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U.S. Bank Branch Compliance Manager/Money Laundering Reporting Officer in Luxembourg, Luxembourg

A leader in the payments industry, Elavon provides end-to-end payment processing solutions and services to more than one million merchants around the world. If you want to make a difference in your life, your community and your world, join us at Elavon. We know our company is only as strong as our people, and we are committed to your professional growth and success. Elavon is part of the U.S. Bank family, a diverse workplace, where we celebrate the individuality of each member of our global team.

Job Description

What is the purpose of this Role?

As Branch Compliance Manager / Money Laundering Reporting Officer, you will be responsible for ongoing compliance oversight and money laundering reporting relating to the Luxembourg Branch. You will partner with all stakeholders to ensure local regulatory, fiduciary and compliance responsibilities are satisfactorily discharged. Additionally, you will represent EFS Luxembourg Branch at regulatory meetings, client sales presentations, and industry events where required.

The role holder will be the primary subject matter expert for our Branch activities and associated regulatory requirements, providing subject matter expertise to the first line of defence (“FLOD”) on the application of local and EU regulation.


Lead and/or participate in the Corporate Compliance programs relating to Luxembourg.

Completion of compliance assessments to a professional standard.

Designated point of contact with local regulatory bodies.

Primary day-to-day contact point for business line regulatory and compliance queries.

Development and implementation of one or more Policies/ Frameworks.

Timely and accurate submissions to regulatory bodies arising from requests/inspections.

Lead Compliance representative for FLOD led projects e.g. business expansion, acquisitions, new products and services etc.

Lead one or more of the initiatives under the Annual Compliance Plan.

Lead the implementation of regulatory change projects in the branch.

Design and delivery of compliance training to business units and/or corporate functions.

Oversight of the day to day execution of Compliance monitoring and testing in the Branch.

Distilling, drafting and presenting complicated issues and regulatory requirements to both internal and external stakeholders, including the drafting of explanatory guidelines/documentation as required.

Production of material for inclusion in Compliance reporting.

Regular attendance and presentations at an EFS Senior Operating Committee.

Other such duties as reasonably requested by Compliance management.

Money Laundering Reporting Officer (“MLRO”)

The job holder will be designated as local MLRO. This will include being authorised by the Commission de Surveillance du Secteur Financier as the AML/CFT Compliance Officer of the Branch. The role holder will be responsible for the anti-money laundering compliance and reporting process consistent with EFS corporate model in addition to local Luxembourg requirements with a matrix reporting line to the EFS Head of Financial Crimes / Group MLRO based in Dublin. Responsibilities will include but not limited to;

Luxembourg governance functions and reporting (AML/CFT Compliance Officer).

Completion of AML risk assessments to a professional standard.

Build out a strong second line oversight for Luxembourg working with the EFCC function;

Enhance the AML program including but not exclusively AML/Economic Sanctions Risk Assessments and Local Country Requirements in accordance with guidelines or manuals issued by the Bank setting out the governance within those programs;

Overseeing that the implementation of the AML Program is consistent with regulatory expectations and industry practice for the Depositary business line;

Oversee contact with regulatory bodies in co-operation with the Elavon/U.S. Bank Regulatory Services teams;

Act as the point of escalation for the branch on AML /Economic Sanction matters

Facilitate, participate and consult in the execution of the Second and Third Line of Defence testing, Risk Assessment & Policy Implementation program and the business change program;

Promote the Financial Crime Compliance culture across the branch through active engagement with management, peers, direct reports, stakeholders, and other employees;

Provide clear guidance and credible challenge to senior business leaders in their implementation of Financial Crime controls;

Represent Depositary Luxembourg and Global Fund Services Luxembourg (where required) with other internal stakeholders promoting best practice and consistency across all jurisdictions including the Third Party AML Program.

Competencies for your Role - how are you expected to behave?

1. Collaboration - Build partnerships and promote a culture of teamwork to drive one U.S. Bank

2. Agility and innovation - Adapt quickly to changing priorities; create new and better ways for the organization to be successful

3. Talent development and engagement - Create a climate where people are motivated to help the organization achieve its objectives

4.Inclusion -Build a culture of equity and inclusion in which diverse ideas, talent and perspectives are welcomed and encouraged

5. Risk - Risk Management Appropriately identify and manage risks, compliance with applicable laws, rules and Regulations, and with Company Policy

6. Ethics and Trust - Ethics and trust - Maintain high ethical standards; gain the confidence and trust of others through honesty, integrity and authenticity

Technical Competencies for your Role - what are you expected to know?

Is collaborative in approach with strong emphasis on delivery and execution

Demonstrates strong oral and written communication skills.

Exhibits a positive ‘can do’ attitude with excellent problem solving skills.

Demonstrates an ability to interact and influence at a senior level.

Demonstrates US Bank core behaviours on an ongoing basis.

Qualifications Required to perform your Role?

Strong previous experience in a risk/compliance role, preferably in a credit institution and/or fund service provider.

Prior experience as MLRO preferred.

Industry certification in AML/Financial Crimes e.g. CAMS would be a plus.

Proven track record of working on own initiative and delivering practical outcomes to a professional standard.

Excellent assurance testing skills with an emphasis on evidence-based outcomes, prioritisation, issue management, and communication

Excellent understanding of the financial services industry, with prior experience engaging with regulators and internal/external auditors preferable.

A relevant third level qualification (e.g. law, business, finance, Diploma in Compliance).

Fluency in English (both verbal and written) essential and ideally fluent in French.

Compliance experience within funds industry and/or experience as an MLRO an advantage.

Demonstrable experience of interaction and influencing at a senior level.

Control Function Disclosure

This role has been identified as a Controlled Function (“CF1”) under the Central Bank of Ireland’s Fitness & Probity Regime. Accordingly, the Company must be satisfied on reasonable grounds that the role holder complies at all times with the Fitness and Probity Standards. Applicants agree to permit the Company (or its agents) to conduct such due diligence as it deems necessary to satisfy itself on reasonable grounds that you comply with the Fitness and Probity Standards and that you will provide the Company with all information and/or documentation relating to your qualifications, experience, employment history, financial soundness and other interests that the Company requests for that purpose.


If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants (https://careers.usbank.com/global/en/disability-accommodations-for-applicants) .

Learn how the way we work at U.S. Bank (https://assets.phenompeople.com/CareerConnectResources/prod/UBNAGLOBAL/documents/Thewaywework-1666895142717.pdf) drives meaningful relationships with our customers and collaboration across the company.

Benefits :

We offer an exciting, fast-paced and diverse working environment with employees of many different nationalities. We provide benefits to help you protect your health and financial security; and give you peace of mind. We also invest in your career growth with development resources that give you the opportunity to stretch and shine.

This is an Elavon posting. Elavon is a part of the U.S. Bank family.