Crossborder Oversight Analyst

Job Description

Role title: Crossborder Oversight Analyst

Contract type: Permanent

Location: Edinburgh/ Luxembourg  

At abrdn, our purpose is to enable our clients to be better investors.

Clients worldwide trust us to find future-fit investment opportunities to deliver the outcomes they want. Our technology and insight help empower them to make better decisions, while the powerful partnerships we build help to enhance the expertise that we offer. And by enabling clients to invest responsibly, it helps us to build a better world.

About the department

The Distribution Governance and Oversight team is part of abrdn’s Investments Vectors Client Ris & Governance Team. With a focus on UK and EMEA in the near term, the team is dedicated to the development and implementation of effective governance & oversight processes which ensure distribution activities (by abrdn and its delegates) are compliant with all local regulations.

About the role

The role holder will be responsible for assisting the Head of Distribution Oversight & Governance who is responsible for the oversight of all abrdn Investments Luxembourg’s (“aIL”) Distribution activity. This role focuses on oversight of delegation to companies within the abrdn Group and crossborder related service providers. You will work closely with the Conducting Officer, Head of Distribution Oversight & Governance and the wider Client Group’s Risk & Governance Team to ensure a robust programme of crossborder oversight is delivered in accordance with the Group’s framework and meeting all regulatory standards.

Key Outcomes / Responsibilities

• With reference to the Third-Party Risk Management framework and CSSF regulation, assist in developing and implementing an Oversight and Governance model and process for the delegation of distribution to companies within the abrdn Group.

• Assist in ensuring oversight of all internal distribution delegates is completed in accordance with an agreed framework which meets CSSF requirements,

• Assist in ensuring all marketing services are documented appropriately and oversight arrangements put in place. This includes production of printed and/or digital marketing communications issued by aIL Luxembourg or its delegates.

• Assist the abrdn Group’s Crossborder Fund Registration Team in ensuring appropriate regulatory permissions are obtained for cross-border marketing and delegates are compliant with local marketing regulations

• Support the selection and assist in overseeing performance of externally and internally delegated services including for example cross-border passporting and KIID production service provider.

• Support the selection and monitoring process of third parties included in the distribution of funds, including local fund representatives and paying agents.

• Coordinate with the support of the team the delivery of the Executive Committee, the Management Company board and the relevant product boards (including the SICAV boards) reports on aIL Luxembourg’s delegated distribution activity and the associated oversight/monitoring.

• Assist in responding to due diligence or ad-hoc queries from the CSSF or any other regulators in relation to Distribution, or incoming requests from distributors, local representatives and paying agents performing due diligence on aIL,

• Taking into consideration abrdn policies and the regulatory landscape maintain and enhance internal processes and procedures

• Support the Head of Distribution Governance & Oversight with building team brand across key internal stakeholders to build awareness of abrdn obligations and responsibilities.

• Support as and when required other teams within the Client Risk & Governance Team including the proportional, risk-based due diligence and oversight of distributors in line with current regulatory landscape (including CSSF circular 18/698 in Luxembourg and FCA Product Governance & Consumer Duty rules in the UK)

  About the candidate requirements

  To be successful in this role you will need (minimum experience/requirements)

  • Knowledge of financial markets, and the distribution of funds gained through relevant experience in a management company or service provider.

  • Strong understanding of the regulation for distribution of funds, including the requirements of UCITS, AIFMD and MiFID.

  • Strong risk mitigation and compliance driven mindset balanced with need to be flexible, adaptive, and empathetic when dealing with senior professionals from across the business.

  • Good working knowledge of Microsoft Office products with practical experience in the creation and delivery of balanced & objective reports, papers & presentations

  • Excellent English skills, with French, Spanish or Italian being an advantage

  • Experience with process simplification, improvement, and automation an advantage

    Moreover, we recognise that supplementary skills beyond the minimum criteria can greatly enhance your success in this position. These skills are:

  • A team player – able to collaborate effectively with your colleagues, consistently putting the teams’ goals and interests ahead of personal ones and actively contributing to the wider teams shared objectives.

• Strong Organisational Skills and an acute attention to detail.

Excellent time management skills – the ability to demonstrate exceptional time management skills by efficiently planning and prioritising tasks to meet deadlines.

Self-Motivation – you exhibit a high level of self-motivation and can take the initiative to identify and tackle challenges proactively.

Independent working - The ability to work without day-to-day direction is important and the role holder will assist with the establishment of procedures, monitoring, governance, risk identification and escalation.

Customer Focus – works hard to understand the needs of internal and external stakeholders and tailors approach appropriately.

Communicating and Influencing – enthusiastic when dealing with others and listens to stakeholder needs. Uses a range of influencing tools and techniques to persuade others to act.

Information Gathering – works hard to collate information to ensure full picture is understood and decisions can be made. Must be able to spot trends and anomalies in data.

You are able to take ownership of your work, ensuring that it aligns with organisational objectives and quality standards.

We are proud to be a Disability Confident employer. Therefore, if you have a disability and would like to submit an application to one of our UK roles under the Disability Confident Scheme, please notify us by completing the relevant section in our candidate questionnaire and one of our team will reach out to support you through your application process.

We’re committed to providing an inclusive workplace where all forms of difference are valued and which is free from any form of unfair or unlawful treatment.  We define diversity in its broadest sense – this includes but is not limited to our diversity of educational and professional backgrounds, experience, cognitive and neurodiversity, age, gender, gender identity, sexual orientation, disability, religion or belief and ethnicity and geographical provenance.  We support a culture that values meritocracy, fairness and transparency and welcomes enquiries from everyone.

If you need assistance or an adjustment due to a disability please let us know as part of your application and we will assist.