Overview
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com . Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
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Job Purpose:
This is a Financial Crimes Compliance role advising with the BNY Mellon's business on the Financial Crime Compliance aspects of its expansion into the Digital Asset sector. Advisory areas will include Anti-Money Laundering, Sanctions, Fraud, Cybersecurity and other applicable regulatory and compliance dimensions, as related to custody, global payments and correspondent banking, cash management, trade, and liquidity. Key areas of digital expertise include: digital assets, digital/virtual currencies; distributed ledger technology, tokenization and the application of Financial Crimes Compiance controls to these areas. This role will be a key stakeholder engaging with the business to provide second line of defense advice and challenge in relation to financial crimes digital assets legal and regulatory obligations and requirements under BNY Mellon's financial crimes policy framework.
Responsibilities:
The role holder will be play a role providing advice on financial crimes compliance for all digital assets initiatives. Key responsibilities include:
- Supporting digital product strategic priorities and the short term and long-term roadmap for BNY Mellon by providing 2nd line of defense (2LOD) review, challenge, and advice in relation to financial crimes compliance requirements.
- Keeping track of industry and regulatory trends in relation to digital products, with a focus on financial crimes compliance regulatory developments and digital product financial crimes typologies, supporting the first line of defense (1LOD) in identifying solutions to meet regulatory requirements e.g., Travel Rule / Funds Transfers Regulation compliance solutions.
- Providing financial crimes advice and guidance to the 1LOD on financial crime regulatory issues and application of policy requirements to their business lines, products/services, and customers in relation to digital products e.g., licensing/registration requirements and advice on technical aspects of Know Your VASP due diligence
- Acting as central point of contact and overseeing the implementation of Financial Crimes Compliance requirements across the 1 and 2LOD to support digital asset activities
- Supporting the scoping and impact analysis for financial crimes regulatory change impacting digital products.
- Reviewing and challengeing business line digital product policies, standards, and procedures, at implementation and subsequent review, in relation to implementation of financial crimes compliance requirements.
- Supporting 2LOD review of new and modified digital products and services, including considering the product AML risk rating, AML typology review, and advising on controls required to mitigate the financial crimes risks associated with the product.
- Supporting review and challenge of other financial crimes related control documentation and governance, including in relation to transaction monitoring data lineage and sanctions surveys as they relate to digital products and the monitoring of associated public and private blockchains.
- Supporting development and on-going review of risk and controls assessments, KRIs, and KPIs involving digital asset products and services
- Providing advice in relation to financial crimes implications of digital product investments, acquisitions, and any other relevant projects, as required.
- Contributing to overall financial crimes governance and represent the Financial Crimes Compliance on internal committees, as required, and at relevant external industry forums.
- Working closely with BNYM Money Laundering Reporting Officers in relation to financial crimes advice for digital products and any local regulatory requirements.
- Working with the global Financial Crimes Compliance on developing and enhancing global financial crimes policies and standards in relation to digital products, training for 1LOD/2LOD, and other initiatives of common interest.
- Complying with all BNY Mellon corporate policies and procedures, including HR policies and procedures and departmental procedures
- Alerting management immediately of any significant changes to business risks and internal control effectiveness
- Notifying the Global Head of Financial Crimes Compliance and Chief Compliance Officer of Digital Assets Compliance of any matters that require escalation to Compliance senior management, including the Chief Compliance and Ethics Officer, immediately on discovery, such as material regulatory breaches
- Complying with all Security and Health & Safety policies and procedures operating within the business.
- Extensive experience in a financial crimes compliance role or equivalent experience
- Thorough knowledge of financial crimes laws, regulations, guidance, and regulatory expectations
- Understanding of digital assets and the regulatory environment, particularly in relation to financial crimes compliance
- Ability to work under time pressure in calm, professional manner in an environment of change
- Strong analytical skills, problem-solving ability, and attention to detail
- Excellent communication and interpersonal skills
- Legal or bachelor's degree or equivalent work experience
BNY Mellon offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves that can support you and your family through moments that matter.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
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.