BNP Paribas Group:
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 employees, including more than 146,000 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 Corporate and Institutional Banking:
Fully integrated in the BNP Paribas Group, BNP Paribas Corporate and Institutional Banking (CIB) is a leading provider of solutions to two client franchises: corporates and institutionals, and operates across EMEA (Europe Middle East Africa), APAC (Asia Pacific) and the Americas. The bank is a global leader in Debt Capital Markets and Derivatives. It is a top European house in Equity Capital Markets and it has leading franchises in Specialized Financing. In Securities Services, it is a top five House worldwide. BNP Paribas CIB strives to service the global economy by providing solutions to its clients in financing (ECM, DCM, specialized financing), flow banking (trade finance and cash management), financial advisory (M&A, project finance), global markets (interest rates, credit, foreign exchange, equity derivatives), risk management, and securities services.
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 position requires both an interest in sophisticated quantitative analyses as well as in audit style investigations.
The person is required to have a critical approach to assess the overall adequacy of both IHC developed models – including for instance the Stress testing models - to identify all aspects that may require further investigation.
It is required that the officer has some knowledge and / or experience with valuation, stress testing, capital planning and risk models. He/she is to be able to quickly figure out what the potential model deficiencies may be. He/she has strong quantitative background and professional experience to investigate these potential deficiencies, incorporating the development of alternative approaches, carrying out deeper investigations and impact studies efficiently, and to confirm at the end whether any modelling or model implementation issue is present or not. The details of the investigations and the findings must be clearly documented in technical validation reports.
Risk management of IHC scope activities may require the use of sophisticated mathematical models. The application of these mathematical models requires complex systems for feeding the models with specific market and position data and for performing heavy mathematical computations and database queries.
The model validation quants within the BNP Paribas IHC shall use and develop an internal toolkit for assessing and challenging the hypothesis and/or mathematical models behind the applied and proposed risk methodologies, stress testing and projections.
An experience and expertise with Model Risk Management is a real plus. It would include:
- Model governance framework, model documentation, model inventory, performance monitoring, process mapping and reengineering.
- Comprehensive experience and expertise in the interpretation and implementation of SR 11-7, Supervisory Guidance on Model Risk Management.
- General experience in Financial Regulatory Reform (-165 of the Dodd-Frank Act, Enhanced Prudential Standards for Foreign Banking Organizations), Capital Markets activities, Corporate & Investment Banking, and Project Management (including experienced knowledge of tools such as MS Project).
Eventually, a sound coordination is required with several other teams such as the IHC Model Risk Governance Team and the other model validation teams within the IHC (Bank of the West and First Hawaiian Bank) and BNP Paribas Group in Paris, London or Brussels.
Minimum required qualifications
The position requires a combination of various soft and hard skills. The following education or equivalent experience is required to fulfil the position:
- Master’s or higher degree, in Quantitative field required
- Experience in statistical modeling and data analysis
- Certified Financial Analyst (CFA) professional certification preferred
A minimum of 6 to 10-year experience in developing or validating financial models related to Capital Markets either on the Front Office side or on the Risk side and/or stress testing.
Field of expertise
- Expertise with loss forecasting, PPNR, stress testing, credit / counterparty / market risks and Basel III.
- Experience with programming and/or large database and related languages (for instance SQL, R, MATLAB, low-level C++ programming and SAS).
- Strong knowledge of Bank products processes and business practices.
- Demonstrate project management skills to include working within short timelines and under pressure items
- Ability to effectively summarize and present validation findings to senior management
FINRA Registrations Required: