Investment Compliance Director

We’re hiring an Investment Compliance Director in Luxembourg to provide second line compliance oversight and advisory for private markets strategies, with a particular focus on ELTIF. The role partners closely with Investment Teams, Product, Distribution, Legal, Risk, Operations and key service providers to enable growth while maintaining a strong, risk-based control environment aligned to CSSF expectations and group standards.

Primary responsibilities for this role include (but are not limited to):

• Act as a senior 2nd line advisor on evergreen structures requirements across the product lifecycle (structuring, governance, disclosures, distribution set-up, ongoing obligations).
• Collaborate with different stakeholders within the firm with early engagement, clear risk assessments, and documented compliance sign-off where required.
• Investment compliance oversight & monitoring.
• Oversee the design and effectiveness of the investment compliance framework for private markets (risk assessments, controls, testing/monitoring approach, issue management).
• Challenge and review first line processes relating to: Investment restrictions and guideline compliance (as applicable to private assets), Asset eligibility and balancing of liquid and illiquid pockets, Liquidity management and other related requirements, Conflicts of interest and related-party transactions.
• Plan and execute 2nd line monitoring/testing; document results, agree remediation actions with owners, and track to closure.
• Monitor regulatory developments (ELTIF, AIFMD, MiFID, SFDR where relevant) and translate into impact assessments and implementation plans.
• Prepare concise materials for governance forums (Compliance/Conduct committees, risk committees, fund boards where relevant), including clear escalations and decision points.
• Coordinate effectively with partners, external counsel, depositaries, administrators, and other service providers to ensure consistent interpretation and execution.
• Operate as a senior member of the Chief Control Office: coach colleagues, contribute to standards, and help scale best practices.
• Role-model ICG values: collaboration, ownership/self-starting mindset, intellectual curiosity, and constructive challenge.

Key Requirements/Qualifications:

• Experience in 2nd line compliance within asset management, with strong exposure to private markets (private equity, private credit, infrastructure, real assets).
• Deep, practical knowledge of ELTIF requirements and how they translate into operating model and controls.
• Strong working knowledge of AIFMD and MiFID II (especially product governance/distribution). SFDR familiarity is a plus (depending on product scope).
• Experience designing and executing risk-based monitoring/testing and managing issues/remediation with senior stakeholders.
• Strong judgement and communication skills: able to simplify complexity, write clear papers, and influence outcomes.
• Fluency in English required; other European language is a plus.

What success looks like (first 6–12 months):

• Trusted 2nd line partner for private markets/ELTIF with strong credibility across Investments, Product and Distribution.
• Clear, consistent compliance approach to ELTIF and private markets distribution/product governance.
• Strong monitoring plan executed with high-quality reporting and timely remediation.
• Improved stakeholder engagement “upstream” (fewer late surprises; better documented decisions).

Inclusion is one of ICG’s key values and we are committed to creating an equitable and inclusive workplace for everyone. By welcoming different perspectives, we strengthen ICG’s performance, enrich decision-making and contribute to better outcomes for our clients, colleagues, and the markets we serve. Accordingly, our recruitment processes provide equal employment opportunities to all applicants and employees, regardless of age, ethnicity, disability, sex, gender, sexual orientation, religion, or any other characteristic protected by local law. We are equally committed to delivering an inclusive and accessible candidate experience. If you require information in an alternative format, additional time for assessments, an adjusted interview schedule, or any other support during the recruitment process, please let us know.