As the leading European Union bank, and one of the world’s largest financial institutions with an uninterrupted presence in the region since 1860, BNP Paribas offers a wide range of financial services for corporate, institutional and private investors spanning corporate and institutional banking, wealth management, asset management and insurance.
We passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued and encourage applicants of all backgrounds, including diversity of origin, age, gender, sexual orientation, gender identity, religion applicants who may be living with a disability. We have a number of internal employee networks in place to empower our staff to act and challenge the status quo.
•BNP Paribas PRIDE is highly active in favour of the LGBTQIA+ community
•BNP Paribas MixCity which fosters better representation of women at all levels of the organization
•Ability, the mutual aid network for employees with a disability or a disabling or chronic illness
•BNP Paribas CulturAll which celebrates diverse backgrounds
BNP is committed to financing a carbon-neutral economy by 2050. The Group is a founding member of the Net-Zero Banking Alliance and has set up its own Low Carbon Transition Group to support its clients through their energy transitions.
https://careers.apac.bnpparibas/
Award Obtained
BNPP has won Top employer Europe award in a 10th consecutive year
What is this position about?
-Act as an internal controller under the Operational Permanent Control (OPC) framework for Wealth Management covering both Hong Kong & Singapore, following the control guidelines and methodologies provided by the Group / Head Office / Regional OPC Management. Ensure the suitability obligation expected of client facing staff for selling investment products and the appropriateness and suitability principles to be followed.
Primary Role Responsibilities
-Act as an internal controller under the Operational Permanent Control (OPC) framework for Wealth Management covering both Hong Kong & Singapore, following the control guidelines and methodologies provided by the Group / Head Office / Regional OPC management.
-Perform Key Surveillance Points (KSP controls) related to the suitability obligation for selling process of financial instrument, including review the conversation between Front Office and clients to assess whether the necessary controls have been executed in accordance to the regulatory requirements and framework.
-Collate raw data & information and gather relevant information from internal stakeholders to perform the preparatory works (i.e. data analysis, sampling selection, test steps conduct the tests and data analysis to assess the adequacy and effectiveness of the system of the internal controls.
-Ensure the consistency and compliance of operational activities falling under the scope of the KSPs. Analysis work will involve making reference to internal policies, regulatory requirements, information from various internal sources (including IT systems), previously detected cases / escalated alerts. For cases requiring further clarification, the controller is required to communicate with the relevant internal stakeholders including Front Office, Compliance, Legal, Operations, product specialist to obtain previsions or justifications.
-In case of detection of breaches with internal processes and procedures, investigate the root cause of the deviation and propose relevant remediation actions, in collaboration with the internal stakeholder involved as well as the Domain Lead.
-Ensure proper and detailed documentation of the control preparation (including sampling), execution and results.
-Provide regular management reporting to the Domain Lead, the Head of Permanent Controls WM APAC, the Head of Conduct & Control WM APAC and the management of WM APAC on the overall level of risk and outcome of KSP controls.
-Provide subject matter expertise on suitability obligation for selling process of financial instrument and contribute to the management and maintenance of Control Methodology documentations, Coversheets, and other internal guidelines/documents.
-Participate in projects by providing inputs and requirements from a control perspective. Identify areas or process for improvement which brings efficiency to the team.
Other contributions
-Play a proactive role to continuously review and assessment on the effectiveness and adequacy of the controls.
-Identify and drive opportunities to enhance efficiency and effectiveness of Bank’s business and Control processes.
-Effective communication with cross functional groups to facilitate the decision making process relating to Control matters.
-Take on ad-hoc projects as assigned by Department Head.
Technical and behavioral competencies
-Good understanding of the WM business procedures and policies, product knowledge, related risk of the process and products, and the relevant risk mitigation and controls procedures for selling process of financial instrument.
-SG & HK Regulatory requirements knowledge for suitability obligation for selling investment products and the appropriateness and suitability principles.
-2 to 5 years of experience in Audit or Operational Risk or 1st or 2nd lines of defense, in the relevant areas.
-Team player, mature and independent, good interpersonal skills.
-Meticulous, good analytical & communication skills. (both verbal and written)
-Good PC skills, Advanced Excel, Python, Power BI and Visual Basic (VBA) skills.
Required education/certification/licenses
-Tertiary education.
-Professional certification in Compliance or Operational Risk, will be an advantage.
