Job Details
We are looking for **Senior Associate / Assistant Manager - RISK ORC ISPL**
**Level of experience** **Location** **About BNP Paribas Group:**
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 71 countries, with approximately 199,000 employees. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
**About BNP Paribas India Solutions:**
Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, a leading bank in Europe with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 6000 employees, to provide support and develop best-in-class solutions
**About Business line/Function :**
**RISK Presentation**
**Risk Coverage:**
* RISK perimeter encompasses credit and counterparty risk, market risk, funding and liquidity risk, interest rate and FX risk of the Banking book, insurance risk and operational risk.
* RISK covers all Groups activities and geographies.
* To provide a holistic view of the risk profile to the Banks management and Board, RISK coordinates with the relevant control function(s) to ensure relevant risk assessment, aggregation and reporting.
**RISK is a key part of the Banks internal control framework**
**RISK accompanies the Groups development**
* RISK ensures the risk taking policy and the risks generated by the Banks activities comply and are compatible with its strategic objectives.
**RISK is one the 4 integrated control functions of the Group**
* RISK is the second line of defense over the Groups risk management activities.
* The Chief RISK Officer (CRO) reports to the CEO and is a permanent member of the Group Executive Committee.
* The CRO has a direct and independent access to the board.
* **An integrated and independent function maintaining close relationship with the Business Lines: INDEPENDENCE and PROXIMITY**
* A de-concentrated organization, adapted to each business.
* Constant discussion with the businesses to advise and challenge them on their risks.
**RISK OBJECTIVES:**
* Accompany the Groups development with a business-minded spirit.
* Provide a fast, complete and reliable information on our risk profile.
* Offer high quality risk management expertise to the Groups stakeholders.
* Foster risk anticipation and position RISK as a prospective watchtower.
* Prepare the Group for high and higher regulatory expectations.
**RISK ORM department**
ISPL RISK Operational Risk Management (RISK ORM) belongs to the second line of defense of BNP Paribas, and more particularly to the RISK Function of the Group. It is placed under the responsibility of the Asia Pacific regional Head of RISK ORM COO Office, Platforms & Territories (COOPT).
The department is responsible to independently challenge and supervise the Operational Risk management of activities in ISPL and APAC (Front to Back) through 2 different teams. This is achieved through: framing operational risk methodology and disseminating risk management culture across businesses; assessing the adequacy of the operational risk management set-up; ensuring effectiveness of 1st LOD control environment; contributing to the detection, anticipation and response to risks; alerting business and RISK stakeholders on any significant risk issue; providing a consolidated view on business operational risks profile.
The ISPL RISK ORM mandate is to independently challenge and supervise the operational risk management framework of ISPL and APAC activities as described in the level 2 procedure Organizational Framework and Governance for Operational Risk Management and Permanent Control Framework (ref RISK0327).
**Job Title:**
**RISK ORM Officer**
**Date:**
May 2021
**Department:**
RISK ORM ISPL
**Location:**
Mumbai
**Business Line / Function:**
RISK
**Reports to:**
(Direct)
Team Manager RISK ORM ISPL (stream 1 ISPL risk management)
**Grade:**
(if applicable)
(Functional)
NA
**Number of Direct Reports:**
NA
**Directorship / Registration:**
NA
**Position Purpose**
The position is part of RISK ORM ISPL team with the key role to provide relevant RISK and senior management (Regional/Local & Central) a synthetic, transparent, exhaustive, and consistent view of Operational RISK across ISPL activities.
It will ensure the establishment and comprehensive execution of the independent control plan defined for the entity.
**Responsibilities**
**Direct Responsibilities**
**Operational Risk Framework Assessment:**
Management of procedures: ensure process and procedures issued by the 1st Line of Defense are consistent with Group standards (upper level procedures).
Oversight on 1st Level controls: ensure that the 1st Line of Defense control framework is effectively designed and implemented.
Risk & Control Self-Assessment (RCSA) check and challenge:
o Risk mapping: ensure risks are identified and correctly assessed;
o Control mapping: ensure the control framework is updated and relevant to risks;
o Residual risks assessment challenge.
Review and validation of derogations (exemptions) to procedures and control plans.
Incident Management:
o Challenge historical incidents analysis and action plans defined;
o Analyse impact on risk and control framework assessment;
o Perform Quality Review on Historical Incidents collected.
Recommendations and Permanent Control Actions: monitoring of closure.
Contribution to the Operational Risk &Control report.
**Governance:**
Contribute to the preparation, organisation and secretariat of the operational risk related committees (and notably the Internal Control Committee) at ISPL level in liaison with ISPL relevant teams.
Ensure comprehensive coverage of agenda items as per Group reference procedure.
Monitor the action plans identified.
**Independent Control Testing for ISPL and thematic reviews:**
Supervise First Line of Defense Control framework through adequacy assessment, verification and challenge
o Ensure that 1st level controls are performed in line with procedure and properly documented (audit trail),
o Ensure that unsatisfactory or marginally satisfactory controls result in the implementation of an action plan.
Execute relevant 2nd level controls (Re-performance) on relevance and performance of local extensions of generic control plans including Compliance delegated GCPs, if any.
Assist and advise the 1st Line of Defense in ISPL on 1st level controls improvements.
Review specific activities or processes from an operational risk perspective, to ensure that the relevant risks are correctly identified, assessed and appropriately mitigated.
Alert and escalate on attention points resulting from the controls.
Contribute to the production of a synthetic, comprehensive, and actionable testing results finding and recommendation reporting to senior management and RISK ORM.
**Awareness / Training / Projects & Initiatives:**
Promote and drive awareness to risks across ISPL.
Contribute to RISK ORM meetings, forums and committees.
**Technical & Behavioral Competencies**
**Technical**
* General risk management awaren