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Head of Compliance Luxembourg Branch and Money Laundering Reporting Officer, Vice President, Hybrid

State Street

State Street is a leading provider of financial services to institutional investors around the world.

Who we are looking for

With immediate effect we are looking for senior compliance professional to lead the State Street Bank International GmbH Luxembourg Branch Compliance Advisory team to ensure compliance with regulatory, contractual, corporate and local regulatory requirements and in the execution and supervision of the Compliance Oversight Program. The Head of Compliance is also in charge of AML coverage with respect to Luxembourg laws and regulations (MLRO). This position is perfect for an individual who has strong expertise in compliance, business control or audit functions within the Financial Services sector, who possesses strong attention to detail and coordination capabilities, and who thrives in a fast-paced environment. It is a role from which a successful candidate may develop a career further in Compliance or in other risk and control areas.

Why this role is important to us

Corporate Compliance supports the Board of Directors, senior management of State Street Corporation, and its affiliates in their responsibility to comply with laws and regulations applicable to State Street’s global business activities and functions. The Compliance Department is an independent control function part of the Second Line of Defense (SLOD).

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As Head of Compliance Luxembourg Branch and MLRO, you will

  • Manage a team of Compliance Advisors in SSBI GmbH Luxembourg, ensuring consistency and effectiveness in the design and implementation of the Compliance Oversight Program
  • Advice, challenge and support senior management in order to comply with rules, regulations, policies and procedures
  • Work in conjunction with other Compliance team members as well as business partners and external parties as needed to resolve issues and ensure accuracy of accountabilities, and adherence to all policies/regulations/guidelines
  • Maintain and continuously develop knowledge around core regulatory requirements, products of business units, applicable financial markets, industry trends and key technology in use by the business units and keep up to date with latest developments in regards to regulatory changes and corporate policies and procedures
  • Support the management and compliance team in the development, implementation, reviews and revisions of Compliance manuals, policies and procedures
  • Liaise with their Compliance colleagues all over the globe to share and complete deliverables
  • Ensure adequate oversight of the Compliance Oversight Program including active participation to the Compliance Risk Assessment (CRA), testing design and execution
  • Work with the business to ensure that all identified remedial action items are closed within a timely manner with adequate documentation as evidence of closure
  • Contribute to Compliance Management Reporting as required
  • Provide support with day to day compliance tasks
  • Ensure that regulatory reporting is sent on a timely manner
  • Provide ad-hoc compliance and regulatory advice and support to the business and other compliance and controls and testing teams
  • Update Compliance policies and procedures when required
  • Develop and maintain good working relationships with supported Business Units and Corporate Areas (including other Corporate Compliance Teams)
  • Review processes and procedures to ensure they are current and up to date and communicate enhancements which would make the process more effective
  • Manage Second Line Of Defense responsible for AML activities and ensure strong AML control framework

What we value

These skills will help you succeed in this role

  • Good organizational skills; must be able to prioritize multiple requests and escalate issues in a timely manner
  • Strong organizational, communication, interpersonal and analytical skills; to be able to inform and influence both orally and in writing
  • Management skills
  • Demonstrated capability to work under pressure with attention to detail, strong problem solving skills and ability to adequately prioritize tasks
  • Pro-active, can-do attitude

Education & Preferred Qualifications

  • MA/ MSc/ BA/ BS (or equivalent experience) in a related field
  • Current or recent compliance, legal, risk or audit experience gained within financial services is required (minimum about 10 years’ of experience)
  • Good knowledge of the Luxembourgish regulatory environment (banking and/ or investment services, AML/ FT regulation is required)
  • General systems proficiency: Excel, PowerPoint, Word
  • Fluency in French and English

We offer

  • Medical Insurance Policy (Medicis /Le Foyer and DKV)
  • Voluntary additional Health Insurance – Preferential Rates
  • Short Term Disability Coverage
  • Eye Care Benefits
  • Flu Vaccinations
  • Holiday allowance: 26 days of annual leave + 8.5 rest days
  • Group Insurance – Assurance Dommages et RC Divers et Accidents
  • Group Pension Scheme
  • Gym Scheme – Preferential Rates
  • Meal Vouchers (Sodexo)
  • Discount Card/ Scheme (Sympass/Emresa)
  • Preferred Banking Arrangements

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

To apply for the job click here

Head of Compliance Luxembourg Branch and Money Laundering Reporting Officer, Vice President, Hybrid

To apply for the job click here

Contact us

State Street

State Street is a leading provider of financial services to institutional investors around the world.

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