AML Manager, Transfer Agency
- Location: London, England, United Kingdom
- Salary: competitive
- Job Type: Full time
The Transfer Agency (“TA”) department provides a third party fund administration service to numerous fund management companies covering the full range of shareholder servicing functions including dealing, registration, settlements, distributions, commissions and statements. This position reports directly to the Head of Anti Financial Crime Transfer Agency (1st Line of Defence).
The Key responsibilities of the role include
Responsible for overseeing all aspects of Anti Financial Crime processes and associated controls in UK Transfer Agency and any outsourced activity, including:
• Oversight of the AML process for new and existing investors, including transaction monitoring and outsourced activity
• Develop and maintain effective relationships with internal stakeholders, clients, and any other external third parties e.g. external advisors
• Direct Liaison with clients and client MLROs in respect of due diligence responsibilities, including attendance at client meetings
• Managing and investigating complex AML and Fraud cases and complaints , where required, utilising a robust decision making ability towards appropriate resolution
• Assists in ensuring there is robust controls, procedures and processes in place
• Identify and coordinate training needs, procedure updates and the implementation of controls to minimise potential money laundering risks
• Provide leadership and guidance to team members and colleagues
• Reviewing and analysing MI
• Act as deputy to the Head of Anti Financial Crime Transfer Agency
• Membership & attendance at regulatory industry forums to align with peers
The AML Manager role is a proactive leadership role that is responsible for ensuring that TA is adhering to all applicable minimum standards, with appropriate processes and controls in place to maintain compliance.
Additionally, the role will ensure that non-standard processes are appropriately agreed and documented to mitigate regulatory risk to NT and its clients. This includes any commercial arrangements as necessary where the required standards will exceed or differ to those required by the regulations.
Major Duties and Responsibilities:
• Achievement of monthly AFC KPIs
• Lead role in the delivery of TA specific projects, including any required remediation projects in respect of client transitions in accordance with client agreements
• Maintain and build out of the AML team to accommodate regulatory change, as well as new client register takeons and any bespoke requirements as necessary
• Responsible for ensuring the day to day AML quality and delivery including enhanced Client Due Diligence and Adverse Media & PEPs Screening
• Maximise scalability through the use of offshore locations, with ongoing remote management
• Compliance with all applicable local regulations, including ongoing reviews to ensure systems and processes are in line with the latest standards
• Build up and maintain close working relationships with peers to keep abreast of industry and regulatory change.
• Maintain a close working relationship with other areas of TA, Compliance, Risk and Relationship Management
• To work with internal departments to evaluate and implement changes in proposed new regulations and to ensure that all current requirements are met including any relevant directives
• Liaise with clients regarding the service and Service Level Agreements.
• Liaise with all Compliance, Risk and Audit partners as part of their process and control reviews
• Escalation point for issues for the local (London) and offshored TA teams
The successful candidate will require:
• Extensive experience of Anti-Financial Crime – AML/KYC and fraud an understanding of legislation and regulation is essential, particularly for the UK
• Significant operational mutual fund administration management experience gained in a Third Party Administrator, Transfer Agency or working directly for a fund manager
• Understand the end-to-end TA model and downstream/upstream impacts
• Excellent planning and organisational skills, with the ability to react and flex plans accordingly
• Ability to plan at the tactical and strategic level
• Ability to work under pressure meeting challenging deadlines
• Ability to review and resolve complex issues
• Ability to work on own initiative
• Ability to manage a team of direct reports
• Influencing skills for managing offshore teams in Europe and Asia
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 16,500 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 December 31, 2017, Northern Trust Corporation had:
• $139 billion in banking assets
• $8.1 trillion in assets under custody
• $10.7 trillion in assets under custody/administration
• $1.2 trillion in assets under management