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Principal, Legal Entity Control Officer

BNY Mellon

You can make a difference by working at BNY Mellon, where finance, technology and business intersect, to power the global financial industry.


Job Title: Principal, Legal Entity Control Officer

Location: Manchester/Edinburgh

Job description

For over 235 years, Bank of New York Mellon (BNY Mellon) has been at the center of the global financial markets, providing the world’s leading institutions the tools, capabilities, and services to be distinctive investors. We power individuals and institutions to succeed in the global economy providing investment management, investment services and wealth management.

With a dedicated business presence on six continents and in 35 countries, BNY Mellon delivers global scale at the local level.

Our organizational culture stands on solid values – Integrity, Strength in Diversity, Passion for Excellence and Courage to Lead. Our guiding principles drive us to always do what’s right, helping everyone feel included on the way, to take the risks necessary to lead and get things done.

Department/Team overview

This role will report to the London Branch Managing Director and is instrumental in supporting the London Branch to proactively identify risk and ensure appropriate risk mitigation. There will be a strong need to challenge and consolidate management information received from the business and partner also with control and second and third line functions to ensure there is an optimal control and risk environment oversight mechanism. The role holder will have a solid understanding of an entity’s risk and control environment.

Your role

Activities to be performed include, but are not limited to:

  • Acts as a point of contact for all first line of defence control and risk related activities for the London Branch, acting as a delegate for, and using judgement to escalate issues to, the London Branch Managing Director, as appropriate.
  • Synthesizes and interprets key metrics (risks, errors/near misses, reconciliations and root cause analyses) to determine potential risks to the London Branch. Draws conclusions in order to recommend and direct any resulting change needed to mitigate risk.
  • Develops comprehensive management information that supports the London Branch governance, risk and control environment.
  • Responsible for the High Level Assessment working in conjunction with first line executive and middle management along with second line Risk, including driving forward any associated remedial actions within the agreed target dates.
  • Works with the business control functions to ensure existing legislation, regulatory announcements and industry practices for the first line of defence requirements are met, including responding to reports issued by regulatory agencies , Internal Audit and Compliance Monitoring.
  • Validates controls and project plans to ensure compliance with laws, rules and regulations and manage risk.
  • Oversees the development and implementation of procedures to meet complex compliance requirements.
  • Maintain an understanding of EBA guideline requirements and ensure compliance from the perspective of the legal entity in conjunction with the framework and line of business owners.
  • Represent the London Branch in other forums and committees as directed , including but not limited to, the London Branch Risk, Control and Audit Committee, EMEA Senior Risk and Control Committee , EMEA Advisory Controls Council and the EMEA Conduct and Culture Council.
  • Develops and maintains good working relationships key stakeholders across the business units and the second line of defence to ensure consistent reporting structures are in place in order to coordinate the escalation of issues.
  • Participate in cross-entity initiatives such as conflicts of interest, inducements, resiliency and other initiatives, as required.
  • Supports multiple, complex projects with a strategic focus and owns project timelines and leadership expectations.
  • Coaches and develops junior members of the team.

The successful candidate willdemonstrate/possess:

  • Robust risk and control, governance, and/or compliance experience gained in the 1st or 2nd Line of Defence roles
  • Solid understanding of Compliance Risk Management and best practice, operational risk tools, control frameworks and taxonomy.
  • Demonstrable experience in using excellent problem solving and analytical skills to deliver data analysis and interpretation of key metrics, to expected standards.
  • Strong interpersonal skills to influence internal and external stakeholders and impact business decisions over which the incumbent has no direct authority, including the ability to effectively deal with senior management.
  • Ability to manage multiple concurrent assignments of varying scope and complexity in a cross-functional environment.
  • Demonstrable ability to work under minimal supervision, collaborate and lead effectively.
  • Confident, self-starter who takes the initiative, acts with integrity and holds oneself accountable for their remit.

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.

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Principal, Legal Entity Control Officer

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BNY Mellon

You can make a difference by working at BNY Mellon, where finance, technology and business intersect, to power the global financial industry.

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