Head of Client Asset Oversight and MiFID Advisory Lead

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions, enabling the communities we support to grow and succeed in the right ways, all more confidently and more often—that’s what we call the courage to thrive.   We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive. Try new things, learn new skills and discover what you excel at—all from Day One.

As a wholly owned subsidiary of U.S. Bank, Elavon is committed to building the platforms and ecosystems that help over 1.5 million customers around the world to achieve their financial goals—no matter what they need. From transaction processing to customer service, to driving innovation and launching new products, we’re building a range of tailored payment solutions powered by the latest technology. As part of our team, you can explore what motivates and energizes your career goals: partnering with our customers, our communities, and each other.

We actively uphold transparent and fair hiring practices that support individual opportunity, inclusive culture, and career mobility across all levels of our organisation.

We offer meaningful opportunities for growth, a culture of inclusion, and a strong commitment to transparency and integrity in everything we do.

Job Description

The role holder is responsible for leading the oversight of U.S. Bank Europe DAC (“USBE”) compliance with the Irish Client Asset Requirements (“CAR”) and relevant MiFID requirements. The role has two core and complementary areas of responsibility:

• Oversight of compliance with CAR, including the effectiveness of the associated governance, control and assurance framework; and
• The provision of authoritative advice, guidance, oversight and credible challenge in relation to MiFID activities and the associated regulatory obligations and control environment.

The role holder will be expected to demonstrate substantial technical expertise and practical experience across both CAR and MiFID and to provide effective regulatory leadership, interpretation and challenge to relevant businesses and support functions.

Fitness & Probity

This role is a ‘pre-approved controlled function’ as defined by the Central Bank Reform Act 2010 Regulations 2011.

Accountabilities:

A. Client Asset Requirements

• Lead the oversight of compliance with CAR, including the governance, control, reconciliation, record-keeping, safeguarding and regulatory reporting arrangements supporting compliance.
• Provide authoritative interpretation of applicable client asset legislation, regulations, guidance and regulatory expectations.
• Oversee the identification, assessment, escalation and remediation of client asset risks, control weaknesses and regulatory issues.
• Provide credible challenge regarding the design and operating effectiveness of the Client Asset Management Plan (“CAMP”) and associated policies, procedures, controls and governance arrangements.
• Support senior management and relevant governance committees in understanding material client asset risks, developments, breaches and remediation activity.
• Maintain effective engagement with relevant first-line businesses and support functions.

B. MiFID oversight and advisory responsibilities

• Act as the senior subject-matter expert in relation to MiFID activities and regulatory obligations, providing advice, guidance, oversight and credible challenge to relevant businesses and support functions.
• Assess the regulatory and control implications of new or changing MiFID activities, products, services, operating models and client arrangements.
• Provide interpretation and practical guidance regarding MiFID requirements, including requirements relevant to client categorisation, client instructions, conduct of business, safeguarding of client assets, conflicts of interest, inducements, disclosures, governance and record-keeping, as applicable to USBE’s activities.
• Support the identification, assessment and implementation of regulatory change affecting MiFID activities.
• Escalate material MiFID risks, control weaknesses or potential regulatory breaches through the appropriate governance channels.
• Provide informed input into regulatory engagements, internal governance papers and assurance activity concerning MiFID matters.

Competencies Required:

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

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

Technical Competencies Required:

• Expert knowledge of CAR and associated Central Bank of Ireland expectations.
• Expert knowledge of MiFID II and relevant delegated legislation, regulatory guidance and supervisory expectations.
• Understanding of how client asset requirements and MiFID conduct obligations interact across relevant products, services and operating models.
• Ability to interpret complex regulatory requirements and develop clear, practical and risk-based guidance.
• Strong understanding of governance, risk assessment, control design, compliance monitoring, issue management and regulatory remediation.
• Ability to exercise independent judgement and provide constructive, evidence-based challenge.
• Experience in a Prescribed Control Function (“PCF”) role in a compliance, risk or internal controls role is beneficial.

Qualifications & Experience Required:

Minimum 10 years’ experience in Financial Services and has managed compliance, risk or internal control teams.

Third level qualification, with a Diploma in Compliance (or similar) beneficial.

Controlled Function:

This role has been identified as a Prescribed Pre-Approval Controlled Function (“PCF53”) 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 Standard.

Accessibility

We are committed to providing an inclusive and accessible recruitment experience. If you need adjustments at any stage of the application or hiring process, please contact your recruiter for guidance and support.

Total Rewards

U.S. Bank is committed to fair, equitable, and transparent compensation practices in line with local regulatory and legal requirements. Our total rewards approach is designed to attract, retain, and support top talent while ensuring equal pay for work of equal value.

We offer a market-competitive compensation package that includes:

• Clearly defined salary ranges aligned with industry benchmarks and internal equity standards.

• Performance-based incentives for eligible employees (as defined by relevant plan rules), awarded through transparent, objective criteria that recognize both individual and company performance.

• Inclusive equitable benefits that are accessible to all employees and focused around our 3 main pillars of financial wellbeing, health & wellness).

• Continuous development opportunities including training, education support, and career progression pathways based on inclusive and transparent criteria.

• Employee recognition programs that celebrate achievements and milestones for all.

We regularly review our compensation and benefits to ensure they remain competitive, inclusive, and responsive to employee needs and market trends. Further details of the compensation package will be provided upon application.

We encourage candidates to explore the full value of our offer, including monetary and non-monetary benefits, at Employee benefits and development | U.S. Bank | Elavon.

Closing Date

Posting may be closed earlier due to high volume of applicants.

We aim to provide timely updates throughout the process and encourage early applications to ensure consideration.