Job Summary:
The Service Delivery Assistant is responsible for supporting the Depositary Services function in meeting its regulatory obligations as depositary (Verwahrstelle) for German UCITS and AIF funds. The role performs and reviews a broad range of regulatory oversight, investment compliance and fund monitoring activities to ensure compliance with applicable legislation, fund documentation and internal control standards.
The role requires the analysis and interpretation of investment restrictions as well as fee payment contracts, investigation of exceptions and potential breaches, engagement with fund management companies (KVGs), and ongoing monitoring of remediation activities. The individual is expected to exercise sound judgement, maintain a robust control environment, identify risks and escalation points, and contribute to the continuous improvement of processes, technology solutions and service delivery outcomes.
In addition to day-to-day operational responsibilities, the role contributes to regulatory change implementation, audit readiness, operational resilience and the enhancement of the Depositary Services control framework.
Job responsibilities:
- Execute depositary checks according to SOP-defined frequency and standards, ensuring timely, complete, and accurate control performance.
- Perform core depositary oversight controls including invoice checks, trade/OTC trade price checks (market conformity), free-of-payment deliveries and non-trade cash flow permissibility checks, overdraft/borrowing monitoring, and third-party time deposit checks (including requirements such as Sperrvermerk and limits where applicable).
- Conduct post-trade investment compliance checks, investigate potential guideline breaches flagged in internal systems/portals, determine root cause, document circumstances and resolution, and resolve exceptions using internally available documentation where possible.
- Escalate genuine violations and unresolved exceptions to the KVG in line with SOP timeframes; request explanations, confirmations, and/or corrective actions to restore compliance.
- Track, maintain, and follow up breaches/items in internal tooling , ensuring monitoring through closure and maintaining an appropriate audit trail.
- Translate investment guidelines into testable, auditable rules by analyzing AAB/BAB documentation, implementing guideline changes in internal systems, and supporting ongoing monitoring.
- Proactively escalate issues, delays, and key risks to the team supervisor and/or Head of Depositary Services Frankfurt.
- Drive process improvements, and provide support for process and technology initiatives; leverage internal AI tools to improve efficiency and quality in BAU delivery.
- Maintain strong adherence to applicable procedures, guidelines, and policies; work effectively within control frameworks (e.g., four-eyes principle and audit trail expectations).
Required qualifications, capabilities, and skills:
- Excellent attention to detail with a commitment to quality, accuracy, and service excellence.
- Strong planning, prioritisation, organisational, and time management skills.
- Proactive, self-motivated, and results-focused, with a strong drive for continuous improvement.
- Ability to identify risks, trends, and opportunities and make data-driven recommendations.
- Experience supporting and driving change initiatives, process improvements, and automation opportunities.
- Strong understanding of risk, control, and governance principles within a regulated environment.
- Excellent communication and stakeholder management skills, with the ability to influence and collaborate across teams and senior levels.
- Strong technology and data skills, including reporting, analytics, and data visualisation tools.
- Fluency in German and English, both written and verbal, is essential.
Preferred qualifications, capabilities, and skills:
Knowledge of Securities Services products is advantageous.