Risk and Compliance provide risk and compliance services across all BNY Mellon businesses. Organizationally, Risk and Compliance includes the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Risk Management is organized through Chief Risk Offices for each core business and critical operation. Risk managers provide shared support to BNY Mellon for operational risk services for Global Corporate Trust, Depositary Receipts, Treasury Services and Global Operations in EMEA. Compliance helps ensure BNY Mellon’s businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethics. This is accomplished through business- and business partner-specific teams of professionals, under centralized global management.
Description
Job Purpose: (What the job role involves)
This is an operational credit risk role, providing trade release and credit advice to the EMEA business lines. You will work independently and with limited supervision reviewing bank’s counterparty ratings for both Asset Servicing and Global Markets exposure, making use of scorecard methodologies to determine and then propose a rating. This is a fast paced, high volume environment requiring exceptional organisational skills, stakeholder management and strong communication skills.
Training will include an introduction to techniques for determining and analysing specific company/fund/industry risks and mitigating factors, internal rating process and common transaction types. Interaction will consist of credit discussions related to business, industry, economic environment, opportunities, relationship background and consideration of credit and structure.
Responsibilities: (Key parts to the job role)
- Recommending Obligor Ratings for Asset Servicing Portfolio. Typical counterparties including mutual funds, pension plans, endowments, foundations and to a lesser extent insurance companies and banks.
- BNYM uses scorecard methodology in assessing Obligor Risk Ratings. Having a clear understanding of the scorecard’s underlying factors and weights and properly use them in assessing quality of fund managers / plan sponsors, liquidity and quality of underlying securities, develop a comprehensive view of the credit approval environment.
- Process includes coordinating with other Analysts and wider team, reporting statistics on team’s rating process and providing with progress reports.
- Organize appropriate document storage and library and make sure all pertinent customer information and documentation used in support of assessment is made available for further reference.
GFC monitoring: Approval of trades and cash payments that stop in GFC (Global Funds Control) system within allocated credit authority. You will be releasing items and in some instances “pending” (waiting to see if a credit comes in) or declining them due to unfavourable credit decision. To this end, you will consider asset coverage, standing of the borrower, cash flow and legal documentation. You will take into account various elements in order to make the decision including borrower rating, nature of transaction, size of excess relative to limits, asset coverage, and future value funds in evidence, historical experience. Interaction with Operations and Client Servicing team will be necessary as well as with Operational Credit teams in Brussels, New York and Singapore to ensure credit officer coverage is maintained at all times.
Custody Overdraft monitoring and reporting consists of uploading data provided from different sources into MS Access database, consolidating overdraft numbers, completing data base with explanations on largest items, production of daily reports to be sent to the relevant BNYM SA/NV and BNYM Brussels Branch Management Team.
Task requires occasional chasing of Client servicing team. Accurate daily recording is essential for future periodical reporting.
Qualifications
Requirements; (what we are looking for)
The successful candidate will be an experienced operational credit risk professional with previous experience of working in a large matrix banking organisation. You will also have, but not limited to:
- University degree with previous experience of working in an operational / product credit department.
- Exposure or previously worked in a trade release function and some credit analysis experience is desirable.
- Product exposure: FX, fixed income, equities, custody, trade settlements.
- Excellent communication skills with the ability to effective influence and advise senior business heads with suitable solutions.
- Ability to work under pressure and to tight deadlines.
- Naturally inquisitive, confident to challenge and ask questions, in order to make the right decisions for the bank.
- Self-motivated team player with the ability to drive delivery.
- Previous experience of working in a complex large banking / financial institution is required.
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