Head of FCC Oversight - Europe

Benefits

Additional Information

At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns. Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent. We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role. Purpose: Within a dynamic team of 13 persons, the successful candidate will lead the FCC Oversight function as Head of FCC Oversight - Europe managing 2 persons directly. This is an important role within MGL's Second Line of Defence which is wide in scope and nature. The candidate will report to the Conducting Officer for Compliance and FCC and effectively act as Deputy RC for the Super Manco and funds under management. The role requires effective anticipation, identification, and mitigation of financial crime risks across MGL and its funds' activities, whilst providing clear, pragmatic guidance to senior management and the business in line with Luxembourg and EU regulatory requirements. The role is responsible for oversight of the full FCC operating model across funds, investors, assets, distribution networks, and delegated activities, ensuring a consistent and risk-based approach across the product and the AIFM lifecycle. This is a key role within M&G Luxembourg S.A. and the Financial Crime Compliance Team in particular. Key Responsibilities for this role: The role is responsible for overseeing all FCC Operations activities from a second line of defence perspective, including: Effective oversight of appointed service providers and delegates, including investment managers. This includes conducting both initial and ongoing due diligence, managing the due diligence cycle, and performing on-site reviews where required. The role also acts as a Second Line escalation point for Financial Crime Compliance (FCC) matters, including those arising from account onboarding and ongoing monitoring. Ongoing monitoring and reporting of appointed service providers and delegates, ensuring the regular receipt and robust assessment of KPIs. The role also acts as a Second Line FCC escalation point for name screening alerts, account opening escalations and any high-risk cases, while leading regular oversight meetings with delegates and ensuring timely follow-up on agreed actions. Ensure that AML/CFT and KYC queries received from both internal and external stakeholders are addressed in a timely and pragmatic manner, understanding business priorities and ensuring compliance with regulatory requirements by applying creative and sound judgment. Lead initial and ongoing FCC risk assessments of new or existing investment funds under MGL management by analysing product structures, key features, jurisdictions, and risk exposures. Ensure that financial crime risks are identified at launch and effectively monitored throughout the fund lifecycle, and represent the FCC function in local and Group new product approval forums. Initial and ongoing due diligence on the AIFM direct counterparts, ensuring robust due diligence is performed / maintained. Support MGL's first-line FCC team in the onboarding and ongoing due diligence of distributors, intermediaries, and segregated mandates. This includes handling escalated queries, ensuring appropriate FCC contractual arrangements are in place, and representing the FCC function in relevant governance forums Ensure that the FCC Oversight team delivers accurate and timely FCC data for management information and reporting to internal local and Group governance forums and committees, including MGL and Fund Boards. Attend and actively contribute to relevant MGL and Group meetings, providing clear, risk-based insights and challenge where appropriate, and support external regulatory filings to Luxembourg and other relevant authorities. Support the overall Luxembourg FCC function by acting as a contact person for 1st line teams, driving enhancements to processes and controls. Contribute to the design of the Financial Crime Compliance Monitoring Plan and ensure that relevant FCC operational controls are effectively executed in line with the Luxembourg FCC Monitoring framework Co-lead the ongoing internal and external AML audits and the AML trainings for MGL staff. Coordinate the collection and compilation of large amounts of data required to comply with regulatory reporting requirements (CSSF/ AMLA/ EU authorities etc). Represent the Lux FCC function within various group and regional forums and contribute to any key interna

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