Senior Associate, Trustee & Depositary Funds Oversight

Job description

Bring your ideas. Make history. BNY Mellon offers an exciting array of future-forward careers at the intersection of business, finance, and technology. We are one of the world's top asset management and banking firms that manages trillions of dollars in assets, custody and/or administration. Known as the "bank of banks" - 97% of the world's top banks work with us as we lead and serve our customers into the new era of digital.

With over 238 years of rich history and industry firsts, BNY Mellon has been built upon our proven ability to evolve, lead, and drive new ideas at every turn. Today, we're approximately 50,000 employees across 35 countries with a culture that empowers you to grow, take risks, experiment and be yourself. This is what #LifeAtBNYMellon is all about.

We are seeking a future team member for the role of Senior Associate to join our Depositary Funds Oversight team with a focus on funds' investment restrictions. This role is located in Luxembourg and is hybrid - 3 days from the office.

• You will be an integral part of a dedicated team, which monitors investment restrictions for UCITS and AIFs to ensure a full compliance of the funds' portfolios with the applicable product laws, prospectus/PPM restrictions, and articles of incorporations.


• You will also follow-up on active and passive breaches to ensure that impact calculations are calculated accurately and relevant information is provided to the regulator.


• In this role, you will also conduct thorough and comprehensive assessments across the five oversight duties of the depositary, encompassing both traditional and alternative funds.


• You will play a crucial role in identifying exceptions during these assessments, documenting findings, and ensuring that each exception is diligently followed up and closed.


• Your responsibilities will also include maintaining strong client relationships, ensuring superior quality of service, and positioning BNYM Depositary as a value-added service.


• You will provide guidance to less senior colleagues and act as a reliable backup to assist the manager when needed.


• You will also actively contribute to enhancing assessment methodologies and technological solutions.

To be successful in this role, we are seeking the following:

• Bachelor's degree or the equivalent combination of education and experience is required


• Experience of working in a Depositary, Fund Administrator, Management Company/AIFM or an Audit Firm is required


• Knowledge of investment restrictions monitoring systems (e.g., CRD)


• Excellent knowledge of product laws (e.g., UCITS, SIF, RAIF, ELTIF, etc.) in terms of investment restrictions


• Excellent knowledge of the following CSSF Circulars: 2002/77, 16/644, 18/697, ESMA Guidelines 10/788)


• Good knowledge of derivative instruments (definition, application, and exposure calculation)


• Good knowledge of regulatory requirements and industry best practices; in particular for investment restrictions (e.g., AIFMD and UCITS V Regulations)


• Good knowledge of the ManCo/AIFM and its delegates' roles


• Fluent English skills (verbally and written)


• Strong analytical skills with meticulous attention to detail


• Ability to plan effectively, with strong deadline orientation


• Effective communication and interpersonal abilities


• Process Improvement experiences/ LEAN skills e.g. to design/establish new detailed processes, documentation skills, e.g. procedures/manual


• Ability to identify logical and innovative solutions to complex problems;


• Possess good understanding of data migration, testing and reconciliations.

At BNY Mellon, our inclusive culture speaks for itself. Here's a few of our awards:

• Fortune World's Most Admired Companies & Top 20 for Diversity and Inclusion


• Bloomberg's Gender Equality Index (GEI) • Best Places to Work for Disability Inclusion, Disability: IN - 100% score


• 100 Best Workplaces for Innovators, Fast Company


• Human Rights Campaign Foundation, 100% score Corporate Equality Index


• CDP's Climate Change 'A List'

Our Benefits:

BNY Mellon 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 that can support you and your family through moments that matter.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.