Head of Compliance, Pershing Australia

Job Description

  • Responsible for the development of the compliance strategy for the assigned business units.
  • Advises on the compliance efforts of the business units and directs the work of more junior professionals
  • Responsible for reviewing work completed by more junior professionals to confirm accuracy, timeliness and completeness
  • In partnership with business unit senior managers, responds to and develops compliance reporting and presents reporting to leadership
  • Based on assessments of controls, advises business units on the implementation of improvements and the completion of appropriate documentation when control changes are made
  • Directs analyses of existing and proposed legislation, regulatory announcements and industry practices in order to lead the assigned businesses in developing and implementing procedures to meet existing and upcoming requirements
  • Assigns analysis activities to more junior professionals
  • Contributes to the establishment of key risks indicators (KRIs) and tracking and reporting methodologies as part of a standard system of measurement and reporting
  • Develops projects and programs to improve compliance and enhance the control environment
  • Directs the assessment of the effectiveness of current risk prevention and mitigation projects to ensure senior managers in the assigned business units are equipped with the education to identify and judge the severity of risks
  • Recommends areas and topics where further education is needed based on assessments and implements approved education activities
  • Develops the assigned business units' strategy for analyzing control processes to ensure they are in compliance with all applicable laws, rules and regulations
  • Assigns analysis activities to more junior professionals in support of the strategy. Uses strong industry experience to validate the appropriateness of control processes or direct the development of improvements
  • Directs the assigned business units in implementing improvements
  • Provides direct input to more junior professionals to improve their understanding of compliance, control and documentation policies
  • Liaise with management, both on and offshore, to provide updates both on Pershing Australia’s regulatory position and on industry updates/incoming obligations
  • Liaise with teams in global Pershing and BNY Mellon Compliance to ensure that all group-wide obligations and requirements are met
  • Carry out monitoring and surveillance activities, both in relation to trade execution and for AML/CTF purposes
  • Keep abreast of the regulatory developments, interpret and provide advice on policies, regulatory requirements and impact, and control related processes
  • Uses strong working relationships with outside regulators, government officials and senior business unit managers to influence compliance activities across multiple business units, ensure the timely delivery of information and increase the likelihood of favorable conditions for compliance activities
  • Leads the development of training and education for the assigned business units on risk management and compliance requirements
  • Guides business unit management on appropriate methods for assessing education needs and determining the appropriate materials to be developed.
  • Assigns material development tasks to more junior professionals
  • Directs less experienced professionals in assessing the effectiveness of highly complex controls that help ensure ongoing compliance with key laws, regulations and policies affecting BNY Mellon businesses throughout the world
  • Prepares and may deliver complex, comprehensive, risk based reviews of existing and emerging global regulatory requirements and provides prompt, focused feedback to business management on concerning issues and control gaps
  • Independently develops recommendations for corrective action and issue tracking to ensure resolution efforts proceed timely and effectively
  • Prepares highly complex, time sensitive reporting and appropriately escalates issues with a potentially global impact to senior management
  • Directs event analyses, including confirmed losses, breakdowns in control and 'near misses' to identify root causes of the control failures. Contributes to the design and implements approved remedial solutions
  • Provides guidance to more junior team members and assigns tasks
  • Directs the achievement of multiple teams' objectives
 

Qualifications

  • Bachelors degree or the equivalent combination of education and experience is required, Business or Finance degree preferred
  • 15-18 years of total work experience with a background in equities and exchange – traded options, ideally in a retail broking environment preferential
  • A thorough understanding of Enterprise Compliance Risk Management and best practices
  • Excellent problem solving, analytical ability, oral and written communication skills
  • Ability to resolve stressful situations with internal clients and regulators in a professional manner
  • Ability to effectively interact with senior/executive management and regulators
  • Strong interpersonal and influencing skills to achieve positive outcomes with constituencies over whom the incumbent has no direct authority.
  • Financial Services, Audit or Compliance background and/or experience with financial services compliance and/or experience with the assigned products, services or business lines/areas and the pertaining laws, regulations and rules of relevant regulators preferred
 


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.

Pershing provides critical business process, financial and technology solutions for financial organizations around the globe. We operate behind the scenes to power transformational change for broker-dealers, registered investment advisors, independent financial advisers, hedge fund and '40 Act fund managers and individual investors. We strive to be innovators, developing open architecture technology and financial solutions to support our customers' growth. We advocate on behalf of our customers and help them respond to regulatory reform and drive positive outcomes for our industry and investors. From our core business as an industry-leading trade execution, clearing and custody provider, we have evolved into a global multifaceted firm that provides investment solutions, forward-thinking technology-driven efficiencies, practice management and service excellence.

BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: Australia-New South Wales-Sydney
Job: Compliance
Internal Jobcode: 85163
Organization: Risk-HR06016
Requisition Number: 1912203