State Street

AIS Investor Services and AML/FATCA, Vice President

State Street
Not disclosed
12 Apr 2024
30 Apr 2024
Approved employers
Approved employer
Contract type
Full time
Experience level

Who we are looking for

The successful candidate will play a vital role in developing the strategy of the Investor Services and AML/FATCA department at AIS. They will be the driving force behind our key location in Luxembourg and also provide support across the broader EMEA Investor services groups (Ireland/Poland) ensuring that the operational infrastructure in place is in line with strategy. They will be responsible for developing and maintaining a strong Investor Services and AML control environment and for ensuring policies and procedures are followed and clients are serviced to the highest standard and the Luxembourg and broader Ireland, Poland team are meeting their goals. They will provide leadership to their teams and ensure the Investor Services department delivers and efficient service to clients and investors.

The successful candidate will be required to face off with clients locally during onsite meetings, Due diligence sessions, and sales pitches. They will be required to build up local relationships with Senior Management contacts and Compliance team contacts to build seamless workflows between all operational groups.

The Investor AML Services tasks include Fund and investor on boarding and identification/verification of Investors, Registration of Investors, AML/FATCA level file reviews for investors entering into our contracted funds. Sanctions and PEP screening of all Investor names/Connected parties, retention, label-ling and loading of all AML Documents for these investors, Reporting for our clients, boards and MLROs or Investor AML statistics. Other items include AML Audits (Internal and External), Remediation Projects of AML files, operational management of AML function and team members, building client and team member relationships.

  • Client facing during onsite Due Diligence Sessions, Regulatory visits, MLRO visits, Sales pitches etc.
  • Representation on Local Risk Committee Meetings to provide IS/AML Services overview
  • Management and development of the Investor Services and AML/FATCA services teams/location.
  • Lead and delegate onboarding projects & develop solutions for our clients.
  • Provide sound oversight environment of all operational teams locally
  • Monitor levels of unauthorised Investor AML accounts to put forth plans/timelines to clear all open items
  • Ensure a greater awareness of the risk environment.
  • The VP role has full accountable for controls within their teams and deploying new controls across the Investor Services and AML/FATCA services department.
  • Manage direct reports and number of clients with multiple AVPs reporting to them.
  • Generate a strategy and initiatives across the department.
  • Maintaining highest levels of client satisfaction and monitoring client RAG status and deliverables
  • Meeting quarterly and annual goals set across the department

What you will be responsible for

  • Oversight and development of local Investor Services/FATCA AML teams client relationships ensuring the IS And AML service delivery and client requirements are consistently met or exceeded.
  • Oversight and responsibility for the local AML statistics and mailbox control for their clients/teams.
  • Full ownership of IS/AML onboarding client projects and new business implementation start to finish.
  • Act as the key support for direct reports on client relationships matters and attend client meetings when required.
  • Develop and build strong relationships with peer groups across the Investor Services departments and Global AML teams to better align the goals and work practices of each group.
  • Act as the key person within the local AML Team to enhance the relationship with Regulatory, Risk and Compliance teams. Be fully involved in interpreting regulatory changes, understanding the operational impact for TA and providing challenges to the groups around regulatory implementation and the effect of such on TA and clients.
  • Work to provide customer based solutions to clients whilst balancing the regulatory requirements against the client’s needs.
  • Work closely with internal State Street support functions (HR, Training, IT) to ensure thorough support is given to TA at every level.
  • Management of 3rd party relationships, representing AIS AML with client MLROs, auditors, the Regulator, acting as a strong voice in the industry for Services AML items.
  • Ensure the local IS and AML Team are fully resourced; work with Directors and Managers to assess needs and bring forward strong business cases to the MD’s/SMD for approval of resources.
  • Determine alternative strategies for resources management when necessary looking at cost effectiveness and technology measures such as automation and other efficiencies with the process etc.
  • Work with directors and managers ensuring staff turnover is managed appropriately and ensure an engaged and motivated team environment. Act as a point of escalation of employee issues.
  • Foster a team environment of regular communication, ensuring one to one meetings, PPR review are conducted and focus on development opportunities for direct reports.
  • Attend weekly director meetings providing feedback on operational, client and industry matters, act as a lead in promoting issues/projects etc. in department for further decision making.
  • Research and identify new technologies and best practices to harness stronger and a more controlled operational environment.
  • Play a significant lead role in initiating and participating in the completion and implementation of department wide projects (local and global) and lead local team initiatives.
  • Managing Relationships:
    • Reports - Engage in one to one meetings with direct reports, coaching team members, point of escalation
    • Management – provide direct support to MD’s; provide regular status updates to manager.
    • Peers – Strong alignment between AML, TA, Relationship management, and break down barriers that exist the team and build relationship to work together to better service the clients. Join directors meeting, provide inputs and recommend solution to overall TA issues, lead global TA initiatives.
  • External
    • Most important for VP to understand client’s business, build on the relationships, understand the client’s needs and educate the internal TA teams. Balance the regulatory change with the client’s expectations and provide solutions. Attend client meetings when required.
    • Strong relationship with 3rd parties, e.g. auditors, regulators, appointed MLROs etc.
    • Participate with peers at industry forums, be a strong voice for AIS.
  • Internal
    • TA and RM groups along with Corporate Compliance teams to ensuring effective client service.
    • CARRS/Compliance/Legal – Extremely important for role, need to be involved at early stage of regulatory change, be knowledgeable and have ability to challenge the team. Look at the impact over the wider IFS business.
    • HR/Training – important relationships to understand the services these team provide, ensuring best service and support structures in place.

Education & Preferred Qualifications

  • Degree in Finance and/or Business Related area or relevant working experience.
  • Relevant AML/Compliance Qualification preferred
  • 10 years Fund Administration experience (preferable some Hedge/PE Transfer Agency) with at least 5 years transfer agency and strong AML experience, and knowledge in Tax Services FATCA/CRS a preference.
  • Strong experience in Client Relationship Management and client facing roles is essential for this role.
  • Strong people management experience of multiple direct reports, larger operational teams
  • Strong working knowledge of implementing a control environment for AML/KYC
  • Strong working knowledge of industry, AML, regulations, clients etc.
  • Significant change management experience.
  • Proficient in Microsoft Office applications in particular Excel and PP
  • Strong working knowledge of Transfer Agency operations, Fund on boarding, Registration, Statements etc.
  • Positive and Self motivated Leader who is willing to continue to learn, and lead by example and be in the detail of the teams and operational processes.

Job Challenges

  • Busy Operating Environment – Engaging staff, keeping team members motivated, ensuring career development, managing staff turnover, managing volumes and projects, meeting productivity goals
  • Managing and supporting teams across multiple Jurisdictions e.g. Involvement across EMEA, Ireland, Poland, APAC, India etc.
  • Understanding the business and economic constraints and communicating effectively with senior management to secure resources and meeting Business Transformation targets.
  • Time Management, and oversight of the BAU environment, oversight of AML Volumes and Statistics and clearance rates of all open Investor cases and priorities.
  • Delivering the day to day expectations of a demanding client groups in a changing and difficult regulatory environment.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs 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 perspectives 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 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 programs 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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