BNY Mellon Careers
Sr Specialist,Product Management (Regulatory Change)
Asset Servicing Regulatory Change team provides leadership in regulation and will provide a single point of contact for all the regulatory changes taking place within the organization
The business lines covered are the full suite of global Asset Servicing Line of Business' including but not limited to: Custody, Investment Accounting, Global Risk Solutions, Fund Accounting, Transfer Agency, Trustee / Depotbank / Depositary, Derivatives 360, Middle Office and Marketing Support Services.
The Regulatory Change team is responsible for conducting research into the impact of regulations on our clients, products and services and formulating plans on how to maintain and develop our business franchise through regulatory change. To achieve this, the team needs to monitor a broad range of markets and regulatory developments, conduct research into material regulatory change and engage with the business, Technology and Operations to provide impact assessments on where regulations affect our products, clients, segments and Legal Entities within EMEA.
The Regulatory Analyst should review all new regulations when they are published and assess at a high level the relevance of the regulation to Asset Servicing products and processes The focus is to understand the regulation and check whether it requires a deeper analysis. They have responsibility to update the regulatory roadmap and publish to all stakeholders.
The impact assessment focuses on analyzing whether the changes required from a regulation are material changes or not. A short regulatory summary document should be prepared by the Regulatory product manager and then reviewed by stakeholders including business representatives in the first line of defense and compliance in the second line of defence. Once it is established that the changes are material, a detailed Impact Assessment is performed by the RA for the regulation. The impact assessment phase consists of detailed scoping of the regulation and extracting key interpretations, mapping regulation to the organization’s Business Model, and recording changes required in the products, services and/or processes.
Through this work we produce a significant volume of collateral that can support internal communications and education, client engagement, media engagement and sharing of information across stakeholders and lines of business. The costs of implementing regulatory change are now significant and we need to ensure we maintain our margins as we implement changes. There are also new business opportunities and the role will develop these where appropriate to help drive profitable growth.
- The incumbent will have two resources working with them focused on regulatory work.
- They will be responsible for leading our regulatory campaign with Regulatory Change teams in support of the Asset Servicing business. Key to this will be developing our current practices and methods around this work, ensuring the collaboration of participants and stakeholders, and working closely with the marketing and communications teams.
- The Incumbent will need to demonstrate sound analytical skills, strong financial acumen, excellent communication skills and the ability to produce quality work in a collaborative environment. They must also be able to demonstrate our core corporate values of integrity, teamwork and excellence.
- Plan and manage global regulatory impact assessments
- Regulatory research and management of regulatory collateral
- Regulatory horizon scanning
- Internal training and communications
- Support and collateral for client and media engagement, including Event and conference speaking engagements
- Annual planning and funding for regulatory projects
- Coordination with other LoBs and marketing
- Bachelor's degree or equivalent required
- Product management experience within financial services would be beneficial
- Proven background of quantitative and qualitative analysis experience in a financial services firm required.
- Must possess strong organizational and interpersonal skills.
- Must be a proficient user of Microsoft tools, including MS Access and be a proficient business writer.
- Ability to define problems, collect data, draw valid conclusions and carry out impact assessments
- Business analysis related skills and techniques including methodologies, standards and best practice
- Demonstrable evidence of analysing and documenting business processes.
- Presentation and public-speaking skills
- Proven experience interacting directly with, and supporting, end users
- Experience of using Microsoft Office products, in particular manipulating Excel and Visio
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: United Kingdom-Greater London-London
Job: Asset Servicing
Internal Jobcode: 70237
Organization: AS Global Front Office-HR16987
Requisition Number: 1814262