U.S. Regulatory Reporting Quality Assurance Specialist
MISSION AND OBJECTIVES
The Intermediate Holding Company (“IHC”) program structured at the U.S. level across poles of activities of BNP Paribas provides guidance, supports the analysis, impact assessment and drives adjustments of the U.S. platform’s operating model due to the drastic changes introduced by the Enhanced Prudential Standards (“EPS”) for Foreign Banking Organizations (“FBOs”) finalized by the Federal Reserve in February 2014, implementing Section 165 of U.S. Dodd-Frank Act.
The Finance Control Department is a transversal function within CIB Finance whose primary roles are:
• to develop and implement a strong financial control framework for CIB Banking and non-Banking entities (such as Broker/Dealers entities),
• to perform 2nd level of controls for controls primary run by other Finance and non-Finance teams, and
• to report on main controls areas, for both local and central needs and requirements.
The Department is responsible for ensuring compliance with Group and CIB Head Office controls guidelines and expanding to adapt with an ever-changing Control environment. In this perspective, the Group is taking additional responsibilities to look after control for local regulatory reporting (mainly to FRB) under US GAAP.
The Group works closely with not only Finance and Tax department but with other functions of CIB NA to provide value added analysis and advisory services to its clients in the areas of financial reporting control.
The Regulatory Reporting Quality Assurance (RRQA) function is responsible for developing and executing the regulatory Control Framework to secure 2nd level control for local regulatory reporting to various regulatory bodies such as FRB, FINRA and SEC, etc. The RRQA team partners with key stakeholders to identify areas of regulatory reporting improvement, including identifying process enhancements.
The transaction testing senior is primarily responsible for performing transaction testing within the RRQA framework to provide reasonable assurance over the quality of the regulatory reports submitted to various US regulators. His/Her main responsibilities include:
• Executing the testing program against the pre-defined framework; maintaining testing workflow tool/application
• Performing testing, maintaining standard test documentation, reviewing work performed by junior team members, and providing training, support, and guidance as needed
• Liaising among RRQA onshore, nearshore, and offshore teams through daily and weekly coordination calls to communicate testing status and escalate issues to ensure transparency and timely delivery of quality testing results
• Partnering with various stakeholders including Regulatory Reporting, Data Governance, front line unites, Financial Reporting, and other relevant teams to collect supporting documents, conduct testing, investigate issues, analyze root causes, socialize and validate preliminary findings and recommendations
• Assisting the onshore team manager in creating metrics and summary on testing status and findings for management reporting
TRAINING AND OCCUPATIONAL EXPERIENCE
• 5+ years of relevant experience in RRQA, audit, Regulatory Reporting, or data sourcing/testing
• Solid understanding and experience of U.S. regulatory reports (i.e. CCAR, FR Y-9C, FR Y-15, FFIEC 002, FR 2900, etc.)
• Strong analytical skills and advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access)
• Strong communication skills (both written and verbal) and interpersonal skills
• Attention to detail and commitment to maintaining a strong control environment
• Solid understanding of financial industry and instruments and developed skills in analysis of business supporting processes from internal control perspective
ESSENTIAL SPECIFIC REQUIREMENTS
• Accounting degree
• Minimum 2 years of experience in regulatory reporting quality assurance or audit of banking and IHC or equivalent experience in consulting of FRB reporting process
• CPA/CA or equivalent preferred
• Big 4 and global financial services industry experience preferred
A recruitment policy that promotes equity and diversity:
Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.
We pride ourselves in applying non-discrimination rules to all our recruitments.
We will only contact the candidates selected who meet the job requirements in terms of training and experience.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 195,000 employees, including more than 148,000 in Europe. The Group 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. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About BNP Paribas in Canada
In Canada, BNP Paribas is one of the dominant foreign banks in the country and is committed to building its platform even further. Since becoming the operational hub for the Group’s activities in North America in 2013, it has grown significantly to reach more than 700 employees and is expected to continue growing in the coming years. With the continued development of technology and financial fields, BNP Paribas Canada continues to attract experts with diverse backgrounds as well as young and ambitious talent from across the globe. With the international mobility and capacity that very few companies can offer, BNP Paribas prides itself in providing a superior foundation for building a professional career - a place for people to learn, to achieve and grow.