IM EMEA - Senior Compliance Manager
- London, England, United Kingdom
- Permanent, Full time
- BNY Mellon Investment Management
- 18 Apr 19
IM EMEA - Senior Compliance Manager
The key purpose of this position is to provide support to the Compliance Officer of BNY Mellon Investment Management EMEA Limited ("BNYM IM EMEA") and BNY Mellon Fund Managers Limited ("BNYMFM") in the design, development and execution of a risk-based compliance programme to ensure that both Firms properly discharge their obligations under applicable laws, regulations and guidance.
BNYM IM EMEA is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and is the legal entity through which the centralised distribution activities of the BNY Mellon Investment Management organisation are operated. BNYM IM EMEA also enters into investment management agreements with institutional clients based to provide discretionary portfolio management services which are sub-delegated to other BNY Mellon group companies BNYMFM is authorised and regulated by the FCA as a UCITS management company and Alternative Investment Fund Manager (AIFM) with AUM of c.£xxbn. Following the UK's withdrawal from the European Union, centralised distribution activities within Europe (ex-UK) will be undertaken by BNY Mellon Fund Management (Luxembourg) S.A. ("BNYMFM-Lux") which is a full subsidiary of BNYM IM EMEA. BNYMFM-Lux also provides management company services on a cross-border basis to the BNY Mellon UCITS schemes domiciled in Ireland.
The BNYM IM EMEA Risk & Compliance function is comprised of 16 risk and compliance professionals including 3 individuals based in Luxembourg. The purpose of this role is to provide lead advisory support in respect of the management company activities of BNYMFM, discretionary portfolio management services provided by BNYM IM EMEA and oversight of delegates including the sub-investment managers and fund administrators. A primary focus of the role will be to support product development initiatives, in particular in respect of the UK and Irish UCITS fund ranges.
The holder of the position will be required to deputise for the Director of Risk & Compliance, as required.
BNY Mellon Investment Management's goal is to build and manage investment and wealth management strategies and solutions that address the ever-changing needs of our clients. Drawing on deep expertise, we collaborate with our clients to understand their needs and tailor our best ideas and resources to meet their specific requirements. As recognised pioneers of the multi-boutique model, BNY Mellon have some of the best investment ideas, from the finest investment minds, all in one place.
BNY Mellon Investment Management has over US$1.9 trillion AUM (as at 31 March 2018) and is the global investment management arm of BNY Mellon, one of the world's largest global asset managers We provide investment management, investment services and wealth management that help institutions and individuals succeed in markets all over the world.
Assist in the development and maintenance of compliance policies and procedures including the Compliance Manual consistent with requirements set out within applicable regulations.
Assist the business in developing and implementing appropriate policies and procedures, where required.
Support the application and communication of BNY Mellon global and regional corporate policies, procedures and protocols.
Provide qualitative and timely advice to business partners on regulatory matters, including the impact of proposed regulatory and/or industry developments and business initiatives on the regulatory and risk profile of the Firms.
Key areas of focus include new business/products (i.e. collective investment schemes and segregated mandates), regulatory licenses and compliance with the applicable chapters of the FCA Handbook, in particular COBS, COLL, SYSC & CASS.
3.Monitoring & Oversight.
Provide support to the design, development and execution of a risk-based compliance programme to ensure that the Firms properly discharge their obligations under applicable laws, regulations and guidance.
To work with compliance colleagues and business stakeholders in the development and execution of a due-diligence programme to facilitate oversight of delegates performing fund administration and investment management function.
Support routine and ad-hoc reporting to the FCA and other regulatory authorities, including ad-hoc information requests.
Management of other individuals in the UK Compliance Advisory function, providing guidance and support in setting performance objectives and goals, providing ongoing coaching and feedback and assisting in setting personal development goals.
6.Projects / Other
Provide compliance support to business initiatives/projects requiring compliance input and implementation of regulatory change.
Provide training to the business on compliance matters as required.
•Make an active contribution to the effective governance of BNYM IM EMEA and BNYMFM including preparation and where required, presentation of reports to the Boards and internal governance committees.
•Provide compliance support to the oversight of functions delegated to the investment managers and administrators, including review of contractual documentation, participation in service review meetings and review/challenge of management information.
•Provision of timely and accurate reporting to the EMEA IM corporate Risk & Compliance function in the format required.
•Effective liaison with internal shared business partners (HR, Finance, Legal etc.) and external vendors
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 Conducting Officers and the Director of Risk and Compliance immediately of any significant changes to business risks and/or internal control effectiveness.
- Report any potential or actual material regulatory breaches to the Conducting Officers, the Board of Directors and the Director of Risk & Compliance immediately upon discovery.
- Participate in centralised initiatives across the BNY Mellon Risk & Compliance organisation, to ensure consistency of approach across business lines and appropriate knowledge-exchange.
- Contribute to the maintenance and testing of an effective business continuity plan to ensure an appropriate response to any disruption to business operations.
Shared Values and Core Competencies:
BNY Mellon Core Values:
- Client Focus - Putting the client at the centre of all that we do
- Integrity- Acting with the highest ethical standards for our company, our employees and our clients
- Teamwork - Fostering collaboration and diversity to empower employees to build relationships and deliver insights
- Excellence - Setting the standard for leading-edge solutions, innovation and continuous improvement
- Global Acumen - Developing and incorporating an understanding of the competitive global business environment as well as an awareness of economic, social and political trends that impact the organization's global strategy
- Establishing Strategic Direction - Establishing and committing to a long-range course of action to accomplish a long-range goal or vision after analyzing 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 partners (e.g., peers, functional partners, external vendors and alliance partners)
- Change Leadership - Continuously seeking (or encouraging others to seek) opportunities for different and innovative approaches to addressing organizational problems and opportunities
- Client Orientation - Cultivating strategic client relationships and ensuring that the client perspective is the driving force behind all value-added business activities
- 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
Job Specific Competencies:
- Strong interpersonal and communication skills (oral and written)
- Attention to detail and ability to work to tight deadlines
- A strong team player and self-motivated
- Ability to work effectively under pressure and to tight deadlines
- Must be capable of exercising sound judgement and good decision-making in managing risk
- Good organisational skills and self-discipline in managing priorities
Skills, Knowledge and Experience:
- A comprehensive understanding of the UK regulatory regime is essential, in particular legislation implementing UCITS, AIFMD and MiFID and associated FCA Handbook text. Experience of the Client Assets & Monies (CASS) regimes also advantageous.
- Prior experience working within the financial services industry would be advantageous, particularly within an asset management firm or fund service provider.
- Intermediate ability on desktop applications such as Microsoft Office required.
Academic / Professional Qualifications (or equivalent qualifiers):
- Degree level education desirable but not essential.
BNY Mellon is an Equal Employment Opportunity Employer.
Primary Location: United Kingdom-Greater London-London
Job: Asset Management
Internal Jobcode: 50343
Organization: BNYM IM EMEA Ltd-HR14104
Requisition Number: 1904478