Responsible for the provision of advice and development of the compliance strategy for Markets and Corporate Treasury. Independently contributes to the compliance efforts of these business units and interacts with Compliance teams in Frankfurt, Brussels and London.
The position will have a solid reporting line into the Head of Compliance Germany, a dual solid reporting line into the EMEA Head of Compliance Advisory Markets and Corporate Treasury Compliance based in London and a matrix reporting line into the Deputy Chief Compliance Officer of The Bank of New York Mellon SA / NV based in Brussels.
Responsible for assisting the business units by developing strategies to bring them into compliance with complex regulatory and policy requirements.
In partnership with business unit senior managers, responds to and develops compliance reporting and may present reporting to leadership.
Based on assessments of controls, advises business units on the implementation of improvements and the completion of appropriate documentation when control changes are made.
Analyses existing and proposed legislation, regulatory announcements and industry practices in order to lead the assigned businesses in developing and implementing procedures to meet existing and upcoming requirements.
Providing advice to various levels of management, business lines and functional partners in relation to E.U. regulation (including but not limited to MiFID 2, MAR, PSD2, SFTR, EMIR, EU Benchmark Regulation and the FX Global Code) and regulatory supervisory expectations and trends in countries where The Bank of New York Mellon SA / NV operates.
Contributes to the development of projects and programs to improve compliance and enhance the control environment.
Assesses the effectiveness of current risk prevention and mitigation projects to ensure managers in the assigned business units are equipped with the education to identify and judge the severity of risks.
Analyses control processes to ensure they are in compliance with all applicable laws, rules and regulations.
Guides the assigned business units in implementing improvements. Provides direct input to more junior professionals to improve their understanding of compliance, control and documentation policies.
Collaborates with the business unit to develop the appropriate training materials.
Assesses the effectiveness of complex controls that help ensure ongoing compliance with key laws, regulations and policies affecting respective business units.
Prepares complex, comprehensive, risk based reviews of existing and emerging regulatory requirements and provides prompt, focused feedback to business management on concerning issues and control gaps.
May contribute to the development of recommendations for corrective action and issue tracking to ensure resolution efforts proceed timely and effectively.
Contributes to the preparation of complex, time sensitive reporting and appropriately escalates issues to senior management.
The successful candidate will have a background in a financial services compliance or regulatory advisory role. The candidate will have a thorough knowledge and understanding of relevant E.
U. and local financial services legislation and regulation relating to the provision of services and infrastructure requirements for firms in the wholesale financial markets in respect of all countries where The Bank of New York Mellon SA / NV operates.
In particular, the candidate will have experience of a wholesale trading environment in Germany in particular and continental Europe in general and in-
depth knowledge of respective regulatory requirements.
Experience of providing direct advice and challenge to front office trading staff
Knowledge of implementations of above E.U. regulations (including but not limited to WpHG, KWG, MaComp and WpDVerOV) as well as general knowledge of similar requirements applying in continental European countries.
Working knowledge of the application of U.S. law would be advantageous
Fluency in English language required; German or Dutch language knowledge would advantageous;
Law, Business or Finance degree preferred.
10-12 years of total work experience preferred.