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EMEA Compliance Advisory Markets and Corporate Treasury - Director
The Risk and Compliance division provide risk and compliance services across all BNY Mellon businesses and includes the following teams: Risk Management (market, credit and operational), Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers ongoing risk services and ensures new business risks are identified, reviewed and approved.
Risk Management is organized through Chief Risk Offices for each core business and critical operation. Compliance contributes to ensure BNY Mellon's businesses maintain and embed appropriate policies, procedures and processes to comply with applicable laws, regulations, BNY Mellon policies and ethics.
In EMEA, Compliance is split into four pillars; Advisory, Monitoring, Financial Crime and Regulatory Change and Policy. Advisory provide the second line of defence on a range of conduct compliance issues for each line of business in EMEA, assisting the business through understanding regulatory requirements, applying best practices and building strong and transparent regulatory relationships.
Business lines include: foreign exchange, capital markets (fixed income and equity), securities finance, liquidity services, collateral management and investment management (advisory) group.
Reporting to the EMEA Compliance Advisory Head of Markets and Corporate Treasury Compliance.
Compliance has a key responsibility as a part of the second line defence function in providing advisory, monitoring, training, oversight & challenge to business lines and where relevant partner functions. More generally:
- Ensure business line and business partner functions are provided with accurate and timely advice of regulatory compliance issues; and
- Work with business lines and partner functions to assist them to address the impact of regulatory change(s) and to manage BNY Mellon’s relationship with relevant regulators and seek to embed an compliance culture and conduct model throughout the organisation.
- Assist the Head of Markets and Corporate Treasury Compliance EMEA to manage the EMEA Markets Group and Corporate Treasury Compliance team. This includes providing technical advice on the application of financial services regulation to relevant business lines (excluding CASS, AML, T&D, Sanctions). Market abuse surveillance may be included subject to resolution of the surveillance model to be utilised across Markets Group and Corporate Treasury in EMEA;
- Work with business lines and business partner functions to assist them in dealing with the impact of regulatory change and to develop and implement policies and procedures to accommodate regulatory change;
- Work with other Compliance professionals across the broader EMEA Compliance team to ensure co-ordinated and complete delivery of services and effective communication of relevant information and observations. In addition to develop strong and where required integrated working relationships with other regional compliance officers in the U.S. and APAC;
- Manage and oversee the control process validation to help ensure compliance with relevant regulations;
- Support the business in managing BNY Mellon’s relationship with relevant regulators, including overseeing the provision of information to the regulators and responding to reports issued by regulators;
- Assist the Head of Markets and Corporate Treasury Compliance EMEA to manage staff within team. To the extent possible ensure that team members remain motivated, have clear paths of growth and development identified, minimise attrition and seek to deepen the skills and knowledge base of the team and raise their respective profiles;
- Ensure representation of compliance related issues and provide appropriate challenge at relevant internal/external events where acting as alternate to the Head of Markets and Corporate Treasury Compliance EMEA including, but not limited to, CaML Board meetings and the CaML Operating Committee, EMEA Markets Group Business Risk Committee;
- Subject to adequate staffing oversee the EMEA Global Markets and Corporate Treasury Compliance group’s involvement in business led projects, ensuring timely and robust input and challenge by team members; and
- Represent Compliance and providing appropriate challenge at relevant internal/external clients meetings where required.
- Provide technical compliance support to business and corporate projects as required, including those relating to regional governance, acquisitions/divestitures, remuneration, and new tax initiatives etc.
- Contribute to the effective governance of the entities operating within the EMEA region. Play an active role in offering constructive challenge and helping to support relevant governance venues. Facilitate and encourage informed and constructive debate on key issues and ensure that members of fora, committees, respective Boards and the Head of Compliance EMEA receive relevant management information in an accurate, timely and clear manner;
- Help to ensure that a strong governance and compliance culture is embedded within the region, that issues are escalated and cascaded appropriately and that key risks are identified, discussed and mitigated; and
- Build a good understanding of the EMEA governance framework, including escalation requirements, and ensure there is clear, appropriate and evidenced apportionment of responsibilities amongst staff members for whom the job holder has management responsibility.
Generic Staff Responsibilities
- Comply with all BNY Mellon corporate policies and procedures, including HR policies and procedures, applicable to BNY Mellon;
- Alert management including the Head of Markets and Corporate Treasury Compliance EMEA, Head of Compliance EMEA and the EMEA Chief Risk Officer (as appropriate) immediately of any significant changes to business risks and internal control effectiveness;
- Notify management and/or the Head of Compliance EMEA immediately on discovery of any material actual or anticipated regulatory breach; and
- Comply with all Security and Health & Safety policies and procedures operating within the business.
