Chief Risk Officer – China Securities
- Standard / Permanent
In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 18,000 employees* and a presence in 13 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.
Worldwide, BNP Paribas has a presence in 68 markets with more than 193,000 employees. It 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. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.
* excluding partnerships
BNP Paribas offers you an exciting career in an international business environment that is fast-paced, diverse and focuses on creating high-value relationships with our clients. We offer competitive salary and benefits, as well as a working environment where you’re valued as part of the team.
The Chief Risk Officer (CRO) role is responsible for an effective risk management framework in China for BNP Paribas Securities (China) Limited (the “Company”) within the framework of standards laid down by the BNP Paribas (BNPP) Group globally, regionally and as defined by relevant Chinese regulatory authorities.
This includes assistance with, and knowledge of, all functions in all parts of the Company. Whilst ensuring the risk management framework is consistent and aligned with the BNP Paribas Group, this role will lead the implementation of that second line of defense risk management framework within the Company, ensuring there is strong alignment and interaction with tasks undertaken by second line of defense functions such as Compliance and Legal.
The CRO should be able to consider and manage detailed risk topics with different RISK domains at BNPP APAC level and ensure the implementation of risk management framework within the Company according to the relevant local regulations.
Thus the CRO will be tasked to:
• Ensure a proper oversight of the Company’s activities in China from a risk perspective, in order to be aware of and anticipate any risk evolution;
• Ensure a coherent, consistent and global vision of China in terms of activities, risks and challenges;
• Drive the risk anticipation and reporting activities in the company;
• Contribute to setting up risk appetite limits, to participate into risk taking decisions and to provide oversight on policy and regulatory-related matters;
• Liaise and coordinate with the Business Lines, other Functions and the RISK teams.
Following are the roles and responsibilities of the CRO:
• Act at senior management level as CRO of the company in charge of risk monitoring and risk management framework;
• Assist the Board of Directors and senior management in assessing the risk function and to supervise the implementation of risk management framework;
• Act as single point of contact for the Company as required by the relevant local regulations and to periodically prepare the relevant regulatory risk reports;
• Assess the adequacy of the overall risk profile of the company to the Group’s risk appetite;
• Contribute proactively in new activity and transaction processes;
• Strengthen the governance, risk culture by organising and conducting RISK forums;
• Validate towards relevant local regulators on the risk methodology and models being used;
• Ensure compliance with applicable local regulatory requirements, BNPP Group Policy, including CSR aspects;
• Ensure the implementation of stress testing for the company as required under CSRC regulation;
• Be responsible for the team management, people development (i.e. skills, training, career path, succession plan…) and tracking expenses.
The CRO is also responsible for the permanent control framework for the risk department.
Permanent Control Aspects
For all managers:
• Direct contribution to BNPP operational permanent control framework.
• Responsible for the implementation of operational permanent control policies and procedures in day-to-day business activities, such as Control Plan
• Responsible for ensuring team members to comply with regulatory requirements and internal guidelines.
• Responsible for reporting all incidents according to the Incident Management System
• Responsible for ensuring job descriptions are written, distributed and updated
• Ensure audit recommendations are resolved within the specific timeline.
Technical & Behavioral Competencies
• A robust understanding of the Chinese Securities & Futures industry;
• In-depth knowledge in regards to the management and monitoring of different types of risk: market, credit, counterparty, liquidity & operational; valuation and pricing of instruments; creation and/or development of improved diversified and complete risk metrics, methodologies, framework, processes and systems based on in-depth knowledge and experience;
• Knowledge of financial markets (settlement rules and regulations) and how financial instruments are valued;
• Strong leadership qualities, business and solution oriented, forward-looking approach;
• Good communicator (oral and written) especially of technical issues to non-specialist;
• Excellent presentation skills;
• Able to organise, coach and motivate others;
• Ability to work with all levels of management and across business units and functions;
• Creative problem solving skills, good decision making based on quantitative and qualitative analysis;
• Language skills: Fluent Mandarin & English (oral and written skills);
• PRC National is preferred.
• Commitment – Committed to achieving the organization’s objectives. Demonstrates perseverance and is accountable for own actions.
• Communication – Clearly conveys information and ideas to individuals or groups. Adjusts behavior to accommodate tasks, situations and individuals.
• Decision Making – Is able to identify and understand problems and issues, commits to actions and involves others.
• Presentation skills – Presents ideas effectively to individuals or groups. Delivers presentations suited to the characteristics and needs of the audience.
• Risk awareness – Adheres to the organization’s processes and procedures. Demonstrates a good understanding of compliance issues and implements work practices that minimize operational and reputational risk.
• Team Orientation – Works with the team and the broader organization towards shared goals and treats all colleagues and clients as partners.
• Technical/professional knowledge – Demonstrates a satisfactory level of technical and professional skills/knowledge in job related areas, including competencies around Global Market risks / modelling. Keeps abreast of current developments and trends in area of expertise.
Specific Qualifications (if required)
• Academic background in economics, science, engineering or pass the FRM and CFA qualification examinations
• Must be registered with CSRC as senior management staff for 2 years or more, and actively working in local Securities & Futures industry and fulfil other requirements requested by local regulators if applicable;
• Must possess a strong work ethic and abide by a high standard with respect to Code of Conduct;
• Having one of the following professional backgrounds:
1. Engaged in risk management work in the banking and insurance industry for more than 10 years (inclusive), or engaged in risk management work in overseas mature market investment banks for more than 8 years (inclusive);
2. Engaged in the business of a Securities & Futures and/or Investment Fund Management company for more than 10 years (inclusive),
3. Engaged in securities supervisory institutions and/or self-regulatory organizations for more than 8 years (inclusive).