UK-Outsourcing Framework Principal

Job Description

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.

Job Purpose:

Intense scrutiny from regulators, both in the UK and in the US on Outsourcing and its interaction with Operational Resilience has greatly increased the prominence of the role of the Outsourcing Manager over the last eighteen months.
The role will be based in Manchester, report to the EMEA Chief Control Officer and is instrumental in overseeing and forming a holistic view of London Branch’s activities that are outsourced to internal and external providers and ensuring that it is properly controlled and governed. The incumbent will play a key role in improving the resilience of the London Branch by actively joining in relevant resilience initiatives.
The BNY Mellon UK Outsourcing Manager has responsibilities for the oversight of the Outsourcing Framework as it applies to BNY Mellon UK Banking Legal Entities, specifically the Bank of New York Mellon London Branch and BNY Mellon (International) Ltd. The UK Outsourcing Manager has particular responsibility for maintaining the Outsourcing framework (including oversight of 3rd party vendor outsource providers) and overseeing the compliance of UK entities with the framework, applicable policies and regulations such as SYSC 8, MiFID II and the EBA Outsourcing Guidelines. The UK Outsourcing manager is responsible for chairing the UK Outsourcing Oversight Committee and producing related outsourcing reporting for BNY Mellon International Board, London Branch Management Committee and other governance forums as well as interfacing with regulators, auditors and compliance monitoring on UK outsourcing matters.

Key responsibilities:

• Lead UK Outsourcing team with responsibility for the maintenance of a robust UK Legal Entity Outsourcing framework which is consistent with the EMEA control framework approach and compliant with BNY Mellon outsourcing policies , principles and applicable regulations
• Further embed controls over external 3rd party vendor outsource providers in collaboration with the global TPG teams, the business and other key stakeholders
• Collaborate with global teams on the development and implementation of tools
• Chair the UK Outsourcing Management Committee to provide oversight of both internal and external 3rd party vendor outsource providers
• Maintain the Tier II UK Outsourcing procedures in line with global and regional policies
• In cooperation with Risk, refresh the risk appetite measures for inter-affiliate outsourcing and outline risk appetite and performance metrics for the oversight of 3rd party vendor outsource providers
• Redesign the reporting process to the various governance bodies to simplify management information flow, focusing on provision of analysis and insight to the UK Legal Entity governance structure
• Timely implementation of remediation of  audit, compliance monitoring and self-identified issues
• Build effective relationships with global TPG stakeholders and the Business Services Recipients and EMEA counterparts to facilitate efficient and effective outsourcing processes across the region
• Provide support to the Line of Business teams when they are faced with key operational outsourcing issues throughout the lifecycle of due diligence, contracting, and provide escalation to governance forums
• Interact with the Operational Resilience teams to provide oversight of Outsourcing and Insourcing relationship of CEFs and the quality of documentation in the Connection tool
• Work closely with the EMEA Chief Controls Officer to identify opportunities for process and control improvements and best practice adoption across the UK Banking Legal Entities and the wider organisation


 • Resides in the business and manages first line of defense regulatory oversight management efforts as they relate to moderately complex regulatory and policy requirements.
• Thorough knowledge of Financial Services rules and regulations. 
• Strong problem solving, analytical ability oral and written communication skills.
• Possesses the ability to handle stressful situations with internal clients and regulators, while maintaining a professional approach to problem solving. 
• Ability to effectively deal with senior management as well as, Federal/State and other Regulators.
• Bachelor’s degree and previous experience within financial services
• Robust risk and control, governance, and/or compliance experience gained in the 1st or 2nd Line of Defence roles
• Good understanding of operational risk tools, control frameworks and taxonomy
• Solid understanding of an entity’s risk and control environment
• Experience with metrics and data analysis
• Delivery focused, with proven track record of delivering on expectations
• Demonstrated ability to work, collaborate and lead effectively on a geographically dispersed team.
• Confident, self-starter with the ability to work with minimal supervision.
• Strong interpersonal, verbal, and written communication skills and attention to detail.
• Takes initiative, accepts challenges, grows business acumen, and establishes/sustains internal/external networks and relationships in a complex organisational environment

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 Manchester-Manchester
Job: General Mgmt / Admin
Internal Jobcode: 70400
Organization: EMEA IS REG Change Area Mgmt-HR16447
Requisition Number: 1911676