Director - Investment Risk

About Waystone 

Waystone is a leading asset-servicing solutions provider of institutional governance, administration, risk and compliance services to financial institutions. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone helps our clients structure, operate and grow through our expertise, innovation and digitisation, backed by the operational scale to support global expansion. 

Summary: The Director role will lead the development and implementation of large-scale projects to support Waystone’s European operations. The role’s core responsibilities are the risk management of various fund structures that are managed by Waystone and the management of the Investment Risk team.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Is prepared to undertake a PCF role if required and fulfil the responsibilities of this position such as reporting to the ManCo board, participating on the New Business Forum, engaging with investment managers, presenting to fund boards and communicating with the regulator as required.

Is accountable for coordinating the portion of fund onboarding conducted by the Investment Risk team including an assessment of asset eligibility, the interpretation of regulations, the finalization of the investment risk portions of funds’ Prospectus and Supplement docs; risk assessment of the fund; updating of the RMP as required and sign-off of risk and compliance limits in Bloomberg.

Ensure the delivery of risk oversight reporting for all funds where Waystone acts as Management Company. Ensure that all breaches of regulatory and fund specific limits are accurately recorded in the logs of the Management Company and remediated promptly by the investment manager. Report and explain breaches to the board as required.

Focus on the interpretation of the outputs from the risk system and processes and presentation of same to the ManCo. Liaise with Compliance, Enterprise Risk, Senior Management and the Board as required concerning these outputs.

Support the SFDR disclosure reviews and analyze the ESG methodology used by the Investment Manager.

Utilise the resources of the Investment Risk team, including systems and people, to collate data, prepare reports and provide initial analysis to senior management.

Foster a positive team environment and ensure open communication. Develop a repository of reference resources to increase the knowledge of the team and improve the ability of the team to oversee and monitor risk. Promote a culture of learning and knowledge sharing at team meetings.

Promote and encourage a risk conscious environment across the firm.

Establish standards of service for clients and promote a high quality of service that is pursued by team members.

Lead the harmonization of risk systems across the firm and its group, working with colleagues in different departments and locations as well as with third party providers.

Work closely with the Horizon Scanning forum to ensure the implementation of new regulations and the development of any additional reporting that may be required.

Become a leading member of at least one of the firm's committees (Risk, Investment and Valuation).

Interact with Senior Management and the Board to provide insight and advice about funds' risk exposures. Contribute to any requests made by the Regulator to the firm by actively communicating with Compliance and Senior Management.

Act as the main point of escalation for the funds' depositaries and auditors.

Act as the main point of contact for external counsel in matters pertaining to Fund Risk.

Attend presentations to (potential) clients when required to discuss risk, including sustainability risks when required and explain the role of the Investment Risk function.

Requirements:

8 years+ relevant experience in compliance, risk or consulting roles in the financial sector with proven record of advancement.

Knowledge of, and previous exposure to, UCITS and AIFs risk reporting.

Demonstrable strong knowledge of risk identification, risk assessment, and risk management frameworks.

Experience and knowledge of the Irish Funds industry is essential. Experience of the Luxembourg funds industry is an advantage.

Excellent interpersonal and communication skills, both written and verbal.

Excellent project management skills, and the ability to balance competing deadlines and stakeholders

Education:

An internationally recognised professional qualification or master’s degree or significant experience in risk, compliance or a similar control function.