Website BNY Mellon
Senior Specialist, Compliance & Control
BNY Mellon
Job Description
BNY Mellon Trustee and Depositary (BNYM T&D) is a leading provider of depositary services to collective investment schemes (“CIS”) in its role as Depositary. Its overarching fiduciary responsibility is to protect the interests of investors in funds, placing the investor’s interest above all others, including its own.
Under various regulatory frameworks globally, funds are required to have a Depositary independent of the Fund Manager. BNYM T&D is therefore obliged to perform independent oversight, which includes: monitoring compliance with investment and borrowing restrictions, oversight of the sale issue and repurchase of shares, oversight of the Net Asset Value (NAV) calculation and the distribution of income, monitoring of cash flows and performance of cash flow reconciliations.
Principal, Business Compliance Officer, Asset Servicing and Digital is required to take a leading role in supporting the BNY Mellon Asset Servicing and Digital lines of business in remaining compliant with regulatory requirements and corporate compliance policies. The holder will play a key role in the day-to-day activities of the Business Compliance team, particularly as they relate to Trust and Depositary activities in APAC and globally and Regulatory Change Projects and other products within Asset Servicing and Digital, like Custody and Fund Accounting in the APAC region. The role holder may deputize as a critical partner to 1st-line senior management and 2nd/3rd line stakeholders. Represents Compliance at the internal line of business/governance forums and external meetings as required. The role may require providing guidance and advice across other lines of business where required.
Responsibilities
- Provide accurate and timely technical advice and guidance to business/business partner colleagues on regulatory compliance issues.
- Provide necessary compliance support related to relevant legal entities across APAC, including local licensing, registration, and reporting requirements
- Point of contact for regulators and support the business and legal entities in handling regulatory inquiries, inspections, and notifications.
- Provide necessary support to the relevant legal entities and their clients concerning AML and sanctions
- Identify and analyze emerging Compliance risks and trends. Provide feedback and recommendations to other Compliance and Business colleagues on how to mitigate these risks.
- Provide input to the strategic direction of the work of the Business Compliance team.
- Undertake Compliance Risk Assessments on assigned lines of business
- Act as lead Compliance advisor on allotted regulatory change projects.
- Ensure that internal colleagues are appropriately prepared for discussions with external regulators.
- Represent BNY Mellon at relevant industry events/ forums as required
- Provide constructive challenges within meetings regarding relevant regulatory requirements.
- Participating in or leading the delivery of Compliance related training.
- Provide support to the Business and Compliance testing teams at the appropriate stages of Compliance Testing reviews. This comprises sharing information with Compliance Testing colleagues regarding the business lines and/or regulatory themes they plan to review and assist the Business in designing and implementing any corrective action identified through the testing reviews.
- Represent Compliance at the committee meetings of Regulated entities as required. Ensure that any Compliance reports required for those meetings are provided promptly and are focused and relevant to the meeting topic. Provide constructive challenge.
Requirements
Qualifications:
- Degree level qualification
- Industry compliance qualifications/Professional qualifications
Technical Competence & Experience:
- Ideally, previous experience within a Compliance team or a controls team
- Relevant technical knowledge of APAC and specifically Hong Kong conduct regulatory framework and an overall solid understanding of Trust & Depositary business with a high-level understanding of wholesale/custody Banking.
- In addition to English, Mandarin, and/or Cantonese language proficiency. Japanese language proficiency is a plus.
Key Competencies and skills:
- Focused attitude to work with the ability to meet deadlines while ensuring attention to detail and high accuracy.
- Excellent interpersonal and communication skills
- An ability to provide strategic leadership within the immediate team and broader Compliance group.
- An ability to provide practical and constructive challenges.
- Strong analytical skills, detail focussed; ability to identify patterns or connections between situations that are not related and to determine key underlying issues in complex situations.
- Ability to think pragmatically and proactively suggest solutions;
- Team player and flexible in a fast-paced environment
- Articulate and able to represent Compliance to senior business personnel and external stakeholders with confidence.
- Good report writing and presentation skills
Average Salary: HK$69,469
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