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BlackRock is one of the world's preeminent asset management firms and a premier provider of global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world's capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
Financial Crime Compliance, Financial Crime Lead for Luxembourg
Legal and Compliance at BlackRock
BlackRock's Global Compliance Department protects BlackRock's reputation and provides advice to the business focused on ensuring the protection of our client's best interests. The department is a dynamic environment with the team focused on understanding evolving business strategy, challenging and advising on the impact of regulation in our business, with the objective of:
Actively participating in business decisions to champion our clients' interests and assist the business in translating Compliance into their daily work and decision making;
Putting client interests at the center of everything we do;
Cultivating and enhancing BlackRock's compliance culture;
Providing thought leadership on the impact and implementation of regulation to our business and to the market; and
Developing and fostering excellence within the Compliance team
Role Description:The role is to provide anti-money laundering and counter terrorist financing ("AML/CTF") coverage for the business in Luxembourg. There will also be an opportunity to work across other financial crime risk areas, including sanctions, bribery and corruption and fraud, and knowledge or experience of these will be an advantage. The primary purpose of the role, however, is to implement an AML/CTF programme to meet the relevant requirements for the local funds, the UCITS Management Company and boards. Subject matter expertise in EU and Luxembourg AML/CTF programmes is a requirement. The role will involve working with a number of financial crime specialists in the London office and the team in Luxembourg to manage BlackRock's significant presence in Luxembourg, which includes retail and alternative fund platforms. The role is located in Luxembourg.
The candidate will report into the EMEA Head of Financial Crime and will be responsible for delivering, for Luxembourg, a financial crime strategy and framework in relation to all four financial crime risks articulated above, which is consistent with the global framework. The successful candidate acting as AML officer responsible for controls will work closely with the Luxembourg Compliance Conducting Officer and have reporting responsibilities into boards of directors for entities domiciled in Luxembourg.
Enhance the framework in relation to managing the risk of AML/CTF in Blackrock's Luxembourg entity (Management Company), including enhancing local policy requirements and procedures and ensuring that they are embedded within business area in the region.
Coordinate with the Financial Crime colleagues as necessary on the Financial Crime risk framework priorities and oversee required regulatory change management processes
Execute annual AML Risk Assessments
Oversee relevant audits, regulatory visits and examinations for financial crime in Luxembourg.
Develop key metrics to measure the success of the program and execute governance and management reporting.
Provide clear technical advice, guidance and training to the management company, conducting officers and boards.
Establish a monitoring program to ensure continuous review and monitoring of the financial crime risks associated with Transfer Agents and Fund Distribution Partners, including around Alternative funds.
Act as the escalation point of contact for complex transactions and high risk client onboardings.
Providing advice related to PEPs approval.
Partner with Legal to assist in Fund oversight and compliance with AML/CTF requirements.
Ensure the active identification, response and/or escalation of risks as appropriate
Prepare and present ad-hoc and regular reports to fund boards and senior management, as well for the Global Head of Financial Crime
Form strong relationships with key individuals within the business, compliance and operations.
Provide support to the Luxembourg CCO
Although there is an existing framework in place, a dedicated financial crime role is new and as such there is some capacity for the individual to shape the role according to the needs of the compliance framework supporting a dynamic and growing global business. The individual will gain an appreciation of BlackRock's operations in Europe and our global approach to managing regulatory and compliance risks in the EU. This role will have significant interaction with senior Business, Compliance and Legal stakeholders.
The successful candidate should have 8+ years of experience in Financial Crime Compliance risk management at other financial institutions or consulting firms; experience working as Financial Crime specialist in asset management firms is a strong advantage but is not essential.
Considerable knowledge of Financial Crime regulations, financial services, and regulatory trends that impact the Asset Management industry, its products and/or its underlying institutional and corporate client base
The successful candidate should be experienced in policy and procedure writing and be confident in performing risk assessments and creating a monitoring program.
A strong understanding of the requirements of a Luxembourg AML program and EU regulatory requirements, and the role of transfer agents, distributors and other third parties is necessary.
Strong working knowledge of AML and Sanctions; an understanding of Fraud and Anti-Bribery and Corruption is a plus.
Proven ability to enhance and manage a compliance program
Experience managing or participating in supervisory exams would be an advantage.
Have a proactive approach to business issues, identifying areas of improvement and enhancement including the automation of processes
Excellent communication, judgment and business partnership skills, including working as part of a global team in a fast-paced environment.
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of December 31, 2019, the firm managed approximately $7.43 trillion in assets on behalfof investors worldwide.
For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock |
BlackRock is proud to be an Equal Opportunity and Affirmative Action Employer. We evaluate qualified applicants without regard to race, color, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law.
BlackRock will consider for e mployment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.