Head of Compliance, BNP Paribas Securities (Asia) Limited
Location: HK-Hong Kong (HK)-Hong Kong
The BNP Paribas Group is a leader in banking and financial services, employing over 185,000 people across 75 countries and 5 continents. At BNP Paribas, we work continuously on behalf of our clients, helping them to realise their projects around the world. You can be an important part of this, helping us to serve our clients both in mature and emerging markets, providing them with financial solutions across a diverse range of expertise, products and services. Our origins lie in Europe but nearly a quarter of our employees now work in our multi-award-winning Asian offices and we are a committed player in all APAC markets.
In APAC, BNP Paribas has been present in the region for over 150 years and plans to grow its business from €2bl EUR to €3bl EUR by the end of 2016. With 9,000 employees in the region and a presence in 14 markets (with 3 main centres in Hong Kong, Singapore and Tokyo), BNP Paribas offers you the chance to grow with us in Asia Pacific.
In APAC, the Compliance function is being transformed in order to meet the requirements of a changing regulatory landscape in the Region and globally. We are committed to learning and, through our APAC Campus in Singapore, provide dedicated Compliance training and seminars to ensure our people are kept up to date with changes in regulation and best practices.
A fully dedicated role to BNP Paribas Securities (Asia) Limited (“BNPPSA”) with focus on promoting the compliance culture and enhancing the compliance controls specifically in relation to BNPPSA, on the instruction and under the oversight of BNPPSA’s management.
Another objective of this role is to create a clear and dedicated Compliance contact for the Hong Kong SFC which will help foster and improve the ongoing dialogue and relationship.
This is a key role in the Global Markets & Institutional Banking Compliance Governance Model and a senior member of the Hong Kong Global Markets & Institutional Banking Compliance team.
The role will also support the APAC Chief Compliance Officer, the Head of Compliance for Greater China, and the Head of Global Markets & Institutional Banking Compliance for APAC on all regulatory and compliance issues in relation to BNPPSA,
Major stakeholders include all relevant BNPPSA staff; business and functional heads and teams.
On the Global Markets (Equities) side – act in conjunction with the Equity Compliance advisory team in Hong Kong looking after all regulatory affairs (e.g. regulatory reporting, inquiries, investigation, and inspection, as well as regulatory liaison and relationship) in relation to BNPPSA’s equities business in Hong Kong. He/she will also co-ordinate with other APAC Equity Compliance teams in relation to all Regional Equity Regulatory/Compliance issues applicable to BNPPSA.
On IBA side - act In conjunction with the IBA compliance advisory team in Hong Kong looking after the regulatory affairs (e.g. regulatory reporting, inquiries, investigation, and inspection, as well as regulatory liaison and relationship) of BNPPSA’s IBA business in Hong Kong. He/she will also co-ordinate with other APAC IBA Compliance teams in relation to all Regional IBA Regulatory/Compliance issues applicable to BNPPSA.
Other key aspects of the role include regulatory risk assessments, dealing with regulatory updates, developments and inquiries relating notably to the businesses of BNPPSA.
- Formulate and update all relevant compliance policies and procedures;
- Promote the compliance culture and enhance the compliance control;
- Implement any initiatives sponsored and supported by BNPPSA Management;
- Identify, manage and control compliance, regulatory and reputational risks;
- Identify and manage any control gaps;
- Act as a coordinator and controller to ensure that the surveillance processes and compliance testing programs implemented by the Monitoring & Surveillance team are appropriate and adequate;
- Maintain a Breach Register to record all breaches of requirements of the BNPPSA Compliance Manual, other relevant regulatory or internal rules and regulations and unreasonable delays by business in responding to questions from Compliance.
- Coordinating and conducting trainings on compliance related topics;
- Coordinate and lead all regulatory inspections and any required remediation processes;
- Coordinate all IG inspections with a focus on compliance/regulatory related matters;
- Along with other Compliance teams, facilitate the implementation of new electronic systems and/or enhancements being made to existing Compliance systems;
- Investigate, in conjunction with various internal functions where necessary, and handle all actual and potential compliance breaches;
- Act as the main Compliance contact for the Hong Kong SFC in relation to all regulatory affairs, and liaise, as needed, with the HKMA in Hong Kong and local regulators in other locations;
- Work closely with other Compliance teams and domains in Hong Kong and APAC in relation to all domain specific compliance issues and coordinate with them on all necessary compliance actions and reporting;
- Observe and implement missions and responsibilities of BNPP Group Compliance functions; and
- Implement relevant BNPP group and local compliance policies and procedures, and ensure compliance thereof;
Competencies (Technical / Behavioral)
- University graduate with 8 years or more Global Markets & Investment Banking Compliance advisory experience with top tier international banks or financial institutions
- In-depth knowledge of regulatory and compliance requirements on equities and investment banking activities, particularly the Hong Kong SFC rules and regulations
- Knowledge of regulatory requirements in APAC regions is an advantage
- In-depth knowledge on Global Markets products
- Good communication and inter-personal skills
- Good awareness of regulatory and reputational risk and concerns
- Ability to analyze and identify important issues and provide clear opinion and advice
- Proactive and practical approach
Specific Qualifications/Experience Required
- Experience in working with a Hong Kong regulator is an advantage
- Regulatory Reporting