BNY Mellon Careers
Senior Advisor, Compliance and Control
1. Overview of BNY Mellon:
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 35 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.
2. Team Description:
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 five main pillars; Markets and Corporate Treasury, Advisory, Monitoring, Financial Crime and Regulatory Change and Policy.
The Markets and Corporate Treasury Compliance Team is split into two sub-teams: Advisory and Surveillance.
Markets and Corporate Treasury Advisory provides the second line of defence on a range of conduct compliance issues for each line of Markets business and Corporate Treasury in EMEA, assisting the business through understanding regulatory requirements, applying best practices and building strong and transparent regulatory relationships.
Markets and Corporate Treasury Surveillance provides the second line of surveillance defence reviewing trading and communications alert closed or escalated by the first line surveillance teams, providing challenge and guidance to the first line. The team also conducts quality assurance, assists in the development of systems and conducts thematic surveillance.
The Markets business lines include: foreign exchange, capital markets (fixed income and equity), securities finance, liquidity services, collateral management and investment management (advisory) group.
Corporate Treasury undertake a range of risk, strategic and/or general financial management activities to enable BNY Mellon to maintain or improve/maximise its financial and prudential position.
3. Reporting line:
Reporting to the EMEA Head of Markets and Corporate Treasury Compliance.
4. Job Purpose:
Compliance has a key responsibility as a part of the second line defence function to:
• Provide advisory, monitoring, training, oversight & challenge to business lines and where relevant partner functions;
• Ensure business line and business partner functions are provided with accurate and timely advice in relation to regulatory compliance issues;
• Work with business lines and partner functions to assist them to address the impact of regulatory changes;
• Manage BNY Mellon’s relationship with relevant regulators; and
• Seek to embed a compliance culture and conduct model throughout the organisation.
5. General Responsibilities:
• Assist the EMEA Head of Markets and Corporate Treasury Compliance to manage the EMEA Markets and Corporate Treasury Compliance Advisor and Surveillance Team.
• Deputise for the EMEA Head of Markets and Corporate Treasury Compliance where required;
• Assist the Head of Markets and Corporate Treasury Compliance EMEA to manage staff within teams. 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;
• 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.
• 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;
• This includes providing technical advice on the application of financial services regulation to relevant business lines;
• 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;
• Ensure representation of compliance related issues and provide appropriate challenge at relevant internal meetings where acting as alternate to the Head of Markets and Corporate Treasury Compliance;
• Represent Compliance and provide appropriate challenge at relevant external 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. , ensuring timely and robust input and challenge by team members; and
• Track and record issues and concerns as they arise and assist in the production of appropriate Management Information.
6. Governance Responsibilities
• 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.
7. 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.
a. 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 analysing 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.
b. Personal Requirements
The successful candidate will ideally have the following experience/understanding:
• A background in a wholesale financial services trading compliance or regulatory advisory role;
• A thorough knowledge and understanding of relevant EU and UK law and regulation relating to the provision of services and infrastructure requirements for firms in the wholesale financial markets;
• Bachelor s degree or the equivalent combination of education and experience is required;
• Proven total work experience in Compliance within financial services compliance;
• An understanding of BNY Mellon’s Markets asset classes;
• Relevant industry compliance qualifications;
• If possible, and highly advantageous, a working knowledge of any relevant EU or US regulatory requirements; and
• If possible, and highly advantageous, an understanding of custodial banking;
• Interpretation and guidance in respect of statutes, directives, regulations and regulatory codes and guidance;
• Providing advice to various levels of management, business lines and functional partners in relation to U.K. and E.U. conduct regulation including, but not limited to, the FCA Handbook of Rules and Guidance, the PRA Handbook, FSMA, MiFID 2, MAR, SFTR, EMIR, PSD2, Global FX Code and the UK Money Market Code requirements) and regulatory supervisory expectations and trends;
• Preparation of communications to regulators including applications for waivers, notifications, regulatory reporting, consents and similar;
• Preparation of Management Information and internal reports;
• 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 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 conduct regulations;
• Supporting company responses to attestation requests, supervisory visits 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;
• A proven ability to engage with and influence senior management and the business line;
• Providing leadership and knowledge transfer to other team members in relation to technical matters, specific projects and deliverables and issues;
• Experience of regulatory conduct related issues and frameworks;
• An understanding of MAR and MiFID 2 surveillance requirements; and
• An understanding of prudential regulation would be desirable, but not essential.
9. What we can offer you:
• Challenging, fun and supportive environment
• 25 days holiday (in addition to Bank Holidays) plus opportunity to purchase up to 5 extra days
• Highly competitive benefits package including pension and private medical cover
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: United Kingdom-Greater London-London
Internal Jobcode: 85164
Organization: Compliance & Ethics-HR06015
Requisition Number: 1906877