Model Validator Compliance

In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal's Top Employers in 2024. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of BNP Paribas or in one of its subsidiaries based in Montreal.

The position at a glance

RISK Independent Review & Control (RISK IRC) is a special unit within the RISK organization and reports directly to the Group CRO. The independent review arm of the department provides second line of defense for the use of various types of models and, accordingly, is in charge of model risk management. RISK IRC is composed of a Model Governance team and several Model Validation groups. The Model Validation groups are responsible for performing an independent effective challenge of the modelling choices in accordance with internal policies, procedures, and standards under different regulations, such as the Federal Reserve Board letter SR11-7. In addition, RISK IRC participate to validation projects for the BNP Paribas Group based in Europe.

In detail

·         Conduct independent quantitative reviews of the models used within BNP Paribas in accordance with internal standards and regulatory guidance.

·         Conduct assessment of surveillance controls by sampling, providing overall ratings and analytics.

·         Provide challenge of conceptual soundness, reasonableness of model output, implementation and any other relevant modelling aspects impacting fit-for-use.

·         Work with validation managers to develop an appropriate validation plan to provide effective challenge commensurate with the level of model risk.

·         Work closely with stakeholders in Compliance stream - as well as with vendors - to help BNPP be compliant with model validation requirements in all the areas we service.

·         Prepare and present written information in a clear, concise, grammatically correct, and convincing manner; distribute reports to senior management detailing risk assessment and concerns.  

·         Identify and provide suggestions to enhance surveillance control framework and/or assessment of controls methodology. 

·         Achieve objectives within tight time constraints while balancing competing priorities.

The strengths and skills that will help you succeed

Minimum Required Qualifications

• Master’s degree in Finance, Economics, Statistics or any other related quantitative field.
• 3+ years of experience validating or developing models related to market risks, or BSA/AML, Fraud, OFAC and financial crime models – ideally those relevant to banking activities.
• Attention to detail and ability to manage multiple undertakings simultaneously and with different level of granularity, with a focus on priorities and deadlines.

• Programming experience in statistical or mathematical languages such as Python, R or SAS.
• Experience producing high quality written technical documentation.
• Excellent communication and synthesis skills in addition to critical thinking capabilities and passion for learning.
• Knowledge of the English language.

Preferred Qualifications:

In addition to the minimum requirements, it is desirable for the candidate to be able to demonstrate:

• Knowledge of the regulatory requirements (such as SR11-7, Basel, etc.)
• Exposure to trading desks, electronic trading market and securities industry.
• Strong knowledge of US banking regulations (e.g. SEC, CFTC and exchanges) and associations under such federal agencies, including FINRA, NYSE, CBOE, ISE, CME, NYMEX and ICE US. 

• Quantitative and statistical knowledge of AI and ML techniques, predictive modeling, statistical inference and probability, clustering, etc.
• Familiarity with US trading platforms (NTS).
• Knowledge of financial products (Fixed income, Equity derivatives, commodities, etc.).
• Familiarity with OCC/NYDFS standards or other similar regulatory requirements globally.

What’s in it for you

In addition to competitive compensation, we offer flexible benefits including a family and spouse insurance program, a defined contribution pension plan and paid days for volunteering. Hybrid work arrangements, such as remote working up to 50% and flexible working hours are available for most positions. BNP Paribas provides excellent training and personal development programs, as well as opportunities for career development within the company and internationally.

To find out more about our range of benefits, click here

What you need to know

·         We will review candidates as they apply, so don’t wait to submit your application;

·         BNP Paribas is committed to accessibility and inclusion. If you need any accommodation during the recruitment process, you can contact accessibility [at] us.bnpparibas (dot) com

·         You must be legally eligible to work in the Greater Montreal area and, if applicable, hold a valid work or study permit. Physical presence in BNP Paribas’ office(s) is an essential function of this position;

Diversity, Equity and Inclusion (DE&I) at the heart of our commitments

At BNP Paribas all employees are on an equal footing allowing us to create a work environment that values and respects people for their talents, skills and competences.

BNP Paribas recruits, employs, trains, compensates and promotes regardless of race, religion, colour, national origin, sex, disability, age, and other protected status (Employment Equity Act and Canadian Human Right Act).

To learn more about our DE&I commitments, click here

About us

BNP Paribas is the top bank in the European Union and a major international banking establishment. Present in 63 countries, with more than 180,000 employees, the bank holds key positions in several areas of banking and financial services.

BNP Paribas’ mission is to contribute to a responsible and sustainable economy by financing and advising its clients according to the highest ethical standards, while striving to respond to essential concerns in terms of the environment, regional development and social inclusion.

Since 1961, BNP Paribas has supported large Canadian companies and institutions in their business development by offering a full range of specialized financial services and investment products.

With over 1,400 employees, BNP Paribas in Canada continues to attract experts from diverse fields as well as ambitious young talent from around the world. We are proud to offer our employees a rewarding and international workplace where they can build their professional careers by honing their skills, meeting challenges and enriching their knowledge of the financial industry.

Our certifications and partnerships

·         Montreal’s Top Employers 2024

·         Canada’s Best Diversity Employers 2024

·         Women in Governance  – Parity certified -  Platinum certification

·         Pride at Work Canada

·         Rainbow Accreditation issued by Canada’s LGBT+ Chamber of Commerce (CGLCC)

·         Part of Les Affaires top 300 companies in Quebec

·         Synclusiv

·         Ready, Willing and Able

·         Autisme sans Limites

·         LinkedIn Top Companies 2024

Do you want to discover other BNP Paribas offers in Canada?

Click here: BNP Paribas in Canada Our job offers

** Only selected applications that meet the requirements of the role will be contacted **