What is this position about?

As the Head of IS KYC team, is responsible for the day to day activities of the KYC team covering transfer agency, investor AML, KYC procedures, coordinate with Compliance and Risk for KYC regulatory updates, ISAE, IG and MLRO audits, MI reporting, global projects, investor onboarding and client servicing.

What would be your typical day at BNPP Paribas look like? 

Primary Role Responsibilities

Management of Hong Kong IS KYC team of 6 people 

1)    Manage KYC team: hiring, coaching, performance reviews and oversight on KYC staff, resourcing monitoring, training and manage people issues and conflicts.

2)    Perform regular review of KYC processes, as per Group policies and regulatory requirements and system enhancements with a mind to increasing efficiency and reduce manual controls .

3)    Strong knowledge of various IS processes in order to integrate the KYC procedures with all other IS team operations for a seamless and efficient overall IS client experience.

4)    Ensure client satisfaction and service are delivered in a controlled environment, strict compliance with BNP Paribas’ internal guidelines as well as external regulatory environment.

5)    Being point of escalation for KYC issues and concerns from clients and investors and follow up in case of perceived issues in service delivery, timely reporting, and escalation of KYC incidents.

6)    Enhance the communication/collaboration within and outside the team.

7)    Participating in Global Committees relating to IS KYC topics.

8)    Acting as a signatory for relevant correspondence in accordance with approved authorisation levels.

AML/CFT and FATCA/CRS:

1)    Expert knowledge in AML/CFT and FATCA/CRS risk and regulatory requirements for the Cayman Islands. 

2)    General knowledge in AML/CFT and FATCA/CRS risk and regulatory requirements for BVI, Hong Kong, Singapore and New Zealand / Australia.

3)    Keep abreast with the regulatory and market development of KYC/AML and FATCA/CRS.

4)    Manage the KYC team to perform KYC and FATCA/CRS on investors during onboarding process and collect the KYC and Tax information / documents.

a)    Ensure that investor due diligence has been completed to a satisfactory standard and perform regular review on investor KYC in accordance with the regulatory and the Bank’s requirement.

b)    Detection of any unusual and/or suspicious transactions by investor with due reporting to department head and Compliance Officer.

c)    Ensure client investors are KYC and FATCA/CRS compliant, and escalate any non-compliant investors in a timely manner.

d)    Ensure investor KYC and FATCA/CRS information and status are accurately maintained.

e)    Ensure clients are FATCA/CRS compliant by proving files for filing before regulatory deadline.

5)    Complete all identified mandatory training to ensure understanding of relevant/applicable Group policies (including but not limited to financial security related matters) and escalate any irregularities where necessary. Ensure that the KYC team has completed and will adhere to the same. 

Organization: 

1)    Adapting staff number to the level of activity (up & down) with a minimum level of anticipation.

2)    Providing inputs for adapting the KYC team regarding available resources and talents.

3)    Ensuring coordination with Regional/Global IS teams and Compliance, especially regarding alignment with globally defined operating models and regulatory requirements for IS KYC.

4)    Recommending opportunities to enhance client focused service delivery relating to IS KYC.

Operational Risk Management relating to IS KYC:

1)    Ensure the KYC team’s operating model is in compliance with regulations, market infrastructure evolution and BNP Paribas internal control rules and meets compliance and regulatory obligations.

2)    Managing reviews by the OPC/ORC, Quality Assurance and IG teams. Overseeing the regular sampling reviews, following up with any finding(s) and leading the teams to implement new controls.

3)    Monitor all sanction and screening requirements and ensure the operating model complies.

4)    Managing KYC team controls (RCSA and GCP reviews) and following up with any recommendations.

5)    Participate in the KYC product approval process as domain expert, giving inputs for setup and ongoing updates of the procedures to minimize risks.

Coordination Local / Hub / Global for IS KYC: 

1)    Participate in transversal and cross location activities and projects.

2)    Be an active APAC IS KYC representative through regular meetings and calls with Hub & central project teams for IS KYC and FATCA/CRS initiatives.  Represent the needs and specificities of APAC on topics such as:

a)    Client needs such as KYC and FATCA/CRS reporting for Fund Board, MLRO, IM and investors,

b)    Regulatory requirements for the relevant client domicile locations, and

c)    Efficiency initiatives

Projects: 

1)    Work closely with Transversal team and Global teams in IS KYC projects; contribute to and assist to drive the change, leading the KYC team to participate in system and process automation to maximize efficiency and promote a secure and control-based environment.

2)    Investor KYC onboarding for new fund launches and KYC reviews to onboard transfer of administration clients with an existing investor base.

Communication:

1)    Ensure good level of communication with local and global management on IS KYC business, projects follow-up, incidents and problems (escalation).

2)    Approachable and transparent communication with the KYC staff for any enquires, with a positive working attitude and mindset and being a role model to the team.

3)    Ensure that the KYC team has adequate knowledge of the global organization of BNP Paribas.

4)    Ensure efficient and accurate reporting on KYC team activity.

Conduct: Adhere to the Code of Conduct and act accordingly internally, when facing clients and providers. 

What is required for you to succeed?

•    10 years or above relevant experience in leading the IS/TA operation at location as well as a key player in global initiatives.

About BNP PARIBAS

As the leading European Union bank, and one of the world’s largest financial institutions with an uninterrupted presence in the region since 1860, BNP Paribas offers a wide range of financial services for corporate, institutional and private investors spanning corporate and institutional banking, wealth management, asset management and insurance. 

We passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued and encourage applicants of all backgrounds, including diversity of origin, age, gender, sexual orientation, gender identity, religion applicants who may be living with a disability. We have a number of internal employee networks in place to empower our staff to act and challenge the status quo.

•    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

BNP is committed to financing a carbon-neutral economy by 2050. The Group is a founding member of the Net-Zero Banking Alliance and has set up its own Low Carbon Transition Group to support its clients through their energy transitions.

https://careers.apac.bnpparibas/

More information 

BNP Paribas - Diversity & Inclusion Journey

BNP Paribas - The Bank Of Green Changes

Award Obtained

BNPP has won Top employer Europe award in a 10th consecutive year