Role Summary
The Compliance Support Executive is a junior level position responsible for the provision of compliance support to RIIL’s Head of Compliance in all aspects of that role including but not limited to regulatory communications, senior management reporting, maintenance of policies and procedures, Anti Money Laundering (AML) and Counter Terrorist Financing (CFT) activities, compliance monitoring and oversight of investment and other regulatory breaches. In addition, the role will assist in monitoring regulatory developments impacting the activities of the Company and Russell Investments’ Irish fund range (the ‘Funds’) and supporting RIIL’s Head of Compliance in the oversight and education of the Company’s delegates (including intra-group delegates) whose implementation and on-going compliance with Irish and EU regulations and the Company’s own regulatory policies and procedures is of paramount importance.
Working in partnership with RIIL’s Chief Executive Officer and the Director for EMEA Compliance, the role will deputise for RIIL’s Head of Compliance in times of absence.
The role requires a high degree of organisation, client focus, communication skills flexibility in managing a varying workload and desire to professionally develop through internal and external studies.
This is a 15 month Fixed Term Contract.
The responsibilities of the individual in this position include:
Regulatory & business conduct
Displaying exemplary conduct and living by our organisation’s Code of Conduct.
Taking personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct across the business.
Effectively and collaboratively identifying, escalating, mitigating and resolving risk, conduct and compliance.
Culture
External regulatory communications
Senior management reporting
Regulatory framework
Contributing to the maintenance of the Company’s regulatory framework.
Maintaining regulatory policies, procedures and guidance.
Providing regulatory advice on all day-to-day business matters as necessary including advice on new and amended services and products.
Providing regulatory training both planned and ad-hoc.
Regulatory developments
Maintaining awareness of regulatory developments impacting the Company and the Funds and communicating these to others as necessary.
Contributing to impact analysis of such developments.
Providing advice and working alongside others to contribute to implementation activities designed to respond to regulatory developments and particularly interactions with delegates (including intra-group) to ensure continued compliance by those delegates with the Company and the Fund’s policies and procedures and board direction.
Approval and monitoring of delegated activities
Using the results of the regulatory risk assessment and management information from global oversight teams, contributing and supporting the design of oversight programmes of delegates (third-parties and intra-group) both in terms of initial on-boarding and on-going oversight activities. Being involved in the formal approval of delegate hires.
Working with other functions to ensure robustness of the Company’s governance arrangements relating to outsourcing and to ensure that for each outsource service provider, the arrangements meet the European Union and the Central Bank of Ireland’s outsourcing rules and guidance.
Supporting the conduct of monitoring and oversight reviews (including desk-based and on-site reviews) of delegates (third-parties and intra-group).
On-site may involve travelling both in-state and international.
Recording outcomes of oversight reviews and presenting findings in accordance with senior management reporting requirements.
AML/CTF
Supporting RIIL’s Head of Compliance/ MLRO for the Funds & the Company incorporating:
Evaluation of suspicious transaction reports; onward reporting to relevant authorities where necessary.
Maintenance of AML/CTF risk assessment, policies and procedures for the Funds & the Company in line with Irish regulation and guidance.
Oversight of Irish domiciled fund administrators.
Creation and roll out of AML/CTF training as necessary.
Point of escalation for fund administrators and Client Service/Sales teams.
Monthly transaction surveillance & stopped accounts monitoring.
Quarterly reporting to governance committee & Board(s).
Liaison with AML Officers in RIIL branch offices as appropriate.
Liaison with EMEA MLRO on issues that may impact other EMEA group companies.
Maintenance of fund beneficial ownership registers.
Compliance Monitoring
Using the results of the regulatory risk assessment to contribute to the design of the EMEA compliance monitoring programme.
Supporting the performance of compliance monitoring reviews and coordinating reviews with other EMEA and Global compliance personnel.
Working with intra-group teams to ensure appropriate controls are in place in relation to trading within the RIIL client accounts.
Compliant Oversight
The successful candidate will have extensive demonstrable skills and experiences including the following:
Financial or business-related degree or relevant prior experience from working in a similar role.
Basic understanding of the financial services industry in Ireland and how that industry is regulated by the Central Bank of Ireland but also other EU authorities (i.e. ESMA).
Previously carried out a similar role within an investment firm, fund management company or fund administrator.
Knowledge of MiFID & AML (& related guidance) preferrable.
Consistent and uncompromising adherence to strong moral and ethical principles and values
Good communication, listening, speaking and writing skills delivered to audiences at all levels of seniority.
Ability to act with diplomacy and present information with clarity to associates, clients and to service providers.
An entry level awareness of financial products and services offered by RIIL but also the wider Russell Investments Group including, who offers them and how different functional teams interact.
Ability to assist the growth of RIIL and the group whilst being conscious of operational commitments, current priorities and emerging opportunities.
Self-motivated, strength to work under pressure, make difficult decisions and stand by them, escalating as appropriate.
Good teamwork skills, with the ability to organise and prioritise work.
Ability to investigate operational issues, determine how new requirements need to be implemented and look for opportunities to improve service quality, efficiency, and the controls environment.
