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Asset Management Compliance Consultant - Distribution
July 4, 2018
London, United Kingdom
Main function of the job:
The role is one of two similar roles that each report to and support the Compliance Manager – Distribution who is primarily responsible for the provision of Compliance services in support of the EMEA Distribution team, comprising Sales, Marketing, Client Relations and Client Administration functions. The Compliance Manager – Distribution reports to the EMEA Head of Asset Management Compliance who is responsible for all aspects of compliance within EMEA located Wells Fargo Asset Management entities. The EMEA WFAM Compliance function encompasses all business activity of Wells Fargo Asset Management entities in EMEA, including the portfolio management activities of Wells Fargo Asset Management (International), LLC and ECM Asset Management Ltd., in their capacity as multi-asset and fixed income portfolio managers, and the distribution activities if WFSIL and fund management activities of WFAML. The primary focus of the role will be ensuring that marketing materials and other external communications comply with internal policies and applicable regulation, by reviewing and signing off on those documents where required and by providing business teams that produce those documents with training and guidance on the principles and rules that must be observed in their preparation and use.
Review financial promotions / marketing material regarding asset management products and services destined for dissemination outside of WFAM in accordance with WFAM policies and applicable UK and other EMEA regulations.
Review and approve RFPs and due diligence documents.
Provide guidance and advice to the business on the principles and rules to observe for the preparation of financial promotions / marketing material and their use in EMEA.
Perform risk-based, effective and comprehensive compliance reviews of financial promotions, client reporting and other client communication templates and documents that require such a review.
Enhance the financial promotions approval framework, ensuring the framework remains appropriate in accordance with COBS 4 and MiFID II jurisdictional requirements.
Participate and provide input in the definition of rules to govern the process of review and approval of financial promotions / marketing material, taking into account evolutions in the regulatory landscape and emerging best practices.
Participate when required in projects to refine the process of review and approval of marketing material and the tools used for this purpose, with an eye on maintaining and improving its efficiency and effectiveness.
Provide training to and ensure awareness on the part of internal stakeholders on the principles that must be observed for the preparation of financial promotions / marketing collateral
Support local, EMEA and US compliance teams where required, including by providing input on local documents or the review of global marketing campaigns
Provide management information on the financial promotions approval process and any errors identified in marketing materials
Develop, create and maintain compliance or business policies and procedures as needed.
Support the Compliance Manager –Distribution and EMEA Head of Asset Management Compliance in any other matters required to meet Compliance and organizational objectives and priorities including projects and other matters not related to distribution of asset management products or services
Market Skills and Certifications
Experience of review of financial promotions and other materials designed for the marketing of asset management products preferable including all of UCITS, AIFS, and segregated account capabilities.
Subject matter expert / knowledge of Asset Management products/services and risks associated.
Educated to degree level.
Strong understanding of FCA, and an understanding of European/US regulatory requirements and how these apply to EMEA asset management line of business.
Preferably hold a relevant industry qualification &/or post graduate qualification.
Analytical skills – the candidate must be highly analytical with experience in collecting, analyzing, and synthesizing information on various subjects
Partnership skills- the candidate will be a key partner with the Asset Management business in EMEA and must cultivate and maintain excellent working relationships and credibility with all related business partners including US Compliance and must be viewed as a trusted advisor to key Distribution team members,
Problem solving skills – the candidate must demonstrate the ability to identify key issues, and obtain appropriate information for further analysis, proffering alternative solutions aligned with the Wells Fargo approach.
Teamwork skills – the candidate must be flexible in his/her work style and be able to work collaboratively with stakeholders and colleagues at all levels
Strong PC skills - including Microsoft Excel, Access, Word, PowerPoint and other reporting tools but also able to understand use of technology for improving the regulatory control environment.
Communication - excellent interpersonal, communication (written and presentation) skills are essential with an ability to liaise professionally and with diplomacy across all supported functions.
Flexibility / Initiative – ability to manage multiple requests for information and handle confidential and sensitive information in a professional manner in a fast paced deadline driven environment.
Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.