Senior Principal (Director), Compliance and Control Senior Principal (Director), Compliance and  …

BNY Mellon
in Jersey City, NJ, United States
Permanent, Full time
Last application, 17 Jun 21
Competitive
BNY Mellon
in Jersey City, NJ, United States
Permanent, Full time
Last application, 17 Jun 21
Competitive
Senior Principal (Director), Compliance and Control
BNY Mellon's Pershing is a leading provider of clearing and custody services that is uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation. Wealth management and institutional firms outsource to Pershing for trading and settlement services, investment solutions, bank and brokerage custody, middle and back office support, data insights, and business consulting. Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc., Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940, and Pershing Limited. Additional information is available on pershing.com, or follow us on LinkedIn or Twitter @Pershing. 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. Responsible for assisting the business units by developing strategies to bring them into compliance with highly complex regulatory and policy requirements. 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. 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. No direct reports: provides guidance to more junior team members and assigns tasks. Directs the achievement of multiple teams' objectives. Modified based upon local regulations/requirements. 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 preferred. 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. BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums. Primary Location: United States-New Jersey-Jersey City Internal Jobcode: 85163 Job: Compliance Organization: Pershing Domestic-HR06431 Requisition Number: 2105174
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