At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive. Try new things, learn new skills and discover what you excel at—all from Day One.
As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other.
Job Description
What is the purpose of this Role?
As Branch Compliance Manager / Money Laundering Reporting Officer, you will be responsible for ongoing compliance oversight and money laundering reporting relating to the Luxembourg Branch. You will partner with all stakeholders to ensure local regulatory, fiduciary and compliance responsibilities are satisfactorily discharged. Additionally, you will represent EFS Luxembourg Branch at regulatory meetings, client sales presentations, and industry events where required.
The role holder will be the primary subject matter expert for our Branch activities and associated regulatory requirements, providing subject matter expertise to the first line of defence (“FLOD”) on the application of local and EU regulation.
Which jobs(s) does this Role report to?
Direct line reporting:
Senior Vice President, Chief Compliance Officer - Europe | PAY-Risk And Compliance
Fitness & Probity
This role is a ‘controlled function’ as defined by the Central Bank Reform Act 2010 Regulations 2011.
1. Accountabilities for your role - what are you expected to do?
Responsibilities:
Lead and/or participate in the Corporate Compliance programs relating to Luxembourg.
Completion of compliance assessments to a professional standard.
Designated point of contact with local regulatory bodies.
Primary day-to-day contact point for business line regulatory and compliance queries.
Development and implementation of one or more Policies/ Frameworks.
Timely and accurate submissions to regulatory bodies arising from requests/inspections.
Lead Compliance representative for FLOD led projects e.g. business expansion, acquisitions, new products and services etc.
Lead one or more of the initiatives under the Annual Compliance Plan.
Lead the implementation of regulatory change projects in the branch.
Design and delivery of compliance training to business units and/or corporate functions.
Oversight of the day to day execution of Compliance monitoring and testing in the Branch.
Distilling, drafting and presenting complicated issues and regulatory requirements to both internal and external stakeholders, including the drafting of explanatory guidelines/documentation as required.
Production of material for inclusion in Compliance reporting.
Regular attendance and presentations at an EFS Senior Operating Committee.
Other such duties as reasonably requested by Compliance management.
Money Laundering Reporting Officer (“MLRO”)
The job holder will be designated as local MLRO. This will include being authorised by the Commission de Surveillance du Secteur Financier as the AML/CFT Compliance Officer of the Branch. The role holder will be responsible for the anti-money laundering compliance and reporting process consistent with EFS corporate model in addition to local Luxembourg requirements with a matrix reporting line to the EFS Head of Financial Crimes / Group MLRO based in Dublin. Responsibilities will include but not limited to;
Luxembourg governance functions and reporting (AML/CFT Compliance Officer).
Completion of AML risk assessments to a professional standard.
Build out a strong second line oversight for Luxembourg working with the EFCC function;
Enhance the AML program including but not exclusively AML/Economic Sanctions Risk Assessments and Local Country Requirements in accordance with guidelines or manuals issued by the Bank setting out the governance within those programs;
Overseeing that the implementation of the AML Program is consistent with regulatory expectations and industry practice for the Depositary business line;
Oversee contact with regulatory bodies in co-operation with the Elavon/U.S. Bank Regulatory Services teams;
Act as the point of escalation for the branch on AML /Economic Sanction matters
Facilitate, participate and consult in the execution of the Second and Third Line of Defence testing, Risk Assessment & Policy Implementation program and the business change program;
Promote the Financial Crime Compliance culture across the branch through active engagement with management, peers, direct reports, stakeholders, and other employees;
Provide clear guidance and credible challenge to senior business leaders in their implementation of Financial Crime controls;
Represent Depositary Luxembourg and Global Fund Services Luxembourg (where required) with other internal stakeholders promoting best practice and consistency across all jurisdictions including the Third Party AML Program.
2. Competencies for your Role - how are you expected to behave?
1. Drive for Results
Pursues goals with energy and perseverance; rarely gives up before succeeding; works to overcome barriers and challenges in order to produce desired results; can be counted on to achieve or surpass goals; consistently a top performer among peer group.
2. Collaboration
Develops good working relationships with others; recognizes and values differences; encourages an inclusive collaborative environment and open dialogue; puts team’s goals ahead of personal agendas; shares information openly and transparently; openly supports team members and their efforts.
3. Agility & Innovation
Demonstrate flexibility in dealing with fast-changing priorities, and different or challenging situations. Help others to continuously improve and achieve results. Explore multiple solutions to overcome obstacles. Anticipate future needs that may affect the team or organization
4. Talent Development & Engagement
Provides others with a clear direction; Sets appropriate standards of behaviour; Delegates work appropriately and fairly; Motivates and empowers others; Provides staff with development opportunities and coaching; Recruits staff of a high calibre
5. Risk Management
Appropriately identify and manage risks, in compliance with applicable laws, rules and regulations, and with Company Policy.
6. Ethics and Trust
Maintain high ethical standards; gain the confidence and trust of others through honesty, integrity and authenticity. Conducts him or herself honestly and ethically; adheres to a core set of values and standards appropriate to the situation and acts; accordingly, is consistent in own words and actions; inspires trust and respect by dealing openly with people; keeps confidences and admits mistakes
Qualifications Required to perform your Role?
Strong previous experience (5 years plus) in a risk/compliance role, preferably in a credit institution and/or fund service provider.
Prior experience as MLRO preferred.
Industry certification in AML/Financial Crimes e.g. CAMS would be a plus.
Proven track record of working on own initiative and delivering practical outcomes to a professional standard.
Excellent assurance testing skills with an emphasis on evidence-based outcomes, prioritisation, issue management, and communication.
Excellent understanding of the financial services industry, with prior experience engaging with regulators and internal/external auditors preferable.
A relevant third level qualification (e.g. law, business, finance, Diploma in Compliance).
Fluency in English (both verbal and written) essential and ideally fluent in French.
Compliance experience within funds industry and/or experience as an MLRO an advantage.
Demonstrable experience of interaction and influencing at a senior level.
Control Function Disclosure
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
This role has been identified as a Controlled Function (“CF 2”) under the Central Bank of Ireland’s Individual Accountability Framework Act 2023.
Accordingly, EFS must be satisfied on reasonable grounds that the role holder complies at all times with the fitness and probity/propriety standards. Applicants agree to permit EFS (or its agents) to conduct such due diligence as it deems necessary to satisfy itself on reasonable grounds that you comply with the Fitness and Probity/Propriety Standards and that you will provide EFS with all information and/or documentation relating to your qualifications, experience, employment history, financial soundness and other interests that EFS requests for that purpose.
If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Benefits:
We offer an exciting, fast-paced and diverse working environment with employees of many different nationalities. We provide benefits to help you protect your health and financial security; and give you peace of mind. We also invest in your career growth with development resources that give you the opportunity to stretch and shine.
