Operational Risk and Control Analyst

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • BNP Paribas Asset Management
  • 03 Oct 17 2017-10-03

We have an excellent career opportunity for an Operational Risk and Control Analyst within the Operational Risk and Control team (RISK ORC) performing independent risk assessment and control testing of both the business lines and functions supporting those businesses.

About BNP Paribas Asset Management:

Fully intergrated in the BNP Paribas Group, BNP Paribas Asset Management (AM) is the investment management arm of BNP Paribas, one of the world’s major financial institutions. Managing and advising EUR 580 billion in assets as at 31 March 2017, BNP Paribas Asset Management offers a comprehensive range of active, passive and quantitative investment solutions covering a broad spectrum of asset classes and regions. With close to 700 investment professionals and 600 client servicing specialists, BNP Paribas Asset Management serves individual, corporate and institutional investors in 75 countries around the world. Since 2002, BNP Paribas Asset Management has been a major player in sustainable and responsible investing.

Business Overview:

The mission of RISK Operational Risk and Control (RISK ORC) is to oversee the effective and efficient functioning of the Operational Permanent Control (OPC) framework implemented by business lines and functions, as well as the measurement and management of operational risks.

  • RISK ORC serves in an independent oversight capacity as the 2nd line of defense, ensuring that the 1st line of defense (under the responsibility of OPC management), is fulfilling its objectives and requirements.
  • RISK ORC’s scope covers the Asset Management and Corporate and Institutional (CIB) banking activities within North America, as well as the supporting operational units and transversal functions.

Key Responsibilities:

The successful candidate will be required to perform various functions within the defined Operational Permanent Control framework, including:

  • Oversight over the Risk Control Self-Assessment (RCSA) framework including coordination of roll out, training, identification of gaps to policy and effective challenge of the process.
  • Preparation and submission of semi-annual Key Surveillance Reports (KSP) to Central Asset Management RISK ORC on the completion, strength and results of RISK ORC control testing across all Asset Management entities in the U.S.
  • Independent assessment and effective challenge of control plans in order to identify gaps to policy, ensure sound control design and effectiveness. 
  • Complete testing on controls, evaluate the strength and results of controls, report results, and create action plans where needed. Create and follow remediation plans until finalization.
  • Manage reporting and/or perform quality control and validation of Operational Loss Incidents including remediation plan effectiveness and implementation.
  • Tracking and reporting of Audit findings to monitor timely resolution.
  • Partner with Second Line of Defense areas (Legal, Compliance, and Finance) to develop synergies and minimize duplication of work on inter-related work streams.
  • Lead and actively participate in operational risk meetings to stay informed of all new initiatives that will affect RISK ORC function and communicate to all relevant stakeholders as necessary.
  • Keep informed of new and amended legal, regulatory, and operational and market practices and communicate any pertinent information to the team and to the RISK ORC Americas department in general.
  • Establish key relationships across departments and territories covering Asset Management in the U.S.
  • Represent Asset Management U.S. in a variety of IHC Operational Risk related forums and committees including the Operational Risk Forum, Operational and Technology Risk Committee (OTRC), and TAC/NAC Forum.
  • Evaluate new products and activities; assess impact to Operational Risk and report on if/how the product or activity affects the liquidity of the IHC and Operational Risk in general.

Essential Skills and Competencies:

  • Communication skills: Expresses his/her messages, both orally and in writing, in an effective, organized way, which is appropriate to the audience being addressed.
  • Analytical Skills: Identifies all aspects of a subject and examines them in a critical way to construct a broad point of view. Is driven by the desire to know more about things, people or events.
  • Organizational Skills: Sets priorities, plans actions and methodically monitors their progress by coordinating activities and resources in the best way possible.
  • Ability to Summarize: Identifies and presents key information. Gives his/her point of view by structuring and summing up all useful elements. Obtains best possible results when conflicting interests are at play, leading to a constructive dialogue.
  • Results Driven: Seeks to achieve objectives set within the defined timeframe, by acting with tenacity, and by balancing costs and benefits. Continuously seeks optimum performance.
  • Taking Responsibilities: Is involved in his/her scope for action, while appreciating the limits. Meets his/her commitments and accepts the consequences.

Essential Qualifications and Experience:

  • Bachelor’s Degree in Audit, Risk or another financial Industry related field.  (MBA a plus).
  • 7 to 10 years of experience working in an asset management institution setting with a focus on Operational Risk management and reporting or auditing/control assessment and testing.
  • General knowledge of financial markets operating environment.
  • Knowledge or previous engagement with various control-related regulatory frameworks (SOX, SEA 17a-5) or other internal control standards (ex. COSO 2013) is a plus.
  • Excellent verbal and written communication skills required for active interaction with business line and/or functional management.
  • Ability to conceptualize issues and translate into solutions.
  • Proficiency in Microsoft Office suite (Word, Excel, PowerPoint).

FINRA Registration:

  • Not applicable.

BNP Paribas Group:

BNP Paribas has operations in 75 countries and boasts more than 185,000 employees, including approximately 145,000 in Europe. It ranks highly in its two core activities: Retail Banking & Services (comprised of Domestic Markets and International Financial Services) and Corporate & Institutional Banking. 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 across Mediterranean basin 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 and solid and fast-growing businesses in Asia-Pacific.