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BNP Paribas's effectiveness in building sound corporate governance, building strong relationships with key regulators, managing successful regulatory exams, and building a reputable public identity in the regulatory sphere are crucial to the bank's success in the US. The Public Policy and Regulatory Affairs function was established in 2016 to bring the two different but linked teams, Supervisory Relations and NA Public Policy and Regulatory Analysis teams together as the Public Policy and Regulatory Analysis function (PPRA). A DC Government Affairs function was also established in Q4 2016 and integrated into the PPRA function This Public Policy and Regulatory Analysis role will report to the Head of NAPRA
The NAPRA team executes the following responsibilities
Strategic regulatory analysis: leveraging on industry intelligence and internal expertise, the team:
develops early awareness on regulatory developments,
produces impact assessments (both quantitative and qualitative) of new US regulations on BNP Paribas across business lines, functions and regions,
coordinates internal policy positions and provides a regulatory perspective to strategic decision making
Trade Association Management: NAPRA represents BNP Paribas at the key US Trade Associations (IIB, SIFMA, TCH, FIA, ISDA, FSR, OFII etc.), with the goal of building up the bank's profile in regulatory policy debates. The team acts as the conduit for the positioning and contribution of BNP Paribas opinions and policy positions at the important committees established by the trade associations The team also supports BNP Paribas Board members at these associations.
Advisory and project management on regulatory implementation projects: leveraging on regulatory expertise and industry intelligence, advising on the right design of implementation projects to achieve Business as Usual sustainable compliance frameworks within regulatory deadlines. Regulatory Projects: Resolution Planning: producing the US Resolution Plan to be submitted each year to FED and FDIC and coordinating the enhancement projects; Alternative Reference Rate Committee (ARRC) the Fed sponsored and industry led initiative to develop an alternative reference rate to $ Libor; Swap Dealer Registration obligations
The NAPRA TEAM is the principal partner, and actively contributes to the execution of the DC based Government Affairs Washington strategy:
Engagement: coordinating the lobbying strategy and activities of BNP Paribas in the US in close coordination with Group Public and Prudential Affairs, and CIB regulatory affairs as appropriate;
Introduce BNP Paribas within the Washington regulatory and legislative communities;
Elevate the bank's profile as a diversified financial institution with substantial US operations having the ability to leverage continental Europe's largest bank and its global connections;
Build and nurture meaningful strategic relationships with identified stakeholders; and
Create a platform that allows BNP Paribas to participate meaningfully in the Washington DC policy-making process.
The role will focus on Public Policy and Strategic Regulatory Analysis, to include:
Organizing surveillance and monitoring of proposals of new US regulation applicable to BNP Paribas activities;
Conducting impact assessment and produce memos for senior management on new US regulation in collaboration with relevant internal stakeholders. Act as the key source of expertise and insight in this regard;
Coordinating BNP Paribas positions and developing policy strategies on regulatory topics with the Government Affairs Representative, involving all relevant experts from business lines and functions within BNP Paribas;
Developing strong partnerships with senior internal stakeholders from Finance, Global Markets, Coverage, Capital Planning , Finance, Compliance, Risk and Legal among others, so as to fully understand the impact of regulations on their business strategy and provide full intelligence to them of developments in this external eco system
Developing strong partnerships with senior external stakeholders from Trade Associations
Supporting the DC Government Affairs function to execute the DC-based Government Affairs Washington strategy
Contribution to the roll out of regulatory projects
Maintaining relationships with global peers and head office personnel covering similar topics in other jurisdictions
The scope of regulatory analysis covers prudential capital and liquidity requirements, market rules and infrastructure, business conducts with clients and structural regulations of interest for BNP Paribas CIB and IS. The hire will develop close partnerships and work in co-operation with:
Local and global business lines and functions (especially Global Markets, Legal, Compliance, Finance)
Group Public and Regulatory Policy and especially prudential affairs to assess potential extraterritorial impacts and carry out comparative works on EU vs US regulations;
External trade associations and lobbying groups.
Minimum Required Qualifications:
At least 5 to 7+ years of professional experience, during which he/she was able to acquire an excellent knowledge of banking;
Master or equivalent degree in Public Policy, Finance, Economics, Accounting, Business Administration or other related field of study;
Experience in one or more of the following regulatory areas - capital, leverage, liquidity, swap dealer, cybersecurity or derivatives from within a public policy and regulatory affairs role or gained from experience within an economics, capital planning, trading floor strategy, financial control, risk, government or legal environment
Experience in financial/business/legal analysis is required;
Very mature verbal communication abilities and strong writing abilities
Strong coordination skills and comfortable with teamwork;
Strong Word, Excel and Powerpoint skills
Prior public policy experience in the private sector or government, with demonstrable results in shaping outcomes would be a strong advantage
Existing industry (financial sector and / or DC eco-system (legislative or regulatory agency)) relationships would be an advantage