Depositary Specialist

Quintet Private Bank; Luxemburg; On-site; EUR 70,000 - 110,000; Full time

Job summary

Quintet Private Bank Luxembourg is seeking a Depositary Specialist to manage complex activities across safekeeping, recordkeeping, cash flow monitoring and oversight. You will ensure regulatory compliance and lead control activities for diverse fund structures and asset classes.

The role requires 3–5 years in a similar Depositary function, with strong communication and problem-solving skills to sustain a high standard of operational risk management.

Qualifications

• Masters or professional qualification in a related field.
• Strong understanding of fund structures and depositary duties.
• Experience with regulatory oversight and risk management.

Responsibilities

• Manage complex Depositary activities and assessments, including Safekeeping, Recordkeeping, Cash Flow Monitoring, Oversight and Alternative Assets structures.
• Ensure compliance with applicable Depositary regulations and internal governance requirements across all Depositary activities and asset classes.
• Perform advanced monitoring, oversight and control activities relating to Depositary obligations, delegates, fund structures and alternative asset investments.
• Prepare, review and challenge internal and external reporting relating to Depositary activities, controls, risks and regulatory obligations.
• Act as a point of contact for Depositary-related matters and contribute to the resolution of escalated operational, regulatory and stakeholder issues.
• Contribute to change initiatives and business analysis activities, including requirements gathering and implementation of solutions.
• Support the identification, assessment and resolution of operational risks, control weaknesses and incidents.
• Share expertise and coach colleagues to develop a versatile Depositary team.

Skills

Attention to Detail

Critical Thinking

Adaptability

Client-Centric Mindset

Decision Making

Communication Skills

Stakeholder Management

Problem Solving

Education

Masters / Professional qualification

Job description

Quintet Private Bank is a leading private bank in the wealth management sector; we are committed to our clients and their families, and pride ourselves on our personalised service based on a deep understanding of what clients want to achieve.We are a bank headquartered in Luxembourg, with branches in Belgium, Denmark, Germany, Netherlands and a subsidiary in the UK. We are supervised by the CSSF with an ambition to stay true to our purpose to be the most trusted fiduciary of family wealth.

When you join Quintet you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programmes.

Acting as a trusted partner for Investment Funds and their stakeholders, Quintet Luxembourg offers a comprehensive range of Depositary services across various asset classes and fund structures.

The Depositary Specialist contributes to operational excellence by managing complex activities across Run, Change and Risk & Control dimensions. The role requires a strong understanding of Depositary responsibilities, including Safekeeping, Recordkeeping, Cash Flow Monitoring, Oversight and Alternative Assets monitoring, and actively contributes to process improvements, business transformation initiatives and the development of a versatile Depositary organisation.

Key Accountabilities

• Manage complex Depositary activities and assessments, including Safekeeping, Recordkeeping, Cash Flow Monitoring, Oversight and Alternative Assets structures, taking into consideration the nature, scale and complexity of funds and operating model
• Ensure compliance with applicable Depositary regulations and internal governance requirements across all Depositary activities and asset classes
• Perform advanced monitoring, oversight and control activities relating to Depositary obligations, delegates, fund structures and alternative asset investments, ensuring appropriate investigation and follow-up of identified issues
• Prepare, review and challenge internal and external reporting relating to Depositary activities, controls, risks and regulatory obligations
• Act as a point of contact for Depositary-related matters and contribute to the resolution of escalated operational, regulatory and stakeholder issues
• Contribute to change initiatives and business analysis activities, including the identification of business needs, process improvements, automation opportunities, requirements gathering, impact assessments and implementation of sustainable solutions
• Support the identification, assessment and resolution of operational risks, control weaknesses and incidents, including root cause analysis, remediation planning and control framework enhancements
• Share expertise, provide guidance to colleagues and contribute to the development of a versatile and continuously improving Depositary team through coaching, knowledge transfer and cross-training initiatives

Knowledge and Experience

• Further professional Education (Masters / Professional qualification)
• Between 3 and 5 years experience in a similar role

Attributes and Qualities

• Attention to Detail
• Critical Thinking & Problem Solving
• Adaptability & Learning Agility
• Client-Centric Mindset
• Decision Making

Technical Skills

• Strong knowledge of Luxembourg Investment Fund legislation and Depositary responsibilities
• Strong understanding of Depositary duties, including Safekeeping, Recordkeeping, Cash Flow Monitoring, Oversight and Alternative Assets monitoring requirements
• Strong understanding of fund structures, financial instruments and fund service provider operating models
• Experience participating in projects, process improvements, business analysis or change initiatives
• Strong communication, stakeholder management and problem-solving skills