Fund Compliance Analyst (18months Fix term contract), GmbH, Associate 1

State Street
Not disclosed
08 Aug 2022
31 Aug 2022
Approved employers
Approved employer
Contract type
Full time
Experience level
Qualified accountant

Who we are looking for :

Reporting to the Fund Compliance Manager (“FCM”), the Fund Compliance Analyst (“FCA”) supports the compliance monitoring functions entailed by the services contracted by our clients and/or the Bank’s depositary duties. The FCA assists in the process of review of the funds in our automated system MIG21 and the analysis of exceptions for subsequent client reporting, where applicable. All of the above tasks are carried out with the outmost objective of delivering quality service to our clients and ensuring that all deadlines are met. A key responsibility of the FCA is to ensure that a clear trail is documented at all stages of the update process.

Ancillary tasks of the FCA is to support the implementation team during short staffing situations. These tasks include the reviewing of investment guidelines, identifiying changes to the current set up, maintaining the funds’ guidelines documentation, and preparing and releasing the related client reports.

Why this role is important to us:

The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder record keeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS’ tools help our clients make better investment choices and act on growth opportunities.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

In the role of Fund Compliance you will be responsible for:

I. Technical Competencies

Compliance reports

  • Reviews MIG21 for all assigned funds and analyses all exceptions identified by the system in order to assess their active, passive or non-breach nature.
  • Prepares client e-mails and obtains a sign off from the FCM for any notification sent to client.
  • Following review, sends the e-mails to the clients.
  • Promptly raises concerns to the FCM if he/she identifies or suspects an error in any of the reports or lists that he/she is using e.g. a system rule is incorrect.

Gain/loss analyses -

  • Once an active compliance breach has been closed, calculates the impact of the gain/loss of the breach to the fund.
  • Reports the information to the fund group, client, fund’s auditor and the CSSF (Regulator) after review and sign-off by the FCM.

CSSF Notification Forms

  • Prepares the Notification Forms for reporting active compliance breaches to the CSSF.
  • Follows-up on related tasks either internally or externally (client, auditors) upon review and sign-off by the FCM.

Fund compliance breaches

  • Documents all fund compliance breaches (both active and passive) and ensures that a clear audit trail is in place for each breach.

Client reports

  • Based on a format and frequency agreed with clients and FCM, prepares daily, weekly, monthly client tables and other ad-hoc client report

Client services

  • Is the primary contact point for clients on fund compliance issues. Is responsible for ensuring that a premium service is provided to clients and organises and participates in conference calls with his/her clients on an ad-hoc basis. As part of the FCA’s client focus, he/she is responsible for maintaining familiarity with, and an understanding of, his/her client’s fund documentation, automated system tests and any other information that may be pertinent to the client, with a view to the continuous improvement of client service.
  • Supports, where necessary, the Depositary team in their oversight functions.

II. Non-Technical Competencies


  • Communicates effectively and efficiently with clients, colleagues, managers and other Departments.


  • Shows good organisational skills in order to meet deadlines and to keep well-documented records.


  • Provides timely and professional responses to all client related and internal enquiries.


  • Shows a flexible approach to prioritize and execute tasks within an efficient time management.

Team Player

  • Functions at all times as a team player to build an atmosphere of co-operation within the group.

  • To be successful in this role, your experience should include:

Academic Qualification

  • Degree in Finance, Business, Legal or equivalent.

Technical Knowledge

  • UCITS, SIF and RAIF compliance regulations
  • Financial instruments
  • Good knowledge of Luxembourg Fund Industry
  • Conversant with EXCEL, WORD and other tools

Language Skills

  • English mandatory, French, German and/or Italian (would be an advantage)

Working Experience

  • Minimum 1 years of experience working in fund compliance.
  • Experience in UCITS, SIF and RAIF legal frameworks, Luxembourgish guidelines and ESMA regulations pertaining to the fund industry.
  • Experience with analyses of Prospectus and/or investment guidelines for compliance restrictions.

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

For further information, and to apply, please visit our website via the “Apply” button below.

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