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Job Description:
This position will jointly report to the to the Managing Director and Head of USFS (based in Jersey City) and the Managing Director and Chief Operating Officer, Americas Compliance (based in New York City);
Responsibilities:
Provides a leadership role in the design, implementation and sustainability of a comprehensive USFS compliance risk management program to ensure compliance with the Federal Reserve Board Supervisory Letter SR08-8 and Enhanced Prudential Standards (EPS), as applicable to USFS and its constituent activities;
Guides and assists USFS management in the implementation of their compliance-related roles, responsibilities, authorities and accountabilities to comply with BNP Paribas Group (both GFS and CIB), IHC and other local requirements specific to certain activities, where applicable;
Prepares documentation required to comply with regulatory and other management and Board/Committee reporting, considering emerging industry developments including the likely qualitative and quantitative impacts upon all downstream businesses including risks and potential loss/capital ramifications;
Coordinates preparation for and management of regulatory and other third party oversight visits, including the completion of any pre-assessment questionnaires and pre-reading/presentation materials to be provided to regulators and other third parties;
Acts as key contact for all consultants and third party specialists working with USFS on Program or BAU initiatives so as to optimize their value in terms of expertise while ensuring costs are minimized;
Serves as liaison for USFS with all other functional executives (such as ITO and its constituent Technology and Operations Departments) so as to ensure USFS is participating efficiently and effectively as part of enterprise-wide initiatives (e.g., Roosevelt, etc.) particularly on those key parts of initiatives where it plays a supporting and/or intermediary type role;
Ensures that all administrative matters related to the USFS Committee meetings are performed in a professional manner, that documentation including agendas, pre-reading materials, minutes and follow up/action item lists/particulars are maintained and relevant matters are communicated; in this regard, assisting those within and outside of USFS in the resolution of outstanding items; and
Oversees USFS Permanent Control activities by ensuring controls and procedures across businesses/legal entities are applicable and flexible (without compromising USFS’s 2nd line of defense independence), practical and effective and that they are reviewed and enhanced regularly and understood by relevant staff;
Assists in the design, development and implementation of strategic and tactical operational services to support the IHC financial security (FS) activities which will be led by the Head of USFS as well as the Senior Vice President and Bank Secrecy Act (BSA)/AML Officer at BOW with significant input from each of the Chief Compliance Officers at BOW, US CIB, FHB and IP and ultimately overseen by the Americas Chief Compliance Officer;
Serves as the liaison with BoW, FHB, and IP financial security Compliance professionals to ensure consistent methodologies are applied and tailored to businesses to ensure a consolidated CUSO/IHC Financial Security Compliance Program is in place across legal entities/jurisdictions.
Plays an important intermediary role liaising with Group Financial Security (GFS) in the US which is another albeit independent department within Compliance having particular focus on quality assurance, testing and oversight over Sanctions related activities.
Drives efficiency, effectiveness, cost, and compliance for all operations relating to the FS compliance function, including but not limited to: technology, vendor governance and project management;
Partners with the relevant FS leaders and stakeholders to engineer and construct appropriate process controls ensuring the IHC FS compliance function adheres to applicable regulatory requirements and policies while mitigating the associated operational(including legal and regulatory) and most importantly reputational risks;
Serves as the Secretary of the CIB/IP US Financial Security Steering Committee and is therefore responsible for all associated governance tasks;
Helps the Head of USFS, the Head of Compliance Operations (which includes Capital Markets Surveillance) coordinate efficiently with regard to transactional information sharing across the two transversal compliance functions.
