Compliance Officer, Monitoring and Surveillance Quality Assurance
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 17,000 employees* and a presence in 13 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
Worldwide, BNP Paribas has a presence in 73 markets with more than 196,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.
BNP Paribas offers you an exciting career in an international business environment that is fast-paced, diverse and focuses on creating high-value relationships with our clients. We offer competitive salary and benefits, as well as a working environment where you’re valued as part of the team.
* excluding partnerships
The Monitoring and Surveillance (M&S) teams is a specialized unit within APAC Compliance and primarily responsible for reviews on existing Surveillance platforms, conducting in depth investigations on trading activity and patterns, and refining and building trade surveillance models in accordance with and in anticipation of regulatory expectations and remediation plans.
Additionally the M&S teams work very closely with Business Management, Compliance Advisory, Global Counterparts and IT to monitor for potential market abuse activity, regulatory violations, market manipulation, or suspicious activity. The M&S teams proactively stay abreast of regulatory initiatives in the industry and potential risks to the Bank in order to assess areas to expand or improve surveillance models or reviews. The M&S teams play a critical role in working with the front (1st line of Defense) and supporting areas to perform investigations, when necessary, and to determine and coordinate corrective action. This position will assist in operationalizing the implementation plans in response to regulatory settlements and to support undertakings made to various regulators specifically regarding the continuing evolution and enhancements of the Bank’s surveillance program across all asset classes.
The Quality Assurance (QA) and Model Review (MR) staff for M&S is responsible for independently reviewing the processes of M&S for accuracy, relevancy, proper escalation and closure of issues. In this regard, he/she will be responsible for validating the Bank’s compliance with applicable industry rules and regulations.
• Conduct targeted QA reviews in order to assess and review compliance with legal, regulatory and internal Bank policy requirements;
• Escalate potential issues and exception items noted during the review process to Head of M&S APAC for discussion and further investigation if deemed necessary;
• Prepare and distribute reports to Senior Compliance Management detailing review findings and recommendations; report on significant activities conducted and planned for the upcoming period;
• Identify control gaps and implement remediation plans for issues identified;
• Ensure M&S procedures are enhanced to formalize local controls in alignment with Group requirements, including the gathering and evidencing of supporting documentation;
• Work with others across APAC CIB Compliance on transversal quality control and assurance related initiatives;
• Conceptualize and assist in the developing of new M&S reviews to address emerging trends and identify red flags within the M&S Program;
• Mitigate risks of exposure through process change proposals and escalations of recommendations within M&S through Senior Compliance Management;
• Lead working groups that focus on enhancing controls/quality of the trade surveillance program; define time tables and project plans while focusing on strategic initiatives;
• Assist the Head of M&S APAC with examinations by the Bank’s regulators and internal auditors/IG;
• Assist the Head of M&S APAC with the monitoring and resolution of IG issues.
• Conduct investigations/projects as deemed necessary by M&S/Senior Compliance Management; and
• Drive the institution of a culture of excellence with regard to staff development and performance.
• Test and re-validate the integrity of global and local M&S models/reports including, but not limited to: logic, data inputs/feeds and methodology compared to the current regulatory compliance requirements/standards for trading products across all major asset classes;
• Liaise with M&S analysts and ITO in the development, review, and testing of new automated surveillance models and exception report output to clarify requirements; participate in the process and/or review results and mitigate issues;
• Evaluate and analyze trading “alerts” generated from automated surveillances, exceptions generated from exception reports, and investigate potential trading issues flagged by the business units, for potential flaws in the surveillance logic/methodology;
• Enhance M&S procedures for model review to meet regulatory requirements; document the testing and implementation of enhancements and solutions;
• Identify gaps in internal controls and trade surveillances across asset classes; and
• Interact with Businesses, M&S analysts and Compliance advisory to gather model related information and clarify model related questions; communicate findings and recommendations
Specific Qualifications (if required)
• University graduate with major in Accounting, Business Administration, Economics, Finance or Law or equivalent qualification
• At least 5 years’ compliance / Middle Office / Back Office experience, experience in monitoring and surveillance is preferred
• Experience or specialization in an asset class such as Equities / Equities Derivatives / FI / FX
• Strong knowledge of APAC market regulations, particularly in relation to Equities industry; preferably some exposure to rules and regulations of the HKMA, SFC
• Excellent interpersonal and communication skills, including writing, with the ability to interact effectively with front and back office staff and senior management
• High attention to details
• Strong analytical and investigative skills
• Ability to manage multi task, and handle multiple compliance reviews and projects at the same time and meet deadlines
• Proactive in identifying risks and proposing solutions