EMEA Head of Business Oversight & Client Asset Protection

BNY Mellon



24 March 2017

Apply now
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 & 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's Asset Servicing business is dedicated to dynamically supporting our clients' investments and safeguarding their assets, keeping them working around the clock and across the world. It's part of our commitment to being a true partner for our clients' investment success. We specialize in operational solutions and capabilities for today's market enhancing management and administration of investments with services that process, monitor and measure investment data from around the world. By leveraging BNY Mellon's global footprint and deep expertise, we deliver insight-driven solutions for every phase of investing.


This is a certified role. The Head of Business Oversight and Client Asset Protection for EMEA Asset Servicing will be responsible for ongoing operational compliance for EMEA AS Clients, across multiple international locations and jurisdictions.

After a period of induction on the CASS, CAP rules and stabilization, the position holder will act as the Responsible Individual for CASS, CAP and other relevant Asset Protection regulations within EMEA. The role includes oversight of the operational effectiveness of the EMEA AS systems and controls that hold and protect our clients’ assets (cash and non-cash). They will be accountable to the Head of EMEA AS for certification on asset protection compliance.

The Head of Business Oversight will need to lead an established oversight team, part in the UK and part in India, in relation to Asset Protection but also in relation to outsourced client related activities for EMEA AS around onboarding, client changes, off-boarding, client static data set up, contract administration and KYC. Where certain functions have been delegated within BNYM, they will need to ensure we have appropriate contractual and service level agreement arrangements in place with internal operational groups. They will be responsible for monitoring the performance of these groups to ensure an accurate portfolio of artefacts for clients, accurate client data references across our multiple platforms, and up to date KYC.

In summary this position will have accountability for the control and oversight of our outsourced activities to ensure our clients’ assets are protected and our books and records are accurate and maintained in accordance with regulations. They will be responsible for ensuring ongoing compliance with regulations around client asset protection on behalf of EMEA AS clients.

The job holder will need extensive industry knowledge and strong management skills. They will be expected to interact with many other business areas in relation to our outsourced activities, and also many of our business partners in compliance, risk and legal. They will need to represent EMEA AS on many internal governance forums and legal entity boards, and will need to liaise with other senior leaders in the region.

Develop and execute a strategy for the Business Oversight function to ensure it provides value by overseeing completeness and accuracy of client data records, including the portfolio of artefacts, client data references and KYC. Oversee any remediation projects in relation to current data set up to ensure ongoing compliance, in collaboration with other company functions.

Client Asset Responsible Individual for EMEA Asset Servicing ensuring that our client’s assets are held in accordance with regulation. Responsible for the oversight of the operational effectiveness of EMEA AS systems and controls to hold and protect client assets (cash and non-cash) and for the ongoing business operational compliance with EMEA Client Asset rules and regulations across multiple international locations and jurisdictions. This will include both remediation and BAU activities currently underway in relation to CASS and CAP.

Management of a team of 10+ and creating a center of excellence within EMEA Asset Servicing

Represent the EMEA AS business at various governance, legal entity and other internal management meetings and contribute to the effective governance of the region in ensuring compliance with the relevant regulatory requirements across multiple jurisdictions.

Ongoing management of our internal outsourcing arrangements around onboarding (specifically contract administration, client data set up and KYC), including the establishment and monitoring of SLAs and conducting service review meetings.



Experience within Investment Services, with knowledge and exposure of Asset Servicing and in particular Custody

Strong management and leadership skills

Required Skills

Business Expertise:

The role requires an in depth understanding of the financial Industry and asset servicing products. This knowledge will be necessary to enable the successful candidate to understand the impact of Asset Protection regulation on our operating model and to oversee outsourced activities around client onboarding. They will also require a broad understanding of all the products and services offered by AS and the different types and nature of our clients.

Problem Solving:

The role will require a strategic thinker that can think creatively and laterally in applying regulatory impact assessments across Business Oversight activities and have the understanding and confidence to actively work with the EMEA AS and regional executive team to present findings, remedial action plans and effective business solutions.

In relation to the onboarding activities the biggest challenge with this role stems from the fact that many parts of our outsourced activities are in fact delivered from multiple groups. The challenge will be for the job holder to ensure all parties understand the role they play in the process and to ensure accountability across all elements. When issues arise the job holder will need to bring all parties together to agree solutions and resolve conflicts.

Nature & Area of Impact

The position will have influence and the ability to affect multiple international locations and jurisdictions across the globe. The business is ultimately accountable for the protection of its client’s assets, and for ensuring that our books and records for all client data are complete, accurate and up to date. Inaccurate data can lead to regulatory breaches, client dissatisfaction, inaccurate legal and regulatory reporting and lack of accurate management information. Any one of these issues could have a major impact on our business or any one of our legal entities.

Interactions / Interpersonal Skills:

The role requires very strong interpersonal skills. They will need to interact with all levels of staff within the AS organization, including senior executives across the firm. They will need to be able to demonstrate the ability to influence, organize and negotiate with internal functional and business partner groups. They will be responsible for representing EMEA AS on many forums, often in place of the CAO, COO or Head of EMEA AS, liaising with other senior members of the organization. We would therefore expect the person to be confident and articulate. Strong, professional leadership skills will be essential.

The latest features from Asset Servicing Times
The EU’s General Data Protection Regulation is now less than a year away, and affected firms still have much to do, heard attendees at GAIM London
As the active-passive fund debate reaches fever pitch, there is a third option, says Broadridge’s Stephanie Clarke
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Asset managers are increasingly relying on data, and the service providers that can manage it, heard attendees at London’s TSAM conference
As the long-standing Barclays Point risk analytics solution winds down to retirement, investment managers have some tricky decisions to make, according to Confluence’s Katie Kiss
Fund administrators could be best off leaving back-office technology upgrades to the professionals, says Kelly Ashe of Pacific Fund Systems
In the search for alpha, appointing an investment fund and a management company can bring myriad benefits, says Eduard von Kymmel of VP Bank
Fund distribution is entering the digital age, and so can traditional service providers. Fundsquare’s Paolo Brignardello explains
Blockchain may be the talk of the town, but before the industry starts moving ahead, it has to figure out in which direction it will go
View features section
Country profiles
The latest country profiles from Asset Servicing Times
The Asian market may be improving on the harmonisation front, but the situation is still far from ideal. Experts discuss what there is still left to do
Brazil is hogging the limelight from its South American neighbours. But, although reforms are in full swing, there is still work to be done
Securities Lending Times

Visit our sister site
for all the latest securities lending news and analysis

No nation is an island, and the Polish CSD has post-trade services to cater to all of Central and Eastern Europe, says KDPW’s Iwona Sroka
In a region as geographically, culturally and economically diverse as Asia, funds passports have a tricky road ahead if they’re to redefine the industry
Amid cross-border restrictions and tightened belts, Luxembourg’s kingdom of real estate investment won’t be crumbling any time soon
The Chinese market has taken a knock to its confidence, but despite its size, it is still merely an emerging market, and must take these setbacks in its stride
Rich in sunshine, cork hats and tired clichés, Australia’s funds industry doesn’t buck the trend, boasting record levels of assets under custody
As the Saudi Arabian stock exchange finally opens its doors to foreign investments, the influx from abroad will be in baby steps, not leaps and bounds
View country profiles section
The latest interviews from Asset Servicing Times
Between geopolitical turmoil and the ongoing regulatory challenge, the Luxembourg funds industry remains strong, says ALFI chair Denise Voss
Real Estate Investment Times

Visit our sister site
for all the latest real estate investment news

View interviews section