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Head of PCMO, Hong Kong

Employer
BNP Paribas
Location
Hong Kong, Hong Kong
Salary
Competitive
Closing date
Jun 7, 2023

View more

Job Function
Operations
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
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

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.

https://careers.apac.bnpparibas/

Position Purpose
The position holder is responsible for managing HK PCMO both in terms of daily / BAU activities and projects/initiatives (territory, region, global).

Responsibilities

Direct Responsibilities

• Manage department in line with Bank's strategy & policies.
• Direct responsibility for smooth daily operations of HK PCMO teams comprising Middle Office, Current Account & Teller Operations & have oversight responsibility for cash processes outsourced to ARPC, to ensure that all transactions are pre-processing checks/scanned/processed promptly & accurately with minimum errors & incidents, in accordance with internal & external guidelines, established control procedures & regulatory requirements.
• Supervise operationally HK PCMO back-office, including CDL (sight deposits, term deposits & liquidity management) middle offices.
• Make sure all operational procedures & permanent controls are effective & well in place harmonized & enforced across all entities (local & regional). Ensure relevant SOP / Risk Assessment/Control checkpoints, ORUS are updated & maintained & in line with Management policies, compliance &/or regulatory requirements. Ensure proper controls, monitoring & escalation/resolution of payment/nostro breaks & other operational issues/gaps.
• Manage daily resource capacity & flexibility including shifts, holidays & service hours coverage in line with Business requirements.
• Adhere to external cut off times for local cheque clearings & domestic/international payments processing
• For outsourced activities, to ensure pre-processing checks are performed in accordance to SOP & transactions scanned to ARPC as per SLA cut offs
• Provide processing support for internal & external customers & act as the main liaison between ARPC & Business Lines/clients. Provide oversight on activities outsourced to ARPC.
• Manage payment investigations including L2 SHINE reviews/escalations, NY OFAC queries etc
• Ensure staff are well trained for their roles, are up to date with new policies/procedures & applicable regulatory requirements, & comply with bank mandatory requirements.
• Regular review of staff system profiles & accesses to ensure the required accesses are valid
• Ongoing cost control & cost management
• To perform timely management reporting & ensure adherence to FORECAST incident reporting policy
• Ensure BCP procedures are up to-date & participate actively in BCP drills/exercises to mitigate risk
• Responsible for implementation of the Target Operating Model in HK PCMO (if any).
• Lead the efforts & all possible initiatives so as to constantly improve STP rate & streamline processes for greater efficiency in PCMO with direct impact on Cut of Time offer proposed by the Bank to Clients
• Contribute & coordinate with IT teams onto new systems/features deployment impacting HK cash management to ensure all new systems or upgrades are well tested before implementation while guaranteeing proper execution of operations (e.g., BPH, MTS, etc.) to mitigate operational risk.
• Contribute on the review of USD domestic flows in HK in relation to the remediation initiatives
• Key contributor on GFS reviews for HK PCMO
• Implementation of the SR7/R16 GFS TOM for Incoming payment messages & related initiatives for HK PCMO
• Contribute in the roll out of new processes & adoption of operational controls in line with updates or changes in Group Compliance/ Regulatory Requirements as it impacts PCMO
• Active participation on ad hock tasks &/or projects as assigned by Management from time to time
•Bring Direct contribution to BNPP operational permanent control framework
•Minimize operational failure, including but not exclusively the risk of fraud by helping to devise & by implementing sufficient regular controls
•Ensure appropriate escalation to management &/or permanent control (or compliance as appropriate) as soon as an issue is identified.
•Comply with internal & external regulatory & compliance requirements
•Comply with the BNPP standards of Code of Conduct
•Comply with the BNPP IT Security policies
•Anti-Money Laundering / Financial Sanctions "AML/FS") related duties: Operations are an integral part of the control framework including for AML/FS topics. In that respect, in performing your role you are expected to ensure adherence to AML/FS-related Group Policies & execution of associated operational controls, & to promptly escalate any resulting hit for analysis & decision

Contributing Responsibilities

• Contribute to the CIB of Tomorrow / BNPP 2020 Initiatives for Corporate Bank.
• Contribute to development of solutions/workarounds for client RFPs/ business requirements
• Contribute to the transformation of regional organization towards the target operating model.
• Be one of the Regional subject matter expert on Cash Management Operations processes to other APAC countries.

Technical & Behavioral Competencies

• Cash Management products & Operations knowledge & experience
• Cash IT system knowledge
• Group rules & policies
• APAC network & regulations
• Systems & process
• Control awareness & operational risk skills
• People skills & Management experience
• Good Communication skills
• Customer & Service Focus

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