Jobs in funds

What kind of jobs are common in the fund industry?

What will I do as a fund administrator?

 

  • Participating in the initial setup of any new funds and liaising with the onboarding team and other parties as part of the set up process;
  • Assisting the team in the delivery of all client services;
  • Assisting with the review and execution of documents
  • Preparation of periodic reports and regulatory reports for the fund entities;
  • Ensuring effective cash management of client entities and undertaking cash reconciliations;
  • Preparation of regulatory returns as required for client entities;
  • Processing business and client payments as well as raising of client invoices;
  • Preparing the funds’ periodic Net Asset Value calculation and year-end financial statements, management of the audit, and reviewing other fund related reports;
  • Reviewing tax returns and tax balances and maintaining relevant contacts with the tax authorities.

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do in Onboarding?

 

The core responsibilities of the team are:

 

The team’s main responsibility is to control the onboarding of clients investing in Luxembourg domiciled investment funds (or separate accounts) and to apply Anti-Money Laundering (AML) controls and Know-Your Customer (KYC) standards as required by the firm’s policies. This role also includes the oversight of activities delegated to internal and external service providers.

 

  • Client Onboarding
  • Client account maintenance for any client event including an AML aspect
  • Pre-account opening screening for negative media, PEP and black lists
  • Communication to vendors in relation to AML requirements and needs

 

The following activities are shared amongst team members

 

  • Execute controls around client onboarding and promote risk awareness with other teams
  • Complete client onboarding and seek to improve the effectiveness & efficiency of processes
  • Draft and maintain desk procedures & guidelines
  • Escalate to management any issues our deviations from standard processes that can lead to any financial or reputation impact
  • Undertake/participate, when required, in team and departmental projects
  • Attend team meetings and actively contribute to team discussions
  • Meet regularly with internal and external stakeholders as required
  • Understand and apply key principles of AML/KYC

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do in KYC?

 

Prepare, review and sign off of investor onboarding documentation (FATCA/CRS files, application forms and due diligence of investor AML/KYC files);
  • Assist with the business and relationship managers in obtaining updated information and documentation required to meet legal and regulatory money laundering/terrorist financing requirements along with internal KYC requirements.
  • Research clients from all corners of the globe to make sure the bank would not be liable for dealings with those working in terroristic organisations or criminal activity related to the laundering of funds.
  • Analysis of documentation for high risk clients, focusing on legal entities such as SPVs, trusts, foundations, financial institutions and listed corporate clients.
  • Engage with clients such as the above, in order to undertake due diligence and provide a clearer understanding of regulatory requirements.
  • Conduct due diligence on both foreign and domestic entities to ascertain data points such as ownership and control to identify all ultimate beneficiaries, legal representatives and possible PEP’s.
  • Perform screening for PEPS and adverse media; vetting the positive and false positive hits and recording the information in relevant places for on-going monitoring.
  • Liaise with relationship managers to obtain documents not publicly available or to mitigate screening hits with not enough information to discount.
  • Enrich existing incomplete KYC records in accordance with corporate policy and standards.
  • Responsible for identifying data conflicts and remediating to the standard.
  • Liaise with internal clients to fully understand data content and ensure alignment.
  • Notify relevant persons of customer profile changes i.e profiles requiring deactivation, name changes, risk rating changes.

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do in Compliance?

 

  • Providing ad- hoc advice and guidance to the finance and legal account managers on the full range of compliance topics, including AML, sanctions, privacy, conflicts of interest, outsourcing, licensing etc. in accordance with the relevant regulations;
  • Providing support to the financial and legal account managers as well in the process of client acceptance and client file reviews, ensuring accuracy and completeness of the client files;
  • Assisting legal and financial account managers with compliance issues during the client’s life cycle (client acceptance due diligence, transaction monitoring, periodic reviews, and exit);
  • Providing training and support to the business to continuously enhance awareness and understanding of compliance risks and regulations;
  • Establishing and implementing effective and pragmatic processes and procedures to mitigate compliance risks;
  • Taking part in various compliance projects and working groups.
  • Acting as back -up for the Head of Compliance Luxembourg

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do in Depositary?

 

  • Actively participating in the day to day operational depositary work, ensuring compliance of Alternative Investment Funds with regulations, with a focus on the following depositary duties:
  • Cash monitoring
  • Oversight
  • Safekeeping
  • Performing analysis and controls in order to mitigate the risk linked to depositary services.
  • Assisting in drafting answers to clients’ requests for proposals and their related fee proposals.
  • Participating in performing due diligence on our third parties.
  • Being the clients’ contact point for both operational topics and the management of internal and external parties’ relationships such as Asset Managers, Administrators, Auditors, etc.

