Associate/ Senior Associate – Transversal Risk Management

Job Description – Transversal Risk Management

About BNP Paribas Group:

BNP Paribas is a top-ranking bank in Europe with an international profile. It operates in 71 countries and has almost 199 000 employees. The Group ranks highly in its three core areas of activity: Domestic Markets and International Financial Services (whose retail banking networks and financial services are grouped together under Retail Banking & Services) and Corporate & Institutional Banking, centred on corporate and institutional clients. The Group helps all of its clients (retail, associations, businesses, SMEs, large corporates and institutional) to implement their projects by providing them with services in financing, investment, savings and protection. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas enjoys leading positions in Europe, a strong presence in the Americas and has a solid and fast-growing network in the Asia/Pacific region.

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, a leading bank in Europe with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24×7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 6000 employees, to provide support and develop best-in-class solutions.

About Businessline/Function :

ISPL Compliance Hub as a department was established in November 2013 at ISPL in Mumbai, India with the hire of a department head. The ISPL team provides support on compliance administrative level tasks to BNPP compliance teams globally.

The scope of work includes offshoring administrative and Level I support to functions such as:

·       Training Support

·       Capital Markets Surveillance

·       Employee Personal Account Dealing

·       Electronic Communications Surveillance

·       Offshoring/Outsourcing Coordination

·       Projects & System Support

·       Sanction/KYC Support

·       AML Post transaction monitoring Support

Job Title:

Compliance Officer

Date:

 2023

Department:

ISPL Compliance Hub

Location:

Mumbai

Business Line / Function:

Functions

Reports to:

(Direct)

Grade:

(if applicable)

(Functional)

AVP/Manager

Number of Direct Reports:

NA

Directorship / Registration:

NA

 

Position Purpose

Part of ISPL Compliance hub, the resource performs periodical testing checks on both the Compliance APAC function and APAC Business lines to ensure the efficacy of BNP Paribas APAC Compliance KYC control framework.

Responsibilities

Direct Responsibilities

o    Work with Client Management, conducting period reviews of existing customers, to confirm the information on file, reconfirm customers ownership structure, conduct PEP/negative news and sanctions check to ensure KYC completeness, accuracy and quality/readiness.

o    Provide advice and interpretation on specific KYC compliance policies, procedures and topics, considering both the spirit and intent of applicable law.

o    Work closely with Country Compliance to ensure KYC reviews are signed off and that any repairs or additional information required is sought in a reasonable timely manner particularly in the context of Client Acceptance Committee (“CAC”) or Coordinated CAC.

o    Collaborate with Country/Regional Compliance covering KYC to help ensure consistency in interpretation and application of existing and new regulatory requirements.

o    Able to quickly size KYC compliance issues (e.g. overdue/ageing files) and trouble spots, and influence related remediation activities including timely closure of action plans developed in response to adverse audits and regulatory examinations.

o    Perform AML/Sanction compliance control testing, based on 2nd level Group Compliance Control Plans, on the following domains:

Financial Sanctions

Anti Money Laundering / CFT

Market Integrity

Protection of Client Interests

Professional Ethics

Fiscal laws and Banking Regulations

o    Escalate issues and exceptions items noted during the controls

o    Ensure close collaboration with the Domain Leads in the TRM team who are responsible for the definition of the control methodology and accountable for the adequate execution of the controls.

o    Communicate with Local and regional Compliance teams as required for the execution of the controls and the presentation of the results

o    Track status of corrective action plans agreed with Country Compliance

o    Maintain detailed and organised documentation of work products

o    Coordinate with other professionals in the organisation, including other Compliance teams, as necessary

o    Assist in special projects as needed, including but not limited to, project planning and project management particularly on the centralised KYC repository tool front. Support management with regulatory exams and Inspection Generale as needed.

Contributing Responsibilities

o    Comply with procedure and other relevant policies/ procedures of BNP Paribas group and regulations, and industry best practice

o    Collaborate and work in tandem with team members and relevant stakeholders

o    Be supportive and adoptive to changes of procedures and scope of work

o   Meet the QA requirements and the expected daily alert closure volume

Technical & Behavioral Competencies

o    Extensive AML/Sanction/KYC experience, including subject matter expertise on all these profiles regardless of entity type and risk level. Must be well versed in these entity types, potential risk factors and how this plays into the AML/KYC requirements that must be fulfilled for each entity.

o    Preferably, at least 7 years of working Audit experience with 4 years of AML/Sanction/KYC Compliance experience. Candidates with less experience may be considered for Regional KYC Analyst position.

o    Formal training or qualification in AML/Sanction/KYC would be beneficial.

o    Sound understanding of AML/Sanction/KYC principals and be well versed in Asia Pacific, EU landscapes.

o    Able to move to and from different clients (and therefore different requirement scenarios), reports and projects throughout the day, which requires a high degree of flexibility and strong prioritization skills.

o    Must have strong interpersonal skills, a flexible, collaborative and team-oriented approach to problem-solving and an ability to work in a fast-paced, rapidly changing environment, and preferably with some experience of dealing in multiple countries in Asia Pacific.

o    Have extensive research skills to aid in establishing and/or validating required information and documentation.

o    Ability to work in a team as well as independently

o    Good communication skills and eager to learn

o    An ability to write concisely and clearly; and to produce clear constructive advice under pressure and within short timeframes.

o    Must be proficient with Microsoft Excel and other Microsoft Office.

Specific Qualifications (if required)

o   ICA or ACAMS equivalent Certifications is preferred.

o   Bachelor’s degree or higher from an accredited institution

o   Audit experience or qualifications in finance or accounting.

Skills Referential

Behavioural Skills:

Ability to collaborate / Teamwork

Communication skills – oral & written

Critical thinking

Adaptability

Transversal Skills:

Analytical Ability

Ability to develop and adapt a process

Ability to develop others & improve their skills

Ability to set up relevant performance indicators

Ability to develop and leverage networks

Education Level:

Bachelor Degree or equivalent

Experience Level

At least 7 years

Other/Specific Qualifications – ACAMS equivalent Certifications is preferred.