Principal, Compliance & Control

BNY Mellon
London, United Kingdom
22 Jul 2022
21 Aug 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
BNY Mellon is an investments company. We provide investment management, investment services and wealth management that help institutions and individuals succeed in markets all over the world. In the region of Europe, the Middle East, and Africa, which we have been serving since the 1900s, we deliver services to a broad range of clients seeking access to global capital markets
Risk & Compliance roles develop, implement and carry out the compliance strategy for the organization and are responsible for establishing the policies, protocols, methodologies and standards around assessing compliance, identifying areas for improvement and implementing changes in response to risk and gap analyses and regulatory changes. Roles communicate with and educate the organization on individual roles and responsibilities in upholding a compliant business environment in alignment with policies, protocols, methodologies and standards developed by the Risk & Compliance function.

To provide second line of defence advice and challenge in relation to financial crimes legal and regulatory obligations and requirements under BNY Mellon's financial crimes policy framework, with a focus on Customer Due Diligence (CDD) requirements.


The role holder will be the AML/CTF advisory lead for the Corporate Trust and Wealth Management business lines which will be the principal focus of the role. AML/CTF advisory responsibilities will cover all relevant legal entities and other business lines, as required, including cover for AML/CTF advisory team members. Key responsibilities include:
  • Provide AML/CTF advice and guidance to the first line of defence (1LOD) on AML regulatory issues and application of policy requirements to their business lines and customers as required, e.g., advice on difficult/complex cases and approval for CDD exceptions or extensions, where permissible in accordance with applicable AML regulations and policy requirements.
  • Review and challenge business line AML/CTF policies, standards, and procedures, at implementation and subsequent review.
  • Provide review and challenge for business line and legal entity AML/CTF and Sanctions risk assessments to ensure they are appropriate and completed in compliance with corporate and regulatory requirements to include all relevant AML/CTF risks and controls and reflect the AML risks associated with the business line / legal entity.
  • Review and challenge other financial crimes related control documentation, including in relation to transaction monitoring data lineage and sanctions surveys.
  • Provide advice to 1LOD in ensuring that financial crimes risks are assessed in relation to changes to systems, customer onboarding, new products, acquisitions and any other relevant projects.
  • Act as a Sector Compliance Officer (SCO) for CDD system generated tasks, including review and challenge of customer profiles.
  • Contribute to overall AML/CTF governance and represent the EMEA Financial Crimes Compliance on committees, as required.
  • Work closely with EMEA MLROs in relation to AML/CTF advice for customer onboarding and wider AML/CTF issues.
  • Deputising at meetings/committees as requested by the MLRO / Deputy MLRO.
  • Assist with annual MLRO report preparation, as requested.
  • Work with the US AML team where required on global policies and standards, training, and other initiatives of common interest.
  • Keep up to date with AML regulatory developments and issues.
  • Represent BNY Mellon at relevant external industry forums, as required, to ensure awareness of industry developments and market practice; and
  • Provide support and input on ad hoc issues to other team members, as required.
  • Oversight, review, and challenge of sanctions-related control processes and procedures implemented within assigned business lines, liaising with sanctions SMEs, as required.
  • Comply with all BNY Mellon corporate policies and procedures , including HR policies and procedures and departmental procedures
  • Alert management immediately of any significant changes to business risks and internal control effectiveness
  • Notify the EMEA Head of Financial Crimes Compliance of any matters that require escalation to Compliance senior management , including the Chief Compliance and Ethics Officer, immediately on discovery, such as material regulatory breaches
  • Comply with all Security and Health & Safety policies and procedures operating within the business.
Core Competencies:
  • Adaptability
  • Communication
  • Customer Orientation
  • Interpersonal Skills
  • Judgement
  • Managing Risk.
Job Specific Competencies:
  • At least 5 years' experience in a Financial Crimes compliance role or equivalent experience
  • General background in Financial Crime / Compliance / Legal
  • Thorough knowledge of financial crimes laws, regulations, guidance, and regulatory expectations
  • Ability to work under time pressure in calm , professional manner in an environment of change
  • Strong analytical skills, problem-solving ability and attention to detail
  • Excellent communication and interpersonal skills
  • Strong planning skills
  • Detailed knowledge of products and services for the business lines covered by the role would be an advantage
Legal or bachelor's degree or equivalent work experience

Employer Description:

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 and 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:

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