Principal, First Line Risk - Pershing

Overview

Who we are:

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of September 30, 2022, BNY Mellon had $42.2 trillion in assets under custody/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand for The Bank of New York Mellon

Corporation (NYSE: BK). Additional information is available a t www.bnymellon.com . Follow us on Twitter @BNYMellon or visit our newsroom a t www.bnymellon.com/newsroom for the latest company news.

What we do:

BNY Mellon | Pershing has supported many of the world's most sophisticated and successful financial services firms for more than 80 years. Wealth and institutional firms rely on us for clearing and custody, trading and settlement services, a broad suite of investment solutions, middle and back office support, data insights, and business consulting. BNY Mellon's Pershing offers both Wealth Solutions for broker-dealers, registered investment advisors (RIA) and trust company clients, and Institutional Solutions for prime brokers and institutional broker-dealers.

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., a leading provider of enterprise data management solutions that deliver a single view of an investor's broad range of assets and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940 and a leading provider of managed accounts solutions. Additional information is available on pershing.com, or follow us on LinkedIn or Twitter @Pershing.

Team & Role:

BNY Mellon | Pershing has been a leader in clearing and custody services for more than 80 years. The Line of Business Risk team (first line of defense) for Pershing works primarily with the Institutional Solutions unit, which focuses on bringing the most stable and trusted global clearing infrastructure in the marketplace to Broker-Dealers, Investment Banks, Hedge Funds, and Asset Managers. As Principal, Line of Business Risk, you will be responsible for the ongoing independent oversight and challenge of day-to-day risk management activities, client, product and process change risk assessments, and risk reporting for Pershing. You will advise and assist Pershing with the evaluation of existing processes and use your knowledge of potential risks to appropriately direct Pershing's activities to address any control gaps. Your role will be to anticipate, assess, monitor and report on operational, fiduciary, reputational, business and strategic risks inherent to Pershing's business.

Responsibilities:

In this role, you will:

• Direct Pershing's compliance with the Risk Management Framework by identifying, assessing and mitigating risks, identifying emerging issues, contributing to the development of processes and controls to manage risks, monitoring the adequacy and effectiveness of the control environment, remediating deficiencies, monitoring and challenging business activities and enforcing business line awareness of and adherence to the risk management framework
• Analyze client and prospect portfolios; monitor portfolios intraday and end of day
• Propose borrower ratings for unrated collateral funding and trading counterparties
• Review and optimize margin methodology
• Independently develop reporting on outputs of risk management activities
• Ensure Pershing completes all steps involved in the identification of possible risks during the creation or modification of new products and processes and all non-standard business acceptance events
• Recommend modifications to reduce risk and use strong influence with business line management to ensure compliance, risk and control documentation, and notification of all appropriate representatives and regulators
• Work with the Risk Management, Compliance, and Audit teams and members of the business line to ensure timely completion of risk-related deliverables, issue resolution and implementation of improvements

Benefits:

You will contribute to the success of Pershing's first line of defense by identifying and mitigating potential risks while enabling the business to grow. You will also partner with colleagues across the broader Pershing team and BNY Mellon enterprise to build knowledge of the firm's clients, products, services, and strategy.

The successful candidate will demonstrate/possess:

• Bachelor's degree or the equivalent combination of education and experience
• Strong communication and analytical skills
• Ability to appropriately interact with senior leaders and clients
• Experience in the financial services industry
• 10-12 years of total work experience (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.

BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $96,000 and $212,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.

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: bnymellon.com/careers.

EEO Statement:

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.