The SEI Luxembourg team (SEI Lux") is seeking a Conducting Officer for Depositary operations. SEI Lux provides administration services to investment funds and their managers, as part of the offerings of SEI's Investment Management Services (IMS") unit. The Conducting Officer will oversee establishment of depositary services for SEI Lux and be responsible for directing and monitoring the SEI Lux Depositary business, with respect to asset verification, cash flow monitoring, and oversight. The Depositary function liaises with Management companies and their Investment Managers, Banking Providers, Counterparties and the SEI fund administration teams, on an ongoing basis. The ideal candidate must be familiar with business and regulatory requirements of Luxembourg's funds industry and have prior experience acting in a senior/head depositary role. This position may be eligible to be performed in a hybrid fashion (in the office 3 or more days/week, and from a home office up to 2 days/week), within any applicable tax and social security limits for cross-border work. This position is expected to require frequent travel, predominantly within Europe. What you will do:
Establish & Lead Depositary Team
- In alignment with IMS management, develop strategic plan for the Depositary function in Luxembourg office, based on knowledge of IMS' solutions & business objectives
- Create, communicate and monitor the vision, goals & objectives for the function in Lux
- Participate in management training and lead the team, providing staff supervision, developing and delivering routine & ad hoc training/assistance, and serving as the first point of escalation
- Collaborate closely, and ensure the team is well-integrated, with IMS Dublin, operationally & solution-wise, for delivery of services to Luxembourg-domiciled funds
- Ensure Luxembourg office's successful adherence to internal and client-specific Depositary SLAs
- Ensure succession planning process is in place and operational within department, through identification and development of high potential personnel
Serve as a Senior Representative of SEI Lux & IMS
- Liaise with local regulator and industry groups on all depositary matters
- Prepare for, present at and participate actively in meetings with clients, sales prospects, local governance structures and the SEI Lux board
- Develop strong relationships with prospects & local centers of influence
- Provide subject matter expertise on both depositary matters in Luxembourg, as well as IMS' related solutions
- Build effective relationships with clients, internal client/prospective client teams, and external providers, including Central Administration, AIFM, Lawyers, Auditors, and Banks
Champion Operational Excellence
What we need from you:
- Establish, maintain and administer SEI Lux Depositary functional procedures to ensure overall quality and timely delivery of IMS' services and solutions
- Ensure operational infrastructure is sufficient for the team to fulfill regulatory-compliance expectations and meet client, legal, regulatory, and investor reporting deliverables and deadlines
- Ensure team are kept abreast of all regulatory updates and processes are updated, as necessary.
- For processes outsourced or supported by other SEI locations, monitor and ensure the plan and organize tasks for the Depositary team to ensure timely deliverables
- Assist in onboarding new funds and work closely with the onboarding team to ensure a smooth transition
- Review constitutional documents, financial statements, prospectus, etc.
- Oversee and participate, as required in Due Diligence visits to Fund Management Companies, Administrators, Custodians
- Assist in funds' audits, particularly with year-end portfolio asset verification confirmations
- Complete ad hoc tasks/projects, as required, including internal committee memberships
- Perform oversight on internal delegates of the Depositary function and review KPI reports
- Escalate any identified risks or issues to Authorized Management or the SEI Lux Board
What we would like from you:
- Third level qualification, preferably a university degree in Business, Accounting, Finance or related field (or equivalent experience)
- 15+ years' experience in the Financial Services industry (and operational services within depositary) in Luxembourg or similar jurisdiction (Ireland, UK, Netherlands, etc.)
- 5+ years managing a team, with a proven record in achieving business goals and retaining and developing talent
- Demonstrated industry expertise, prior experience in a Head of Depositary role
- Knowledge of investment and regulatory issues facing the Luxembourg Fund Industry
- Business-level fluency in English
About SEI® & SEI Lux:
- Flexibility and adaptability to manage a team in a fast-paced, challenging environment
- Excellent communication skills; fluency in foreign language (written and verbal) an advantage
- Strong organizational leadership, interpersonal and influencing skills
- Keen critical thinking, analysis and problem solving skills
- Someone who will embody our SEI Values of courage, integrity, collaboration, inclusion, connection and fun. Please see our website for more information. https://www.seic.com/
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of June 30, 2023, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.
SEI Investments - S.A. (SEI Lux") is SEI's Luxembourg-based European subsidiary, a specialized PSF, authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF") (B257752), providing administrative and transfer agency services to Luxembourg investment funds. SEI is an Equal Opportunity Employer and so much more:
SEI is an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability status, protected veteran status, or any other characteristic protected by law.
We recognize that our people are our most valuable asset and are (literally) invested in your success we know that a healthy, happy and motivated workforce is key to our continued growth. We are focused on ensuring a healthy work-life balance.
We are a technology and asset management company, delivering on our promise of building brave futuresSM-for our clients, our communities, and ourselves. Come build your brave future at SEI. Note:
This position will require a successful background check, including employment verification, education verification and criminal history review, once an offer has been extended and accepted. SEI's competitive advantage:
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a comprehensive care for your physical and mental well-being, strong retirement plan, tuition reimbursement, hybrid working environment, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
We are a technology and asset management company delivering on our promise of building brave futuresSM-for our clients, our communities, and ourselves. Come build your brave future at SEI. SEI is an Equal Opportunity Employer and so much more...
After over 50 years in business, SEI remains a leading global provider of investment processing, investment management, and investment operations solutions. Reflecting our experience within financial services and financial technology our offices encompass an open floor plan and numerous art installations designed to encourage innovation and creativity in our workforce. We recognize that our people are our most valuable asset and that a healthy, happy, and motivated workforce is key to our continued growth. At SEI, we're (literally) invested in your success. We offer our employees paid parental leave, back-up childcare arrangements, paid volunteer days, education assistance and access to thriving employee networks.
SEI is an equal opportunity / affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability status, protected veteran status, or any other characteristic protected by law.