Head of Operational Permanent Control

7 months ago

Sydney, Australia BNP Paribas Full time

HEAD OF OPERATIONAL PERMANENT CONTROL (JOB NUMBER: OPE002649)

The Securities Services business of BNP Paribas is among the world leaders in the securities services industry. 2S is ranked 5th in the world in terms of assets under custody and is ranked the first non-American securities services provider. We have an A rating by Standard and Poor's.

Our mission is to ensure smooth and secure financial transactions for our clients (banks, brokers, institutional investors and corporates) and to protect their assets across all markets. Our clients are: fund managers (including alternative funds), insurance companies, sovereign-wealth funds, superannuation funds, brokers and investment banks, commercial banks, major companies and issuers. We help our clients to focus on their key activities and become more efficient by taking charge of their middle and back office services (especially for brokers, investment banks and asset managers in Europe, USA and Asia Pacific).

We operate in all classes - equities, bonds, mutual funds, investment funds, listed derivatives, OTC derivatives and alternative funds and structured products. We are present in over 100 markets worldwide with Assets under Custody of USD9,070 billion and process 85 million transactions each year.

Located within the operating entities of BNP Paribas, the role of the Head of OPC is to ensure the continuous operational risk management framework is implemented and adequately adapted in 2S Australia. To achieve this objective, the OPC role supports 2S Australia managers and works closely with the Risk ORC Australia & New Zealand team

**Positioning and Reporting lines**

The OPC Australia mandate is to support 2S Australia managers in:

- The identification and assessment of operational risks;
- The definition of a risk appetite and the corresponding risk monitoring and mitigation framework.

The Head of OPC, 2S Australasia reports hierarchically to the Head of Securities Services, Australasia. The OPC perimeter includes all operational risks for 2S business processes performed in Australia.

**Key Responsibilities**:
The Head of OPC, 2S Australia is responsible for supporting 2S Australia managers in:

- Identifying and assessing operational risks they are exposed to and in defining a risk appetite;
- Ensuring the continuous implementation and adaption of this framework and improvement actions as required;
- Ensuring awareness of risks and providing training on the risk framework;
- Developing risk monitoring tools; and,
- Ensuring transparent monitoring information to their reporting lines, the independent control functions, the governing bodies and the supervisors.
- These support responsibilities extend to the operational risk processes and themes within 2S Australia and include the specific themes of fraud, third-party, and Information and Communication Technology (ICT) risk management.
- 2S Australia OPC is close to the operational processes and is coordinated under the sponsorship of the 2S Australia management team.

**Main Accountabilities**:
**Identification and assessment of risks and controls**
- Support 2S Australia Managers in
- Completing the Risk Control Self-Assessment (RCSA) -specifically, in the performance of risk identification, evaluation and validation of the Risk profile assessment and in defining action plans for extreme and serious risks.
- The identification and assessment of 3rd party risk and in defining and operating a risk mitigation and monitoring framework based on Group guidelines.
- The operational risk assessment of new activities, products or large projects.
- Ensure the RCSA is validated locally and is consistent with the risk appetite.
- Follow up on remediation plans and conditions when necessary.
**Verification and controls assurance**
- Support 2S Australia managers in defining and deploying the generic control plan where necessary and implementing controls consistently with the local risk assessment.
- Challenge first level controls.
- Perform risk based Formal Supervision.
- Follow up unsatisfactory and marginally satisfactory results.
**Significant incidents (Historical Incidents HIs))**
- Ensure significant incidents are identified, alerted to management, analysed and entered to FORECAST.
- Perform first level controls on the collection of His such as reconciliations between incidents management and accounting tools.
- Assist in providing management reporting on key incidents.
**Audit Recommendations**
- Support 2S Australia managers in implementing audit recommendations and permanent control actions.
- Follow up with those responsible for implementing recommendations.
- Produce reports and escalate upcoming and overdue recommendations.
- **Governance and reporting**
- Support 2S Australia in ensuring the Group and 2S governance and reporting framework is implemented.
- Contribute actively to local committees.
- Contribute to the Internal Control Committee (ICC) reporting managed by RISK ORC.
- Contribute to

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