Over the past decades, the landscape of the investment fund industry has been reshaping itself, not only adapting to the evolving needs and expectations of investors and distributors but also adopting technological disruptors. Along with that shift have come changes in the ways in which transfer agents operate, organise, manage risk, implement regulation and interact with other stakeholders of the investment funds value chain.
In close collaboration with PwC's subject matter experts, PwC's Academy has designed an impactful multilayer training curriculum for junior and more experienced transfer agency staff, managers and executives alike, who wish to efficiently develop further in their role or look forward to the upcoming trends. Similarly, it shall help other stakeholders working in the investment funds business acquire a good understanding of the transfer agency business.
Throughout the course we will explore the following questions:
- What are the roles and responsibilities of the transfer agent?
- Who are the different stakeholders and what is the regulatory environment of the investment funds business?
- What are the risks inherent to the transfer agent role and how do we monitor them?
- What are the market trends and the disrupting technological solutions for TAs?
To answer your various questions, our curriculum offers a learning experience over 2 levels: Foundation, Knowledge & Competence and Fit & Proper
The knowledge and competence level provides specific pathways for UCITS and AIFs.
Transfer Agent curriculum
2 levels: Foundation, Knowledge & Competence and Fit & Proper
Foundation
This Foundation level serves as an introduction, covering fundamental concepts and principles related to our topic.
Participants at this level will gain a solid understanding of the basics to form a strong foundation for more advanced learning.
Please select the theme at first and then the building block that answers your specific needs, and click on the links to get further details about each block's content.
This training pack is designed around 4 complementary building blocks:
- Investment funds - Introduction and market data (1h). Investment funds are one of the major industries in Luxembourg. With this introductory training we will take a first step in the funds world by detailing some key concepts that can be developed further in our more specific training modules.
- Investment funds - Actors, roles and responsibilities (1h). This course will cover the main actors involved in the investment funds value chain.
- Investment funds - Operational aspects (1h). This course will cover operational aspects of funds through a fund accounting prism.
- Investment funds - Distribution platforms (1h). This course will cover the role and tasks of a fund distribution platform.
This training pack is designed around 4 complementary building blocks:
- AML - Follow the money (e-learning) (1h) is an immersive digital case-study designed by PwC’s Academy and PwC’s subject matter experts to support the acquisition and assessment of essential AML knowledge and competence while answering the AML training requirements as set by the law. It is offered in different versions, focusing either on the Luxembourg regulatory framework (available in French or English) or on the European regulations (available in English only).
- Automatic exchange of information (FATCA and CRS) - Basic principles (3h) will focus on how to comply with FATCA and CRS, as implemented in Luxembourg, in terms of on-boarding, due diligence and reporting obligations, with a specific focus on investment fund related aspects.
- GDPR essentials (e-learning) (1h) is made up of small bite-sized courses, with 12 engaging videos which break down larger, more complex topics into interactive modules for learners to gain a unique learning experience. The course covers personal data processing, regulation, data subject rights and data breaches.
- MiFID II: the essentials (2h) will use the client experience timeline as a basis to enhance the understanding of what concretely happens and how MiFID II impacts the daily responsibilities of every employee.
Knowledge & competence
This stage delves deeper into the subject matter providing participants with sound knowledge and practical skills necessary for their day-to-day tasks.
Please select the theme at first and then the building block that answers your specific needs and click on the links to get further details about each block's content.
This training pack is designed around 3 complementary building blocks:
- Tax aspects of investors onboarding: DAC6 to DAC8, FATCA/CRS and AML (2h). This course will help participants determine when interactions between DAC6, AML, withholding tax and FATCA/CRS should be considered in terms of process efficiency and risk management.
- Regulatory framework (UCITS and AIFs) (3h). This module will allow participants to have a general view of the regulations applicable to investment funds and their service providers in Luxembourg.
- GDPR hot topics in Luxembourg and Europe (1h). This module will allow participants to understand GDPR essentials, risks, enforcement (including impacts on AI), cloud migration, with a focus on Europe and Luxembourg.
This training pack is designed around 3 complementary building blocks:
- Transfer Agent: roles and responsibilities (1h30). This module will allow participants to understand the different transfer agency models, background of the TA specific industry, top players and general structure of such a company.
- Transfer Agent: operations and support teams (3h). This module will allow participants to understand in detail the role, responsibilities and tasks of each TA department from operational to support functions.
- Operational risks in TA (1h30). This module will allow participants to have a good understanding of operational risk linked to transfer agency activities and its causes.
- Duties and formalism in TA standard operations for AIFs (3h30) will help participants understand the main operational processes of a transfer agent; the AIF's lifecycle; the transfer agency's ecosystem; and the different types of transfer agent's operations.
Fit & proper
This level is addressed to board members and executive members ensuring they are "fit and proper" to handle responsibilities and make efficient strategic decisions.
Please click on the links to get further details about each building block's contents.
This training pack is designed around 2 complementary building blocks:
- Transfer Agent & Distributed Ledger Technology (1h): this training focuses on distributed ledger, one of the most transformative technologies since the breakthrough of the internet.
- Transfer Agency - The way ahead (1h): this training focuses on the future of the Transfer Agency (TA) business.
