BNY Mellon Careers

Group Mgr, AML/Prevention/KYC

Liverpool, United Kingdom
Compliance


Job Description

Synopsis of Role

• The role of MLRO reports into the Chief Compliance Officer, with responsibility for managing the anti-money laundering and financial crime functions for Pershing Limited and Pershing Securities Limited (together “Pershing”).  The primary responsibilities of the role are confirming that Pershing has controls and procedures in place to comply with the FCA’s statutory objective of reducing financial crime and ensuring that Pershing complies with Bank of New York Mellon (“BNYM”) policies.  This covers:

 Money Laundering Prevention    

 Terrorist Financing Prevention

 Embargo and Sanction Monitoring

 Bribery and Corruption Prevention

 Fraud Prevention and Investigation

 

Key Responsibilities

Primary Responsibilities

 Manages compliance efforts for Pershing as they relate to complex regulatory and policy requirements, program and project development for the above noted areas

 Analyses existing and proposed legislation, regulatory announcements, and industry practices, and helps businesses develop and implement procedures to meet these requirements

Strategic and Corporate Responsibilities

 To participate in the development and implementation of the business strategy in the UK and Europe within the specific remit for areas of responsibility

 To confirm the firm meets with the corporate requirements of the group as well as the strategic requirements of the Pershing within the specific remit for areas of responsibility

 To participate as a member of the boards and committees outlined in Table 1

 To provide input into business strategy and execute agreed business strategy including liaising with clients as appropriate

Control Environment and Operational Responsibilities

 To confirm

o that the areas of responsibility of the role are running efficiently and effectively and in a controlled manner, including reflecting appropriate apportionment of responsibilities, segregation of duties and controls to prevent conflicts of interest

o provide assurance that services provided to PSIL and PCI are delivered in accordance with Pershing UK's obligations to PSIL and PCI and in a manner which allows PSIL and PCI to demonstrate compliance with their regulatory obligations as appropriate

 To confirm that direct reports ensure that the key controls of the firm are identified, managed and monitored, in order to mitigate any risks to the organisation

 To confirm that there is appropriate and adequate management information to facilitate a review of the key performance and risk (and compliance with applicable rules and regulations) including providing timely, relevant and accurate management information to assist in decision making, organisational and functional monitoring - management information includes historic records, and pricing, costing and budgeting information

 To receive internal reports, undertake the internal review of all suspicions and determine if such suspicions have substance and require disclosure to the National Crime Agency (“NCA”) (as the Nominated Officer under the Money Laundering Regulations), the Financial Conduct Authority (FCA) or BNY Mellon (through the 72 hour SAR policy)

 To obtain and use national and international findings on money laundering and terrorist financing to inform the work of the department

 To prepare annual reports for Pershing UK’s management on compliance with the Money Laundering Regulations

 To confirm that appropriate policies are developed across the firm to meet regulatory and control requirements including BNY Mellon requirements

 To confirm that the Business Continuity and Disaster Recovery arrangements for all areas under the responsibility of this role are maintained

 To maintain an overview of the company's books and records in respect of areas of responsibility;

 To confirm that security is upheld at all times and that the secure access is monitored

 Maintain up to date departmental operational procedures

Department Management and other Responsibilities

 To manage staff from a task and pastoral perspective

 To confirm that appropriately trained personnel are in place to execute the departmental roles

 To propose and contribute to the promotion prospects of staff falling under the specific responsibility of this role

 To work with staff to identify training and development needs

 To act as sponsor for business initiatives from an operational perspective

 To confirm no discrimination is allowed within the Organisation

 Other duties as required

Required Technical Knowledge

 To maintain an understanding of the industry from a regulatory perspective

 To maintain an up to date knowledge of the FCA, Central Bank of Ireland (CBI) and Jersey Financial Services Authority (JFSC) rules and regulations, as well as a working knowledge of market practices and Exchange rules

 To maintain an understanding of technical/functional knowledge as required for the role

 To maintain an understanding of leadership and management theories and practices.

Regulatory

• To oversee the Anti-Money Laundering functions adherence to the regulators’ (the FCA, CBI and JFSC) rules

• To undertake the role of the FCA Controlled Function outlined in Table 1 and fulfil the general responsibilities accompanying that function under the relevant FCA's SUP 10A requirements

• To undertake business and management conduct in accordance with the statements of principle for approved persons 1-7 as set out in FCA's Statements of Principle and Code for Approved Persons (APER)

• To uphold the 11 FCA Principles for business and to actively encourage a culture of compliance throughout the firm

Generic Staff Responsibilities

• Comply with all BNY Mellon and Pershing corporate policies and procedures, including HR policies and procedures, applicable to Pershing

• Alert management immediately of any significant changes to business risks and internal control effectiveness

• Notify management and/or the Chief Compliance Officer immediately on discovery of any material regulatory breach

• Comply with all Security and Health & Safety policies and procedures operating within the business

Qualifications

MyCareer Path Description and Position Summary, and Primary Responsibilities

Researches, prepares and reviews basic and complex KYC profiles for clients that vary in risk and complexity.  

Manages multiple teams of AML/KYC/Prevention staff assigned to research, prepare and review basic and complex client profiles for clients that vary in risk and complexity.  

Manages multiple teams of staff involved in preparing and reviewing client profiles for clients and monitoring global issues, risks and events to determine impact on clients' risk level.

Manages and provides recommendations to the review framework to help ensure that the process, from preparation to approval, is equipped with the appropriate checks and balances to ensure accuracy.

Serves as the escalation point for high risk and complex issues regarding client profiles, keeping leadership apprised of potential areas of concern.

Collaborates with internal stakeholders from other functions to help coordinate AML/KYC/Prevention procedures and policies in overall compliance strategy. Provides input to coordination of AML/KYC/Prevention procedures and policies in overall compliance strategy.

Leverages feedback to determine whether trainings address department findings and organizational need, and provides insight around the development of trainings. Supports the implementation of training programs.

Recruits, directs, motivates and develops staff, maximizing their individual contribution, their professional growth and their ability to function effectively with their colleagues as a team.

Manages multiple teams of AML/KYC/Prevention staff. 

Responsible for achievement of function goals. Ensures team is equipped to operationalize and attain team objectives. Manages financial resources of the team (budgets, expenses, etc.)  

 

 



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.

Pershing provides critical business process, financial and technology solutions for financial organizations around the globe. We operate behind the scenes to power transformational change for broker-dealers, registered investment advisors, independent financial advisers, hedge fund and '40 Act fund managers and individual investors. We strive to be innovators, developing open architecture technology and financial solutions to support our customers' growth. We advocate on behalf of our customers and help them respond to regulatory reform and drive positive outcomes for our industry and investors. From our core business as an industry-leading trade execution, clearing and custody provider, we have evolved into a global multifaceted firm that provides investment solutions, forward-thinking technology-driven efficiencies, practice management and service excellence.

BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: United Kingdom-Merseyside-Liverpool
Job: Compliance
Internal Jobcode: 70305
Organization: Pershing-HR06431
Requisition Number: 1807757