Inspection Générale North America (IGNA) Hub is part of BNP Paribas’ global Internal Audit group (Inspection Générale or “IG”) which is staffed by highly qualified individuals who perform risk-based reviews to provide reasonable assurance to senior management on the adequacy of internal controls and recommend control and efficiency improvements.
The Market Activities Audit team is responsible for the audit coverage of Global Markets, Global Markets Operations, and Risk Global Markets. Specific market activities areas of coverage include Trading, Origination, Distribution, Sales, Order Management and Trade Execution, Risk Management, and Operations across various products including Equity/Fixed Income and Derivatives/Futures. Internal Audit is seeking a candidate for a Managing Director position that will manage the Market Activities Audit team and will report to the Head of Wholesale Audit Oversight, who in turn reports to the General Auditor. As part of a global matrix organization, the Market Activities team is part of the IG Market and Models Audit Line.
Candidate Success Factors:
Candidates will be measured on the following four performance drivers which will dictate how individual impact is considered on the Americas platform:
- Results and Impact
- Leadership and Collaboration
- Client, Customer and Stakeholder Focus
- Compliance Culture and Conduct
Lead and manage of a team of 15+ auditors, responsible for performing Market Activities audit assignments, validation of regulatory and audit recommendations, continuous monitoring, and audit unit risk assessments. The Head of Audit for Market Activities will play a key role in providing reasonable assurance to stakeholders of internal audit activity on Market Activities audits, including Conduct Risk audits applicable to Designated Market Activities.
The ideal candidate has a strong background in Global Markets, is knowledgeable of the specificities of an audit program tailored to Capital Markets Activities; with the skill set to establish and run such a program, along with prior experience in the audit of capital markets and conduct risks. The program is established in liaison with Group IG; it leverages on existing IGNA policies, takes into account industry relevant best practices, and is designed to meet both IIA standards and regulatory expectations.
A strong background in market activities auditing, conduct risk management, compliance risk management, or consulting for Financial Services is a key requirement for this position.
Specific Responsibilities include:
- Manage and oversee timely audit assignments that adhere to IG’s Conduct Audit Methodology (including Audit Guides and Risk & Control Matrices for Capital Markets activities), Central IG’s Global Audit Guidelines (How To), IIA Standards, and IG Policies and Procedures.
- Provide leadership in the execution of the Audit Plan and related audit activities, including the assessment of key regulatory requirements and auditing specific compliance with key regulations when required.
- Review and approve audit related documentation, including Work Program Memos, audit workpapers, and audit reports.
- Promote the use of analytical skills to analyze activities & processes using BNPP Audit Methodology & Tools.
- Take ownership of the quality and reliability of the audit reports, findings and deliverables.
- Add value to the Business by raising relevant recommendations.
- Establish a strong relationship with the Global Markets organization and be the Internal Audit first point of contact.
- Oversee regulatory and audit recommendation validations, including review and approval of validation documentation.
- Manage continuous monitoring activities and adjust the Audit Plan where required.
- Develop the audit staff by directing, training, mentoring, and evaluating team members and recruit talent when required.
- Evaluate new and emerging regulatory requirements and incorporate audit coverage where required.
- Develop effective policies and procedures, addressing heightened expectations in a timely manner.
- Deliver clear presentations to Senior Management and Internal Audit Management.
- Communicate effectively with Bank’s stakeholders, audit committee and regulatory agencies.
- Participate in various governance committees and forums as assigned.
- Adopt and promote strong ethical values.
Year One Critical Success Factors:
- Successfully build credibility through internal partnerships and deliver tangible value in the various areas of responsibility.
- Manage the team, set priorities, and create policies and procedures as deemed necessary.
- Bachelor's degree in applicable and related field (Accounting and/or Finance preferred).
- Minimum of 15 years of Market Activities audit and/or risk experience in the Banking industry, with 5-10+ years in a leadership role.
- Sound foundation in risk based audit approach and strong all round audit skills are required.
- Strong understanding of the relevant risks and controls in market activities areas such as Trading, Origination, Distribution, Sales, Order Management and Trade Execution, Risk Management, and Operations.
- Strong understanding of conduct risk management concepts and related regulatory expectations.
- Excellent verbal and written communication skills to interact effectively with the different stakeholders and regulators.
- Ability to lead a team, liaise with other bank departments, and adapt to new situations.
- Master’s degree.
- Relevant licenses and certifications.
- Direct auditing experience in one or more of the following areas: Capital Markets, Equity/Fixed Income, Sales and Trading, Derivatives/Futures.
- Knowledge of key banking regulations.
- Experience in Risk Management improvement or remediation projects.
FINRA Registrations Required:
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
SEC Security-Based Swap Dealer Associated Person:
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.