The key purpose of this position is to provide support to the Compliance Officer of BNY Mellon Fund Management (Luxembourg) S.A. (“BNYMFM-Lux” or “the Firm”) in the design, development and execution of a risk-based compliance programme to ensure that the Firm properly discharges its obligations under applicable laws, regulations and guidance.

BNYMFM-Lux is authorised by the Commission de Surveillance du Sector Financier (CSSF) as a UCITS management company and Alternative Investment Fund Manager (AIFM). The Firm currently acts as an AIFM to a range of open and closed-ended Luxembourg-domiciled AIFs invested in specialist sub-investment grade corporate credit strategies with AUM of approx. €10bn. The Firm provides cross-border management company services to BNY Mellon’s UCITS ranges in Ireland with AUM of approx..€30bn AUM. The Firm hosts centralised distribution activities within Europe and enter into investment management agreements with clients based in the EU/EEA to provide discretionary portfolio management services sub-delegated to other BNY Mellon group companies. The Firm established Branch offices in France (Paris), Germany (Frankfurt), Italy (Milan), the Netherlands (Amsterdam), Spain (Madrid) and Sweden (Stockholm).

The BNYMFM-Lux Compliance function is staffed by 3 individuals based in Luxembourg and benefits from support provided by the centralised Risk & Compliance functions of the parent company, BNY Mellon Investment Management EMEA Limited (“BNYM IM EMEA”). This role will focus predominantly on the distribution activities of the Firm, including oversight of the production and review of financial promotions and oversight of the Branch offices. Depending on the candidate’s experience, the role may also encompass AML/CTF responsibilities.

The holder of the position will be required to deputise for the BNYMFM-Lux Compliance Officer, as required.

Key Responsibilities:

1. Policy Development

• Assist in the development and maintenance of Compliance policies and procedures including the Compliance Manual which are consistent with regulatory requirements.
• Assist the business in developing and implementing appropriate policies and procedures, where required.
• Support the application and communication of BNY Mellon global and regional corporate policies, procedures and protocols.

1. Compliance Advisory

• Provide qualitative and timely advice to business partners on regulatory matters relating to Luxembourg, including the impact of proposed regulatory and/or industry developments and business initiatives on the regulatory and risk profile of the Firm.
• Key areas of focus include oversight of production and review of financial promotions and other communications issued, oversight of distribution channels including appointment of sub-distributors, regulatory requirements applicable to the Branch offices

1. Monitoring & Oversight.

• Provide support to the design, development and execution of a risk-based compliance program to ensure that the Firm properly discharges its obligations under applicable laws, regulations and guidance.
• To work with the BNYM IM EMEA centralized monitoring function in the development and execution of a business-wide compliance program to facilitate monitoring of the adequacy and effectiveness of policies and procedures implemented by the business.

1. Governance

• Make an active contribution to the corporate governance framework of BNYMFM-Lux including preparation and where required, presentation of reports and/or participation in meetings of the BNYMFM-Lux Board and internal governance committees.
• Oversight of

1. Regulatory Engagement

•   Support routine and ad-hoc reporting to the CSSF, the Banque Centrale du Luxembourg, CBI and other regulatory authorities, including information requests.

        6. Projects / Other

• Provide compliance support to business initiatives/projects requiring compliance input and implementation of regulatory change.
• Provide training to the business on compliance matters as required.

Governance Responsibilities:

• Make an active contribution to the effective governance of BNYMFM-Lux and the EMEA distribution business through participation in internal governance committees, including the Investment Management Oversight Committee (IMOC) when required, the Risk & Compliance Committee (RCC), the Management Committee Meeting (MCM), the Board of the Funds and the Board of BNYMFM-Lux.
• Provision of a Risk & Compliance report to the IMOC, RCC and Board of BNYMFM-Lux including qualitative risk and compliance management information.
• Provision of timely and accurate reporting to the EMEA IM corporate Risk & Compliance function in the format required.
• Effective liaison with internal shared business partners (HR, Finance, Legal etc.) and external vendors.

Generic Staff Responsibilities:

• Comply with all BNY Mellon corporate policies and procedures, including HR policies and procedures, applicable to BNY Mellon
• Alert management including the Conducting Officers and the Director of Risk and Compliance immediately of any significant changes to business risks and/or internal control effectiveness.
• Report any potential or actual material regulatory breaches to the Conducting Officers, the Board of Directors and the Director of Risk & Compliance immediately upon discovery.
• Participate in centralised initiatives across the BNY Mellon Risk & Compliance organisation, to ensure consistency of approach across business lines and appropriate knowledge-exchange.  

Qualifications

BNY Mellon Core Values:

• Client Focus – Putting the client at the centre of all that we do
• Integrity- Acting with the highest ethical standards for our company, our employees and our clients
• Teamwork – Fostering collaboration and diversity to empower employees to build relationships and deliver insights
• Excellence –  Setting the standard for leading-edge solutions, innovation and continuous improvement

Core Competencies:

• Global Acumen - Developing and incorporating an understanding of the competitive global  business environment as well as an awareness of economic, social  and political trends that impact the organization’s global strategy
• Establishing Strategic Direction - Establishing and committing to a long-range course of action to accomplish a long-range goal or vision after analyzing factual information and assumptions taking into consideration resources, constraints and organizational values
• Developing Strategic Relationships - Using appropriate interpersonal styles and communication methods to influence, collaborate and build effective relationships with business partners (e.g., peers, functional partners, external vendors and alliance partners)
• Change Leadership - Continuously seeking (or encouraging others to seek) opportunities for different and innovative approaches to addressing organizational problems and opportunities
• Client Orientation - Cultivating strategic client relationships and ensuring that the client perspective  is the driving force behind all value-added business activities
• Driving Execution - Translating strategy into operational reality. Breaking down strategic priorities or business initiatives into key tasks and identifying accountabilities. Aligning communication, people, culture, processes, resources and systems to ensure effective implementation and delivery of required results

Job Specific Competencies:

• Strong interpersonal and communication skills (oral and written)
• Attention to detail and ability to work to tight deadlines
• A strong team player and self-motivated
• Ability to work effectively under pressure and to tight deadlines
• Must be capable of exercising sound judgement and good decision-making in managing risk
• Good organisational skills and self-discipline in managing priorities

Skills, Knowledge and Experience:

• 2+ years of experience working within the financial services industry is required, particularly in Management Company / AIFM.
• Familiarity with the Luxembourg fund industry and regulatory environment, in particular the laws implementing UCITS, AIFMD and MiFID including associated CSSF circulars. Solid knowledge of the CSSF Circular 18/698 is required.
• Intermediate ability on desktop applications such as Microsoft Office required.
• Fluency in English (verbal and written). Intermediate or advanced French language, other language competency also desirable.

Academic / Professional Qualifications :

• Degree level preferred but not essential.

 

BNY Mellon is an Equal Employment Opportunity Employer.
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.

Primary Location: Luxembourg-Luxembourg-Luxembourg
Job: Risk
Internal Jobcode: 85165
Organization: Compliance-HR06015
Requisition Number: 2104437