Operational Risk Analyst – Anti-fraud

Employment contract:



Madrid, Comunidad de Madrid, Spain






BNP Paribas is an international bank with leading positions in the European market. It is present in 74 countries and employs more than 192,000 people, 146,000 of whom are in Europe. The Group holds key positions in its three main areas of activity: Domestic Markets and International Financial Services (whose retail banking and financial services network is part of Retail Banking & Services), as well as Corporate & Institutional Banking, which offers services to corporate and institutional clients. The Group supports its customers (individuals, entrepreneurs, SMEs, large companies and institutions) to help them carrying out their projects by providing financing, investment, savings and insurance services.

In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is number one in retail financing in Europe.

BNP Paribas is developing its integrated retail banking model in the Mediterranean countries, Turkey, Eastern Europe and has an important network on the US West Coast. In both its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas has leading positions in Europe, a strong presence in the Americas and a solid and growing network in the Asia-Pacific region.                

ENTITY: Platform Risk


RISK is an integrated and independent control function of the BNP Paribas Group. It is the second line of defense on the risk management activities of the Group which are under its direct responsibilities, including credit and counterparty risk, market risk, funding and liquidity risk, interest rate and foreign exchange risks in the banking book, insurance risk, operational risk, and environmental and social risks.

RISK aims at being a partner of the businesses by contributing to their sustainable development, but also a gatekeeper to ensure risks taken remain compatible with the Group’s Risk Appetite and its strategy.


RISK Iberian Hub Madrid is a transversal platform servicing the RISK Function by covering added-value activities around credit risk, market risk, operational risk and data protection. Offering a wide range of services to RISK teams, from consulting to cyber security going through data analysis, modelling or artificial intelligence. ”                                     


RISK Operational Risk Management (RISK ORM) CIB belongs to the second line of defense of BNP Paribas Corporate and Institutional Bank (CIB). It belongs to the Risk Function (RISK) of BNP Paribas (RISK) and is placed under the responsibility of the Head of RISK ORM CIB, who reports to the CRO of CIB.

The department has responsibility for independently challenging and supervising the Operational Risk management of CIB activities (Global Banking, Global Markets, Securities Services, Information Technology (IT), Operations and Functions) on a worldwide scope. In the territories that CIB operates, there is responsibility to cover the Assets Liability Management and Treasury (ALM-T) operations too. This is achieved through: framing operational risk methodology for CIB and disseminating of risk management culture across CIB; assessing the adequacy of the CIB operational risk management set-up; controlling effectiveness of CIB control environment; contributing to the detection, anticipation and response to risks; alerting CIB and RISK stakeholders on any significant risk issue; providing a consolidated view on CIB operational risks profile.

As the second line of defense for Fraud risk management (interchangeably called Anti-Fraud), RISK ORM has the responsibility for oversight and supervision on Fraud risks for CIB, ensuring and opining that appropriate Fraud risk management efforts are underway and raise any alerts in case of issues to the stability of the Bank and influencing business, functions and technology partners to take sound risk management decisions.                                

About the Role


–          Purpose: To provide independent and control function opinion on fraud risks for each new activity or transaction. In the future, industrialize this setup.

–          Scope: CIB activities worldwide, covering all business lines and all geographies.                                


Corporate and Institutional Banking (CIB) businesses are fast paced, dynamic, growing and complex and RISK ORM CIB is in charge of evaluating and supervising the wider operational risks of all its business lines. When the source of an operational risk or incident or potential incident is or can be linked with malicious intent (from an insider or from external sources), this requires anti-fraud expertise.

TAC and NAC processes: all new activities and transactions within CIB go through a thorough validation process involving all the CIB functions, including notably: Front Office, Middle Office, Back Office (operations), Business, CCCO, IT, Compliance, Legal, Finance and RISK. The control functions review all the new processes, workflows, systems, tools, booking structure, IT involved, reach out as and when needed to seek clarification and can either (i) approve it, (ii) approve with conditions or (iii) reject it.

It is a requirement for the business sponsor or their delegates to provide a detailed analysis of the activity/transaction, including assessment on fraud risks. The control functions then check and challenge the analysis given and raise any conditions that will help in mitigating the new risks borne by the new activity or transaction.

RISK ORM CIB provides an opinion on fraud, operational risks and reputation risks on each new activity or transaction (TAC or NAC).

Designated Market Activities (DMA): these activities more generally cover the subset of CIB activities where BNP Paribas intervenes in the financial markets via trading and sales activities, namely Global Markets, Security Services and Asset and Liabilities Management and Treasury (ALM-Treasury).

The role is for an Anti-Fraud (AF) TAC NAC Risk Analyst who will be reporting to the Anti-Fraud DMA Lead and locally to the head of the RISK ORM CIB Technology and Transversal Risks (TTR) team. The AF TAC NAC Risk Analyst will provide, for each TAC and NAC, a fraud opinion highlighting the presence of any enhanced fraud risks, typically:

– Rogue Trading (Trading activities is at the heart of CIB Market activities including GM, 2S and ALM-T and require strong prevention framework to avoid internal incident with potential major financial impact).

– Conduct risks with a fraud nexus: Fraud risks and collusion are also embedded in Conduct risks covered by Market Integrity, Protecting the interests of Clients and Professional Ethics (MI,PIC,PE) controls. 

– Payment/transfer fraud

– External fraud

– Loan fraud

– Theft and Embezzlement of bank and client assets

– Collusion risk

On top of this, the analyst as team member, may be required to contribute to the wider tasks of the DMA Lead, which at times includes control testing and contribution to fraud incident analysis.”                                    


–          Training:                                            

o   Education and experience relevant to financial markets: the role will suit a candidate with knowledge in financial markets related business activities and their risk management.

o   Experience and subject matter expertise on Anti-Fraud related topics.

–          Experience:                                     

o   Good verbal and written communication with stakeholders across the Bank (beyond the market activities perimeter) and to present often at senior level of the bank;

o   All-round IT competence, with specific data analysis skills such as being highly proficient in excel or Power BI;

o   The position requires a strong analytical background across the main categories of risk and the ability to synthesize large amounts of diverse information at any one time.

o   A strong delivery focus is required as strict deadlines are to be respected and limited time is available to collect and analyze risk information.

–          Languages:                                       

o   English: Fluent

o   French: Optional

–          SKILLS:

o   Technical:

– Internal Audit

– Risk Management / Risk monitoring

– Operation and processes

o   Transversal & Behavioral:                                           

– Organizational skills                      

– Proactivity                        

– Ability to collaborate/Teamwork                            


–          Training programs, career plans and internal mobility opportunities, national and international thanks to our presence in different countries.

–          Diversity and Inclusion Committee that ensures an inclusive work environment. In recent years, several employee communities have been created to organize diversity and inclusion awareness actions (PRIDE, We Generations and MixCity).

–          Corporate volunteering program (1 Million Hours 2 Help) in which employees can dedicate time out of their working hours to volunteer activities.

–          Flexible compensation plan

–          Hybrid telecommuting model (50%)

–          31 vacation days                                         

Diversity and Inclusion commitment

BNP Paribas Group in Spain is an equal opportunity employer and proud to provide equal employment opportunity to all job seekers. We are actively committed to ensuring that no individual is discriminated against on the grounds of age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity/paternity, race, religion or belief, sex, or sexual orientation. Equity and diversity are at the core of our recruitment policy because we believe that they foster creativity and efficiency, which in turn increase performance and productivity. We strive to reflect the society we live in, while keeping with the image of our clients.