About
Ferenc Elekes
Founder of Dobosi Consulting. Twenty years in investment compliance, most of it inside the functions this work is designed to help.
I have spent my career in investment compliance at asset managers, largely as a contractor, which means I have seen how a lot of different firms do the same job. Some of it well. Much of it in spreadsheets.
The technical side is the enterprise investment management platforms and automated compliance engines that large asset managers run: rule design and coding, guideline interpretation, breach handling, monitoring set-up, and the long tail of documentation and evidence that sits around all of it. UCITS is the regime I know best, alongside AIFMD and the segregated mandate work that never fits neatly into either.
My background before compliance is law. That has been more useful than it sounds. Most of what a compliance function actually does is read documents carefully, work out what they oblige you to do, and be able to show your reasoning afterwards. AI is unusually good at the first part of that and cannot be trusted with the third, which is roughly the thesis this business is built on.
I started Dobosi Consulting because I kept watching capable teams lose weeks to work that did not need a person doing it, while the parts that genuinely needed judgment got squeezed. The tooling to fix that became good enough somewhere around 2024. What has been missing is anyone who understands both the tooling and what a breach file has to contain.
Experience, in outline
- Second-line monitoring
- UCITS ranges, alternative funds and segregated mandates. Daily exception review, investigation and escalation.
- Guideline interpretation
- Reading restrictions out of IMAs, prospectus terms, fund supplements, side letters and board resolutions, and deciding what is actually monitorable.
- Rule design and coding
- Building, testing and remediating pre- and post-trade rule sets on the enterprise platforms large asset managers run. Including the unglamorous half: regression testing, and finding rules coded from superseded documents.
- Breach handling
- Investigation, materiality assessment, breach files, remediation tracking and reporting into compliance committees.
- Guideline registers
- Design, population and annual review. Mapping every restriction to how it is monitored, or recording why it is not.
- Regulatory change
- Assessing what a change to a regime means for existing monitoring coverage, and what has to be rebuilt.
- Migration and remediation
- Moving monitoring from one platform to another, and repairing rule sets that had drifted from the documents they came from.
- Regimes
- UCITS, AIFMD, MiFID II.
- Other
- Legal background. English and Hungarian. Based in London, working with clients across the UK and Europe.
What I bring that a technology firm does not
- I have written the guideline register, not just seen one
- I know what an auditor asks for, and what happens when it is not there
- I know why the check you are describing as "quick" actually takes two days
- I will tell you when a process should not be automated
What Dobosi Consulting is not
Dobosi Consulting is an independent consultancy. The work is process design, documentation and workflow automation — it is not legal advice, it is not regulatory advice, and it does not replace your own compliance judgment. Dobosi Consulting is not a partner, reseller or authorised implementer of any software vendor.
If you want to know whether this applies to your function, the fastest way to find out is a call.
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