Please login/register to apply for this job.
19 May 2022

Full-Time Principal, Compliance Risk Assurance

Mekhidae15 – Posted by Mekhidae15 New York, New York, United States

Job Description

The Enterprise Risk Assurance (ERA) team provides assurance over the processes that are fundamental to risk management and feed into the risk profile of BNY Mellon. This is achieved by methods of evaluating key processes that fall under the responsibility of the Chief Risk Officer and collaborating with senior management across BNY Mellon to identify meaningful improvements.

The Compliance Risk Assurance team, within ERA is an objective second line validation function which aims to evaluate the effectiveness of the Bank of New York Mellon’s Compliance Risk Management Framework to ensure that the framework is conceptually sound. The team is a testing team, much like Internal Audit, which sits in the 2nd Line of Defense.  The individual should have an Internal Audit or Compliance Testing background with a strong risk and control mindset. Subject Matter Expert in AML, KYC, CIP, OFAC/Sanctions & Sanctions, Analytical/Data Mining skills preferred.


Assist ERA Compliance Risk Assurance Head through the following work:

  • Manage all phases of assigned reviews (planning, fieldwork, reporting) and performing Lead Reviewer activities in accordance with ERA testing methodology and standards to assess the adequacy and effectiveness of the BNY Mellon compliance & ethics program activities
  • Conduct detailed audit-like testing activities to help deliver upon ERA’s Compliance Risk Review Annual Plan. This includes:
    • Perform controls testing, quality assurance reviews and remediation testing as assigned. Test execution will be conducted to evaluate the design and operating effectiveness of the Compliance & Ethics program activities control environment and detailed analysis of completeness / accuracy / quality of data.
    • Reviewing the operations and adequacy of the Compliance pillars framework elements, processes, and policies
    • Quality assessment reviews and or conduct detailed analysis of process / control / metrics using various techniques including data mining and analytics, and or substantive testing.
  • Provide guidance, review, and direction to assigned review team members.
  • Document, complete and keep track of all test paperwork.  Communicate the status of each testing exercise to ERA Compliance Risk Assurance Head and complete a detailed report of work for addition to the review archive to evidence executed testing.
  • Prepare findings / review results to be presented to the ERA Compliance Risk Assurance Head and management (i.e., upon completion of test work, will be required to articulate / report on results from review work performed, and document outcomes, including issues, in a clear, concise, and contextualized manner).
  • Perform Quality Assurance review over other test workpapers to ensure high quality of documentation (including comprehensiveness of testing and adequacy of conclusions reached).
  • Perform finding management – which may include:
    • Validation closure review (i.e., reasonableness assessments of evidentiary matter submitted by finding owners of previously raised ERA Compliance Risks Assurance findings from prior reviews), to assess that remediation plans have been addressed.
    • Findings tracking to manage and monitor findings coming due, past due and any that require further escalation.
    • Findings reporting of status summary (both for purposes of internal team MI and external reporting).
  • Assist with the development of the annual planning process and ad-hoc requests.
  • Develops and maintains productive working relationships with Risk & Compliance review contacts, stakeholders, team members, and others in the organization to facilitate the timely delivery of information and increase the likelihood of favorable conditions for compliance risk assurance activities.


The candidate should have:

  • Internal Audit or Compliance Testing background with a strong knowledge of risk and control best practices and how that should manifest in key control design / execution across the 1st and 2nd lines of business.
  • Strong analytical skills with the ability to assess and test & evaluate large/complex sets of data to draw conclusions, as well as the ability to assess and understand a process from end-to-end and be able to identify/test the key controls that exist within (or identify gaps if none exist).
  • Strong level skills with Microsoft programs (Word, Excel, PowerPoint, Access Database) to execute work and Reports.  Note that as it relates to Excel, if possible, the candidate should:
    • Be able to create Pivot Tables, include grouping, slicing, inserting calculated fields to pivot tables.
    • Be able to combine various data into one Chart and know how to set up dynamic/interactive charts.
    • Know how to write simple/advanced Macros in Excel (compare, sort, filter, modify, copy and paste data in the workbooks in order to find and highlight audit exceptions) for perform data analysis and automation of audit tests.

More generally, the candidate should have:

  • Bachelor’s degree or the equivalent combination of education and experience is required.  Accounting or Finance degree with 10-12 years of total work experience in the financial services preferred
  • Strong communication skills with the ability to clearly present messages and known deficiencies to ERA management and client.
  • Understanding of a financial banking organization and the related businesses that may exist within, as supported by support functions (i.e., Operations, Technology, Risk, Compliance, etc.).
  •  Intelligent, energetic, positive, team-oriented, and hard-working professional, with the ability to lead and inspire.
  • Act as an ambassador for the function, in support of the ERA mission and objectives – and help embed risk culture through facilitating better understanding and accountability.

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 Apply

Job Categories: LGBT. Job Types: Full-Time. Job Tags: Compliance, regulatory, and risk.

Job expires in 51 days.

51 total views, 1 today

Apply for this Job