BNY Mellon Careers
IM EMEA, Assistant Compliance Manager – Distribution & Financial Promotions
BNY Mellon Investment Management’s goal is to build and manage investment and wealth management strategies and solutions that address the ever-changing needs of our clients. Drawing on deep expertise, we collaborate with our clients to understand their needs and tailor our best ideas and resources to meet their specific requirements. As recognised pioneers of the multi-boutique model, BNY Mellon have some of the best investment ideas, from the finest investment minds, all in one place.
BNY Mellon Investment Management has over US$1.9 trillion AUM (as at 31 March 2018) and is the global investment management arm of BNY Mellon, one of the world’s largest global asset managers We provide investment management, investment services and wealth management that help institutions and individuals succeed in markets all over the world.
The key purpose of this position is to provide support to the Compliance Officer of BNY Mellon Fund Management (Luxembourg) S.A. (“BNYMFM-Lux” or “the Firm”) in the design, development and execution of a risk-based compliance programme to ensure that the Firm properly discharges its obligations under applicable laws, regulations and guidance.
BNYMFM-Lux is authorised by the Commission de Surveillance du Sector Financier (CSSF) as a UCITS management company and Alternative Investment Fund Manager (AIFM). The Firm currently acts as an AIFM to a range of open and closed-ended Luxembourg-domiciled AIFs invested in specialist sub-investment grade corporate credit strategies with AUM of approx. €7bn. Following the UK’s withdrawal from the European Union, it is intended that the Firm will provide cross-border management company services to BNY Mellon’s UCITS ranges in Ireland with AUM of approx.€30bn AUM. It is also envisaged that the Firm will host centralised distribution activities within Europe (ex-UK) and enter into investment management agreements with clients based in the EU/EEA to provide discretionary portfolio management services sub-delegated to other BNY Mellon group companies. It is intended that the Firm will establish Branch offices in France (Paris), Germany (Frankfurt), Italy (Milan), the Netherlands (Amsterdam), Spain (Madrid) and Sweden (Stockholm).
The BNYMFM-Lux Compliance function will be staffed by 3 individuals based in Luxembourg and benefits from support provided by the centralised Risk & Compliance functions of the parent company, BNY Mellon Investment Management EMEA Limited (“BNYM IM EMEA”). This role will focus predominantly on the distribution activities of the Firm, including oversight of the production and review of financial promotions and oversight of the Branch offices. Depending on the candidate’s experience, the role may also encompass AML/CTF responsibilities.
The holder of the position will be required to deputise for the BNYMFM-Lux Compliance Officer, as required.
- Assist in the development and maintenance of a Compliance Charter and compliance policies and procedures including the Compliance Manual which are consistent with regulatory requirements.
- Assist the business in developing and implementing appropriate policies and procedures, where required.
- Support the application and communication of BNY Mellon global and regional corporate policies, procedures and protocols.
- Provide qualitative and timely advice to business partners on regulatory matters relating to Luxembourg, including the impact of proposed regulatory and/or industry developments and business initiatives on the regulatory and risk profile of the Firm.
- Key areas of focus include oversight of production and review of financial promotions and other communications issued, oversight of distribution channels including appointment of sub-distributors, regulatory requirements applicable to the Branch offices.
Monitoring & Oversight
- Provide support to the design, development and execution of a risk-based compliance programme to ensure that the Firm properly discharges its obligations under applicable laws, regulations and guidance.
- To work with the BNYM IM EMEA centralised monitoring function in the development and execution of a business-wide compliance programme to facilitate monitoring of the adequacy and effectiveness of policies and procedures implemented by the business.
Make an active contribution to the corporate governance framework of BNYMFM-Lux including preparation and where required, presentation of reports and/or participation in meetings of the BNYMFM-Lux Board and internal governance committees.
- Support routine and ad-hoc reporting to the CSSF, the Banque Centrale du Luxembourg and other regulatory authorities, including information requests.
Projects / Other
- Provide compliance support to business initiatives/projects requiring compliance input and implementation of regulatory change.
- Provide training to the business on compliance matters as required.
- Fluency in English (verbal and written). Intermediate or advanced French language language competency also desirable.
- Prior experience working within the financial services industry would be advantageous, particularly within an asset management firm or fund service provider.
- Familiarity with the Luxembourg fund industry and regulatory environment, in particular the laws implementing UCITS, AIFMD and MiFID including associated CSSF circulars.
- Intermediate ability on desktop applications such as Microsoft Office required.
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.
As one of the world's leading investment management organizations and one of the top U.S. wealth managers, BNY Mellon Investment Management combines agility, insight and scale to create and deliver strategies and solutions to address our clients' needs. Encompassing BNY Mellon's investment management firms, wealth management organization and global distribution teams, we draw on deep expertise to collaborate with clients and tailor our best ideas and resources to meet their specific needs. We pride ourselves on providing dedicated service through our network of global professionals who have a deep understanding of local requirements. With our extensive experience in anticipating and responding to the investment and financial needs of the world's governments, pension plan sponsors, corporations, foundations, endowments, advisors, intermediaries, individuals and families, and family offices, BNY Mellon Investment Management is dedicated to helping clients reach their goals.
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: Luxembourg-Luxembourg-Senningerberg
Job: Asset Management
Internal Jobcode: 50347
Organization: BNYM IM EMEA Ltd-HR14104
Requisition Number: 1811855