Maintains ongoing service delivery, as well as driving improvements to provide efficient, effective, and compliant services;
Drives implementation of new services, processes in support of USFS;
Develops and implements a robust control infrastructure and governance framework within USFS inclusive of processes, procedures, operational standards and systemically-driven controls that support compliance with regulatory and BNPP policy requirements and to mitigate identified risks;
Develops, implements, sustains and continuously improves business-focused and compliance related key risk indicators (KRIs)/metrics in conjunction with first (business) and other second (such as Operational Risk Management) line defenders including the collection of internal and external (industry) compliance/regulatory related loss and incident data as well as key performance indicators (KPIs) and metrics tailored, as applicable, to BNP Paribas’ business mix;
Delivers reliable workforce data with corresponding reporting and analytics particularly with regard to productivity, and assisting/supporting the Head of USFS in all compensation-related analyses
Works with the Americas and US CIB Compliance Controllers to develop the overall USFS budget and ongoing forecasts and analysis of total USFS Compliance spend;
Develops, oversees and ensures adherence to USFS’s budget including both direct operating expenses and capital expenditures (both BAU and projects);
Acts as USFS’s lead on project development requirements including financial (internal/external spending), qualitative (coordination/submission of user requirements to internal/external vendors);
Develops a vendor management plan as applicable to Compliance encompassing both IT and non-IT (e.g., compliance industry consultants, etc.) third parties;
Manages the overall USFS ITO relationship by working in close coordination and partnership;
Works with US CIB Compliance Business Management regarding facilities and business continuity planning as applicable to USFS;
Leads change management initiative to ensure execution of the target USFS target operating model;
Oversees all USFS internal/external communication including but not limited to: off sites, etc.;
Project-manages Compliance initiatives including implementing leading industry practices to balance efficient and effective processes and controls to manage the firm’s compliance risk profile;
Develops and implements compliance risk management strategies to support business needs and tailoring them as applicable to accommodate different risks and mitigants;
Partners closely with internal governance stakeholders (such as Legal, Finance, Operations, IT, Risk Management, HR, Finance, Tax, etc.) to monitor changes to the regulatory environment and ensure appropriate end-to-end process controls are in place across the enterprise to ensure all requirements are met on a timely basis (passing the “use test”);
Develops an internal and external loss and incident management process as applicable to USFS- related banking industry events to identify the root cause of control deficiencies, operational errors resulting in losses and/or near misses, and other identified areas for improvement and develop corrective action plans to effectively resolve/achieve the identified issues and objectives; in addition, for material and applicable events occurring at peer institutions, performing analyses benchmarking against BNP Paribas controls, etc. to ensure such an event could not occur internally;
Manages audits of the function performed by Inspection Generale, independent accountants or external regulators and in this regard monitoring the status of outstanding audit and regulatory recommendations and make sure corrective actions are implemented within agreed timeframes;
Helps to establish an environment of self-identification/reporting of control deficiency and continuous improvement by developing, implementing and sustaining a Compliance risk and control self-assessment process focusing on key risks (linked to KPIs and key controls) and ensuring that remediation of (in particular) high risk-rated items are tracking to plan and milestones on the critical path are being met all within the context of USFS Permanent Control; and
Helps design and implement organizational changes including reporting lines and creating and keeping all job descriptions up to date.
Qualifications:
The role requires a versatile mix of compliance and business experience across Front Office, Infrastructure and Governance functions both from an individual and collective (seeing how they fit together across the food chain) – with a focus on service delivery and strategic and tactical management, and with an emphasis on implementation and execution. In addition to experience with regulatory expectations and requirements outside third party interaction, risk identification, assessment, quantification and mitigation, budgets, and most importantly operating in an environment marked by change management where approaches need to be flexible and tailored to audiences depending on organization levels as well as business climates and cultures.
10 to 15 years of diversified compliance and business experience and demonstrated leadership capabilities in multifaceted financial services companies including a background in business management, budget and capital expenditure processes, project management, risk management or compliance operations and controls including the implementation of new or enhanced control processes;
Demonstrated ability to develop sound business processes and support systems and in particular with regard to IT, the discipline required to deliver sound business requirements to hand off to technology/vendors to deliver against;
Experience working with those in other international locations and ability to build consensus and coordinate and manage issues, projects and issues across multiple areas, jurisdictions and functions;
Ability to coordinate and navigate initiatives, projects and issues in a regional context vis-à-vis Head Office and IHC (and/or vice versa);
Proven experience in managing change in a dynamic environment across multiple entities, businesses, functions and jurisdictions;
Ability to both lead and work (player/coach) in both a BAU and a project mode;
Talent management and leadership skills including the ability to work a politically focused on producing, doing the right thing on time, and with quality;
Experience in effectively leading and motivating cross-organizational and functional teams;
Track record of developing and maintaining strong relationships with individuals at all levels in the organization based on trust and respect;
Exceptional organizational and communication skills are needed in order to successfully build relationships with colleagues with a large range of styles;
Feels comfortable interacting regularly with Senior Management and Compliance professionals transversally for the purpose of providing and obtaining critical, confidential data; exercising discretion and sound professional judgment are of paramount importance;
Focus on delivering quality reporting, analytics, and compliance for USFS and FS aggregated reporting and entity reporting;
Gathers business requirements, data collection and analysis for aggregated reporting and team projects;
Proficient in the use of MS Office suite (Excel, Word, PowerPoint) required;
Superior organizational skills, experience working in diverse, fast-paced financial institutions and prior experience in this regard is required;
Experience dealing with regulators and other third parties (attorneys, accountants, consultants, etc.), including managing day-to-day regulatory relationships and visits, and report writing ability to assist in the development of a transversal reporting policies, procedures and standards; and
Strong analytical skills particularly with regard to departmental direct operating expenses and capital expenditure planning as well as the compilation of metrics and collection of operational loss and incident data.
