Description
Due Diligence Analyst - with Transfer Agency/Investment Funds experience - Contract
The Alternative Investment Fund Manager EU Directive ("AIFMD") /EU dated 8 June 2011 and the associated Level 2 delegated regulations dated 19 Dec 2012 which came into force on 22 July 2013 and the UCITS V (Undertakings for the collective investment in transferable securities) regulations which came into effect as of 18 March 2016, introduce a number of requirements to increase investor protection.
A Depositary has a restitution obligation for the loss of financial assets held in custody. To avoid liability for loss due to external events, the depositary would need to prove that the loss was beyond its reasonable control and could not have been avoided despite all reasonable efforts.
As a result, for the Fund of Funds structure, appropriate risk framework around assets issued via Transfer Agents ("TA") was developed.
The ideal candidate should have experience in audit and risk assessment, and experience in critical review of ISAE3402 and other such documents describing the financial, regulatory and operational frameworks of financial institutions.
The role will:
- Act as a central point of contact to request and receive information, including but not limited to, ISAE3402, from Clients or by engaging with 3rd Party Transfer Agents as required, review responses and making a determination for TA risk categorisation, approval or rejection of TA.
- Record and maintain decisions on all new TA risk categorisations, approval or rejection
- Communicate with each interested internal business unit providing recommendation on TA risk categorisation, provide recommendation for approval or rejection for the approval of the depositary
- Ensure any anomalies or policy exceptions are escalated to manage them and to execute any necessary decisions in a timely manner.
- Maintain central list of TA due diligence completed and publish TA categorisation, approval or rejection of TA to operations teams in multiple locations who reference the data for their processing purposes
- Co-ordinate and prepare management reporting information on the risk ratings, value of funds in each category of TAs and details of other service providers, as required
- Retain documentation in a professional manner as evidence for burden of proof to mitigate the depositary's liability and internal/external audit requirements.
- Develop strong working knowledge of TA risk management framework and enhance it as required
- Though understanding of AIFMD & UCITS requirements is helpful, but not a prerequisite.
Experience required:
- Bachelor's Degree (or equivalent) in analytical and numerate subjects
- Extensive experience in the Finance or Banking sectors (Auditors, Compliance, asset management firms)
- Deep knowledge and proven experience in a major Audit firm very helpful regarding production of ISAE 3402.
- Excellent relationship management and networking skills within the work stream team and with stakeholders
- Robust analytical and problem solving skills
- Structured approach to business analysis and documentation
- Excellent written and verbal communication skills
- Delivery focused. Self-motivated. Excellent time management and personal organisational skills
- Ability to work with minimal supervision to tight timeframes
- Ability to prioritise and interact with multiple teams across multiple