Business Overview:
The Global Banking Regulations (“GBR”) group is a Compliance global team covering Structural Banking Reform (CFTC Swap Dealer, SEC Security-Based Swap Dealer, French Banking Law, and Volcker Rule). With respect to the CFTC Swap Dealer and the SEC Security-Based Swap Dealer requirements, GBR’s key missions are to:
- Organize and contribute to supervise the compliance program for Swap Dealer rules, both within the registered perimeter and for unregistered entities;
- Monitor, analyze and advise on the implementation of proposed and final rules promulgated by the CFTC, SEC and NFA on swaps and security-based swaps;
- Oversee the Volcker Rule and French Banking Law compliance program in the Americas region.
- Report and escalate to senior management; regulatory developments, progress on regulatory initiatives, issues, violations or other matters of interest.
Candidate SuccessFactors:
Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:
- Results and Impact
- Able to influence peers and team.
- Demonstrates good judgement when making decisions of high complexity and impact.
- Exercise appropriate autonomy in the execution and delivery of work.
- Responsible for driving outcomes, which have meaningful effect on team or department.
- Leadership and Collaboration:
- Creates trust with colleagues.
- Acts in leadership capacity for projects, processes, or programs.
- Client, Customer and Stakeholder Focus:
- Able to build relationships with a mix of colleagues and clients.
- Interacts regularly with management and department leaders.
- Demonstrates the ability to influence stakeholders at the team level.
- Compliance Culture and Conduct:
- Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
- Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.
Responsibilities:
In addition to the general roles described below the Senior Swap Dealer Compliance Officer will also:
- Provide coverage as and when required of senior management meetings (for example; Swap Dealer Operating Committee, Swap Dealer Management Committee, Sec Corp CEO monthly meeting) at the direction of the Head of GBR U.S.
- Act as subject matter expert for all matters relating to the Swap Dealer.
- Participates in the preparation, and timely filing, of various swap dealer reports, including NFA Member Questionnaire, Annual CCO Report, Risk Exposure Report and NFA Monthly risk report (as needed).
- Serve as additional regulatory compliance contact for the CFTC and NFA on certain complex inquiries, audits and enforcement actions.
- Notify management immediately of any identified regulatory risks, and deliver all work product in a timely manner.
For the regulations that are primarily within the scope of responsibilities of the Global Banking and Regulations team such as the CFTC Swap Dealer regulations and other new regulations, the Senior Compliance Officer will participate in the following duties for the U.S.:
- Monitor and analyze proposed and final rules promulgated by U.S. financial regulators.
- Represent BNP Paribas in industry working groups dedicated to advocacy, interpretation and implementation of new and proposed regulations.
- Assess the impact of new rules and regulations to existing policies in the U.S. and overseas, and work with local and global implementation teams to implement regulatory change.
- Provide regulatory guidance to local and overseas management, business lines, and functions, and on regulatory risks and challenges through the evaluation of regulatory developments, bring relevant expertise and provide advisory services to the Business Lines and Group Control Functions on the above regulations.
- Advise the Business Lines and Functions on registration requirements for existing and proposed activities
- Draft and adapt Group policies, procedures and guidelines to reflect any change in regulations or processes, reasonably designed to support compliance with applicable regulatory obligations, corporate requirements and industry best practices.
- Participate in the development and implementation of strategic initiatives if required.
- Contribute to build and deploy Level 2 permanent control capabilities, advise and assist (as needed) Compliance Review Team efforts in their testing of first- and second-level controls related to in-scope regulations; contribute as needed the risk assessment at Group and business unit levels in coordination with relevant internal and external parties as the case may be.
- Contribute to the deployment of a robust training plan at Group level and definition of the standards in conjunction with GBR training referent HR partners. Develop training materials and provide training to other compliance advisors, the business and key functions.
- Facilitate audits and controls by level 3 control teams (Inspection Générale) and external regulators
- Contribute to responses to external regulators, both on a regular basis as per legal requirements, and upon request.
- Contribute to any internal reports and regional governance required within the Group (e.g. CIRCC, ComEx, Management Committees and Board meetings).
- On a case-by-case basis, provide Advisory services to the Business for specific new transactions or activities for which LEGAL, RISK and/or Compliance desk advisory teams require definitive GBR position and/or require a supporting second opinion.
- Participate in the Business Line governance as needed and cascade of review meetings if agreed with the business lines (ex: sub-ICC participation within CIB).
Minimum Required Qualifications:
- 5-10 years investment banking experience with a broker-dealer, swap dealer, and/or related legal or regulatory experience (e.g. Former Securities and Exchange Commission).
- Working knowledge of US and International G10 regulations in the area of structural bank reform and OTC derivatives; ability to provide oral and written advice on the go.
- Strong capabilities to spot and anticipate issues when reviewing the Risk Assessment and Internal Control plans.
- Strong organizational and project management skills (documentation, issue tracking, effective coordination). Ability to frame and document complex issues in order to prepare for senior managers decisions
- Strong interpersonal skills in order to foster collaboration within the team and with key partners: Legal, other Compliance teams and departments, Risk-ORM, operating perimeters and other control functions.
- Strong communication skills with the ability to communicate clearly and succinctly on complex and possibly sensitive topics to C-level managers in the BNP Paribas regional and central organization
- Keen sensitivity to risks; rigor and independence in addressing those risks
- Strong work ethic and Compliance mindset; integrity and an ability to work autonomously
- Strong team player.
Preferred Qualifications:
- JD or MBA, with preference to Business or Finance majors.
- 5+ years of relevant experience in a Swap Dealer Compliance office position or similar role in Compliance/Legal or Risk departments covering above-referenced regulations.
- Working knowledge of Volcker Rule requirements, and experience overseeing a Volcker Rule compliance program
FINRA Registrations Required:
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
SECSecurity-Based Swap Dealer Associated Person:
The expected starting salary range for this position is between $115,000 to $190,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.
In addition, our comprehensive benefits package- aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time-off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.
This application will remain open until a candidate has been selected for the role. There is no specific application timeline.
About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65countries, with nearly 190,000 employees. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate& Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.
As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose -to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impacted be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be aworkplace where all team members can grow and thrive and offer robust training,development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential.
BNP Paribas. The Bank for a Changing World - https://usa.bnpparibas/en/homepage/join-us/our-opportunities/
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.
