Risk ORM Mandate:
The mission of RISK ORC is to oversee the effective and efficient functioning of the Operational Permanent Control (OPC) framework implemented by business lines and functions (1st line of defense or 1LOD), as well as the measurement and management of Operational Risks (OR). They serve in an independent oversight capacity, as part of the 2nd line of defense (2LOD), ensuring that the 1LOD is fulfilling its Permanent Control (PC) objectives and requirements. RISK ORM’s scope includes the CIB business line, and its supporting operational units and transversal functions across the Americas (US, Canada, Brazil & Latin America).
RISK ORM - BNP Paribas Securities Services:
RISK ORM BNP Paribas Securities Services is part of RISK ORM CIB, acting as the 2nd Line of Defense for the Securities Services Business Line (“BP2S-BL”) in the Americas. The primary role of the RISK ORM BP2S-BL Operational Risk Officer is to provide relevant RISK and CIB/BP2S senior management a comprehensive, transparent, exhaustive and consistent front to back view of Operational Risk across BP2S activities in the Americas.
BNP Paribas Securities Business Overview:
BNP Paribas Securities Services is among the world leaders in the securities services industry. It is present in over 100 Markets worldwide and operates in all classes - equities, bonds, mutual funds, investment funds, listed derivatives, OTC derivatives and alternative funds and structured products.
BNP Paribas Securities Services activities include:
- Clearing & Custody Services: Post-trade transactions, global custody, local and global clearing and settlement on all markets (listed or over the counter), change in ownership, reporting on trading activities, processing corporate actions such as the payout of coupons and dividends and clearing and execution of listed derivatives.
- Asset & Fund Services: Fund administration and calculating fund/portfolio performance, fund accounting, calculating unit redemption values, fund distribution, measuring fund returns, risk monitoring and performance and regulatory reporting.
- Market & Financing Services: Secure clients’ transactions in their market activities, funding and financing as principle actor or agent, forex, securities lending, securities financing, cash management and collateral management.
BNP Paribas is seeking an Operational Risk Officer at the Vice President level to support the coverage of the BP2S-BL across the Americas
The successful candidate will be required to perform various functions including:
- Establish key relationships with the business lines within Securities Services Americas
- Develop an awareness of all Securities Services products and their operational risk impacts
- Oversight over the Risk Control Self-Assessment (RCSA) performed by the 1st line of defense including the effective challenge of the process, the review of the risks identification and assessment, the existence and effectiveness of mitigating factors and controls
- Execute relevant 2nd line of defense independent controls and Testing Program against the Securities Services control framework
- In collaboration with the business and 1st line of defense, participate to the definition and/or improvement of KRIs to monitor the operational risk profile of the entity
- Perform quality control and validation of Operational Risk Incidents and follow on remediation plan implementation
- Tracking and reporting of Audit findings to monitor timely resolution.
- Independent assessment and effective challenge of control plans based on the holistic view of the controls. Ensure sound and follow up of remediation plans.
- Evaluate new products/activities and report on if/how the product or activity affects the entity from an operational risk standpoint working closely with operations, product managers and local/global RISK teams.
- Operational Risk Officers also ensure (i) the consistent extension of the Group and CIB OR policies, guidelines and procedures across BP2S activities, and (ii) the correct implementation and animation of BP2S OR governance through their contribution to:
- CIB Operations and Technology Risk Committee (OTRC) in the Americas
- CIB Internal Control Committee (ICC) at both the local and Group Level
- Operational RISK & Control (OR&C) report at both the local and Group Level
Minimum Required Qualifications
- Bachelor degree in Science, Finance or Audit
- At least 6 years of relevant industry experience (capital market operations covering middle office / back office operations, operational risk management, Securities Services products and processes, audit, controls)
- Excellent written and verbal communication skills.
- Strong Excel, Word and PowerPoint skills
- Demonstrated analytical & organizational skills and detailed oriented
- Bachelor degree in Risk Management is a plus. Masters preferred
- Programming language as VBA or Python a plus
- 40 Act Fund administration and accounting experience preferable
FINRA Registrations Required:
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.