Requirements: English
Company: BNP Paribas
Region: Madrid , Community of Madrid
DUE DILIGENCE OFFICER
BNP Paribas Group is the top bank in the European Union and a major international banking establishment. It has close to 185,000 employees in 65 countries. In Spain we are more than 5,100 employees within 13 business lines.
CIB
BNP Paribas Corporate & Institutional Banking provides large companies, multinationals and financial institutions with various solutions in the areas of advisory, financing, transactional banking, capital markets, settlement, clearing and custody of securities, asset and fund management services and solutions for corporate issuers. It has 620 professionals in Spain with offices in Madrid, Barcelona, Bilbao and Corua. The entity has a network present in 56 countries.
The Due Diligence Officer directly reports to the KYC Manager of the Madrid KYC Hub and ultimately to the Head of KYC - Madrid Hub.
As a Due Diligence Officer in the Corporate and Investment Banking (CIB) division, you will play a critical role in evaluating and mitigating risks associated with business transactions. Your primary responsibility will be to conduct thorough due diligence on potential and existing clients, counterparties, and transactions to ensure compliance with regulatory requirements and internal policies of BNP Paribas.
The Due Diligence Officer will work closely with cross-functional teams, including relationship managers, legal teams, and compliance officers, to facilitate informed decision-making and maintain the integrity of the bank''s operations as well as, safeguard against potential risks.
The ideal candidate will possess strong analytical skills, attention to detail, and a comprehensive understanding of the discipline and key concepts of the function (KYC).
RESPONSABILITIES
1. Conduct Comprehensive Due Diligence:
- Perform KYCs on new customers, recertification of existing customers and off-boarding,
- Analyse financial statements, legal documents, and other relevant information to assess risk factors including the identification of the Ultimate Beneficial Owners (UBOs) and Politically Exposed Persons (PEPs),
- Conduct comprehensive due diligence on new and existing clients, counterparties, and transactions to assess potential risks,
- Monitor the follow-up elements, especially those related to documentation,
- Comply with and follow up on (international) regulatory requirements, such as the Foreign Account Tax Compliance Act (FATCA), AEOI (CRS) and Markets in Financial Instruments Directive (MiFID),
- Ensure entry of the name of the customers and of the beneficial owners/directors and other representatives on the various databases; perform the relevant Background checks in accordance with Policy,
- Review embargoes, Vigilance to detect PEPs, and utilize other databases according to the local practice,
- Is responsible for the execution of individual tasks
2. Risk Assessment:
- Evaluate the findings of due diligence investigations to assess potential risks and provide actionable recommendations to management,
- Collaborate with legal and compliance teams to ensure that due diligence processes align with industry regulations and company policies,
- Identify and assess risks associated with specific transactions and propose risk mitigation strategies
3. Documentation and Reporting:
- Prepare detailed and accurate due diligence reports summarizing findings and recommendations for internal and external stakeholders,
- Maintain accurate and up-to-date documentation of due diligence activities, ensuring compliance with record-keeping policies,
- Update and monitor the status of all files in the corresponding tools (SharePoint, JIRA, etc.) assuring that it is accurate daily,
- Report KPIs,
- Prepare and record-keep minutes of the team meetings
4. Training:
- Train newcomers with any policy or procedure updates; including performing gap-analysis, documentation collection, KYC assembly in FENERGO, Screening and Investigator,
- Assures and provide training in the different tools and applications currently used by the Madrid KYC Hub when required
5. Communication and Collaboration:
- Work closely with relationship managers, legal teams, and other internal stakeholders to gather necessary valid information and ensure a coordinated understanding and approach to due diligence,
- Communicate due diligence findings and recommendations clearly and concisely to cross-functional teams, including senior management,
- Assist the Head of KYC and the KYC Manager/s of the Hub with ad-hoc project
6. Continuous Improvement:
- Proactively identify areas for process improvement within the due diligence function a