Business Overview:
BNP Paribas (BNPP) has entered into settlement agreements with regulators for conduct and control related issues arising out of BNPP's foreign exchange ("FX") and Designated Market Activity ("DMA") business . The settlements required BNPP to submit written plans to the regulators forming BNPP's global remediation plan ("Remediation Plan") Americas Compliance is remediating the US CIB element of "Compliance-owned" and "Compliance-related" responses to the Plans through several streams:
- Internal Controls and Compliance Program: covers enhancements, including:
a. Global Markets businesses FX Local Markets ( " FXLM " ) and Fixed Income (Credit, Rates, Swaps)
b. Conduct Program; and
c. Compliance and RISK
2. Compliance Risk Management Program: covering 2 nd Lines of Defense or "LoD"(notably Compliance and RISK Operational Risk & Control or " RISK ORC " )
3. Controls Review: covering a review of compliance policies and procedures with an appropriate risk-focused sampling of key controls (to be performed by IG/Internal Audit
Responsibilities:
The Capital Markets Surveillance (CMS) Team is a specialized unit within Ethics and Compliance N.A and primarily responsible for reviews on existing Surveillance Actimize models, conducting in depth investigations on trading activity and patterns, and refining and building trade surveillance models in accordance with and in anticipation of regulatory expectations and remediation plans.
Additionally, CMS Trade Surveillance Analysts are responsible for working with Business Management, Compliance Advisory, Global Counterparts and IT to monitor for potential market abuse activity, regulatory violations, market manipulation, or suspicious activity. CMS also proactively stays abreast of regulatory initiatives in the industry and potential risks to the firm in order to assess areas to expand or improve surveillance models or reviews. CMS plays a critical role in working with the front office (1 st line of Defense) and supporting areas to perform investigations, when necessary, and to determine and coordinate corrective action. This position will assist in operationalizing the implementation plans in response to regulatory settlements and to support undertakings made to various regulators specifically regarding the continuing evolution and enhancements of the firm's surveillance program across all asset classes.
· Operationalize implementation plans and undertakings made to various regulators;
· Conduct transaction surveillance of FX and Fixed Income business units in order to detect potential regulatory violations, identify suspicious activity and items requiring corrective action;
· Analyze transaction activity detected, document findings, provide written explanations to the transaction detail, and conduct investigations into any issue that may arise
· Interact with Front Office Salespeople, Traders, Supervisors and Compliance Advisory staff so that an appropriate resolution may be achieved and communicate issues in a proactive manner;
· Raise matters of importance to Departmental Management for discussion, participate in Team meetings, refer cases for the filing of Suspicious Activity Reports with the Financial Crimes Enforcement Network;
· Provide training and guidance to the "Level 1" CMS team, which performs a first-pass review of alerts, to ensure quality and proper adherence to the Standard Operation Procedures;
· Assist with the development of new surveillances to cover new risk priorities;
· Conduct or assist with special investigations and projects;
· Assist with Internal Audit and ad hoc regulatory requests.
Qualifications
Minimum Required Qualifications - BA or BS Degree
- 7 + years of experience with a financial services firm and/or self-regulatory organization in a compliance or regulatory related position;
- Experience or specialization in an asset class such as FX and Fixed Income
- Strong knowledge of market regulations, particularly in relation to FX and Fixed Income industry including the rules and regulations of the SEC, CFTC and all exchanges and associations under such federal agencies, including FINRA, NYSE, CME, ICE US;
- Excellent interpersonal and communication skills, including writing, with the ability to interact effectively with front and back office staff and senior management;
- Strong analytical and investigative skills;
- Ability to manage multi task, and handle multiple compliance reviews and projects at the same time and meet deadlines;
Preferred Qualifications: - Exposure to trading desks, electronic trading market and securities industry strongly preferred
- Experience with surveillance and case management systems, such as NICE Actimize and SMARTS
- Intermediate skill set with MS Office Suite; Excel, Bloomberg;
FINRA Registrations Required: - Series 7 and 63 preferred
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