Client Engagement and Protection Regulations Officer
BNP Paribas
- Hong Kong
- Permanent
- Full-time
- Multiple regulations across the globe: Europe (such as EMIR), U.S. (such as Dodd Frank Act, FATCA) and several jurisdictions in Asia Pacific (e.g. in Hong Kong)
- Extra-territoriality
- Various and heterogeneous requirements such as timely confirmation, trade reporting, mandatory clearing / margining, distribution to Equity Research to Major US Institutional Investors only
- All types of clients (Institutional, Corporates, Central Banks, Hedge Funds) impacted
- All BNP Paribas entities (such as non-European subsidiaries) must comply with their own obligations
(ii) undertaking procedural exercises, when needed, to comply with our regulatory obligations and
(iii) informing the clients about the impacts on our business relationship with them should BNP Paribas fail to comply with its own obligation.An intensive internal coordination is also required to educate the Business representatives (Global Market and Coverage) about the regulatory framework, the impacts on their clients and the relevant contingency action plan.The Client Engagement and Protection Regulations APAC team (“CEPR APAC”) is also closely collaborating with other functions looking after regulatory affairs such as Legal, Compliance, Project Management, IT, Finance, Due Diligence and both Global Market Regulatory Affairs and Global Market Business Management.CEPR APAC is client facing, responsible for client communication related to regulatory changes resulting from MIFID 2, EMIR (European Market Infrastructure Regulation), the Dodd-Frank Act in the US, other OTC derivatives regulatory regimes (including those pursuant to HKMA and MAS rules), tax-related legislations (e.g. FATCA and AEOI [Automatic Exchange of Information]), Equity Research enablement, among others. All this need to be addressed diligently due to the very important stakes; indeed, not being compliant in due time could result trading disruption, loss in firm’s reputation and regulatory breach.ResponsibilitiesDirect Responsibilities
- Regulatory Onboarding and Support
- Tackling regulatory blocks that prevent trading
- Addressing queries from clients, traders, marketers and relationship managers * Regulatory Remediation Exercises- Ensuring our existing clients comply by the regulatory enforcement date * To achieve Regulatory Onboarding and Regulatory Remediation Exercises, the Client Management Regulations team aims at:- Preparing the necessary regulatory materials to dispatch to clients
- BNPP offers and positions (i.e. encourage signature of ISDA protocols)…
- Remediating any pending items necessary to meet regulatory requirements by their compliance dates and minimize any trading disruption with our valued clients
- Reaching out to our clients to ensure they have completed the necessary documentation:
- Following counterparties adherence to ISDA protocols / Representation Letters
- For clients who did not sign the ISDA protocol, pushing on bespoke legal documentation
- Addressing potential requests from regulators
- Working with the different functions involved in this regulatory compliance effort (such as Business Management, Legal and UK & US counterparts)Contributing Responsibilities
- Anticipating the new rules / change of rules to come (Regulatory Oversight)
- Contributing to the Permanent Control Framework
- Contributing to the alignment of procedures across the regions
- Contributing to a Global Compliance Status update and KPIs
- Experience in project management with a strong communication skills
- Knowledge related to OTC derivatives regulations and / or tax legislations a plus
- Understanding of derivatives
- 1 - 2 years in finance or banking related industry
- Degree in Finance, Business, Computer Science (a plus)
- Fluent in English, written & verbal. Mandarin will be a plus.
- History of achievement in previous roles
- Innovative, creative and pro-active
- Rigorous to ensure quality
- Strong interpersonal skills
- Excellent verbal, presentation and written communication skills
- Excellent analytical and problem solving skills
- BNP Paribas PRIDE is highly active in favour of the LGBTQIA+ community
- BNP Paribas MixCity which fosters better representation of women at all levels of the organization
- Ability, the mutual aid network for employees with a disability or a disabling or chronic illness
- BNP Paribas CulturAll which celebrates diverse backgrounds
BNPP has won Top employer Europe award in a 10th consecutive year