The posting
Depositary Manager The Depositary Manager will be responsible for servicing a portfolio of real estate, private equity and other alternative investment funds and for leading the day-to-day delivery of the Depositary team allocated to those clients.Working alongside the other Depositary Manager and reporting to the Depositary Conducting Officer, the Manager will line-manage Senior Associates and oversee the teams beneath them, taking responsibility for client delivery, work allocation, capacity, technical and client escalations, and the development and performance of their people.The successful candidate will combine strong Luxembourg Depositary experience with active people-management capability. They will be expected to remain sufficiently close to the technical detail to provide guidance and challenge, while ensuring work is appropriately delegated and performed and reviewed at the correct level.The role is client-facing and will involve regular interaction with CFOs, financial controllers, legal counsel, fund administrators, AIFMs, banks, auditors and other professional advisers.Key Responsibilities Client delivery and technical oversight• Manage Depositary services for a portfolio of existing and new clients investing principally in real estate, private equity and other alternative assets.• Take responsibility for client deliverables and deadlines across the Manager's portfolio, ensuring work is appropriately planned, allocated, reviewed and completed.• Maintain oversight of current-period and prior-period completion, review queues and other key delivery indicators, ensuring agreed service standards and KPIs are met.• Ensure work is undertaken and reviewed at the appropriate grade, with effective delegation through Senior Associates, Associates and Analysts.• Act as the principal escalation point within the portfolio for complex operational and technical matters, escalating to the Depositary Conducting Officer where appropriate.• Oversee the preparation and review of key-event assessments, including subscriptions, drawdowns, acquisitions, disposals, distributions, terminations and other material fund events.• Ensure cash-flow monitoring and reconciliations are properly performed and reviewed by the team.• Oversee safekeeping and verification-of-ownership activities, including ensuring appropriate records and asset inventories are maintained.• Ensure ongoing monitoring of funds and fund managers is completed appropriately and in accordance with applicable fund documentation, policies and regulatory requirements.• Review Depositary controls and reports produced by the team to ensure accuracy, completeness and adherence to applicable procedures and professional standards.• Maintain a strong understanding of AIFMD and the Luxembourg regulatory framework governing Depositary activity.Team management and delivery• Line-manage the Senior Associates within the Manager's portfolio, holding them accountable for client delivery, work allocation, team performance and development.• Own workload allocation and capacity planning within the portfolio, ensuring work is distributed appropriately and emerging delivery risks are identified early.• Establish a consistent rhythm of planning, review and follow-through so that the team has clear expectations around what is due, what has been completed and where intervention is required.• Actively coach and develop team members, providing practical guidance on both technical work and professional development.• Identify whether delivery or performance issues arise from technical capability, workload, organisation, time management or other factors and take appropriate action.• Provide regular, constructive feedback and contribute actively to appraisal, promotion and development processes.• Address underperformance promptly and constructively.• Create an environment in which colleagues have appropriate autonomy while remaining accountable for delivery, quality and client service.• Support the continued development of the team structure and ensure responsibilities are delegated effectively as individuals progress through the organisation.Client relationship management• Build and maintain high-quality relationships with clients and their advisers through regular face-to-face, telephone and written communication.• Attend and lead client meetings and present Depositary reports at client Board meetings where appropriate.• Work proactively with clients to resolve issues and obtain outstanding information required for timely delivery.• Handle senior client escalations pragmatically and professionally, working with the Depositary Conducting Officer where appropriate.• Support the efficient onboarding of new business and transition of new clients into the day-to-day operating model.Operational and commercial management• Maintain oversight of billing schedules and support timely and accurate invoicing for the Manager's client portfolio.• Support the management of outstanding debtors, credit notes and other relevant commercial matters.• Monitor team capacity and workload and identify where additional resource, reallocation or management intervention is required.• Use management information to identify bottlenecks, overdue work, capacity issues and emerging operational risks.• Review Depositary procedures and checklists and propose practical improvements where these would strengthen quality, consistency or efficiency.• Support the adoption of appropriate technology, automation and improved working practices across the Depositary team.Wider responsibilities• Develop strong working relationships with relevant internal stakeholders and other Langham Hall teams.• Support the Depositary Conducting Officer in maintaining appropriate operational controls and management information.• Contribute to the continued development of the Luxembourg Depositary business and its people.• Perform other reasonable duties consistent with the seniority and responsibilities of the role.Skills, Knowledge and Expertise Key requirements• Strong practical knowledge and experience of Luxembourg Depositary services, covering private equity, real estate and other alternative investment funds.• Good knowledge and understanding of AIFMD and the Luxembourg regulatory framework applicable to Depositary activities.• Ability to understand and investigate complex fund transactions through the review of accounting records, financial information, legal documentation and supporting evidence.• Demonstrable experience managing teams and client portfolios within a professional-services, fund-services or similar regulated environment.• Strong people-management capability, including coaching, delegation, performance management and development of junior and mid-level colleagues.• Ability to manage multiple workstreams and deadlines while maintaining clear oversight of capacity, priorities and quality.• Strong client-management skills and the credibility to deal confidently with senior client stakeholders and professional advisers.• Ability to solve practical problems, exercise sound judgement and provide clear guidance to more junior staff.• Excellent attention to detail combined with an ability to maintain an overview of the wider delivery position.• Strong written and verbal communication skills.• Comfortable working in a growing business where roles and responsibilities continue to develop.Experience and qualifications• Substantial, hands-on experience in a Luxembourg AIF depositary role• Previous experience of directly managing people and/or leading teams and client portfolios.• Experience gained within a recognised professional-services, Depositary, fund-services or similar organisation would be particularly attractive.• Previous audit or accounting experience may be advantageous but is not essential.Langu [...]
