in Luxembourg.


There is a requirement to hold, build and maintain strong relationships with the Transfer Agency Registration Team who are partnered with the AML Team to deliver a strong record keeping service to Northern Trusts Client base.


Principal Responsibilities

• Plan, direct, maintain and keep the risk-based AML/Compliance programs up to date within Transfer Agency, in line with Northern Trusts Transfer Agency and Group policies
• Ensure compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) laws as they apply in associated jurisdictions
• Maintain an up to date knowledge of Regulation impacting the industry and use this knowledge to identify opportunities to propose changes to internal processes where relevant
• Develop, implement and enforce policies, procedures, and programs to minimize potential money laundering risk.
• Responsible for ensuring the AML team meet anti-money laundering requirements for assigned functions
• Provide clear and common direction to drive for results in meeting anti-money laundering compliance priorities
• Build necessary relationships with other department management, as well as external contacts to meet AML Compliance goals
• Address the most complex problems and critical issues escalated from within the team, as well as other internal and/or related external parties
• In relation to the Bangalore Transfer Agency function provide the following:


1. Control, oversight, support and technical assistance to the AML functions
2. Review and test deliverables


• Responsible for the development, implementation, approval, and enforcement of policy, procedures and programs designed to mitigate AML risk within Transfer Agency
• Evaluate internal controls and anti-money laundering compliance through transaction analyses, program reviews and training sessions
• Assist team on various AML take on projects, reviewing holder documents, identifying deficiencies, contacting investors and system update
• Ensure that clients and/or associated internal queries are responded in a timely, accurate and professional manner in accordance with departmental procedures and clients SLA
• Ensure that Transfer Agency AML Team meets the required audit, risk and compliance standards as determined, in accordance with changes in regulation, legislation
• Opportunity to design, build and implement processes to increase business effectiveness and efficiency are key composites for this role


Accountabilities

• Employees are required to comply with the regulatory regime in which Northern Trust operates as appropriate to the above role
• Employees are expected to exercise due care and diligence, and ensure that the responsibilities of the role are organised and controlled within the ambit of regulation, compliance and risk management
• Employees are required to observe proper standards of market, business and personal conduct, demonstrating integrity in the execution of duties
• Ability to build relationships with key Internal Stakeholders such as Relationship Managers, Compliance, senior  management as well as external stakeholders including clients and shareholders, advisors, auditors, MLRO & compliance

Qualifications

• The ideal candidate will have experience within the financial services industry, within a Compliance / Anti Money Laundering environment at a similar level of responsibility (essential)
• Proven track record working in a Transfer Agency Line of Business system, understanding of processing and related concepts, as well as Workflow processing system and concepts
• Relevant AML/KYC experience and knowledge across a variety of entity types, e.g. any Financial Institutions, Quoted and Private Companies, Partnerships, Trusts
• Computer literate : knowledge of MS Software Packages. Knowledge of Multifonds is a plus
• Intimate/ In depth knowledge of Anti-Money Laundering Legislations, Anti-Fraud Procedures and other relevant regulations
• Operational experience gained in a TPA, TA or Fund Management operation
• Effective risk management
• A strong / high level of the below:


1. Quality delivery and Client Focus
2. Accuracy and attention to detail
3. Planning / Organisational skills
4. Work under pressure and unsupervised
5. Interpersonal / Team player
6. Self-motivated / Own initiative
7. Ability to stay focussed / tenacious
8. Effective communication skills, both verbal and written
9. Solution oriented and pragmatic

 

About Northern Trust

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.


We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.


As of March 31,2019, Northern Trust Corporation had:

$10.9 trillion in assets under custody/administration
$8.2 trillion in assets under custody
$1.2 trillion in assets under management
$122 billion in banking assets

 

As Northern Trust is a financial organisation; all new employees will be required to undergo a criminal record check.


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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
  • APAC EEO Statement
    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement