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Vice President - Model Risk Auditor
BNP Paribas
New York, NY, United States
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Business Overview:
In accordance with section 165 of the Dodd-Frank Act (DFA), BNP Paribas has established an Intermediate Holding Company (IHC) over its US subsidiaries. Furthermore, BNP Paribas has set up a Combined US Operations (CUSO) and IHC governance framework to support risk-based capital, liquidity risk management, and regulatory reporting.
Inspection Générale North America (IGNA) Hub is part of BNP Paribas’ global Internal Audit group (Inspection Générale or “IG”) which is staffed by highly qualified individuals who perform high quality risk-based reviews to provide reasonable assurance to senior management on the adequacy of internal controls and recommend control and efficiency improvements
In line with the Federal Reserve Bank’s expectations IGNA has built an Enterprise Risk Management team to evaluate the bank’s capital planning, liquidity risk management and, model risk management practices. In addition, the team also evaluates broader Enhanced Prudential Standards (EPS) requirements related to Risk Management and Board Governance.
Responsibilities:
• Conduct multiple, complex, concurrent audit assignments primarily focusing on assessing relevant model development and independent model validation.
• Develop appropriate controls and audit approach to review the effectiveness and compliance of key aspects of each model under review in line with regulatory and BNP Paribas requirements, particularly:
◦ Model Governance (Committees, Approval process, Effective Challenge process, Overlay management, model inventory)
◦ Model documentation
◦ Model Inputs (Data quality controls)
◦ Model development (Model selection, Model Theory, Assumptions, Sensitivity analysis, Model output analysis)
◦ Model Use
◦ Monitoring and Back testing
◦ Model Validation process
◦ 1st and 2nd level controls
• Write audit reports with value added recommendations.
• Manage time and priorities while conducting audits.
• Review and prepare risk assessments for Audit Units.
• Validate the adequacy and appropriateness of remediation or resolution plans to address regulatory and internal audit recommendations.
• Deliver clear presentations to Senior Management and IG management.
• Adopt and promote strong ethical values.
Minimum Required Qualifications:
• Bachelors or Master’s degree in quantitative finance, mathematics, statistics, economics etc.
• Strong knowledge of financial products, risk management, accounting, or auditing (5 + years of work experience).
• Familiarity with model risk management practices and regulations.
• Excellent oral communication skills to interact effectively with the different stakeholders.
• Ability to:
◦ Work in a team, liaise with other bank departments and adapt to new situations and approaches
◦ Form audit opinions and present them effectively
Preferred Qualifications:
• Designations such as CFA, CIA, and FRM are preferred.
FINRA Registrations Required:
• Not required
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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