Overview Manager, Compliance and Control (Broker-Dealer)
Primarily responsible for reviewing and managing broker-dealer functions and projects to ensure compliance with SEC, FINRA and other applicable regulations. This includes:
Overseeing and providing compliance support to the assigned business units within a broker-dealer compliance program. Ensure that appropriate regulatory policies, procedures, and controls are established, maintained, and well documented. Take ownership of all ongoing compliance review processes and requirements related to assigned areas of coverage. Candidate can, at minimum, be expected to engage in conducting annual test planning and risk assessments, completing branch and home office inspections, monitoring regulatory landscape, liaising with regulators, and drafting policies and procedures. To support these functions, candidate must have a good understanding of related areas, including, but not limited to, customer complaints, registration fillings (U4, U5, BD, etc.), supervision, gifts and entertainment, communications, social media, and training. Candidate will be involved with the review of the current compliance program framework and operations and will be expected to seek enhancements. General knowledge of FINRA and SEC rules and regulations, as well as state regulatory framework. Knowledge of securities products (i.e., mutual funds, ETFs, private funds, and individual securities), compliance, and supervisory requirements. Other responsibilities may include the following:
May provide guidance to more junior professionals to improve their understanding of compliance, control, and documentation policies. Maintains strong working relationships with outside regulators, government officials and senior business unit managers in order ensure the timely delivery of information and increase the likelihood of favorable conditions for compliance activities.
Analyzes existing and proposed legislation, regulatory announcements, and industry practices to help assigned businesses develop and implement procedures to meet existing and upcoming requirements. Based on assessments of controls, works with business units to implement improvements including the completion of appropriate documentation when control changes are made. Contributes to the development of projects and programs to improve compliance and enhance the control environment. Analyzes control processes to ensure they are following all applicable laws, rules, and regulations. Validates the appropriateness of control processes or guides the assigned business units in implementing improvements. Contributes to the preparation of time sensitive reporting and appropriately escalates issues to management.
No direct reports, provides guidance to more junior team members, as needed. Contributes to the achievement of team objectives. Required Qualifications
- Minimum of 5 years of experience as a compliance professional (diversity of experience strongly preferred)
- Experience with rules and regulations applicable to broker-dealers.
- Understanding of SEC and FINRA non-cash compensation and registration rules
- Comfort with ambiguity-capable of solving complex problems independently in a fast-paced environment and adapting along the way
- Ability to initiate and drive projects to completion with minimal guidance
- Exposure to conducting internal reviews and preparing written summaries and regulatory responses.
- Series 7, 24 or 14
- Bachelor's degree or an equivalent combination of education and experience
- Financial Services, Audit or Compliance background and/or experience with financial services compliance and/or experience with the assigned products, and the pertaining laws, regulations and rules of relevant regulators preferred.
- Experience with banking regulations, specifically Bank Collective Funds
- Demonstrated success as a values-based leader who can build and maintain a culture of empowerment, ownership, and accountability
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
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.
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.