Compliance officer duties (for ManCos): the essentials

Compliance officers of management companies

As Chief Compliance Officer, member of the compliance function or conducting officer, or responsible for compliance within a management company, professionals are identified as a key function holder and part of the 2nd line of defence, and therefore a key component of the company's internal control framework.

Their tasks and responsibilities are broad and ever-growing in terms of the number of regulatory requirements to cover. That being said, it is key to have a clear view on what is expected from both a regulatory and internal perspective.

It is essential to position themselves in the organisation, knowing the reporting lines, the interaction with the different stakeholders, the tools and methodologies available to perform their day-to-day tasks and controls. This will allow them to focus on the business as usual activities in terms of performing controls and being the advisor for management and for their peers.

Due to our expertise concerning the tasks and responsibilities of the compliance functions, not only from a regulatory point of view, but also from a practical perspective, we would like to share our experience and to enable participants to be ready for their day-to-day role.

Our training is focused on:

• presenting the position of the compliance function within the internal control framework;
• the roles and responsibilities of the compliance function within the organisation and its interactions with other functions;
• main regulatory topics and areas with a focus on key controls;
• presenting compliance tools and methodology.

At the end of this training, participants will be able to:

• understand their roles as compliance officers within the organisation;
• have a comprehensive view of their day-to-day activities, including the main controls and tools;
• build a compliance risk assessment and a compliance monitoring plan.

The training will cover the compliance duties around the following aspects:

• Overview of the internal governance framework and the internal controls
• Presentation of the main components of your role, responsibilities and interactions with the different stakeholders
• A brief presentation of the compliance tools and methodology
• The main regulatory topics covered by the function with examples of the key controls to be implemented

An attendance certificate will be sent to participants

This training is coordinated by Nicole Schadeck, Director at PwC Luxembourg.

Nicole is a director with over 15 years of experience in the fund and banking industry, specialising in process analysis, risk management, and compliance risk frameworks. She has led large project teams at PwC and client organisations, notably managing compliance and internal audit support for a top Luxembourg asset servicer and directing the design and implementation of compliance controls for a leading Swiss private bank. Nicole’s expertise includes project management, fund structures, regulatory compliance, risk management, and automation of compliance controls. Her key client projects involve AML risk assessments, KYC remediations, and compliance training, supported by her leadership in complex onboarding processes and robust AML/KYC documentation review.