Model Validator, Trade Surveillance

In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal's Top Employers in 2024. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of BNP Paribas or in one of its subsidiaries based in Montreal.

**The position at a glance**

RISK Independent Review & Control (RISK IRC) is a special unit within the RISK organization and reports directly to the Group CRO. The independent review arm of the department provides second line of defense for the use of various types of models and, accordingly, is in charge of model risk management. RISK IRC is composed of a Model Governance team and several Model Validation groups. The Model Validation groups are responsible for performing an independent effective challenge of the modelling choices in accordance with internal policies, procedures, and standards under different regulations, such as the Federal Reserve Board letter SR11-7. In addition, RISK IRC participate to validation projects for the BNP Paribas Group based in Europe.

**In detail**

The team members are responsible of the following activities:

- Conduct independent quantitative reviews of the models used within BNP Paribas in accordance with internal standards and regulatory guidance.
- Conduct assessment of trade surveillance controls by sampling, providing overall ratings and analytics.
- Provide challenge of conceptual soundness, reasonableness of model output, implementation and any other relevant modelling aspects impacting fit-for-use.
- Work with validation managers to develop an appropriate validation plan to provide effective challenge commensurate with the level of model risk.
- Work closely with stakeholders in Trade Surveillance stream - as well as with vendors - to help BNPP be compliant with model validation requirements in all the areas we service.
- Prepare and present written information in a clear, concise, grammatically correct, and convincing manner; distribute reports to senior management detailing risk assessment and concerns.
- Identify and provide suggestions to enhance surveillance control framework and/or assessment of controls methodology.
- Achieve objectives within tight time constraints while balancing competing priorities.
- Depending on seniority, lead model validation assignments.

Work conditions: This position provides for standard working conditions in an office and a normal work schedule from Monday to Friday.

**The strengths and skills that will help you succeed**

Minimum Required Qualifications
- Bachelor’s or Master’s degree in Finance, Economics, Statistics or any other related quantitative field.
- 3+ years of experience in development, testing or implementation of scenarios related to trade surveillance compliance.
- Attention to detail and ability to manage multiple undertakings simultaneously and with different level of granularity, with a focus on priorities and deadlines.
- Excellent communication and synthesis skills in addition to critical thinking capabilities and passion for learning.
- Experience producing high quality written technical documentation for regulatory purposes.
- General knowledge of banking and broker-dealer regulations.
- Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. Knowledge of the English is required.

Preferred Qualifications:

- Knowledge of the regulatory requirements (such as SR11-7, Basel, etc.).
- Programming experience in statistical or mathematical languages such as Python, R or SAS.
- Professional certification such as CFA, FRM.
- Audit experience.
- Exposure to trading desks, electronic trading market and securities industry.
- Strong knowledge of US banking regulations (e.g. SEC, CFTC and exchanges) and associations under such federal agencies, including FINRA, NYSE, CBOE, ISE, CME, NYMEX and ICE US.
- Quantitative and statistical knowledge of AI and ML techniques, predictive modeling, statistical inference and probability, clustering, etc.
- Familiarity with US trading platforms (NTS).
- Knowledge of financial products (Fixed income, Equity derivatives, commodities, etc.).
- Familiarity with OCC/NYDFS standards or other similar regulatory requirements globally.
- Depending on seniority, experience with mentoring junior team members.

**What’s in it for you**

In addition to competitive compensation, we offer flexible benefits including a family and spouse insurance program, a defined contribution pension plan and paid days for volunteering. Hybrid work arrangements are available for most positions. In-office presence is required a minimum of 3 days per week, one of which must be on a Monday and/or a Friday. BNP Paribas provides excellent training and personal development programs