Shared Values and Core Competencies
Client Focus – demonstrate a clear understanding of importance of effective customer service, internally and externally;
Trust - evidence a high standards of integrity and openness;
Teamwork – demonstrate an ability to work effectively as a member of a team, a collaborative style, and understanding of the value of diversity; and
“Outperformance” – evidence the ability to exceed expectations of others.
Global Acumen - Developing and incorporating an understanding of the competitive global business environment as well as an awareness of economic, ethical, social and political trends that impact the BNY Mellon’s regional and global strategy;
Establishing Strategic Direction - Establishing and committing to a long-range course of action to accomplish a long-range goal or vision after analyzing factual information and assumptions taking into consideration resources, constraints and organizational values;
Developing Strategic Relationships - Using appropriate interpersonal styles and communication methods to influence, collaborate and build effective relationships with business and functional partners (e.g., peers, external vendors and alliance partners);
Building Organisational Talent - Attracting, developing and retaining talented individuals. Providing timely coaching, guidance and feedback to help others maximize their potential and meet key accountabilities. Using appropriate methods and interpersonal styles to develop, motivate and guide a team toward successful outcomes and attainment of business objectives;
Change Leadership - Continuously seeking (or encouraging others to seek) opportunities for different and innovative approaches to addressing organizational problems and opportunities;
Client Orientation – where relevant assist in cultivating strategic client relationships and ensuring that the client perspective is the driving force behind all value-added business activities; and
Driving Execution - Translating strategy into operational reality. Breaking down strategic priorities or business initiatives into key tasks and identifying accountabilities. Aligning communication, people, culture, processes, resources and systems to ensure effective implementation and delivery of required results.
The successful candidate will ideally have a background with at least ten (10) years in a financial services compliance or regulatory advisory role. The candidate will have a thorough knowledge and understanding of relevant E.U. and UK law and regulation relating to the provision of services and infrastructure requirements for firms in the wholesale financial markets. It would be highly advantageous if the candidate has a working knowledge of the application of U.S. law and regulation to wholesale banking activities in the E.U.
Desired technical and practical experience will include:
- Interpretation and guidance in respect of statutes, directives, regulations and regulatory codes and guidance (collectively “prudential and conduct regulation”);
- Providing advice to various levels of management, business lines and functional partners in relation to U.K. and E.U. prudential and conduct regulation (including but not limited to, MiFID, FCA Handbook of Rules and Guidance, PRA Handbook, MAR, PSD2, SFTR, CRD, BRRD, EMIR, PRIIPS, DGSD, and Basel IV, BIS BCBS requirements, Global FX Code and the UK Money Market Code requirements) and regulatory supervisory expectations and trends;
- Preparation of communications to regulators in relation to prudential and conduct matters including applications for waivers, mergers, capital reductions, notifications and similar;
- Assistance to business lines, operational and risk control areas in relation to conduct matters arising in respect of regulatory change programmes including compliance impact and gap analyses;
- Providing subject matter expertise in relation to the operationalisation of prudential and conduct requirements including but not limited to the preparation of policies and procedures to ensure that appropriate arrangements, systems and controls in place in relation to prudential and conduct requirements;
- Supporting company responses to attestation requests, supervisory visits (SREPs, ad hoc etc) or enforcement actions and advising on remediation programmes;
- Engagement in policy, advocacy and interpretation efforts through representation and/or membership of , industry bodies and peer working groups (AGC, AFME, ISDA, ICMA etc), drafting of comment letters in response to white paper and proposed regulations;
- Proven ability to engage with and influence senior management and the business line through membership of committees and forum legal support for regulatory change and implementation projects;
- Provide leadership and knowledge transfer to other team members in relation to technical matters, specific projects and deliverables and issues; and
- Experience of regulatory conduct related issues and frameworks.
Opening Date: 28th September 2017
Closing Date: 26th October 2017
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
Risk and Compliance provide risk and compliance services across all BNY Mellon businesses. Organizationally, Risk and Compliance includes the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Risk Management is organized through Chief Risk Offices for each core business and critical operation. Risk managers provide shared support to BNY Mellon for operational risk services for Global Corporate Trust, Depositary Receipts, Treasury Services and Global Operations in EMEA. Compliance helps ensure BNY Mellon's businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethics. This is accomplished through business- and business partner-specific teams of professionals, under centralized global management.
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: United Kingdom-Greater London-London
Internal Jobcode: 50341
Organization: Compliance & Ethics-HR06015
Requisition Number: 1713557