About Vela Asset Management AS
Vela Asset Management AS (“Vela”) is an Estonian-based Alternative Investment Fund Manager (AIFM) and UCITS Management Company operating a third-party management company platform for European and international investment funds.
Vela provides high-quality governance, risk management, compliance, valuation oversight, and regulatory reporting services to UCITS and AIF structures. While established in Estonia, the Company operates on a fully cross-border basis, primarily managing Luxembourg-domiciled funds and working closely with leading European service providers and regulators.
Role Purpose
This senior role combines the responsibilities of Head of Compliance, Money Laundering Reporting Officer (MLRO), and Data Protection Oversight (DP Oversight), applied on a proportional and independent basis in line with regulatory expectations.
The position is a second-line oversight and advisory role, with no involvement in operational processing, investor onboarding, or fund administration. The role reports directly to the Management Board and has independent access to the Supervisory Board, with full authority to escalate matters without limitation.
The role includes oversight of compliance and AML/CFT frameworks for Estonian and Luxembourg-domiciled funds and active coordination with the Estonian Financial Supervision Authority (EFSRA), Luxembourg service providers, depositaries, auditors, and - where applicable - the CSSF.
Key Responsibilities
- Monitor regulatory developments and assess their impact on the Company and managed funds
- Review, update, and oversee the implementation of internal policies and procedures in line with applicable regulations
- Perform compliance and AML/CFT oversight of delegated service providers
- Assess AML escalations, including potential suspicious transactions, and ensure appropriate reporting to competent authorities
- Prepare regular (monthly) and ad-hoc reports for the Management Board and Supervisory Board
- Act as a primary contact point for regulators (EFSRA and CSSF) and coordinate responses to regulatory inquiries
- Advise the Management Board and independently report to the Supervisory Board on compliance, AML/CFT, and data protection matters (including oversight of external DPO provider, where applicable)
- Maintain compliance documentation, registers, and control evidence in line with regulatory expectations
Mandatory requirements
- Minimum 5 years of proven experience in Compliance and AML/CFT
- Experience within an AIFM, UCITS Management Company, or regulated financial services environment
- Eligibility to act as MLRO under Estonian law
- Strong understanding of delegation-based operating models
- Excellent command of English, both written and spoken
- Ability to meet fit and proper requirements under the Estonian Money Laundering and Terrorist Financing Prevention Act, including sufficient seniority, availability, and independence
Additional assets
- Experience acting as or supporting a Data Protection Officer (DPO)
- Prior interaction with the Estonian Financial Supervision Authority
- Exposure to Luxembourg fund structures and service provider ecosystems
- Relevant professional certifications (e.g. AML, Compliance, GDPR)
- Native or fluent Estonian
What We Offer
- A senior, high-impact governance role in an international fund management platform
- A flexible and proportionate working arrangement (full-time or part-time)
- Collaboration with an experienced and highly professional international team
- Direct exposure to cross-border regulatory frameworks and European fund structures
- The opportunity to grow with the Company and shape a developing international AIFM and UCITS platform
Application
Please submit your CV and motivation letter in English to:
Andia Shtepani
CEO, Vela Asset Management AS
📧 ast@artasadvisory.com
