Compliance Officer, FI/Credit Global Markets
Standard / Permanent
COMPLIANCE AND PERMANENT CONTROL
BNP Paribas has a presence in 75 countries with more than 185,000 employees, including 145,000 in Europe. It ranks highly in its two core activities: Retail Banking & Services and Corporate & Institutional Banking (CIB). BNP Paribas Corporate & Institutional Bank is a leading European investment bank with global leadership in many of our businesses. With nearly 20,000 employees in over 45 countries, CIB can offer you an exciting and truly global career. At BNP Paribas CIB, we work continuously on behalf of our clients, helping them to realize their projects around the world. You can be an important part of this, helping us to serve our clients both in mature and emerging markets, providing them with financial solutions across a diverse range of expertise, products and services. Our origins lie in Europe, but nearly a quarter of our employees now work in our multi-award-winning Asia Pacific offices and we are a committed player in all markets. Strong risk management, combined with the stability that comes from being part of one of the largest banking groups in the world, underpin our success. Joining us, you’ll become an integral part of a dynamic team that spans nationalities, cultures and backgrounds, drawing together people from around the globe and reflecting our commitment to international placements.
Overall Job Purpose
Markets Compliance provides support to the London Fixed Income, Equities and Commodity Derivatives businesses. This position will cover Fixed income Trading activities, with a focus on Credit. Markets Compliance is also required to provide cohesive guidance in respect of Benchmarks, Algo/High Frequency Trading and e-commerce initiatives. To enhance our support to the Fixed Income business we are looking for candidates at varying levels of experience who can demonstrate sound product knowledge predominantly across a combination of FX, Rates and Credit.
- Provide day to day support for the Fixed Income businesses from an advisory compliance perspective based on the trading floor
- Dealing with and answering regulatory and exchange trading related questions that arise from the business
- Provide advice on compliance issues related to transactions, products or business of the Fixed income businesses in London
- Contribute to the new activity / transaction approval committees as necessary
- Contribute to the relationship with local Regulators in support of the Head of Markets Compliance and the UK Head of Compliance
- Advise the business on the impact of exchange rules and regulatory changes
- Contribute to the definition and implementation of monitoring procedures to identify actual or potential market abuse scenarios, insider dealing activities, conflicts of interest and other compliance risks
- Contribute to the design and delivery of compliance training for the Global Markets Business
- Elaborate the compliance policy in the Territory, as directed by the Head of UK Compliance and in accordance with the compliance general policy of the Group and CIB
- Seek to ensure proportionate implementation in the relevant Entities of the Territory by taking into account their potential specificities and relevant regulations
- Provide advice on compliance issues related to all transactions, products or businesses of the relevant Métiers occurring in the Territory (and saving of records of advice provided)
Seek to ensure application of compliance controls related to all transactions, products or businesses of the relevant Métiers in the Territory (and saving of records of checks performed), including notably:
- that analysis of transactions takes place according to Group and CIB norms, standards and processes
- that there are in place procedures that seek to ensure an audit trail and a record of transaction analysis
- To alert the Head of Markets Advisory and, where relevant, the Head of UK Compliance and appropriate Global Heads of Compliance / Compliance Officers Métier on local laws and regulations impacting their Métiers
- Contribute to the new activity / transaction approval committees (TAC, NAC and others) as necessary (including via pre-NAC and TAC processes), liaising as relevant with the CIB Compliance Transversal Team to prepare TACs on cross-border transactions
- Alerting the Head of Markets Advisory and the Head of UK Compliance of all significant and urgent compliance matters/issues and, where appropriate, systematic escalation of all significant transactions / arrangements via the Head of Primary Advisory & Central Compliance and the Head of UK Compliance to the concerned Global Head of Compliance
- Contribute to the relationship with local Regulators in support to the Head of UK Compliance
- To provide input to compliance-related reporting to the Head of UK Compliance, and as relevant Global Heads of Compliance, in accordance with Group or CIB Compliance templates and on timely basis
- To be aware on an on-going basis of key applicable laws and regulations and market practices through reading, training
As appropriate to seek to implement Regulatory, Group and CIB standards against market abuses, etc.
- In collaboration with the Risk Assessment Team, and as relevant the CIB Compliance Transversal Team, to contribute to the definition and implementation of monitoring procedures to identify actual or potential market abuse scenarios, insider dealing activities, conflicts of interest and other compliance risks
- In collaboration with the Risk Assessment Team, and as relevant the CIB Compliance Transversal Team, to contribute to the definition and implementation of monitoring procedures to check that customers are treated fairly, in accordance with Group and CIB standards and local regulations, in relation to the execution of their orders and/or the terms and conditions of their transactions
- To assist the Control Room as appropriate by seeking to ensure that the business provides information to allow for the maintenance and update of the conflicts register, watch list, restricted list and insider lists
- To work with Control Room and the business as appropriate to seek to ensure that Chinese walls are satisfactorily set up and maintained
Where appropriate, to assist the Head of Compliance Training in compliance awareness-raising and information towards relevant staff in the UK., including for example via:
- providing orientation on compliance issues to new employees
- contributing to the design and delivery of compliance training
- Where appropriate, to assist the PA Dealing/Outside Business Interests Officer with the implementation by the business of the relevant Group, CIB and UK requirements
Day-to-Day CIB Compliance Operations
- To assist in the appropriate implementation of Group / CIB policies and procedures
- To help ensure the delivery of day-to-day operational compliance activities in the Territory (including putting in place appropriate systems/processes to manage compliance risks, execution of compliance operational permanent controls, internal investigations on compliance matters, etc.).
- Where appropriate, to assist the Control Room in enhancing/implementing policies and procedures relating to the management of conflicts of interest and the management of confidential information - and ensuring that the business lines understand and observe these requirements.
- As required, to contribute to committees by representing the UK Compliance function, or CIB Compliance
Risk Identification and Management Tools
- Contribute to the set up, implementation and operation of risk identification and management tools designed by Group, CIB C&C Functions, and UK Compliance.
- Contribute to the implementation within Métier environment of Regulatory, Group and CIB standards against money laundering, fraud, corruption, terrorism, etc.
Projects and Initiatives
- As directed, to contribute to UK, regional or global projects with a view to ensuring that they are delivered effectively and efficiently
Legal and Regulatory Responsibilities
- Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the London Compliance manual and Compliance policies and procedures as issued from time to time; Financial Crime Prevention requirements, including, but not limited to, the prevention of Financial Crime and Fraud including reporting obligations to the Money Laundering Reporting Officer.
- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence
- Experience of working in the Compliance department of a major investment bank preferable
- Knowledge of the rules, regulation and functioning of the major Global Commodities exchanges e.g. ICE, CME, LME etc., is essential. Experience of others including LIFFE and EUREX preferable but not essential
- Prior experience of providing compliance advice in respect of Benchmarks, Algo/High Frequency Trading, e-commerce initiatives
- Experience of handling exchange enquiries and audits
- Experience of current regulatory environment and regulatory change i.e. Dodd Frank, MiFID II, EMIR etc. essential
- Sound judgement and a commercially minded pragmatic approach
- Good communication (oral and written) and interpersonal skills.
- IT literacy (dbases and spreadsheets)
- Confident and adaptable, and possessing a quick intelligence.
- Good report writing skills
- Energy and tenacity to work well under pressure and without too much supervision
Skills & Knowledge Requirements
Sound knowledge of UK regulatory rules and their practical application to a commercial business.
Sound knowledge of products and market practices in the relevant product areas described above.
Any other relevant information