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Assistant Vice President - Risk Oversight Assessment Specialist
BNP Paribas
New York, NY, United States
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Business Overview:
The management of BNP Paribas has committed to ensure compliance with AML, embargo & sanctions, and KYC rules across the entire Group. In this context, Group Compliance has installed a permanent, robust US-based sanctions compliance control team in New York: Group Financial Security US (“GFS-US”). The objectives of this unit include:
• Responsibility for the BNP Paribas Group framework in relation to compliance with US sanctions
• Acting as the ultimate level of management of US sanctions related alerts
• Ensuring the effectiveness of a complete legal and regulatory watch function in relation to US sanctions through liaison with Legal Affairs
• Issuing norms, policies and procedures, and training in relation to sanctions issues applicable across the BNP Paribas Group (focus of the GFS-US Norms and Procedures team)
• Performing a Group-wide advisory function and supplying advice to business and compliance units for situations related to US sanctions (focus of the GFS-US OFAC / Sanctions Advisory team)
• Acting as the sponsor of tools used to filter flows against embargo / sanctions lists and a the final level of escalation and review of possible OFAC violations (focus of the GFS-US OFAC / Sanctions Alerts team)
• Performing an on-site control function to verify that BNP Paribas entities comply with norms issued by GFS-US (focus of the GFS-US On-Site Controls team)
• Performing sanctions-based risk assessments for the Group’s branches & affiliates regarding and facilitating permanent risk oversight (focus of the GFS-US Risk Oversight team)
The GFS-US Risk Oversight team is entitled to receive, in accord with legal, regulatory, or privacy constraints, all relevant information and data contributing to a comprehensive evaluation of sanctions risks facing BNPP. The Risk Oversight team is also responsible for monitoring the implementation and results of recommendations and remediation plans resulting from GFS-US on-site reviews. In partnership with counterparts in the GFS-Paris unit, the GFS-US Risk Oversight team has the following duties and responsibilities:
• Defining, constructing, maintaining, and sponsoring the annual global OFAC / sanctions risk assessment
• Conducting ongoing OFAC / sanctions risk monitoring and identifying and addressing issues in collaboration with other GFS-US teams
• Contributing to the development and creation of an ongoing compliance risk monitoring dashboard that will produce day-to-day risk reporting
• Receiving, analyzing and investigating escalations involving possible OFAC / sanctions violations and providing oversight for corrective actions designed to address sanctions related issues
• Reviewing negative news escalations, whistle-blower reports, and internal audit reports and extracting relevant OFAC / sanctions data for analysis and synthesis with ongoing risk monitoring and remediation efforts
Responsibilities:
Aligned with the GFS-US Risk Oversight team’s overall objective, the Risk Oversight Assessment Specialist position requires:
• The detection and analysis of bank-wide OFAC / sanctions risk identified through self-reported risk assessments, sanctions alerts, reports produced by permanent control functions and audit, reviews conducted by local regulators, and other incidents.
• Assist with implementation, administration, and validation of the Annual Global OFAC Risk Assessment, contribute to ongoing OFAC / sanctions risk monitoring requirements, and to investigate escalated matters including possible evasion of OFAC / sanctions, negative news matters, and whistle-blower reports.
Additional Responsibilities include:
• Answering questions from and providing guidance to compliance representatives from business units while assisting with the administration of the annual OFAC risk assessment survey
• Processing data received from business units in response to the annual OFAC risk assessment survey
• Synthesizing the resulting information from the risk assessment survey by using and further developing risk scoring models built in Excel and proprietary tools, with an end goal of producing presentations and reports for communication and dissemination to stakeholders, senior management, and regulators
• Collaborating with GFS-Paris counterparts to maintain and monitor technology solutions that will streamline the collection, analysis, and delivery of OFAC sanctions risk data
• Contributing to the implementation of the overall OFAC / sanctions risk oversight methodology for the bank to ensure correct and efficient risk identification
• Assisting in the production of an end product of translatable OFAC sanctions risk data that can be integrated with the Annual Global Bank Risk Assessment and ongoing risk monitoring
• Assisting with ongoing risk monitoring tasks including the investigation of qualitative OFAC / sanctions risk items including potential sanctions circumvention or evasion attempts, sanctions-based negative news escalations, and sanctions-related whistleblower reports
Minimum Required Qualifications:
• Undergraduate degree in finance or business related major
• 3 - 5 years of experience in a banking compliance / risk / controls environment
• Working knowledge of global banking products & services
• General knowledge of US sanctions / OFAC regime
• Knowledge of BNP Paribas Group activities and organization a plus
• Strong analytical, data modeling, and investigative skills
• Proficiency with MS Office suite (especially Excel, PowerPoint)
• High level of detail orientation and organization
• Strong written and verbal communication skills with comfort presenting to a senior audience
• Ability to:
◦ Manage several multi-faceted projects at once and meet tight deadlines
◦ Work well with others in a fast-paced environment
Preferred Qualifications:
• Advanced / graduate degree a plus
• JD is a plus
• Experience with:
◦ Compliance risk assessments and related data analytics a plus
◦ Internal audit / controls a plus
◦ Case management and survey systems a plus
• French language skills a plus
FINRA Registrations Required:
• Not Applicable
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