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do as a Fund Accountant?

 

  • Manage the accounts and financial reporting of the funds, including data collection and analysis for monthly and annual financial closing.
  • Liaison with the fund manager, administrator, external auditor and tax agent.
  • Coordinate with the fund administrator and fund manager to ensure accuracy of the fund reporting.
  • Support investor onboarding process which includes KYC and due diligence checks to ensure compliance with all regulatory requirements.
  • Manage money flow of the funds (eg. Payments of expenses, Subscription / Redemption monies etc).
  • Prepare documentations to support fund operations (eg. board resolutions, investor records etc)
  • Review the NAV statements, financial statements and other relevant reports for the funds.
  • Provide advice on fund structuring or other fund related matters.
  • Support corporate goals and other business/departmental initiatives.

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do as a Portfolio Manager?

 

  • Support Portfolio Management
  • Operational control of delegated Portfolio Management and Advisors
  • Support the Marketing and Distribution function of the AIFM
  • Support Due Diligence on investments and counterparts
  • Operational portfolio management process for the AIF and AIFM and ensure ongoing application of related polices
  • Perform the Outsourcing-controlling of portfolio managers or investment advisors
  • Perform due diligence on investments /  managers / advisors and AIF distributors
  • World check control of investments
  • Perform control of NAV Portfolio per AIF
  • Perform Check on Investment Proposal of advisors
  • Analyse the financial framework of investment proposals
  • Monitor the development of portfolio investments
  • Escalation of all findings to the Conducting Officer
  • Review executed trades by delegated managers
  • Ensure accurate position tracking of portfolio for all AIF
  • Ensure appropriate documentation of all portfolio management and investment related activity
  • Support any IT matters and internal audit requests
  • Prepare and attend stakeholder meetings on demand

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do as an AIFM administrator?

 

  • Supporting the conducting officers on day to day requirements and administrative tasks
  • Coordination of the onboarding of new funds and ensure all AIFM processes are duly implemented following the establishment of a fund
  • Preparing the briefing memorandum as part of the fund onboarding process of the AIFM
  • Performing coordination and/or lead of ad-hoc AIFM projects
  • Working with the teams appointed to advise AIFM to ensure roles and responsibilities are understood and processes and service standards are in place
  • Monitoring all statutory and regulatory filing deadlines of the AIFM
  • Reviewing and updating the AIFM’s policies and procedures in accordance with regulatory requirements
  • Coordination of the annual review of the policies at the level of the AIFM and as required from time to time
  • Work with the global fund teams to collect and provide all supporting information required by the AIFM during the selection of service providers to AIFs managed by the AIFM
  • Implementing the AIFM oversight methodology of delegates and other service providers (depositaries, central administration, investment advisors, IT and marketing function)
  • Education of the AIFM delegates and service providers on the AIFM oversight duties
  • Liaising with the internal auditor, overseeing audits and coordinating responses to audit points and follow up the recommendations
  • Coordination of the AIFM information flow process with the depositary
  • Organizing and attending the conducting officer meetings and drafting related minutes
  • Administer the filing and record keeping systems of the AIFM, ensuring all documentation is stored and available for review and communication to third parties (eg depositaries, auditors, regulatory body)
  • Upload or release of documents
  • Creation of reporting alerts in the online compliance system and flag missed deadlines
  • implementation or improvement (if needed) of the AIFM processes.

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000

What will I do as a Company Secretary?

 

  • Participating in various meetings of boards, committees and management bodies; preparing the agendas and minutes of such meetings within strict time periods.
  • Arranging execution of various corporate documents (such as shareholder resolutions, KYC related documents, extracts, forms and applications).
  • Assisting the legal team in ensuring that the boards, committees and management bodies comply with relevant local legislation and regulation
  • Registering any corporate changes on group companies within the relevant company registers and ensuring that the information is always up to date.
  • Updating local registrar of companies to reflect corporate changes.
  • Keeping other company records and files up to date.

How much will I earn?

 

Salaries vary depending on location (country and city) and on the type of employer (e.g. service provider or bank).  The salaries shown here are to be understood in gross per year and in average.

 

Luxembourg

 

Entry-level / Junior: EUR 35,000 – EUR 45,000

Mid-Senior: EUR 45,000 – EUR 55,000

Senior: EUR 55,000 – EUR 65,000