Full-Time Head of FCC Advisory – Treasury Services, GCM and Credit Services
Head of FCC Advisory – Treasury Services, GCM and Credit Services
New York, NY, United States
BNY Mellon (BNYM) 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. BNYM 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.
BNYM’s global Financial Crimes Compliance group is responsible for the Firm wide Anti Money Laundering (AML)/Know Your Customer (KYC)/Customer Due diligence (CDD)
and Economics Sanctions Compliance (collectively “FCC”) Program. The team provides
oversight of the day-to-day and strategic implementation of the Firm’s enterprise-wide
financial crime prevention efforts. This includes providing the appropriate governance,
oversight and execution of the Firm’s FCC programs. Part of the responsibility includes
providing expertise, guidance, and support/challenge to all BNY Mellon businesses
globally on FCC policies and requirements, including the various dedicated KYC
utilities that assist the businesses in implementing FCC requirements globally.
The role holder will be the FCC advisory lead for the Treasury Services (Global Payments, Cash Management, Trade and Correspondent Banking) which will be the principal focus of the role. FCC advisory responsibilities will cover all relevant business activities globally, as required, leading a team that provides FCC Compliance Advisory to businesses’ applicable obligations globally.
This senior role includes the application of FCC regulatory knowledge and industry experience to continually enhance and sustain a robust set of FCC requirements and provision of advice on an ongoing basis. The incumbent must work effectively with multiple stakeholders within
the institution to enhance their understanding of compliance and overall enterprise risks,
as well as the risk management and implementation of mitigating control as SME around FCC Compliance (including USA PATRIOT Act/Bank Secrecy Act and various EMEA and APAC AML
Key responsibilities include:
•Managing global compliance and associated control environments and striking the balance between serving as a trusted advisor to the business and encouraging a culture of robust challenge to the business.
•Working with Treasury Services, GCM and CS to enhance their understanding of compliance and overall enterprise risks, as well as the risk management and implementation of mitigating controls. Based on assessments of controls, advise business units on the implementation of improvements and the completion of appropriate documentation when control changes are made.
•Analysing existing and proposed legislation, regulatory announcements, and industry
practices to advise BNY Mellon businesses, KYC operations and other
stakeholders in developing and implementing procedures to meet existing and
upcoming requirements and verify compliance with complex regulatory and policy
requirements; make recommendations on compliance risks as well as benchmark
Compliance processes and workflows against evolving industry standards.
•Providing enterprise-wide advice on entire business units’ strategy changes to further improve their ability to remain in compliance with or become compliant with organizational policies and regulations.
•Serving as a solution champion and a lead subject matter expert in Financial Crimes Compliance (including USA PATRIOT Act/Bank Secrecy Act (BSA)/AML) as it pertains to specialized products such as digital/virtual asset products/services.
•Provision of strategic advice and inputs to the FCC compliance policy and standards
development process in the areas pertaining to U.S. and global regulations by
working with key compliance partners in respective EU countries where BNY Mellon
has a presence. Provide strategic guidance and inputs for risk assessments in the
relevant subject matter areas.
•Working with multiple stakeholders within the institution to enhance their understanding of compliance and overall enterprise risks, as well as the risk management and implementation of mitigating controls.
•Managing the governance and oversight at the business level of firm-wide AML/KYC/OFAC efforts to plan, coordinate, and track the implementation of the Firm’s Global KYC policy standards.
•Coordination with FFC colleagues on the implementation and continued maintenance
of Customer and Product Risk Rating methodology and controls.
•Based on assessments of controls, advise business units on the implementation of
improvements and the completion of appropriate documentation when control
changes are made.
•Developing and providing regular training to BNY Mellon businesses, operations and
other stakeholders on key FCC topics and assisting the global businesses
in developing regular communication on key compliance topics.
Core skills required to achieving success in the role include knowledge and familiarity
with U.S. and global AML Laws/Regulations including for Banks and NBFIs. The ability
to comprehend changes to laws and regulations including reporting impact of changes to
colleagues and senior management are important with strong written and verbal skills in
order to communicate with senior management and staff Able to provide training to
businesses covered. Experience in defining and executing KYC change controls and
periodic refresh strategy Operational knowledge of KYC rules implementation and
maintenance. The role includes the needs to assist in maintaining strong working
relationships with outside regulators, government officials and senior business unit
managers to ensure the timely delivery of information and increase the
likelihood of favourable conditions for compliance activities
•Bachelor’s degree or the equivalent combination of education and experience is
required. MBA, JD, or professional certification preferred.
•15+ years of total work experience, with 5-7 years of management experience,
preferred. Financial Services, Audit or Compliance background and/or experience
with financial services compliance and/or experience with Correspondent Banking/Payments and assigned products, services or business lines/areas and the pertaining laws, regulations and rules of relevant regulators preferred.
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 $136,500 and $280,000 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.
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.
How to Applyhttps://bnymellon.eightfold.ai/careers?query=37778%20&pid=15581956&domain=bnymellon.com&sort_by=relevance&triggerGoButton=false
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