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Vice President - Cross Asset Class Electronic Trading Compliance Officer
BNP Paribas
New York, NY, United States
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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”) 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:
1. Internal Controls and Compliance Program: covers enhancements, including:
a. Global Markets businesses (FX Local Markets (“FXLM”), Commodities, Rates)
b. Conduct Program; and
c. Compliance and RISK
2. Compliance Risk Management Program: covering 2nd Lines of Defense (“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:
This position will assist in operationalizing the implementation plans in response to regulatory settlements and to support undertakings made to various regulators specifically working with Compliance Advisers in providing regulatory advice and guidance concerning the firm’s flow as well the firm’s algorithmic and automated trading platforms across all Global Business Lines ("GBL"). The position will work closely with front office trading, IT, legal and risk to understand strategies and requirements needed to develop and execute transactions.
• Assist in implementation of plans and undertakings made to various regulators.
• Work with Compliance Advisers to lead and document reviews, surveys and gap analyses assessing undertakings and local norms and controls.
• Coordinate Front Office trading and IT to understand strategies employed and algorithms and automatons utilized;
• Assist the firm supervisor’s and other control functions in determining whether appropriate level one controls are in place to monitor and ensure the data integrity of new and existing systems utilized for trading;
• Work with Business Managers, IT and Compliance Surveillance teams to: (1) develop processes, policies and procedures for development and implementation of algorithms and automated trading systems; and (2) design periodic testing of trading systems, algorithms and trade reporting;
• Assist in providing advice to front office traders, system developers and IT support on general Compliance issues, including current regulatory framework for algorithmic and automated trading of equities, options, fixed income, FX, and futures;
• Assist in providing advice on new products, new systems, connections to new market centers, and rule changes;
• Review Business Requirements documentation to ensure that proposed changes align with new or existing rules / regulations pertaining to trading of equities, options, fixed income, FX, and futures;
• Review functional documentation to ensure that proposed system changes align with the rules they are designed to follow;
• Review testing plans designed by Business Analysts pertaining to system modifications;
• Review expected test results on user acceptance testing (UAT) to the extent that the system is following functional specifications; and
• Participate and advise various Committees on regulatory issues.
Minimum Required Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Bachelor’s degree;
• Successful candidates will possess strong compliance experience in both securities and futures trading, having worked closely with algorithmic or market-making traders, in a trading floor compliance role or otherwise for at least 5 years;
• Must have working knowledge of the Securities Exchange Act of 1933 and 1934, FINRA, NYSE, listed options and equities exchange rules, Commodity Exchange Act and futures exchange rules;
• Strong organizational skills and capable of dealing with multiple projects simultaneously
• Good interpersonal skills and effective writing, analytical and communication skills
• Understanding of trading systems and basic programming knowledge; and
• Proficient in conducting in-depth analysis of trading systems designs, identifying and escalating potential regulatory issues.
Preferred Qualifications:
• Advanced degree in business, finance or law;
• English required, French language skills a plus;
• Former employment with securities regulators such as SEC, FINRA, national securities exchanges, NFA, and/or CFTC.
FINRA Registrations:
• Series 4, 7, 63, 57 preferred
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.
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