BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets, 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.
BNP Paribas Corporate and Institutional Banking is a globally recognised leader offering capital markets, securities services, financing, treasury and advisory solutions.
RISK MFI Credit & Counterparty Risk Team’s main responsibility is the risk management oversight and control of credit and counterparty risks within the remit of RISK MFI’s authority for all activities conducted within BNP Paribas.
RISK MFI Credit & Counterparty Risk Team (CCR Team) is to promote a holistic and integrated end-to-end approach of risk management – whereby the collective efficiency is improved. The Credit & Counterparty Risk pillar of Risk Analysis & Decisions is structured to ensure a full consistency between counterparty and credit risks approach for each approval across MFI.
CCR Team comprises of three sub-teams:
- Credit Team - responsible for managing the credit decision process and evolution of the counterparty and credit risks on the Bank's institutional clients (excluding HFs). This team comprises of Credit Officers (COs), organized by types of counterparties and transversal Senior Credit Officers (SCOs);
- Hedge Fund Team - responsible for managing the credit decision process and steering the counterparty and credit risks on Hedge Funds (“HFs”) and Risky Funds (“RFs”) clients. The HF Team is the main point of contact for the Business and other RISK teams on both credit and counterparty risks in relation to HFs and RFs.
- Counterparty Risk Team - a transversal team serving the credit decision process and managing the counterparty risks generated by any corporate, financial institution (incl. market infrastructure) or sovereign counterparty, as well as collateral risks generated by Global Markets and 2S;
Main responsibilities of the Hedge Fund team:
- Central point of contact for CIB (FIC, GM, 2S) and within RISK on counterparty and credit risks with HFs and RFs, responsible to provide risks analysis (as LoD2), express opinion, and take decisions. Setting risk appetite and framework, provide support and guidance to other RISK teams
- Responsible for credit process and decision making on HFs and RFs.
- Anticipation, detection along with analysis and decisions on credit and counterparty risks associated to HFs and RFs. Escalation of risk topics and issues as appropriate
- Participation to the permanent risks controls and framework, contribution to projects notably related to the improvements of reporting/monitoring tools, methodologies, regulatory and policies.:
- Purpose: Managing the credit decision process and monitoring the counterparty and credit risk on the Hedge Funds and levered funds clients. Risk management and oversight control over the relevant activities and associated risks.
- Scope: EMEA
- Exercise credit delegation in accordance with the delegation scheme and credit process rules and co-chair Credit Committees together with the Coverage or Business Lines representatives
- Responsible for Credit Committee Minutes’ contents and sign off as RISK delegation holder
- Authorized to approve policy exceptions as defined in procedures such as collateral, legal credit terms
- Participate in or request Due Diligences
- Provide support, guidance and decision, as RISK SPoC and expert, to other RISK teams, ICAT and other businesses (with relevant exposures e.g. BP2S, WM…) relating to HFs and RFs topics (e.g. specific portfolio reviews, complex transactions…)
- Guarantee the quality and timeliness of synthetic credit risk analysis and recommendation (Annual review, ad hoc, credit notes, and comparative analysis) provided by the credit risk analysts on files that fall within his/her level of delegation.
- Guarantee the application of Bank’s procedures and policies and the consistency of Bank’s ratings.
Interact with the Coverage of Financial Institutions and Business Lines
- Assess, with the support of the credit risk analysts, the credit proposal in the light of FIC commercial strategy, coverage memo, and of any material information (transaction or risks) provided by the RM Pilot or the Binome.
- Contribute together with Coverage and ICAT to the identification of the credit points that need to be discussed with the client (during Due Diligence for example).
- Discuss the requests of Credit limits with the Business Lines together with Credit Analyst.
- Work with Coverage of Financial Institutions and Business Lines to mitigate risk related to the counterparties.
Be responsible for (incl. governance/regulatory responsibilities)
- Acting as expert on specific portfolios (High risk / strategic / complex portfolios)
- Decision on files that fall within his/her level of delegation (Ad Hoc requests, annual reviews)
- Recommendation on Watch List and Doubtful counterparties under his/her scope
- Due Diligence process on counterparties under his/her ownership and Contributing to due diligence under SCO ownership. Attend at the adequate committees in collaboration with Credit Analysts & SCOs.
- Apprehend general and specific risks related to Hedge Funds and High Risk Funds exposures, notably related to the steering of in-depth quantitative analysis of the portfolio, design and review of relevant stress tests and margining approaches
- Contribute to the risk strategy definition by providing recommendation on the risk profile of the counterparty and on specific transactions in relationship with the appropriate stakeholders
- Contribute to the Bank’s reactivity vis-à-vis clients’ expectations by prioritizing urgent requests under his/her responsibility with his/her manager
- Contribute to the frequent/regular monitoring (risk exposures and excesses); as well as forums related to RISK MFI clients’ portfolios, in order to anticipate and detect any counterparty or credit risk issues requiring a specific review and the implementation of an appropriate action plan
- Contribute to the definition of regulatory measures and the bank’s risk appetite framework and statement
- Provide support for regulatory requests and missions, as well as preparation and participation to supervisory frequent meetings
- Contribute to the credit and counterparty processes optimization and fluidity, projects (transformation, regulations, IT, etc.) with RISK streams, business lines and FIC
- Contribute to credit and counterparty projects related to methodologies, regulation changes or policies definition in liaison with other RISK streams, business lines and FIC
- Provide RISK MFI comments/recommendations for TACs/NACs when related to HFs or Risky Funds (RFs)
Skills & Experience Required
- Master’s Degree/MSc/Master 2 from Engineering School, Business School or University in Banking, Finance, Economics, Risk Management, Financial Markets or other relevant areas
- Credit/Counterparty Risk, or Market Risk, or Financial Analysis, or Risk Management
- Strong and proven analytical skills
- Solid knowledge and understanding of banking and financial markets
- Understanding of Corporate Banking and Capital Markets products
- Critical thinking and capacity to challenge
- Advanced knowledge of Microsoft Office (Word, Excel, PowerPoint
- An additional language to English would be preferred
- Adaptability and proactivity, multitasking
- Strong presentation and communication skills (verbal and written)
- Self-driven and organized
- Assertiveness and leadership/management skills
- Quantitative financial markets and products knowledge
- Capacity to engage and motivate teams
BNP Paribas promotes equality of opportunity and is 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, race, religion or belief, sex or sexual orientation.
As an employee with BNP Paribas London Branch, we want to make sure that you are rewarded for your commitment. As such, you will be entitled to our award winning benefits package which includes a generous holiday allowance of at least 34 days (including bank holidays), a non-contributory pension of 12%, private healthcare, GP service and dental cover all as standard, along with a number of personal insurances such as income protection, life assurance and personal accident insurance. We believe in ensuring all our employees have a positive work life balance so in addition you will also have access to a variety of flexible lifestyle benefits such as cycle to work and green car leasing schemes, season ticket loans and reduced cinema and gym membership to name a few.