Legal & Compliance Manager
This role has a dual reporting line into both Compliance and Legal a lawyer in the London legal team and as such the responsibilities are split broadly 50-50 between both areas.
Compliance
The successful candidate will assist the Head of Compliance (Europe) in ensuring that the firm complies with relevant FCA and European regulatory requirements, as well as relevant group compliance policies and procedures.
They will also ensure that the risk-based Compliance Monitoring Plan is complete each month. This will completed by overseeing the completion of less complex monitoring items by a Compliance Analyst, and undertaking more complex monitoring tasks themselves.
Responsibilities include (but are not limited to):
- Undertake more complex monitoring items in relation to the Compliance Monitoring Plan (e.g. Asset Class Desk Reviews, and adherence to FCA regulations and policies such as TCF, Bribery Act, Client Order Handling and Record Keeping, and Use of Dealing Commissions)
- Prepare and issue reports of the testing and results and circulate and escalate as necessary
- Consider required revisions to the Monitoring Plan
- Oversee the completion of the less complex monitoring items by the Compliance Analyst and ensure that monthly monitoring is consistently completed in a timely manner.
- Develop and document policies and procedures, to ensure compliance with regulatory policies and procedures
- Develop familiarity with firm and group policies and with relevant FCA regulations and provide advice to staff in relation to them as required.
- Maintain the compliance manual and ensure that it is available to all staff
- Deputise for the Head of Compliance, as well as supporting them in providing advice and support to the business
Legal
- Working closely the Head of Legal and their number 2, the legal responsibilities are as follows:
- Assist and deputise for the current “go-to” legal contact for the sales and marketing teams within the firm
- Provide support for other legal or company secretarial matters (as set out below) on a case by case basis, as directed by the Head of Legal
- Deputise as the primary legal point of contact for Sales and Marketing and Product Development team on marketing and distribution arrangements
- Review and negotiate distribution agreements and related documentation for a range of Irish UCITS and non-UCITS funds (including introducer arrangements and relationships with fund platforms), working closely and collaborating with internal customers and stakeholders
- Prepare commission rebate letters in relation to investments into the Irish fund range
- Attend client meetings where required
- Participate in the distributor due diligence and take-on process (as implemented by the Compliance Department)
- Provide legal training to internal customers and stakeholders on marketing and distribution-related topics (i.e. PRIPS, FATCA, OFAC, Bribery Act, UCITS V, AIFMD, etc)
- Review existing contractual arrangements on a periodic basis to ensure such arrangements remain legally effective and in line with legal and regulatory developments
- Develop precedent documents and templates and investigate new “know-how” processes and procedures with a view to increasing efficiencies
- Oversee the UCITS and non-UCITS (post-AIFMD) registration process (as provided by a third party vendor) ensuring that the business and other relevant stakeholders are regularly informed of funds’ registration
As directed by the Head of Legal from time to time, provide legal support on other legal and/or company secretarial matters including but not limited to:
- Review and negotiation of investment management agreements
- Review and negotiation of third party contracts
- Maintenance of statutory registers for legal entities registered at London office
- Taking and preparing minutes of board or management committee meetings
- Assisting with the establishment, amendment or termination of funds
- Managing and liaising with external legal advisers
- Tracking UK, EU and international legal and regulatory developments
- After handover, become the legal interface with the Sales, Client Service and Marketing, ensuring that contractual arrangements are completed in a timely manner in alignment with the business’ requirements
- Candidates should also have sufficient generalist experience so as to be able to become involved in a wide variety of legal matters as circumstances dictate
Key Skills and Experience
- The candidate must be a lawyer qualified to work in the UK with a minimum of 4 - 6 years’ PQE, ideally in-house with an asset management firm; Funds lawyers from a private practice background looking to move in-house will also be considered
- Candidates must additionally be able to demonstrate 5 years+ compliance / regulatory experience, ideally gained at an investment / asset management firm
- Able to demonstrate a good understanding of the regulatory priorities in the industry, the relevant regulations and the impact of these on an investment firm
- Experience in providing Compliance input into various aspects of an asset management company
- Be capable of and demonstrate an interest in keeping abreast of regulatory developments
- Possess excellent organisational skills
- Be able to work without close supervision
- Be confident in dealing with staff members at all levels of seniority
- Excellent verbal and written communication skills
- Be a self-starter and able to work independently or as part of a team
- Ability to prioritise workloads and deliver within set deadlines
- Possess an entry level Securities qualification (preferred but not essential)
Candidates must have BOTH legal and compliance experience as outlined.
This is an exciting and challenging role with real breadth of exposure which is unusual to find in the market today.
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