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Job Description:
This position will jointly report to the to the Managing Director and Head of USFS (based in Jersey City) and the Managing Director and Chief Operating Officer, Americas Compliance (based in New York City);
Responsibilities:
Provides a leadership role in the design, implementation and sustainability of a comprehensive USFS compliance risk management program to ensure compliance with the Federal Reserve Board Supervisory Letter SR08-8 and Enhanced Prudential Standards (EPS), as applicable to USFS and its constituent activities;
Prepares documentation required to comply with regulatory and other management and Board/Committee reporting, considering emerging industry developments including the likely qualitative and quantitative impacts upon all downstream businesses including risks and potential loss/capital ramifications;
Coordinates preparation for and management of regulatory and other third party oversight visits, including the completion of any pre-assessment questionnaires and pre-reading/presentation materials to be provided to regulators and other third parties;
Acts as key contact for all consultants and third party specialists working with USFS on Program or BAU initiatives so as to optimize their value in terms of expertise while ensuring costs are minimized;
Serves as liaison for USFS with all other functional executives (such as ITO and its constituent Technology and Operations Departments) so as to ensure USFS is participating efficiently and effectively as part of enterprise-wide initiatives (e.g., Roosevelt, etc.) particularly on those key parts of initiatives where it plays a supporting and/or intermediary type role;
Ensures that all administrative matters related to the USFS Committee meetings are performed in a professional manner, that documentation including agendas, pre-reading materials, minutes and follow up/action item lists/particulars are maintained and relevant matters are communicated; in this regard, assisting those within and outside of USFS in the resolution of outstanding items; and
Oversees USFS Permanent Control activities by ensuring controls and procedures across businesses/legal entities are applicable and flexible (without compromising USFS’s 2nd line of defense independence), practical and effective and that they are reviewed and enhanced regularly and understood by relevant staff;
Assists in the design, development and implementation of strategic and tactical operational services to support the IHC financial security (FS) activities which will be led by the Head of USFS as well as the Senior Vice President and Bank Secrecy Act (BSA)/AML Officer at BOW with significant input from each of the Chief Compliance Officers at BOW, US CIB, FHB and IP and ultimately overseen by the Americas Chief Compliance Officer;
Serves as the liaison with BoW, FHB, and IP financial security Compliance professionals to ensure consistent methodologies are applied and tailored to businesses to ensure a consolidated CUSO/IHC Financial Security Compliance Program is in place across legal entities/jurisdictions.
Plays an important intermediary role liaising with Group Financial Security (GFS) in the US which is another albeit independent department within Compliance having particular focus on quality assurance, testing and oversight over Sanctions related activities.
Drives efficiency, effectiveness, cost, and compliance for all operations relating to the FS compliance function, including but not limited to: technology, vendor governance and project management;
Partners with the relevant FS leaders and stakeholders to engineer and construct appropriate process controls ensuring the IHC FS compliance function adheres to applicable regulatory requirements and policies while mitigating the associated operational(including legal and regulatory) and most importantly reputational risks;
Serves as the Secretary of the CIB/IP US Financial Security Steering Committee and is therefore responsible for all associated governance tasks;
Helps the Head of USFS, the Head of Compliance Operations (which includes Capital Markets Surveillance) coordinate efficiently with regard to transactional information sharing across the two transversal compliance functions.
