Posted on 2022-11-02

Senior Specialist, Compliance & Control

BNY Mellon


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 defence on compliance issues for all of the lines of business, globally including in APAC, assisting the business through regulatory requirements, best practices and regulatory relationships.

Job Purpose: (What the job role involves)

BNY Mellon Trustee and Depositary (BNYM T&D) is a leading provider of depositary services to collective investment schemes ("CIS") in its role as Depositary. Its overarching fiduciary responsibility is to protect the interests of investors in funds placing the interest of the investor above all others, including its own. Pursuant to a variety of regulatory frameworks globally, funds are required to have a Depositary who is independent of the Fund Manager. BNYM T&D is therefore obliged to perform independent oversight which includes: monitoring compliance with investment and borrowing restrictions, oversight of the sale issue and repurchase of shares, oversight of the Net Asset Value (NAV) calculation and the distribution of income, monitoring of cash flows and performance of cash flow reconciliations.

Principal, Business Compliance Officer, Asset Servicing and Digital is required to take a leading role in supporting the BNY Mellon Asset Servicing and Digital lines of business in remaining compliant with regulatory requirements and corporate compliance policies. The role holder will play a key role in the day-to-day activities of the Business Compliance team, in particular as they relate to Trust and Depositary activities in APAC and globally and Regulatory Change Projects and other products within Asset Servicing and Digital, like Custody and Fund Accounting in the APAC region. Role holder may deputise as a key partner to 1st line senior management and 2nd/3rd line stakeholders. Represents Compliance at internal line of business/governance forums and external meetings as required. The role may require providing guidance and advice across other lines of business where required.

Responsibilities: (Key parts to the job role)

  • Provide accurate and timely technical advice and guidance to business/business partner colleagues on regulatory compliance issues.
  • Provide necessary compliance support related to relevant legal entities across APAC including local licensing, registration and reporting requirements
  • Point of contact for regulators and support the business and legal entities in handling regulatory inquiries, inspections and notification as required
  • Provide necessary support to the relevant legal entities and its clients in relation to AML and sanctions
  • Identify and analyse emerging Compliance risks and trends. Provide feedback and recommendations to other Compliance and Business colleagues on how to mitigate these risks.
  • Provide input to the strategic direction of the work of the Business Compliance team.
  • Undertake Compliance Risk Assessments on assigned lines of business
  • Act as lead Compliance advisor on allotted regulatory change projects.
  • Ensure that internal colleagues are appropriately prepared for discussions with external regulators.
  • Represent BNY Mellon at relevant industry events/ forums as required
  • Provide constructive challenge within meetings regarding relevant regulatory requirements.
  • Participating in or leading the delivery of Compliance related training.
  • Provide support to the Business and Compliance testing teams at the appropriate stages of Compliance Testing reviews. This comprises sharing of information with Compliance Testing colleagues regarding the business lines and/or regulatory themes they are planning to review and assisting the Business in designing and implementing any corrective action identified through the testing reviews.
  • Represent Compliance at the committee meetings of Regulated entities as required. Ensure that any Compliance reports required for those meetings are provided in a timely manner and are focused and relevant to the meeting topic. Provide constructive challenge.


Requirements; (what we are looking for)


  • Degree level qualification
  • Industry compliance qualifications/Professional qualifications


Technical Competence & Experience:

  • Ideally previous experience within a Compliance team or a controls team
  • Relevant technical knowledge of APAC and specifically Hong Kong conduct regulatory framework and strong overall understanding of Trust & Depositary business with high level understanding of wholesale/custody Banking.
  • In addition to English, Mandarin and/or Cantonese language proficiency. Japanese language proficiency a plus.


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
  • 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 report writing and presentation skills


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.

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:

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