Depositary Assistant Manager

About Us

U.S. Bank introduced its full depositary services offering in Europe in 2018. The offering supports regulated investment funds domiciled in the EU that are required to appoint a depositary to comply with the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for Collective Investments in Transferable Securities Directive (UCITS). Depositary locations include Ireland and Luxembourg. U.S. Bank Europe DAC trading as U.S. Bank Depositary Services is authorised and supervised by the Central Bank of Ireland and by the C.S.S.F in Luxembourg.

U.S. Bancorp, with over 70,000 employees, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States.

About You

You are a confident depositary professional with a comprehensive understanding of the Irish Financial Services market. You are comfortable working within a robust control framework to support the growth of the Depositary function.

Your knowledge of the Depositary obligations for UCITS and AIFMD funds is comprehensive. You have excellent communication skills, with a proven ability to maintain and enhance client relationships.

You are an individual who wishes to work in the full A- Z of Depositary and to build successful relationships internally with key stakeholders and with colleagues in Risk, Compliance, Legal and Fund Administration teams and external client relationships.

We work to tight deadlines so a methodical approach to planning is a must, with a strong attention to detail.

Overview

The role is based in Ireland, Dublin (City Quay Office) reporting to the Depositary Ireland Lead. Responsibilities include managing to ensure all duties are performed in accordance with the Central Bank of Ireland Regulations and the requirements of each fund’s constitutional documentation.

This entails monitoring each fund’s compliance with prospectus based and regulatory investment restrictions and borrowing limits, as well as performing reviews in respect of the role of the Administrator and appointed global custodians / prime brokers, managers and ManCOs and AIFMs.

Key Responsibilities

· Supports the Management of the Depositary team in delivery of key core tasks.

· Experienced Funds Services individual who wishes to move to the next level within Depositary with a growing business in the market.

· Strong Depositary operational and technical background with key focus on process and controls.

· Acts as key client service contact for Depositary Services clients including leading on new business take on for certain clients and existing relationships.

· Participates in onsite inspections of the Fund Administrator and participates in the diligence reviews of the Managers and the Investment Managers on behalf of the department.

· Support and guide a growing team of supervisors and analysts in accurate and timely review of key tasks such as CFM, Asset Verification, Asset Safekeeping, NAV Oversight, Portfolio Compliance Monitoring review and Performance Fee reviews.

· Interact with colleagues, peers and senior management in a way that ensures the ‘end goal’ is achieved in a productive way.

· Support the workflows of the team – including adherence to all mandatory training requirements and ensuring the area is operating to high standards.

· Act as a day-to-day contact for clients and attend board meetings as required.

· Draft responses and submissions to the CBI –errors, breach reporting and other regulatory reporting as required.

· Train and mentor new staff and involvement in performance discussions and lead 1-1 employee meetings.

Experience Required:

· Minimum 7 years relevant Depositary/Trustee industry experience with strong UCITS/ AIF knowledge with private debt /equity experience a distinct advantage

· Ideally proven track record with people management and training of team members.

· Excellent interpersonal skills with strong relationship building skills and customer centric mindset.

· Ability to multi-task, prioritise work and manage time to maximise efficiency and to meet strict deadlines.

· Strong interest in the regulatory landscape and working in an A-Z environment.

Location expectations

This role requires working from a U.S. Bank location three (3) or more days per week.