Compliance Advisory Director
- London, England, United Kingdom
- Permanent, Full time
- BNY Mellon
- 11 Oct 17 2017-10-11
Based in London, the purpose of the role is primarily to manage a small team supporting the BNY Mellon Investment Services Businesses operating out of Legal Entities in the UK (and, where appropriate, elsewhere in Europe, Middle East and Africa) to remain compliant with applicable regulation and corporate compliance policies.
~~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.
Risk and Compliance provide risk and compliance services across all BNY Mellon businesses and include the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Risk Management is organized through Chief Risk Offices for each core business and critical operation. Compliance helps ensure BNY Mellon's businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethical standards. In EMEA, Compliance is split into four pillars; Advisory, Monitoring, Financial Crime and Regulatory Change. Advisory provide the second line of defence on compliance issues for all of the lines of business in EMEA, assisting the business with regulatory requirements, best practices and regulatory relationships.
The role holder will support the day-to-day running and management of compliance activities as they relate to Investment Services in the UK/EMEA, including Asset Servicing (Custody, Fund Administration and Trustee and Depositary Services), Broker Dealer Services, Corporate Trust, Depositary Receipts, Wealth Management and Treasury Services. This is a new role to help develop and build on the current infrastructure. We are looking to create a strong advisory compliance team focused on providing, in collaboration with others, support, advice, recommendations and reassurance to Boards, Senior Management and the Business Lines that regulatory requirements are being met. The incumbent will be a member of the senior leadership team within EMEA Compliance Advisory with their own personnel management responsibilities and will be a key partner to First Line Senior Management. The role may require input to locations to which BNY Mellon has outsourced operations and as such the incumbent should be prepared to travel.
• Manage a team of Compliance professionals, overseeing the work of the team and ensuring that it is of a consistently of a high standard and meeting deadlines
• Ensure adherence to performance management processes in respect of direct reports
• Proactively develop and provide both soft skills and technical training opportunities for direct reports
• Actively participate in and contribute to Advisory Compliance senior leadership led projects and initiatives
• Understand and apply all relevant regulations and policies (including client asset protection; outsourcing and fiduciary and payments rules and regulations)
• Provide accurate and timely technical advice and guidance to the Investments Services Businesses in relation to regulatory compliance issues including in the context of proposed new or expanded business activities and locations
• Work with Regulatory Change colleagues to advise on impact and implementation of any new regulatory requirements relevant to the Investment Services Businesses
• Identify and analyse emerging Compliance risks and trends. Provide feedback and recommendations to other Compliance and Business colleagues on how to mitigate these risks
• Partner with Business Line senior management to communicate and embed regulatory and policy matters such that they are well understood
• Assist the Businesses in tracking to completion of corrective action plans arising from external regulatory exam/internal audit findings
• Represent Compliance in connection with business driven projects. Provide constructive challenge to help ensure that BNY Mellon’s regulatory obligations are taken into account
• Where required act as liaison between the Business and the Firm’s Regulators, in particular the FCA and PRA. Ensure that internal colleagues are appropriately prepared for discussions with the Regulators and maintain constructive on-going working relationships with the Regulators.
• Represent BNY Mellon at relevant industry events/forums as required and provide timely feedback to internal Business and Control Function colleagues
• Participate in internal business line related /legal entity governance meetings as required. Ensure that any Compliance reports required for those meetings are provided in a timely manner and are focused and relevant to the particular meeting. Provide constructive Compliance challenge at such meetings.
• Promote Compliance awareness and participate in/ lead the delivery of Compliance related training relevant to the Business Lines
• Participate in periodic Compliance Monitoring (testing) reviews. This is likely to involve sharing information with Compliance Monitoring colleagues in relation to the Business Lines and/or regulatory themes they are planning to review
• Deputise for the Head of Advisory Compliance where required
• Degree level qualification
• Industry compliance qualifications/legal qualifications
• Experience leading a Compliance team
• Experience working in Compliance at a major investment services firm would be a distinct benefit
Technical Competence & Experience:
• Relevant technical knowledge of UK/EMEA prudential and conduct regulatory framework (e.g. CRD IV, MIFID II, PSD II, CSDR, COBS, CASS, SYSC, COLL, SMCR, Conduct Risk Agenda)
• At least 10 years’ relevant compliance (or risk/legal) experience
• Relevant investments services/wholesale banking experience would be a distinct advantage
• Excellent knowledge of the local regulatory environment, ongoing regulatory initiatives which impact the business lines. Previous experience with a Regulator would be an advantage
• Excellent understanding of the investment services industry
• Excellent report writing and presentation skills
• Focused attitude to work with the ability to meet deadlines while ensuring attention to detail and high level of accuracy
• Excellent interpersonal and written and verbal communication skills
• An ability to provide leadership within the immediate team and wider Compliance group
• An ability to provide effective and constructive challenge
Key Competencies and skills:
• Strong analytical skills, detail focussed; ability to identify patterns or connections between situations that are not obviously related and to determine key underlying issues in complex scenarios
• Problem solving: ability to build a logical approach to resolve problems or manage the situation at hand by drawing on own knowledge and experience and calling on other references and resources as necessary.
• Ability to influence at all levels of the Firm
• Proven capability of working in a matrix environment and reporting structure
• Ability to think pragmatically and proactively suggest solutions
• Team player and flexible in a fast paced environment.
• Strong relationship management skills with ability to develop and maintain effective relationships with internal and external stakeholders
• Articulate and able to represent UK/EMEA Compliance to senior business personnel and external stakeholders with confidence