Main Job Purpose

The primary role is to act as CO, MLCO and MLRO for BNPP client fund entities, ensuring they adhere to regulatory codes and legislation, reporting to fund boards of directors on a quarterly basis and providing advisory services on regulatory and compliance matters to boards, deal teams, administration teams and clients. 

The jobholder will be responsible for liaising with the BNPP Compliance and Risk teams to ensure that they keep up to date with current compliance issues and follow the BNPP methodologies where possible.

The job holder will be responsible for managing a team of 2 direct reports in the Jersey office and also for providing technical support and guidance to our Guernsey based Fund Compliance Officer. 

Manager Responsibilities 

• Supervision of activities of direct reports under your management.
• Provide technical support to team.
• Oversee training and development of team.
• Monitor quality standards – identify & implement improvements.
• Ensure all deadlines for tasks are achieved with agreed timescales.
• Employ Management Principals in the development of direct reports
• Attendance and presentation of appropriate reports at internal BNPP committees as required, such as the Internal Control Committee and Manco Meetings.
• Senior technical input on fund regulatory and compliance matters to management, deal teams and clients
• Actively contribute towards on-going Corporate Services Department team initiatives.
• Provide team members with career development opportunities via enhanced delegation and coaching by:
  1. Assisting with group initiatives to provide a more structured framework for career development 
  2. Hold regular 1-2-1 sessions with each direct report (minimum monthly)
  3. Hold regular team meeting (minimum monthly)

• Actively contribute to department team meetings and initiatives such as the weekly pinch point review and encourage open discussion on forthcoming activities and resourcing requirements.
• Promote an open feedback culture, with more regular and informal feedback sessions.
• Help promote the development of a clear team ethic within the Corporate Service Department. 
• Promote clear visibility on the services provided by the Corporate Service Department and the services we provide by:

1. Contributing to client presentations and associated literature, 
2. Supporting presentations to staff on our roles and services. 
3. Developing Fund Compliance AML training for relevant BNPP staff in close consultation with the Head of Compliance Securities Services.

• Assist with the adoption of a more commercial approach by:

1. Contributing to the analysis of client tariffs, ensuring that ad hoc activities are captured correctly
2. Helping with headcount budget reviews ensuring time costs for the services we offer match with the revenues received and identifying any clear discrepancies. Utilise time sheets to assist with analysis.
3. Working with the Head of Corporate Services ensure that new business is priced accurately and that any existing discrepancies are reviewed.

• Ensure team consistently collate overtime activity and adhere to time sheet processes to better track our time allocation / client activity.
• Enhance Corporate Service offering by working with the Head of Corporate Services and wider department to review potential complementary services.

Board appointed CO/MLCO/MLRO responsibilities to client fund entities.

• Carryout the office of named CO, MLCO and MLRO with the local regulators.
• Provide guidance to the relevant directors on the proper application and interpretation of laws, regulations and polices.
• Provide the directors with guidance in the development, implementation and maintenance of policies, procedures and risk frameworks to cover regulated activities.
• Implement and maintain a compliance monitoring programme that provides the directors with reasonable assurance that key regulatory risks are being adequately managed and mitigated.
• Provide regular and accurate reports to the board of directors, on regulatory and compliance matters.
• Attend and present at quarterly board meetings the CO, MLCO and MLRO report to the boards.
• Identify, assess and manage regulatory risk, in line with BNPP practices and policies, whilst considering client specific requirements. 
• Advise clients on best approach with the regulator and co-ordinate all communications with the JFSC for fund entities and their managers.
• Maintain relevant registers for recording breaches, complaints, gifts, training etc.
• Assist in the development of a compliance culture.
• To manage Money-laundering risks in line with local legislation.
• To formalise and maintain a Money-laundering Regulatory matrix.
• Ensure AML training is conducted for all Board Directors.
• Identify Money-laundering risk areas; and
• Develop adequate policies and procedures.
• Provide support in production and upkeep of Fund Client Compliance manuals and business risk assessments
• Review of documents and accounts issued by client entity for compliance with local regulations.
• Site visits, where necessary to work closely with client (promoter) compliance function where available.
• Participate in Special projects
• Manage budgets as appropriate
• Comply with all applicable legal, regulatory and Group's internal Compliance requirements

Technical Skills - Essential Requirements

• Comprehensive knowledge of Jersey fund laws and regulations.
• Working knowledge of Guernsey regulatory position.
• Knowledge of Private Equity structures and Recognized Funds.
• Working knowledge of all fund types with priority to Listed, Expert, Unregulated and COBO structures.
• Knowledge of BNPP Policies & Procedures

Qualifications & Industry Experience - Essential Requirements

• Proven track record in a financial service managerial role
• 5 years compliance experience
• Computer literacy across a variety of applications
• Appropriate qualification in order to receive no objection from the JFSC when applying for the CO/MLCO/MLRO roles (e.g. ICA Diploma)

Preferred Requirements

Manager Conduct Responsibilities:

In a controlled risk environment and in alignment with the global strategy, managers must ensure full compliance with Conduct policies:

• Ensure Conduct governance is fully operational, as per standard guidelines: Conduct is a standard item at the agenda of management or team meetings, Conduct dilemma is well managed and documented, the escalation process is in place, Conduct responsibilities are delegated throughout the perimeter in charge.
• Be aware of the Conduct risks arising in the perimeter in charge and make sure that appropriate mitigating processes and controls are in place.
• Ensure Conduct principles are fully embedded in processes including people management processes (appraisal, promotion, mobility, recruitment, …).
• Develop understanding of Conduct principles by ensuring staff participation to awareness & training sessions.

Regulatory Requirements

Minimum 35 hours CPD p.a.

 To obtain JFSC no objection to act as a key person

• Is the employee a “Principal Person”*? No 
• Is the employee a “Key Person”*? Yes 
• Is the employee a “Senior Manager”*? No 

*according to the meanings given under Article 1(1) of the Financial Services Commission (Jersey) Law 19981 as supplemented by the Commission’s Notice designating “senior management functions” dated 12 January 2023 and effective 13 March 2023.