Compliance Officer, Canada

Overview

Overview of BNY Mellon

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 35 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. Team Description: (Overview of the team)

Risk and Compliance provide risk and compliance services across all BNY Mellon businesses including the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Compliance helps ensure BNY Mellon's businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethics. Business Compliance provide the second line of defense on compliance and regulatory issues for all lines of business, assisting the business through regulatory requirements, best practices and regulatory relationships.

Job Purpose: (What the job role involves)

The Business Compliance Officer is required to take a leading role in the design, implementation and maintenance of the regulatory compliance, anti-money laundering and terrorist financing compliance programs supporting the BNY Mellon Asset Servicing and Digital (ASD) and Corporate Trust lines of business. Asset Servicing powers the investment process for clients. Core capabilities include Custody, Fund Services, Data and Analytics Solutions, and Front-to-Back Integrated Middle-Office Solutions. Asset Servicing clients are some of the world's largest and most sophisticated asset managers and asset owners, including banks, corporations, mutual funds, sovereign wealth funds and pensions. The Digital organization sets the direction for BNY Mellon's digital future and drives investments in our digital capabilities, including data management, analytics, artificial intelligence, machine learning and robotics. In 2020, Digital was combined with Asset Servicing to accelerate the business' digital and data transformation, and to ensure it is future ready and positioned to support clients' changing priorities and needs.

Corporate Trust serves as an intermediary between debt issuers, investors and market infrastructure providers. It provides trustee, agency, banking, custody and loan administration services in the debt capital markets.

As a Senior Compliance Officer, you will contribute to regulatory work through the identification, legal assessment of and advice on regulatory requirements relating to the Bank's activities. The responsibilities will focus on ASD and Corporate Trust and other institutional businesses as appropriate and broadly include providing oversight, challenge, advisory and training to the business (first line of defense) employees around Regulatory Compliance issues, including matters relating to institutional ethics and conflicts of interest, best banking practices, conduct risk, complaints handling, regulatory reporting, new product development, as well as matters relating to Canadian regulatory requirements. A key objective of your role will include the management of these requirements in business activities to develop solutions that will strengthen the Compliance function, as a second line of defense.

Supporting the business in providing high quality conduct and compliance advice and oversight to the business on key regulatory risks and issues in respect of business as usual activities (please see below) as well as from forthcoming changes to regulations and/or significant business changes/projects (including product developments, new/amended business processes and IT systems). You will assist the business in establishing and maintaining sufficiently effective compliance controls and procedures, ensuring that regulatory obligations are met, weaknesses or control failures are addressed by local management and poor customer outcomes are avoided

You will also conduct independent risk-based monitoring in line with the annual Compliance Plan and ensure there are effective actions addressing the underlying causes of any problems identified. You will provide Compliance reports in respect of risk-based monitoring and testing to 1st Line Management and 2nd Line Compliance Function. Working with the management you will formulate joint plans for reviewing processes and practices such that any risk is minimized, and transition to new requirements is speedy and effective.

Responsibilities: (Key parts to the job role)

• Obtain reasonable assurance that all regulatory requirements are met and perform regular assessments of the business units and compliance programs in accordance with OSFI Revised Guideline E-13 (Regulatory Compliance Management)
• Maintain strong working relationships with the regulator
• P rovide strategic advice and inputs to the compliance policy development process in the areas pertaining to Canadian-specific regulations and provide strategic guidance and inputs for risk assessments in the relevant subject matter areas
• Monitor compliance with regulatory requirements in the subject matter areas within ASD and Corporate Trust and provide strategic advice on the required control framework
• Identify gaps in the subject matter areas and make recommendations to ASD and Issuer Services Management for the implementation of remediation and/or potential measures of internal control
• Act as liaison with the Bank's legal, risk and operational areas in the subject matter areas and contribute to the development of the operational and control environment enhancement plans and provide 2nd line oversight for implementation
• Develop and maintain a network of industry contacts and strong working relationships with Compliance counterparts across BNY Mellon's Canadian businesses, including CIBC Mellon
• Prepare and present monthly Compliance Reports to senior business management and boards of directors
• Provide coaching and support to less experienced colleagues to increase their knowledge in the field of expertise and to increase the efficiency and quality of the work activities carried out by the compliance group
  • Actively contribute to the review of training materials in the subject matter areas; and
  • Keep up to date with best practice, regulatory requirements and guidance from Canada to ensure state-of-the-art approaches to Compliance

Requirements (what we are looking for)

Qualifications :

• University degree in a related discipline such as business, finance, accounting, IT or law
• Industry compliance qualifications/Professional qualifications

Technical Competence & Experience :

• 10+ years of financial industry experience, including 5 or more years of senior level experience in a compliance function
• Solid understanding of financial services products and operations
• Financial Services, Operations, Compliance or Audit background
• Relevant technical knowledge of Canadian conduct regulatory framework and strong overall understanding of Issuer Services business

Key Competencies and skills :

• Focused attitude to work with the ability to meet deadlines while ensuring attention to detail and high level of accuracy.
• Excellent interpersonal and communication skills with senior business management
• An ability to provide strategic leadership within the immediate team and wider Compliance group.
• An ability to provide effective and constructive challenge.
• Strong analytical skills, detail focussed; ability to identify patterns or connections between situations that are not obviously 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 writing and presentation skills

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.