Department Summary
Responsible for all compliance duties undertaken in accordance with applicable Channel Islands regulations, BNP Paribas policies and procedures and roles as described in the Compliance Charter.
Main Job Purpose
To support the Line Manager and Compliance Function in the day-to-day execution of the compliance framework of BNP Paribas Channel Islands, ensuring activities are organised and executed in accordance with the requirements of the applicable regulatory framework, professional and ethical standards. Scope includes the domains of financial security (FS), market integrity (MI), protecting the interests of clients (PIC), professional ethics (PE), certain banking and fiscal regulations and certain regulatory topics falling within the remit of the Compliance Function as may be directed from time to time. This scope includes the related transversal responsibilities such as compliance monitoring, training, contributing to policies and procedures, maintaining registers, advising business teams and reporting.
Key Responsibilities
· Keep the business line management as well as the Compliance Department appraised of developments in terms of the laws, regulations, codes of conduct or standards within the compliance area applicable to the activities, and provide guidance on the interpretation and application of the requirements. Assist with providing advice and alerting the entity management and employees on matters of compliance.
· Analyse and advise on local regulatory texts that relate to the above-mentioned topics, including, but not limited to, the Jersey Codes of Practice and the Jersey and Guernsey AML/CFT/CPF Handbooks.
· Foster an open and transparent relationship with the financial services regulators. This includes contributing to any requests, visits and inspections, as well as timely notifications to the regulators of any reportable matters.
· Implement and/or follow up recommendations made by the General Inspection, audits (internal or external) and the regulators, regarding the compliance risks, with the entity management.
· Provide support and advice on AML/CFT/CPF and sanctions issues and the potential regulatory, criminal and reputational risk associated with new and existing clients. Act as entry point for complex or technical due diligence issues.
· Provide independent judgment on any professional ethical matters, such as personal account dealing, gifts and entertainment, conflicts of interest, whether they relate to internal (within the company) or to external matters (including clients’ complaints).
· Act as an entry point to provide expertise and advice on matters within the Compliance domains. This includes advice in respect of:
· The interpretation and application of policies, procedures and guidelines.
· Providing an opinion with respect to specific cases in accordance with policies and procedures (respecting authority as set out in the Compliance Decision Making Policy).
· Client KYC files.
· Routing and escalating identified issues to Group Compliance when appropriate.
· Identify, evaluate and mitigate compliance risks by examining all new activities, products, and exceptional transactions to ensure compliance with regulatory and BNP Paribas requirements. Contribute to the Compliance Risk Management System (CRMS) annual questionnaires and assist with the check and challenge of the Risk and Control Self-Assessment (RCSA).
· Assist with the comprehensive compliance monitoring plan covering the key regulatory requirements, ensure major findings are reported to the entity management committees (as appropriate) and follow-up corrective actions, in conjunction with permanent controls.
· Identify, receive, record and follow-up regulatory breaches, compliance-related incidents and compliance-related complaints, advise on relevant actions to avoid re-occurrence and ensure that corrective measures to compliance-related problems have been implemented in an appropriate manner and have proved their effectiveness. Ensure registers are maintained for accurate record keeping.
· Maintain and execute systems and controls (including policies and procedures) in line with evolving requirements within the compliance area.
· Access the tools and analyse alerts issued by Group for detecting money laundering, sanctions hits, market abuse and monitoring suspicious activities.
· Assist with the implementation and organisation of the CI Securities Services Compliance framework in terms of FS and the fight against bribery and corruption.
· Contribute to the development and maintenance of a training programme with the support of HR to ensure that all staff are appropriately trained on compliance requirements within the compliance area and maintain a strong compliance culture with the support of the entity management.
· Assist with reports on compliance risks and activities to the management committee / boards in order to inform on regulatory developments in terms of compliance, to report on progress of compliance actions and to alert on risks of an ethical or compliance related nature. Represent the department in various board and committee meetings as part of the corporate governance framework.
· Act in the capacity of specified roles as defined by BNP Paribas Group and/or local regulation as may be agreed with the Line Manger from time to time, for which supplemental statements of responsibilities apply:
· Nominated Officer
- Deputy Money Laundering Compliance Officer
Technical Skills
Essential Requirements
· Knowledge of applicable Channel Islands regulations.
· Strong written and verbal communication skills.
· Strong record keeping skills and ability to manage data.
· Ability to analyse problems and work independently to propose solutions.
· Ability to interpret, apply and advise on regulatory requirements as may be introduced or developed from time to time.
· Good computer literacy across a variety of common applications.
Qualifications & Professional Experience
Essential Requirements
· Previous experience working in financial services and ideally a compliance team.
· Recognised professional financial services qualification. Qualifications in compliance, risk, governance, accountancy and/or law would be ideal.
Competencies
Essential Requirements
· Integrity
· Risk management ability
· Analytical skills
· Ability to report
· Organisational skills
· Adaptability
Training
· All employees complete on-line AML/CFT/CPF and sanctions, market abuse and ethics related training.
· The employee is expected to keep up to date with regulatory developments.
· Full training on systems and controls.
Qualifications Supported
· International Compliance Association “ICA” (compliance related).
· Other applicable qualifications as agreed with the Line Manager.
Regulatory Requirements
· No regulatory threshold competency is required for the role.
· Current CPD requirement: 25 Hours
· Is the employee a “Principal Person”*? No
· Is the employee a “Key Person”*? No
· Is the employee a “Senior Manager”*? No
*according to the meanings given under Article 1(1) of the Financial Services Commission (Jersey) Law 19981 as supplemented by the Commission’s Notice designating “senior management functions” dated 12 January 2023 and effective 13 March 2023.