Maintains ongoing service delivery, as well as driving improvements to provide efficient, effective, and compliant services;
Drives implementation of new services, processes in support of USFS;
Develops and implements a robust control infrastructure and governance framework within USFS inclusive of processes, procedures, operational standards and systemically-driven controls that support compliance with regulatory and BNPP policy requirements and to mitigate identified risks;
Develops, implements, sustains and continuously improves business-focused and compliance related key risk indicators (KRIs)/metrics in conjunction with first (business) and other second (such as Operational Risk Management) line defenders including the collection of internal and external (industry) compliance/regulatory related loss and incident data as well as key performance indicators (KPIs) and metrics tailored, as applicable, to BNP Paribas’ business mix;
Delivers reliable workforce data with corresponding reporting and analytics particularly with regard to productivity, and assisting/supporting the Head of USFS in all compensation-related analyses
Works with the Americas and US CIB Compliance Controllers to develop the overall USFS budget and ongoing forecasts and analysis of total USFS Compliance spend;
Develops, oversees and ensures adherence to USFS’s budget including both direct operating expenses and capital expenditures (both BAU and projects);
Acts as USFS’s lead on project development requirements including financial (internal/external spending), qualitative (coordination/submission of user requirements to internal/external vendors);
Develops a vendor management plan as applicable to Compliance encompassing both IT and non-IT (e.g., compliance industry consultants, etc.) third parties;
Manages the overall USFS ITO relationship by working in close coordination and partnership;
Works with US CIB Compliance Business Management regarding facilities and business continuity planning as applicable to USFS;
Leads change management initiative to ensure execution of the target USFS target operating model;
Oversees all USFS internal/external communication including but not limited to: off sites, etc.;
Project-manages Compliance initiatives including implementing leading industry practices to balance efficient and effective processes and controls to manage the firm’s compliance risk profile;
Develops and implements compliance risk management strategies to support business needs and tailoring them as applicable to accommodate different risks and mitigants;
Partners closely with internal governance stakeholders (such as Legal, Finance, Operations, IT, Risk Management, HR, Finance, Tax, etc.) to monitor changes to the regulatory environment and ensure appropriate end-to-end process controls are in place across the enterprise to ensure all requirements are met on a timely basis (passing the “use test”);
Develops an internal and external loss and incident management process as applicable to USFS- related banking industry events to identify the root cause of control deficiencies, operational errors resulting in losses and/or near misses, and other identified areas for improvement and develop corrective action plans to effectively resolve/achieve the identified issues and objectives; in addition, for material and applicable events occurring at peer institutions, performing analyses benchmarking against BNP Paribas controls, etc. to ensure such an event could not occur internally;
Manages audits of the function performed by Inspection Generale, independent accountants or external regulators and in this regard monitoring the status of outstanding audit and regulatory recommendations and make sure corrective actions are implemented within agreed timeframes;
Helps to establish an environment of self-identification/reporting of control deficiency and continuous improvement by developing, implementing and sustaining a Compliance risk and control self-assessment process focusing on key risks (linked to KPIs and key controls) and ensuring that remediation of (in particular) high risk-rated items are tracking to plan and milestones on the critical path are being met all within the context of USFS Permanent Control; and
Helps design and implement organizational changes including reporting lines and creating and keeping all job descriptions up to date.
Qualifications:
The role requires a versatile mix of compliance and business experience across Front Office, Infrastructure and Governance functions both from an individual and collective (seeing how they fit together across the food chain) – with a focus on service delivery and strategic and tactical management, and with an emphasis on implementation and execution. In addition to experience with regulatory expectations and requirements outside third party interaction, risk identification, assessment, quantification and mitigation, budgets, and most importantly operating in an environment marked by change management where approaches need to be flexible and tailored to audiences depending on organization levels as well as business climates and cultures.
10 to 15 years of diversified compliance and business experience and demonstrated leadership capabilities in multifaceted financial services companies including a background in business management, budget and capital expenditure processes, project management, risk management or compliance operations and controls including the implementation of new or enhanced control processes;
Demonstrated ability to develop sound business processes and support systems and in particular with regard to IT, the discipline required to deliver sound business requirements to hand off to technology/vendors to deliver against;
Experience working with those in other international locations and ability to build consensus and coordinate and manage issues, projects and issues across multiple areas, jurisdictions and functions;
Ability to coordinate and navigate initiatives, projects and issues in a regional context vis-à-vis Head Office and IHC (and/or vice versa);
Proven experience in managing change in a dynamic environment across multiple entities, businesses, functions and jurisdictions;
Ability to both lead and work (player/coach) in both a BAU and a project mode;
Talent management and leadership skills including the ability to work a politically focused on producing, doing the right thing on time, and with quality;
Experience in effectively leading and motivating cross-organizational and functional teams;
Track record of developing and maintaining strong relationships with individuals at all levels in the organization based on trust and respect;
Exceptional organizational and communication skills are needed in order to successfully build relationships with colleagues with a large range of styles;
Feels comfortable interacting regularly with Senior Management and Compliance professionals transversally for the purpose of providing and obtaining critical, confidential data; exercising discretion and sound professional judgment are of paramount importance;
Focus on delivering quality reporting, analytics, and compliance for USFS and FS aggregated reporting and entity reporting;
Gathers business requirements, data collection and analysis for aggregated reporting and team projects;
Proficient in the use of MS Office suite (Excel, Word, PowerPoint) required;
Superior organizational skills, experience working in diverse, fast-paced financial institutions and prior experience in this regard is required;
Experience dealing with regulators and other third parties (attorneys, accountants, consultants, etc.), including managing day-to-day regulatory relationships and visits, and report writing ability to assist in the development of a transversal reporting policies, procedures and standards; and
Strong analytical skills particularly with regard to departmental direct operating expenses and capital expenditure planning as well as the compilation of metrics and collection of operational loss and incident data.
Pass it on for Referral Bonus. Not the right role for you, but know someone we should meet? Share with him to earn $1,000 referral bonus.
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