Role/ Department:

TheLuxembourg DepositaryRegulatoryLead willberesponsible forthe assessment, governanceand management of depositaryrelated regulatory matterspertaining toNTGS SElocations,including Luxembourg(principally), the Netherlands, Norway,Swedenand Switzerland.The role entailsadvising onsupervisorymatters pertaining todepositary servicesatEU and national level, maintaining structured regulatory horizon scanning, coordinating impact assessments and implementation activity, supporting newand existingclientsand product types,engaging with regulatorsand client legal representatives, supporting CSSF inspections and remediation activity, advising on the depositary control framework, promoting consistent regulatory interpretation across locations,ensuringNTGS isappropriately representedatindustry level,and assisting inrelevantprojects and initiatives.

The key responsibilities of the role include:

REGULATORY OVERSIGHT

• Support the LuxembourgDepositary Head in ensuring business processes, procedures and control documentation remain consistent with CSSF guidance, ESMA Guidelines and EU regulatory fund framework developments relevant to depositary and clientimpactedrequirements.

• Maintainstructured horizon scanning for depositary-relevant EU, CSSF and local market regulatory developments, assessing impact,prioritisingchange and communicating implications to relevant stakeholders.

• Lead or coordinate regulatory impact assessments, gap analyses, implementation planning, actiontrackingandevidencing ofcompletion for depositary-relevant regulatory change.

• Support preparation for CSSF inspections, thematic reviews, regulatorymeetingsand information requests, including coordination of responses and supporting evidence.

• Coordinate responses to regulatory findings, observations or injunctions relating to depositary services, including tracking remediation actions through to closure.

• Advise onthe adequacy of the depositary control framework, including safekeeping, ownership verification, cash-flow monitoring, oversightobligationsand depositary liability standards.

• Promote consistent interpretation and implementation of depositary regulatory obligations across NTGS SE locations,identifyingand documenting local regulatory divergence whereappropriate

• Prepare and present regulatory development, issue and remediation updates to management, depositary governance, risk,complianceand legal forums.

• Draft and review industry notices, consultation responses, guidance, NCA, Commission and ESMA correspondence or reporting from a depositary perspective.

• Review publications and standards of national and international industry and regulatory bodies, including ABBL, ALFI, AFME, ETDF, AGC,ESMAand IOSCO.

• Attend and, whereappropriate, represent Northern Trust in relevant Luxembourg and European industry forums, working groups and events to support thought leadership,advocacyand awareness of emerging regulatory expectations.

CLIENT MANAGEMENT

• Analyse and resolve client regulatoryreferrals from the Depositary Services teams,includingassessment of fund documentation, operating models, contractual arrangementsand depositary service implications.

• In the context of regulatory referrals, review and assess fund documentation from a depositary perspective, including prospectuses, supplements, risk management processes, valuation policies, operatingmemorandaand service descriptions;

• Review depositary provisions in client documentation and support negotiation or interpretation of provisions where regulatory input isrequired;

• Assess regulatory risk arising from deviations from standard operating, contractual or delegation models, including third-party oversight arrangements;

• Participate in client and legal adviser meetings or calls requiring depositary regulatoryexpertise;

• Prepare escalations to internal Legal on client matters as necessary, together with the EMEA Head and local Heads of Depositary;

• Draft instructions to external legal firms, together withinternalLegal, to obtain legal advice for Northern Trust on depositary service issues.

NEW BUSINESS SUPPORT

• Provide technical and regulatory support to Sales, RelationshipManagementand New Business Development in relation to depositary service proposals and client opportunities.

• Analysenew product launches, fund structures, investmentstrategiesand asset classes todetermineapplicable depositary obligations and operational readiness requirements.

• Review complex structures, including alternative assets, private markets, derivatives, fund-of-funds, SPVs and non-standard custody or safekeeping models, todeterminethe extent of depositary service requirements.

• Assess depositary implications of new operating models and service approaches, including delegation arrangements and third-party dependencies.

• Assistin preparing updates, recommendations and assessments of new clients,productsand structures for Depositary governance forums.

ADDITIONALRESPONSIBILITIES

• Work with second line partners, primarily Compliance, Risk and Legal, on upcoming regulatory change to ensure interpretation, operational readiness and governance reporting areappropriate

• Support internal audit, compliance monitoring and assurance reviews relating to depositary regulatory obligations, including validation of management actions and control enhancements.

• Providesubject-matterinput into RCSA, operational risk events, control issueassessmentsand management action plans where regulatory interpretation is relevant.

• Assistwith the development,reviewand enhancement of procedures in new locations or in support of new structures,productsand asset classes.

• Develop and deliver training to Depositary teams on regulatory developments, CSSF expectations and practical application of depositary obligations.

• Maintain internal guidance notes, regulatory interpretation records, issuelogsand knowledge materials to support consistent application across Luxembourg and EMEA Depositary teams.

• Identifyrisks, issues,dependenciesand overdue actions, escalating appropriately to management and governance forums with clear options and recommendations.

• Provide regulatory support and analysis in the context of depositary-related contentious,litigiousordisputematters.

Skills/Qualifications:

• Significant experiencein depositary, fund regulation, legal, compliance or regulatory advisory roles within Luxembourg or EU asset servicing.

• Strong technical knowledge of UCITS, AIFMD, CSSF expectations and ESMA guidance relevant to depositary services, including safekeeping, ownership verification, cash monitoring, oversightdutiesand liability standards.

• Experience supporting regulatory inspections, remediationprogrammes, governancereportingand senior stakeholder engagement.

• Ability to interpret complexregulationand translate it into practical operating procedures, control requirements, businessrequirementsand management actions.

• Strong written communication skills, including preparation of regulatory briefings, governance papers, client-facingexplanationsand senior management updates.

• Proven ability to work across legal, compliance, risk, operations, product, sales, relationshipmanagementand client-facing teams.

• Experience engaging with external counsel, industry bodies,regulatorsor client legal advisers would beadvantageous