LEGAL DATA INTEGRITY ANALYST (M/F)
Standard / Permanent
LEGAL AND TAX
The BNP Paribas Group is a leader in banking and financial services, employing over 184,000 people across 75 countries and 5 continents. BNP Paribas Corporate & Institutional Banking (CIB) is a leading European investment bank with global leadership in many of our businesses. BNP Paribas CIB, with nearly 30,000 employees in over 57 countries, can offer you an exciting and truly global career.
The Collateral Management Operations processes the Net Present Value of the portfolio of trades between BNP Paribas and its counterparties on a daily (or as specified) basis and ensure that this exposure is sufficiently collateralised. Currently the group handles approximately $90 Billion of collateral globally on behalf of the Bank and its counterparties as regulators to require Banks to mitigate counterparty credit risk.
The “Legal Data Integrity” role will ensure that all data profiled into BNP Paribas’ Legal system by Corporate & Investment Banking (CIB) Legal employees globally is accurate & consistently populated, thereby minimising any adverse impact on / cross-contamination of other systems and teams within the Bank.
This role has become a key component of the overall control framework of CIB, as legal data are relied upon by various areas of CIB, including Risks (impact on credit lines), Collateral Management (terms of the master and collateral agreements) and front-office (collateralisation of a counterparty has an impact on prices and P&L).
The objective is to improve the quality of the data in the legal database and, by extension, the quality of data in downstream systems that rely on this data (e.g. Collateral Management, Risk, Front Office, etc.), whilst maintaining the autonomous purpose for which each system was designed and respecting the current mandates of the teams operating those systems.
The scope of the legal agreements covers both repo and derivatives master agreements ((ISDA, GMRA, EFET, GTMA, EEI, FBF, PSA, etc.), collateral agreements (CSA/CSD) and any other types of agreement. In view of the transversality of the subjects, a governance framework has been set up: the work of the team will be determined, prioritised and reviewed by a Project Committee chaired by CIB Legal and attended by Risks, Front Office and Collateral Management Operations
Data and process analysis
- Work with other data integrity teams from Collateral Management, Risks and Front Office:
o to review interdependencies on an ongoing basis between all relevant systems, feeds and current data controls
o to identify gaps in controls
o to reduce overlaps and other inefficiencies
o Identify data quality problems and help to define potential solutions to resolve them (amendments, appropriate system and/or procedural enhancements)
o starting with the backlog in known problematic areas
o taking into account feedback from internal stakeholders
- For material issues (in terms of scope, volume of data affected or impact on systems) write up proposals analysing the issue(s), outlining options and putting forward recommendations, including implementation plans
- For less material issues (i.e. limited in terms of scope, volume of data affected, limited impact on Legal system only), liaise with CIB Legal and the appropriate stakeholders (if relevant) for resolution
- Analyse feeds that include legal data to diagnose data flaws
- Sample all new Master Agreements profiled in Legal system and develop automated queries to detect common errors
Controls - Production
- Correct known data problems in the Legal system which have been approved by CIB Legal or the Project Committee
- Run automated queries aimed at identifying data quality issues or inconsistencies. Analyse the exceptions and correct the errors
- Perform on-going 2nd level controls on legal data to identify suspicious / inaccurate records
- Participate in the validation of the legal data in order to ensure a control during the complete life cycle of a client (amendments, terminations, credit line terminations, mergers, etc) to avoid operational risk
Legal data integrity queries
- Serve as a central contact point for all queries with respect to the Legal system data integrity and liaise with other data integrity teams on an ongoing basis as required
- The ideal candidate will have at least 2 years of experience in Legal or Operations with a particular focus on data quality
- Knowledge of derivative products and legal documentation would be a plus
- Experience using IT systems related to Legal, Risk and Collateral Management
- Strong communication skills are required, with a good level of written (e-mails & legal agreements) and fluent spoken English
- Good computer skills (MS Office, especially MS Excel)
- Risk awareness
- Attention to detail and rigorous in documenting and applying procedures
- Problem solving skills
- Autonomy and ability to work in a changing and dynamic environment