BNY Mellon Careers

Group Manager, Trustee Depositary (EMEA Custodian Vendor/Risk Restitution Manager)

Dublin, Ireland; Edinburgh, United Kingdom; London, United Kingdom; Luxembourg, Luxembourg
Asset Servicing


Job Description

1) Job Purpose

The Manager is responsible for the effective operational oversight of Global Custodians (including Prime Brokers) appointed to support the clients of  the EMEA Trust & Depositary business (“EMEA T&D”) which are  principally BNYM entities, but will include other 3rd parties. Responsibilities will include, establishing an appropriate governance framework, Service Level expectations, Key Management Information requirements. Effective Communications Plan (both internal and external for EMEA T&D clients) around timely updates and coordination role on any significant updates/changes/challenges being faced by those institutions across all activities relevant to the EMEA T&D business.

He/She will develop a detailed understanding of each EMEA T&D location’s specific requirements in support of its clients, producing regular Executive Summary reporting to include:  key KPI metrics, significant issues/challenges, project/service enhancements that will benefit our clients and overall evaluation of services provided.

 

In addition, He/She will be responsible for coordinating and collating the information required for the Risk Restitution process and will become a member of the Risk Restitution Committee, representing the EMEA T&D Business. He/She will provide monthly reporting and lead the introduction of additional / change / withdrawal to the official EMEA T&D list of approved markets and Depositary delegates across EMEA T&D legal entities.

He/she will be responsible for the initial design/scope of both aspects of the role, i.e. Risk Restitution and operational oversight of Global Custodians, and its continual development to include a roadmap of future initiatives.

He/She will be accountable to the EMEA T & D Senior Management team

2) Key Responsibilities (primary purpose):

 

Risk Restitution - Key Activities ( time allocation – approx. 40/50%)

 

Risk Restitution: To fully understand the EMEA T&D regulatory position and articulate/represent the EMEA T & D position and or requirements to any internal BNYM committee/LOB, and or Client. Question: does it include participation to the Risk Restitution Council? YES

Key contact/escalation person for the Risk Restitution function regarding the collation of information, responding to risk restitution queries from each of the EMEA T&D locations, liaising with Internal Audit, Compliance and the Risk Capital Modelling Team to respond to any risk restitution related queries arising from time to time;

Participates/represents EMEA T & D at various committees to include the, Risk Restitution Council, Financial Market Institutions Monitoring Council and Agent Bank Committee

Global Custody – Key Activities ( time allocation – approx. 40/50%)

 

Global Custodian Vendor Management: Key contact/escalation person for the Global Custodians (including Prime Brokers) in relation to significant servicing, technology or market events that require action by the Depositary in each of the EMEA T&D locations ( not limited to global custody);

Responsible for developing and articulating the strategy on the, evaluation and management of  all custodians appointed by the Depositaries in each EMEA T&D location

Responsible for ensuring that all EMEA T & D teams are kept informed of any custodian related developments;

Key contact point and coordinator for any client communication required related to Custodian activities ( change of sub custodians, negative news on Custodian or its subs, significant system/operational challenges,etc)

Establishes regular sessions to review performance of Global Custodians   (including Prime Brokers)

Pro-active engagement with key internal resources to support information sharing with clients ( Network, Custody Product, technology, Relationship mgmt.)

Serves as a senior EMEA T & D resource for local escalation on any significant risk related issues, including review of nonstandard new business requests in relation to Custody services.

Keep abreast of CASS/CAP regulations with respect to the Custody activity

Complies with BNYM corporate policies and procedure, with particular attention to business risk, internal control effectiveness and compliance matters.

Qualifications

3) Personal specifications:

 

Education & Experience

  • University degree or equivalent
  • Proven background  of working in the Global Custody industry, with good understanding of all Asset Servicing products that include T & D, Fund administration and Transfer Agency.
  • Experience of managing vendor relationships with a proven track record of developing best in class routines.
  • Experience in multi-national companies working in a matrix organization is essential.

Specific knowledge requirements

  • Detailed understanding of all aspects of global custody, the functions, the risks associated and the key servicing elements appropriate for EMEA T & D clients, including restitution risk aspects thereof.
  • Understand the operational risks of markets, profiles of Global Custodians, Sub Custody Networks,  and operational risks within the custody operating model.
  • Detailed understanding of capital markets, Foreign Exchange and Interest rates
  • Familiar with both multi-national and domestic clients, their custody support requirements to include types of non standard service models
  • In-depth knowledge of risk management in relation to depository services in particular risk restitution.
  • Strong communicator with motivational mindset and ability to identify and develop relationships with custodians.
  • Experience in project management

4) Core Competencies

 

Change Leadership - Continuously seeking and encouraging others to seek opportunities for different and innovative approaches to addressing organizational problems and opportunities.

 

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.

 

Building Organizational 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

 

Client Orientation - Cultivating strategic client relationships and ensuring that the client perspective is the driving force behind all value-added business activities.

 

Developing Strategic Relationships - Using appropriate interpersonal styles and communication methods to influence, collaborate and build effective relationships with business partners (e.g. peers, functional partners, external vendors and alliance partners).


BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: Ireland-Dublin-Dublin
Job: Asset Servicing
Internal Jobcode: 70614
Organization: AS Global Front Office-HR16987
Requisition Number: 1815706