What are the responsibilities and job description for the Director, Anti Money Laundering/Prevention/Know Your Client Manager position at BNY Mellon?
Overview
Director, Anti Money Laundering/Prevention/Know Your Client Manager
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000 employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking a future team member for the role of Director, Anti Money Laundering/Prevention/Know Your Client Manager to join our Risk & Compliance team. This role is located in New York, New York & Pittsburgh, PA ONSITE/HYBRID
In this role, you’ll make an impact in the following ways:
Supporting Wealth Management business and product strategic priorities and the short term and long-term roadmap for BNY 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 Wealth Management products, with a focus on financial crimes compliance regulatory developments and 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 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 business activities
Supporting the scoping and impact analysis for financial crimes regulatory change impacting products.
Reviewing and challenging business line 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 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 wealth management’s 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 products and services
Providing advice in relation to financial crimes implications of 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 BNY Money Laundering Reporting Officers in relation to financial crimes advice for business’ 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 training for 1LOD/2LOD, and other initiatives of common interest.
Complying with all BNY 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 Wealth Management 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.
To be successful in this role, we’re seeking the following:
Extensive experience in a financial crime’s compliance role or equivalent experience
Thorough knowledge of financial crimes laws, regulations, guidance, and regulatory expectations
Understanding of the wealth and high-net worth business segments 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
At BNY, our culture speaks for itself. Here’s a few of our awards:
America’s Most Innovative Companies, Fortune, 2024
World’s Most Admired Companies, Fortune 2024
Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
Best Places to Work for Disability Inclusion , Disability: IN – 100% score, 2023-2024
“Most Just Companies”, Just Capital and CNBC, 2024
Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY 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, including paid volunteer time, that can support you and your family through moments that matter.
BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
BNY assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $125,000 and $240,175 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNY total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
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.
Director, Anti Money Laundering/Prevention/Know Your Client Manager
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000 employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking a future team member for the role of Director, Anti Money Laundering/Prevention/Know Your Client Manager to join our Risk & Compliance team. This role is located in New York, New York & Pittsburgh, PA ONSITE/HYBRID
In this role, you’ll make an impact in the following ways:
Supporting Wealth Management business and product strategic priorities and the short term and long-term roadmap for BNY 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 Wealth Management products, with a focus on financial crimes compliance regulatory developments and 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 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 business activities
Supporting the scoping and impact analysis for financial crimes regulatory change impacting products.
Reviewing and challenging business line 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 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 wealth management’s 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 products and services
Providing advice in relation to financial crimes implications of 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 BNY Money Laundering Reporting Officers in relation to financial crimes advice for business’ 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 training for 1LOD/2LOD, and other initiatives of common interest.
Complying with all BNY 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 Wealth Management 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.
To be successful in this role, we’re seeking the following:
Extensive experience in a financial crime’s compliance role or equivalent experience
Thorough knowledge of financial crimes laws, regulations, guidance, and regulatory expectations
Understanding of the wealth and high-net worth business segments 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
At BNY, our culture speaks for itself. Here’s a few of our awards:
America’s Most Innovative Companies, Fortune, 2024
World’s Most Admired Companies, Fortune 2024
Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
Best Places to Work for Disability Inclusion , Disability: IN – 100% score, 2023-2024
“Most Just Companies”, Just Capital and CNBC, 2024
Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY 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, including paid volunteer time, that can support you and your family through moments that matter.
BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
BNY assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $125,000 and $240,175 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNY total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
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.
Salary : $125,000 - $240,175
